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Mr. Manoj Khadka

Mr. Manoj Khadka is the Acting Chief Executive Officer of Tourism Development Bank Limited (TDBL), New Baneshwor. Mr. Khadka is associated with TDBL from its inception in 2010 as Deputy General Manager and is assuming the role of Acting CEO from last one year. Miss Kriti Bhuju talked with Mr. Khadka who started his banking career from Nabil Bank in 1993 about the importance of advertising. Excerpts:

WHAT IS THE IMPORTANCE OF ADVERTISING IN THE COUNTRY LIKE NEPAL? DO YOU THINK ADVERTISEMENT HELP CREATE BRAND IMAGE?

We know that basic objective of all advertising is to inform, persuade, or remind general people about the specific product or services being advertised. Advertising on the whole helps business as well as the economy to prosper and makes the consumer aware of the various choices that are available in the market. Definitely, I think  advertising about product or service helps a lot to create brand image of products, services or companies but the only the challenge is to make effective advertising plans and programs.

DOES THE ADVERTISEMENT WE SEE REALLY INFLUENCE US TO BUY THOSE PRODUCTS AND SERVICES?

Yes, in my opinion the advertisement definitely influence the consumers to buy any products or services; that may be in conscious or unconscious manner.  Yes, the advertisement could be informational or transformational and if we can make an effective advertising campaign both of them really influence the consumer to buy the particular product or the service being advertised.

Some statements and phrases used in the advertisements are really catchy and they can well be fairly embedded in the phyche of consumers. But do those catchy statements encourage them to buy products or services? What do you say regarding this?

Of course, a catchy statement inspires the consumers and the chances of encouraging the consumer to buy or obtain certain products or services are high. In my opinion, as human beings are more of experimental nature in general and if they are in contact with any sort of catchy things, they generally intend to consume or obtain that particular goods or services. While buying something or taking services the statements inspire us. Let us take an example of banking service, people prefer to go to that bank which has catchier statement to fascinate them.

AS YOU SAID IT IS A CHALLENGE MAKING ADVERTISEMENT PLANS AND PROGRAMS, WHAT DO YOU THINK ARE THE THINGS TO BE CONSIDERED WHILE DESIGNING AD?

I think there are numerous things that need to be taken into consideration while designing an advertisement like who are our target audiences, what is the context of the advertisement and what is the cost associated with etc.

SOME COMPANY SPENDS MILLIONS OF RUPEES ON A SINGLE ADVERTISEMENT BUT IS IT REALLY WORTH? DOES IT INCREASE THEIR PROFITS?

Yes, of course a bigger investment from any company can well create the chances to generate best advertisement materials, thereby enabling it to reach the targeted group efficaciously.  This will help the company for expanding business and obviously this leads to more profit as well. Even though, I don't think that merely spending millions of rupees for anything including for a single advertisement will add the value for the company or product and services associated it. It depends how effectively the advertisement plans, programs and strategies have been made. I mean to say that cost incurred for the advertisement by the company will be turned into investment in the real sense only if the advertisement plan is well programmed. Again, I think the figures of the spending amounts shall be looked into relative term.

DO YOU SOMETIME THINK THAT ADVERTISEMENT IS WASTE OF MONEY AND IT IS THE CONSUMERS WHO HAVE TO BEAR THE EXPENSES MADE ON ADS?

No, I don't think so. If it would be true, why the advertisement and promotional things are getting more and more important globally? I don't think that advertisement is waste of money and the consumers have to bear the expenses made on ads. But poorly managed advertisement would not be able to give the appropriate results and this may resulting into unnecessary expenses and sometime this may pass on the ultimate consumer for short run. 

DO YOU THINK ADVERTISEMENT IS IMPORTANT FOR THE BANKS? HOW DO ADVERTISEMENTS HELP THE BANKS?

Well, the advertisement plays a vital role for the banking business as well. As the scope of banking business is large and good advertisement campaign will inform and remind about particular bank and its procuct and services to the public at large. Similarly, another aspect is that the effective advertisement could create a good brand value of that bank and will be able to make a positive perception and helps to enhance the trust among the general public.

HOW MUCH DOES YOUR BANK ANNUALLY SPEND IN ADS?

It depends on the situations, if there are requirements of launching new banking products and services or opening new outlets; the additional advertisement budgets will be allocated accordingly. So, annual cost depends on the situation, though I would roughly say the annual budget is around Rs. 3 to 4 million in our case.

DO YOU THINK APPOINTING AN AGENCY IS IMPORTANT FOR PREPARING ADS?

Yes, I think appointing an agency for preparing ads is essential. Let us talk about a bank, as we do have the knowledge and expertise in banking business but not necessarily we should have the detail know how to prepare effective ads. Hence, appointing an agency is very essential. 

WHAT ABOUT THE TARGET AUDIENCES? DO YOU CONSIDER THEIR NEEDS WHILE ADVERTISING YOUR PRODUCT?

Of course, unless and until we thoroughly considered the target audience while advertising, that ad could not meet the objectives. In our case as well let us say, we wanted to launch a new deposit product for youngster, we will definitely choose the advertisement materials, medium etc. accordingly.

DO YOU LIKE TO ADD UP ANYTHING?

Well nothing much. I want to thank you, your editorial board and all the AAN family for providing this opportunity to me for sharing some of my views. I would like to congratulate AAN for the successful completion of 8th CRITY awards. Finally, I would like to take this opportunity to request all the readers to take the banking services from Tourism Development Bank Limited (TDBL) either in deposits, lending or any sort of other transactional banking; TDBL team is  welcoming you all and waiting to fulfill your banking services requirements.