Corporate Donation as a Marketing Communication Tool

Abstract

The purpose of the study was to gain better understanding into how Donation can be used as a Marketing communication tool in the financial sector. This is due to this fact, most financial institutions in the Ghana, are using the other traditional communication tools with sales promotion and Advertising dominating. Atwima Kwanwoma Rural Bank is used as a case study. Questionnaires, Interviews and documentations are the instruments used to gather data for this study. From the result of the study, it was discovered that Donation is a strong communication tool apart from the traditional communication mix. Donation also provides a cost effective means of communication to all stakeholders involved both in the long and short run. This was realized from the response gathered from the Questionnaires and interview. Again, Donation has a quick influence as it communicates quickly to recipients through the kind gesture done by the Bank. Donation increases sales as it urges most beneficiaries to open accounts with the Bank. It is therefore suggested that in event of further studies, information regarding the internal operation of the Bank must be made available so as to provide balance analysis of the study. In the study, Donation was found to infuse all the other communication tools at a time, because in one Donation activity, the Bank is able to directly promote its services through Direct Marketing, personal selling, advertising, sales promotion and public relations.