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THE IMPACT OF PRODUCT ADVERTISEMENT ON SALES VOLUME OF COMPANIES(A CASE STUDY OF NIGERIA BREWERIES PLC 9TH MILE CORNER)
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Product Advertisement
ABSTRACT
This study was carried out by the research to examine and ascertain the role product advertising plays on sales volume of companies.
The study examine the twin problems of inconsistency and inflexibility in the advertising policy of companies
The researcher used the survey research design to execute this study .
The population used by the researcher for this study consisted of all the workers of the Nigeria Breweries Plc at 9th Nile corner Ngwo in Enugu state.
The researcher used the systematic simple random sample technique to select the sample used for the study.
The research used the yaro yamene’s formulary for sample size determination to determine the sample size for the study.Product Advertisement
The researcher used the measurement tool (the questionnaire ) as the major data collection instrument for this study. Out of the 119 questionnaire administered by the research, 112 were returned and analysed
The researcher used tables, figures and percentage to present and interpreted the data they generated for this study while they used the test of hypothesis for sample proportion to test the hypothesis they formulated. The major findings of the study are
I That companies, especially the Nigeria Breweries Plc mostly use the television medium as their major advancing medium
Ii That product advertising has a very high significant impact on the sales volume of companies.
3 That product advertising has a strong effect on the buying decision and loyalty of customers.
The recommendation made by the researcher includes the following
1 That companies should identify and use a particular advertising agent within a given period in order to be consistent with the policy and programme the study includes that products advertising does play a significant role in the sales volume of companies
PROPOSAL
- To examine the major effect and the role of product advertising on sales volume.
- To identify the common media of advertising being used in the brewery industry.
- To identify the common form of advertising being used in the brewery industry. Etc.
Research Hypothesis.
The research will test the following hypothesis in carrying out this study.
- Ho: Product advertising has no significant role to play in sales volume determination.
Hi; Product advertising has a significant role to play in sales volume determination.
- Ho: Effective product advertising cannot lead to significant increase in profitability level of a company.
Hi; Effective product advertising can lead to significant increase in profitability level of a company.
SIGNIFICANT OF THE STUDY.
- It will help the company’s performance.
- Advertising agents will benefit from the information content of the study.
- Other researchers and academicians will benefit from the information content f the study.
LITERATURE PREVIEW.
The research will visit the company, several libraries in Enugu metropolis like Institute of Management and Technology, National Library, State Library and so on. The researcher will also collect literature materials to review the related literatures.
SOURCES OF DATA.
All the data to be used in achieving the objectives of this study will be gathered by the researcher from two sources namely;
- Primary data source and
- Secondary data source.
POPULATION OF STUDY.
The population to be used by the researcher will comprise all the staff of the Nigeria Breweries Plc work at its brewery plant located at the 9th mile corner, Ngwo, Enugu State.Product Advertisement
METHOD OF DATA COLLECTION INSTRUMENT.
The researcher will use data collection instrument data for this study.
METHOD OF DATA ANALYSIS.
In analyzing the data, the researcher will use charts, tables, figures and percentages in presenting and interpreting the data.Product Advertisement
DATA PRESENTATION ANALYSIS.
The researcher for the purpose of this study will present and analyze data collected b using some variable like;
Questionnaire Distribution and Analysis and so on.
SUMMARY OF FINDINGS, RECOMMENDATIONS AND CONCLUSIONS.
Finally the researcher will summarize the major findings of the study, then make recommendation and equally make conclusions based on the findings and recommendation of the study.
TABLE OF CONTENT
CHAPTER ONE
1.1 Introduction
1.2 Statement of problems
1.3 Objectives of the study
1.4 Research Hypothesis
1.5 Significance of the study
1.6 Scope of the study
CHAPTER TWO.
2.0 Literature Review
2.1 Conceptual issues on marketing
2.2 Overview/meaning of marketing
2.3 Historical Development of Advertising
2.4 Relevance of Advertising
2.5 Purpose, forms and functions of advertising
2.6 Forms of advertising
2.7 Functions of advertising
2.8 Overview of product and its types.
2.9 Significance of advertising in product life cycle.
2.10 Role of advertising in New product development
CHAPTER THREE.
3.0 Research Methodology
3.1 Sources of data.
3.2 Population of the study.
3.3 Determination of sample size.
3.4 Sampling procedure.
3.5 Selection and construction of research instrument.
3.6 Administration of research instrument.
3.7 Method of data analysis.
3.8 Limitation of the study.
CHAPTER FOUR.
4.0 Data Analysis and presentation
4.1 Questionnaire distribution and analysis
4.2 Gender composition of the respondents
4.3 Application of product advertising
to sales programme of the company
4.4 Forms of product advertising of the company
4.5 media used by the company in
advertising its products
4.6 Impact of product advertising on
sales volume of the company
4.7 Relevance of product advertising to realization
of the company’s expected sales volume.
4.8 Impact of product advertising on the company’s sales target
4.9 Significance of product advertising to
profitability of the company.
4.10 Effect of product advertising on customer’s loyalty.
4.11 Effect of product advertising on customer’s buying decision.
4.12 Effect of product advertising on customers’
Buying decision
4.13 significance of product advertising to easy marketability of the company’s products
4.14 testing hypothesis
CHAPTER FIVE
5.0 Summary of findings, recommendation and conclusion.
5.1 Summary of findings.
5.2 Recommendation
5.3 Conclusion
Bibliography
Appendix
CHAPTER ONE
1.1 INTRODUCTION.
Advertising is one of the four promotional tools companies use to direct persuasive communications to consumers or buyers and the general public. Advertising policy constitutes such an important strategy in the marketing programme of companies that, its negligence could spell down for companies.Product Advertisement
Generally speaking, companies exist to produce and market products. This objectives cannot be actualized if the manufactured products are not brought to the knowledge of the consuming public. If the consumers and the general public are not informed and educated on the needs and wants some products could satisfy, they will definitely stay clear of the products.Product Advertisement
Against this background, product advertising focuses on projecting the image and maketability of products in such manner that will make them acceptable to the consumers and buyers.
Odunsi (1998: 19) noted the importance of product advertising when he stressed that the growth being recorded in the advertising field is connected with its potentiality to enhance the acceptability marketability of companies products.Product Advertisement
Product advertising has helped so many companies to revive and reposition some of their products which have almost reached the decline stage in their life cycle.Product Advertisement
Furthermore, the continuous existing survival and growth of companies to some extent depend on the performance of their products and the level of their sales volume. The fact still remains that for a company to decline profit and possibly grow, its sales volume must be high. For its sales volume to be high, its products must be acceptable to the consumers, hence giving rise to their high demand. These can only be achieved when these products are made known to the buyers through advertising.
Product advertising as stressed by Ebue (2000.75) is an effective promotional tool that will not only inform and educate buyers or consumers about a company’s products but highly significant in achieving the targeted sales volume of the company.Product Advertisement
For over fifty (50) years of existence, Nigerian breweries Plc is one of the leading breweries operating in Nigeria today. The company has a wide range of products that includes alcoholic, malt and soft drinks. The notable products in the company’s product mix includes; Golder, star, Amstel malt, maltina, Legend and schepps. The company has a large factory at Agbara, Lagos and a brewery plant at 9th Mile Corner, Ngwo, Enugu. the Company again commissioned its new Ultra – modern brewery in Ama Enugu State in October 27th 2003, by his excellence president Olusegun Obasanjo.Product Advertisement
The Nigerian breweries Plc has depot in most state capitals of the federal to facilitate the distribution of its products. The products of the company are seen and known in every nook and cranny of the southern parts of this country as well as some Northern States.Product Advertisement
According to the Saturday Champion paper May 1st (2004); Nigerian brewing is totally committed to Nigeria cause in areas of Entertainment through a vigorous music sponsorship programme which has brought International Stars like Naught by Nature, Usher, Shaggy and Awilo that have thrilled Nigerians live in recent times courtesy of Nigerian Breweries Star Mega Jam and Legend fun Rampnage. Nigeria Breweries is also involve in discovering and promoting local and budding artists through the star Quest and Star Trek (Star sponsored music programmes.
Foreign Investment; Nigeria Breweries has through their performance attracted some foreign companies like Heineken which invested over 500 millions Euros (70 million).
The company have supported in Institution of higher learning. For example; Education tax funds in which IMT is one of the beneficiaries.
Nigeria Breweries are the major facilitators in the building of a sickle cell foundation. Again they also support various health Institutions through the donations of blood Bank equipment, child incubators.
They have also sponsored sports like football, chess, Golf, cycling, Athletics, table tennis, Lawn tennis. They are also committed in the areas of tax and social responsibility, environment, employment generation and so on. All these are done to promote their products and educate, inform the public about their products and finally to achieve the sales volume target.
1.2 STATEMENT OF THE PROBLEM.
The objective of every company is to achieve its sales volume target, because if achieved, other performance indicators like growth and increase in profitability index would be assured. This could be possible if the company’s products are acceptable to the target market. Product advertising therefore plays the invaluable role of informing and educating buyers or consumers about some products, what these products do and how they can satisfy their needs and wants.
In addition, product advertising enhances the response of potential buyers to an organization and its offering. This it does by providing information, channeling desires, and by supplying reasons for preferring the products being projected.
Inspite of the invaluable role of product advertising in achieving the sales volume target of companies, it still have some problems that need to be addressed.Product Advertisement
It is said to observe that most companies operating in Nigeria are still inflexible and reluctant to be during or encourages in their advertising policy. They are so scared of contracting advertising agency to handle their adverts that at the end of the day they fail to achieve their sales volume target.Product Advertisement
Besides, most companies are inconsistent with their advertising policy. They contract more than one advertising agency at any given point in time.Product Advertisement
This makes difficult to spend some reasonable money on advertising. This is now becoming a common feature in the brewery Industry. For instance, one hardly hears of advert concerning old beautiful products like Maltex and Vita Malt. This should be affecting their sales volume target.Product Advertisement
Finally, the product advertising policy of some companies are not so effective as to enable us have some impact on their sales volume. Some companies do choose some wrong and ineffective media to execute their advertising policy, hence achieving nothing at the end of the day.Product Advertisement
All these above discussed problems deserve to be addressed through the provision of appropriate information, because it is only when effective information concerning a problem is provided will its solution be sought.
1.3 OBJECTIVE OF THE STUDY.
The broad objective of this study is to examine the major effects and the role of product advertising on sales volume. Other operational objectives of the study includes the following;
- To identify the common form of advertising being used in the brewery industry.
- To identify the common media of advertising being used in the brewery industry.
iii. To identify how committed breweries are towards advertising their products.
- To examine the impact of product advertising on the buying attitude of buyers.
- To examine the effect of product advertising on growth and profitability of brewing companies.
- To examine the relevance if product advertising in product survival and performance.
vii. To identify some problems militating against the effective implementation of product advertising in brewing companies and
viii. To make some recommendations based on the findings of the study.
1.4 RESEARCH HYPOTHESIS.
The following hypothesis formulated by the research will be tested in this study;
- Ho; Product advertising has no significant role to play in the sales volume determination.
Hi; Product advertising has a significant role to play in sales volume determination.
- Ho; Effective product advertising cannot lead to significant increase in profitability level of a company.
Hi; Effective product advertising can lead to significant increase in profitability level of a company.
1.5 SIGNIFICANCE OF THE STUDY.
As stated earlier in this study, product advertising is one of the vital tools used by companies to promote the sale of their products. Its importance in creating immediate impact on the attitude of the consumers, as well as in generating demand cannot be over emphasized.Product Advertisement
Again this background, therefore, this study will be of some immense significance to companies, especially breweries, advertising agents, consumers and academicians.Product Advertisement
The information contained in this study will disclose some intrinsic functions of advertising to companies. It will further unveil some unique qualities of advertising, its types and objectives to companies. These vital issues on advertising will help companies design or articulate an effective product advertising policy which can achieve their target sales volume. To companies with chequered advertising policy, the information contained in this study will help them restructure and reformulate it with a view to achieve their objective of increasing demand for their products, actualizing their sales volume target. Moreso, brewing companies will appreciate the information content of this study because it will help them to choose appropriate form of advertising and media to use in implementing their advertising policy.Product Advertisement
Further, advertising agents will equally benefits from the information contained in this study. If not for any other thing, it will help them to fashion out more effective. Ways or means of laising with companies in order to formulate and implement effective product advertising policy for them.
In addition, consumers will find information contained in this study good enough to enable them gain insight in the concept of product advertising, since they are the main focus of companies advertising policy. besides, they will realise the need to always listen and or pay attention to adverts in the media because these may reshape and redefine their buying attitude and decision.Product Advertisement
Finally, other researchers and academicians will derive some gains from the information content of this study. This will help them carry out further research on the subject of this study.Product Advertisement
1.6 SCOPE OF THE STUDY.
This focuses on the role of product advertising on sales volume of breweries. It is carried out using the Nigerian Breweries Plc as its case brewing company. In other words, the study focuses on the advertising policy of the company as it affects its sales volume. Other issues discussed in the study include the types of advertisement and media used by the Nigerian Breweries Plc in carrying out its product advertising policy, the level of commitment of the company towards advertising its products, the impact of the company’s advertising policy on its growth and profitability, and the problems militating against the company’s efforts to implement its advertising policy. the study equally will discloses the recommendations made by the researcher.