Strategic marketing plan for Obrapa Money Lending Limited
Obrapa Money Lending Limited is a company licensed by the Bank of Ghana to operate the business of money lending. The company takes funds from the public in the form of investments and gives out funds to the public in the form of loans. Since its inception in 2013, the company has provided financial assistance to traders, taxi drivers and small enterprises. The aim of this project was to develop a strategic marketing plan for Obrapa Money Lending Limited to increase its brand awareness and customer base. This was based on a needs analysis which revealed that the company relied on funds from friends and family members. The strategic marketing plan was developed using the MicroSave-TMS Financial Strategic Marketing Framework, which has been implemented by eight institutions in Africa, similar to Obrapa who experienced phenomenal results in terms of brand awareness, an increase in the number of customers and a reduction in processing costs. A major objective of the strategic marketing plan was to ensure that at least 30% of the target market living and working in and around Dzorwulu are made aware of the services Obrapa offers by the end of December 2017, through personal selling and Facebook advertisement. Some of the key activities of the plan include painting of the company premises, developing flyers and brochures and creating content for the Facebook page of the company. An implementation of the proposed strategic marketing plan will help Obrapa Money Lending Limited increase its brand awareness, customer base and revenue significantly in the long-term.
Applied project submitted to the Department of Business Administration, Ashesi University College, in partial fulfillment of Bachelor of Science degree in Business Administration, April 2017.
money lending, financial assistance, marketing plan, strategic marketing plan, brand awarenes