The Impact of Modern Marketing Communication Tools to Increase Market Performance: The case of Commercial Bank of Ethiopia Addis Ababa

Abstract

Purpose: The purpose of this research was to investigate the impact of modern marketing communication tools on market performance within the context of the Commercial Bank of Addis Ababa, Ethiopia. The study aimed to explore the relationships between these tools and various business outcomes such as increased sales volume, customer awareness, and market share expansion.
 
 Theoretical framework: The study developed a conceptual framework based on an extensive review of existing literature. The theoretical framework provided the foundation for understanding the relationships between modern marketing communication tools, customer satisfaction, and market performance. It incorporated relevant theories and models from the field of marketing and communication.
 
 Design/Methodology/Approach: The research adopted a mixed research design, combining both descriptive and explanatory methods. A quantitative research approach was employed to gather data from a sample of 384 respondents who are customers of the Commercial Bank of Ethiopia in Addis Ababa, specifically focusing on the east district. The data collection methods included questionnaires and semi-structured interviews. Additionally, secondary data was collected from academic journals, books, and online resources. The researcher utilized a convenience sampling technique for participant selection.
 
 Findings: The study's findings revealed a significantly positive impact of the implementation of modern marketing communication tools on the business. These tools contributed to increased sales volume, heightened customer awareness, and expanded market share within the industry. The research also identified diverse opinions on the role of these tools in enhancing customer satisfaction and their importance in customer retention.
 
 Research, Practical & social implications: The research findings have several implications for research, practice, and society. From a research perspective, the study contributes to the existing literature by providing insights into the relationship between modern marketing communication tools and market performance. Practically, the findings offer valuable insights for businesses, especially banks, on how to leverage these tools effectively to enhance their sales and customer engagement. Socially, the study highlights the importance of adopting modern marketing communication tools in businesses, potentially leading to economic growth and employment opportunities within the community.
 
 Originality/Value: The originality of this research lies in its focus on the Commercial Bank of Addis Ababa, Ethiopia, examining the specific impact of modern marketing communication tools within this context. The study adds value by providing empirical evidence and practical implications for businesses operating in similar environments, offering a valuable resource for academics, practitioners, and policymakers in the field of marketing and communication.