EFFECT OF SALE PROMOTION STRATEGIES ON CONSUMER BUYING BEHAVIOR
Abstract
ABSTRACT
This study examined the effect of sales promotion on consumer buying behavior in FirstBank, Bauchi Branch. The research was guided by four objectives: to determine the effect of discounts, to assess the impact of premiums and free packages, to evaluate the influence of loyalty rewards and referral bonuses, and to examine the role of demographic factors in shaping customer responses. The study adopted a descriptive and explanatory research design, with a stratified random sampling technique used to select 60 respondents from a population of 150 FirstBank customers in Bauchi metropolis. Data were collected through structured questionnaires and analyzed using descriptive statistics such as frequency counts, percentages, means, and standard deviations. The findings revealed that discounts on loan processing fees, electronic banking, and transaction charges significantly encourage customers to adopt and frequently use banking services, thereby strengthening loyalty. Premiums and free packages, such as free account-opening offers, bonus services, and premium incentives, were also found to positively influence customer satisfaction and preference for the bank. Similarly, loyalty rewards and referral bonuses emerged as powerful tools for sustaining customer retention and stimulating new patronage, with referral bonuses exerting the strongest impact. The study further established that demographic factors, particularly income, significantly influence the extent to which customers respond to promotional strategies, while education, occupation, and age also play moderating roles. The study concludes that sales promotion is a strategic marketing tool with a direct and positive effect on consumer behavior in the banking sector. It recommends that FirstBank strengthen its discount schemes, introduce tailored premium offers, enhance loyalty programs, and aggressively promote referral bonuses. Furthermore, promotional strategies should be segmented according to customer demographics to maximize effectiveness. Suggestions for further studies include comparative research across multiple banks and investigation into the long-term impact of digital-based promotional tools
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