BRAND POSITIONING AND MARKETING WELLNESS OF DEPOSIT MONEY BANKS

Abstract

The achievement and maintenance of sustained competitiveness in the present-day business-scape require firms to distinguish their offerings from those of competitors. This is especially so, given that most products in the marketplace are different only by their labels. Firms are thus increasingly realising the importance of brand positioning in their bid to achieve differentiation and superior performance. The focus of this study was to determine the nexus between brand positioning and marketing wellness. Marketing wellness was measured in terms of brand awareness, sales growth and market share. The study utilized data collected from sixty-six (66) respondents consisting of branch managers, marketing managers and inside sales officers of deposit money banks using a structured questionnaire. The Spearman’s Rank Order Correlation served as the test statistic, relying on SPSS version 20.0. The study found positive and statistically significant correlation between brand positioning and all the metrics of marketing wellness considered in the study, with brand awareness showing the strongest link with brand positioning.
The study thus concludes that brand positioning influences marketing wellness and recommends that deposit money banks that seek improved marketing wellness measured in terms of brand awareness, market share and sales growth should employ brand positioning to gain a prime place in the minds of their target audience