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Author
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Brendon Simango
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Title
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The effectiveness of online markerting on brand revival, brand loyalty, brand differentiation and customer experience. The case of Zambuko trust.
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Abstract
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ABSTRACT
This comprehensive dissertation examines the role of online marketing strategies in reviving brand performance, cultivating brand loyalty, enhancing customer experience, and differentiating brand identity within the microfinance industry. The research is centered on the case of Zambuko Trust, a leading microfinance institution in Zimbabwe that has faced significant challenges in recent years due to the country's economic turmoil and increased competition in the sector.The first section of the dissertation provides an in-depth background on the microfinance industry in Zimbabwe, tracing the evolution of Zambuko Trust from its inception in the 1990s as a pioneering provider of financial inclusion services to low-income communities. It explores how the organization's brand equity and market position eroded in the 2000s and 2010s due to factors such as political instability, hyperinflation, and the rise of digital-first microfinance providers.The core of the research focuses on Zambuko Trust's deployment of online marketing initiatives starting in 2018 as a strategic response to revive its brand and recapture its customer base. The dissertation delves into the specific digital marketing tactics employed, including the redesign of the organization's website, the launch of social media campaigns, the implementation of search engine optimization (SEO) and search engine marketing (SEM) strategies, and the utilization of email marketing and mobile-based communication channels.Through a mixed-methods approach incorporating customer surveys, in-depth interviews with Zambuko Trust's leadership and marketing team, as well as an analysis of the organization's key performance indicators, the dissertation assesses the impact of these online marketing efforts. The findings demonstrate how the strategic use of digital platforms and content has enabled Zambuko Trust to:1. Rejuvenate its brand image and messaging to appeal to a new generation of microfinance clients, particularly youth and first-time borrowers.
2. Foster stronger brand loyalty and customer engagement, leading to higher client retention rates and increased referrals.
3. Enhance the overall customer experience by providing convenient, personalized, and responsive service through digital channels.
4. Differentiate Zambuko Trust's value proposition from competitors, highlighting its legacy, social impact focus, and community-driven approach to financial inclusion.
The dissertation also explores the organizational and technological challenges Zambuko Trust faced in transitioning to a more digitally-enabled operating model, as well as the regulatory considerations and data privacy concerns that shaped the implementation of its online marketing strategies.In conclusion, the research offers valuable insights for microfinance institutions and other financial service providers in emerging markets seeking to leverage digital marketing to revive their brands, build customer loyalty, improve customer experience, and enhance their competitive positioning. The findings provide a roadmap for the effective integration of online marketing within the broader strategic and operational framework of mission-driven organizations operating in resource-constrained environments.
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Date
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JUNE 2024
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Publisher
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BUSE
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Keywords
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Keywords: online marketing, brand revival, brand loyalty, brand differentiation and customer experience.
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Supervisor
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DR CHINGWARU
