According to Kotler, promotion is one of the market mix element or feature that consist of adverse collection of incentive tools, mostly short-term, designed to stimulate quicker and/or greater purchase of particular brand, products, or service by consumers or the traders.

As described by Kotler, the marketing genius saw that the issue of marketing promotion would become more and more complicated as the advent of microfinance by Prof. Mohammed Yunus, the Nobel prize laureate in Bangladesh, exist with the internationalisation of financial services continue to increase. In the latter years, the growing number and competition between Microfinance Institutions (MFI's) in targeting and reaching a large number of the middle class and poor in mobilising deposit and loan delivery to clients is crowding-out commercial banks in reducing their share in total assets.

A growing number of MFI in the Ghana as one of the most efficient instruments in promoting economic growth and development and eradicating poverty have proven that financial services can be offered on a sustainable basis with high outreach is threatening commercial banks which have reduced their asset values. While the banking sector has not witnessed new entrant in 2013, the number of licensed MFI has more than double. According to the Bank of Ghana (BOG) figures, it has licensed 138 new microfinance firms in the first half of 2013.

An interview with Mr. Alfred N. A. Akotiah , the Executive Head , Retail Banking at the Agriculture Development Bank (ADB) sought to find his view on the current trend of commercial banks promotions and stated that the current trend of banks promotion is mainly towards deposit mobilisation and (except Societe Generale is running) loans promo.

HFC Homesave Promotion which is aim at rewarding loyal customers with their homes offers the public the opportunity to cultivate and develop a good savings habit with the possibility of owning a home by depositing a minimum of GH¢200.00 in their HFC Homesave, Smartsave, Life Starter and Current Accounts. This is expected to grow and maintain an average balance of GH¢ 1,200 for three months. He Stated

Access Bank, Easy Access Promo run another deposit type with the campaign of rewarding loyal customers of the Bank and seek to deepen the saving culture in Ghana by empowering individuals to save, own and operate their own accounts. Customers must deposit GH₵200.00 in their account, and qualify for the any of the draws, or maintain a minimum of GH₵500.00 or more in their account number.

CAL Bank promotion, required customers were to deposit multiples of GH¢300 and maintain a balance of GH¢1500 for 30 days before qualifying.

Unibank Dream and Drive Aseda Nkoaa Promotion was no different with customers qualifying after depositing a minimum of GH¢200.00 at any UniBank Branch in the country.

He stated that the poliferation of the Non-banks Financial Institution (NBFI's) have taken the bank closer to the customer and taking advantage of cheap deposit which is currently making it difficult for commercial banks to rake in cheap deposit. He also stated that the current aggressive promotions is a marketing strategy to attract customers and to absorb the loss deposit since the MFI's don't have the enough resources to embark on similar promotions. He argues that, this could trigger, the MFI's to increase their interest on deposit as measure to out-compete the commercial  banks to raise more deposit and give loan.

The different rate regime in the financial sector could motivate a client to go for loan from a commercial bank and deposit the amount in a non-bank institution with a higher rate on deposit to make a gain on the spread. He stated that MFI's took advantage of the first eight months of the court verdict to create the convenience to boost their deposit level. The currently massive promotion activities by banks is purely a business and marketing strategy to recoup deposit from their consumer. 

In order to meet the challenge in revenue mobilsation and loan delivery, commercial banks  in the country have in recent times had to devise strategies to tackle the low savings among the banking public.

Traditionally, banks are known to focus mainly on corporate as well as personal and consumer banking. Thus the increase number of MFI suggests a widening scope of the financial sector provision at the micro level and middle class. A deputy governor at Ghana Central Bank noted that as the of June 2013, the number of MFI it has licensed has risen from 90 in December 2012 to 223 by June 2013.

According Mr Millison Narh, the current situation leaves a wide financial gap, which is referred to as 'missing middle' and constitutes mainly Small Micro and Medium Enterprises (SMME's). Unlike the banks, he argues, "these smaller institutions which are able to offer more competitive rates on deposits products to their customers are inching up their market share".

Clearly, this development in the economy should be a wake-up call to all banks since there are more funds that can be intermediated in the economy if the price is right.

According to Nana Otuo Acheampong, a banking expert, Some of the banks are currently recording savings’ improvements in their ‘deposit and win’ promos, though it is not clear how long this will be sustained. However, microfinance institutions have not been spared the challenge of mobilizing savings to boost their capital base. According to him, the banks are however striving to effectively manage the little savings in order to grant loans to people.

In support he revealed that the current promotional activities is to drive deposits mobilization abound on the market as part of moves by the banks to compete with non-bank financial institutions who promise high interest on deposits. The is some level of dryness in deposit mobilisation and the 26 universal banks in Ghana is currently adopting various promotions to mobilise more funds.

This trend have change the commercial banks in Ghana to gradually expand their operations to the microfinance market as the opportunities in traditional banking sector dwindles and making deposit mobilsation more competitive. Traditionally, commercial banks have shunned the microfinance sector, allowing it to be dominated by the "Alternative Financial Institutions" which consist of small savings and loans companies and Susu collecttors. The reason being that, the microfinance market is simple meant for low-income earners and the middle and lower societal class, the main clientele for microfinance services, are cot the 'bankable'.

Their high risk, default risk and high cost of service of their low amounts of savings or loans deterred commercial banks. However, the emergence of large scale, well-organised and structured MFI's has made the commercial banks realise the opportunities they are missing by neglecting the microfinance market. The benefits of banking with the "unbankable" has been advocated for over twenty years in Asia and Latin America where microfinance has gained a strong foothold. In  Asia, for instance, the Grameen Bank of Bangladesh has shown quite clearly that small loans granted to low-income earners, middle and lower income bracket can translate into a multi-million dollars financial institution.

In Ghana, the increase competition in the traditional banking sector is compelling the commercial banks to seek growth opportunities through marketing strategies and the microfinance sector is also becoming the obvious choice. Commercial banks entering the microfinance market have advantage over the small savings and loans companies and the Susu collectors. They are more able to roll out a wide range of financial products and services supported by their infrastructure and systems as well as access to capital.

On his part Mr. Solomon Adu Atefoe, Chairman of the Chartered Institute of Marketing (Ghana Branch), believes that the court verdict slowed down the entire economic system which lead to the trickle of deposit and consumer's holding fund. Consumers within the first eight months slowed down revenue mobilsation, savings, investment which drove government to borrow more external. On the other hand, this presented a great opportunity to MFI's to take banking to the deposit of consumer's to rake in more deposit. The court verdict this year really affected the savings habit of Ghanaians and foreign investment which is manifesting in this last quarter as compared to 2012 even though it was an election year. This mad rush promotion activities would continue until through the first and second quarter of next year. He postulated.