CORPORATE PHILANTHROPY OF SELECTED DEPOSIT MONEY BANKS AND THE EFFECT ON MARKETING PERFORMANCE

Abstract

The study investigates the effect of corporate philanthropy on the marketing performance of deposit money banks in Uyo metropolis, Akwa Ibom State. The survey design was adopted in the study. Two hundred and fifty two respondents were selected from five deposit money banks in Uyo metropolis. A structured questionnaire developed by the researcher was administered to respondents to elicit data from them. Data obtained were analyzed using descriptive and inferential statistics. Findings indicated that corporate scholarship has an insignificant but positive effect on customer retention in the deposit money banks studied. The results further revealed a positive and significant relationship between corporate sponsorship and brand equity. Based on the findings, it was recommended that deposit money banks utilizing scholarship as part of their philanthropic engagement should design programs that takes into consideration geographic differences while exerting efforts to equip prospects with values and skills needed by them rather than just catering for tuition requirements. The study concluded that corporate philanthropy has significant effect on the marketing performance of deposit money banks