EFFECT OF ADVERTISING ON SALES VOLUME OF AN ORGANIZATION
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EFFECT OF ADVERTISING ON SALES VOLUME OF AN ORGANIZATION
Chapter one
1.0 Introduction.
Advertising is any paid type of non-personal communication about an organisation or its product delivered to a target audience via a mass/broadcast medium by a designated sponsor. It should be noted that for any promotional action to be considered an advertisement, it must be paid for.
In reality, it is a tactic utilised by businesses to raise awareness of their products while also introducing new products to new and potential customers.
However, this thesis focuses on the impact of advertising on a product’s sales volume. This investigation will shed light on how advertising may truly influence a consumer’s purchasing decisions in a booming country like Nigeria, as well as how successful advertising can keep firms afloat in the face of fierce competition.
Furthermore, advertising as a promotional technique tends to remind, reassure, and influence consumer decisions because an advertisement informs, educates, and persuades consumers about the acceptability of the product offering.
Advertisements in print (newspapers, magazines, billboards, flyers) and broadcast media (radio, television) often include images, headlines, product information, and, on occasion, a response coupon.
Broadcast advertisements, on the other hand, are audio or video narratives that can range in length from 15-second commercials to larger pieces known as infomercials, which typically last 30 to 60 minutes. (Busari 2002).
Advertisements can also be found on supermarket cart seats, airport walkway walls, and the sides of buses, planes, and trains. Advertisements are typically positioned where an audience has easy and/or frequent access to visual and/or video content. (Busari 2002).
1.1 Background of Study
The basic purpose of an advertiser is to reach out to potential customers and influence their knowledge, attitudes, and purchasing decisions. They invest a significant amount of money to keep individuals (markets) engaged in their products.
To succeed, they must understand why potential consumers behave the way they do. The advertisers’ goals are to collect enough relevant market data to construct accurate profiles of buyers–to locate the common group (and symbols) for communicating.
This entails studying consumer behaviour, including the mental and emotional processes as well as the physical activities of people who buy and use goods and services to meet certain needs and desires. Advertising is any paid type of non-personal presentation and promotion of ideas, goods, or services by a specific sponsor (Kotler and Armstrong, 2010).
There are several types of advertising, including informative, persuasive, comparative, and reminder advertising. Informative advertising is used to educate people about a new product,
service, or future, or to generate main demand. It defines available products and services, corrects misconceptions, and improves the company’s image (Kotler, 2010).
Advertising can be done through print media (newspapers, magazines, brochures), audio media (radio), and visual media (billboards, television) (Kotler and Armstrong 2010).
Sales performance illustrates the revenue trend of collections throughout time (MC Cathy, 1994). Sales may take the form of offering products or services to consumers.
A service is defined as any action or benefit that one party provides to another that is primarily intangible and does not result in ownership of something (Kotler and Armstrong, 2010).
Every organization’s primary goal is to increase sales volume, which is determined by sales and profits.When volume increases, earnings grow, and management in organisations becomes easier.1.1.1 Organisational Profile.
The Nigerian Bottling Company Ltd is one of the country’s largest non-alcoholic beverage companies and The Coca-Cola Company’s sole franchise bottler in Nigeria.
The Nigerian Bottling Company serves about 160 million people by developing and distributing a distinctive portfolio of quality brands, bringing passion to market execution, and displaying corporate social responsibility leadership.
NBC Ltd. began operations in Nigeria in 1951. It is based in Lagos and runs 13 bottling operations throughout the country. In addition, we route products through 59 warehouses and distribution locations. The company employs around 4,800 individuals and indirectly supports the jobs of up to more than a million others in our value chain.
Nigerian Bottling Company wants to be customers’ preferred supplier and runs programmes to help more than 450,000 clients sell their products to consumers.
The company is part of the Coca-Cola Hellenic Group, which is one of the world’s largest bottlers of The Coca-Cola Company’s products, as well as the largest in Europe.
Coca-Cola Hellenic’s operations span 28 countries and serve over 570 million people. The corporation is headquartered in Athens and trades on the Athens, New York, and London stock exchanges.
Products
NBC manufactures, sells, and distributes a wide range of beverages, the majority of which are trademarks of The Coca-Cola Company. Our product portfolio contains:
Leading brands include Coca-Cola, Coca-Cola Light, Fanta, and Sprite.
Local brands such as Schweppes, Five Alive, Limca, and Eva.
The Nigerian Bottling Company is constantly looking for new ways to extend its product variety so that Nigerian consumers have more options. Every effort is made to ensure that its products are of the greatest quality.
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