BENEFIT OF SALES PROMOTION AND ADVERTISEMENT IN PROMOTING ORGANIZATION PRODUCTS
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BENEFIT OF SALES PROMOTION AND ADVERTISEMENT IN PROMOTING ORGANIZATION PRODUCTS
Abstract
This study focused on the benefits of sales promotion and advertising in promoting an organization’s products. The study’s entire population consists of 200 staff members from Promasidor Nig Ltd. The researcher employed questionnaires to collect data.
The descriptive survey research design was used for this investigation. The survey included 133 respondents who worked as managers, production managers, senior staff, and junior staff. The acquired data were displayed in tables and analysed with simple percentages and frequencies.
Chapter one
Introduction
Background of the study.
Organisations are today experiencing rapid development and frequently disruptive transformations as a result of contemporary information technology and technical advancements. Sales promotion and advertisement include short-term incentives to increase sales and advertising of products or services. Kotter & Amstrong (2004).
According to Dennis (1993), sales promotion and advertisement are marking activities other than personal selling and public relations that encourage consumer purchase and dealer effectiveness, such as display shows.
Organisational profitability, on the other hand, refers to increasing the profit generated by a business or by selling goods, particularly after paying the costs associated. The organisation must communicate with its genuine prospective busters. This is vital because if you don’t announce “I am here,” no one would know you’re there.
As a group of possible events, there is a requirement for product differentiation, which is difficult to achieve in the communication system. It is critical to conduct sales promotion activities such as pricing, cut, and trade stamp coupons, premium, context, free trail products, and so on in order to generate high sales and motivate people to purchase their products.
If an organisation has well-designed products, it will be tough for them to purchase those products, which will be of no benefit to society. Many organisations and religious groups are increasingly involved in advertising and sales promotion, and they are spending large sums of money on it.
The cause is the drive for short-term profit, accountability factors, market changes, and the growing power of retailers and consumers. Organisations invest money in advertising and sales promotion,
which yields immediate results in higher profits. In this context, advertising and sales promotion are discussed in terms of how they affect an organization’s overall revenues.
Statement of the Problem
Many companies or organisations that provide similar services face difficulties from their competitors. To avoid going out of business, an organisation must conduct advertising and sales promotions that allow it to maintain a market share.
This study, conducted in the company “promasidor Nig LTD,” will critically examine the following in order to determine whether advertising and sales promotion may be employed as an effective marketing tool.
1. How can the company’s profitability be achieved and maintained?
2. How sales promotion and advertising will be an effective strategy for the company’s profitability.
3. The importance of sales promotion/advertising profitability.
4. How businesses can employ sales promotions and advertising.
The objectives of the study
The study’s aims are:
To determine whether sale promotions and advertisements can serve as an effective strategy for corporate profitability.
To determine how the company can use sales promotions and advertisements.
To determine whether sale promotions can be employed as an effective marketing technique.
Research Hypotheses
HO: Sale marketing and advertising cannot be a successful instrument for corporate profitability.
Hello: sale marketing and advertising can act as an effective instrument for company profitability.
Hypothesis Two
HO: Sale promotions cannot be employed as an efficient marketing tactic.
Ho: sale promotions can be utilised as a successful marketing tactic.
Significance of the Study
The study’s relevance is as follows:
1. It will assist the organisation in determining which advertising and promotional tactics to use in order to increase profitability.
2. The study will bring the organisation and its customers closer together, allowing the organisation to better understand their test preferences and demands.
3. This study will also assist management in determining whether advertising and sales promotion can enhance sales volume.
4. Finally, the study will let the consumer understand the utility of consuming the organization’s product.
Scope and limitations of the study
The study’s focus includes the benefits of sales promotion and advertising in promoting organisational products (a case study of Promasidor Nig Ltd). The researcher faces various constraints that limit the scope of the investigation;
a) AVAILABILITY OF RESEARCH MATERIAL: The researcher has insufficient research material, which limits the investigation.
b) TIME: The study’s time frame does not allow for broader coverage because the researcher must balance other academic activities and examinations with the study.
1.7 Definition of Terms
SALES PROMOTION: This is a temporary offer of alternative prices and enticement incentives to buyers. These incentives include offering free sample trade stamps, trade fairs, bonaza’s price offers, etc. (Busarietial 2002).
ADVERTISEMENT: This is typically defined as any paid type of non-personal presentation and promotion of values, commodities, or services by an identifiable sponsor. Anyanwu (2000) uses the three views of advertisement (society, customer, and business) to provide a more comprehensive definition.
He characterised advertisement as “primary tools in the marketing decision variable firms used to inform, persuade, and educate customers about product offerings by an identified sponsor with a view to developing performance for the product and service.”
ORGANISATION PROFITABILITY: This is the efficient and effective utilisation of scarce resources to generate profit.
FREE SAMPLE: This is the product offered to individuals to see how the material is and what it can do for them, in order to entice customers to use the product and service provided.
PROMOTION: This is the third component of the marketing mix. It includes all of the activities carried out by an organisation to attract the attention of clients or consumers to its services.
MARKETING: This is the practice of conducting business activities that direct the flow of goods and services from the producer to the consumers or users.
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