DETERMINANTS OF CHOICE OF PROMOTIONAL MIX IN THE MARKETING OF FINANCIAL SERVICES IN NIGERIA (A CASE STUDY OF UNITED BANK FOR AFRICA UBA)

This study examined the determinants of choice of promotional mix in the marketing of financial services in Nigeria, with a specific focus on the United Bank for Africa (UBA). The study was motivated by the increasing complexity of the Nigerian financial services landscape and the need for financial institutions to adopt appropriate and effective promotional strategies to attract and retain customers in a highly competitive environment. The research adopted a descriptive survey design. Primary data were collected through structured questionnaires administered to management staff, marketing officers, and selected customers of UBA. Secondary data were sourced from journals, textbooks, and company reports. A total of one hundred and twenty (120) respondents were sampled using purposive and random sampling techniques. Data were analyzed using descriptive statistics including frequency tables, percentages, mean scores, and chi-square test of independence. The findings revealed that target audience characteristics, nature of the financial product, available budget, competitive environment, and regulatory framework are the major determinants influencing the choice of promotional mix at UBA. The study also found that advertising, personal selling, and digital/social media marketing are the most frequently used promotional tools by UBA. The results further showed a significant positive relationship between the choice of promotional mix and the performance of UBA's financial services. The study concluded that an appropriate promotional mix is central to achieving marketing objectives in the financial services sector. It was recommended that UBA and other financial institutions should continuously evaluate their promotional strategies in response to changing market conditions, customer preferences, and regulatory requirements. Greater investment in digital marketing platforms is also advised to reach the increasingly tech-savvy Nigerian consumer. Keywords: Promotional Mix, Financial Services, Marketing, UBA, Nigeria, Advertising, Personal Selling, Digital Marketing.