IMPACT OF PRODUCT ADVERTISING ON SALES VOLUME OF CONSUMERS
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IMPACT OF PRODUCT ADVERTISING ON SALES VOLUME OF CONSUMERS
ABSTRACT
Product advertising has a considerable impact on consumer sales volume. This viewpoint was supported by 75% of the respondents used by the researcher in this survey.
This simply means that effective product advertising might result in an increase in product advertising on consumer sales volume, but poor product advertising will result in a decrease in consumer sales volume.
That product advertising is not only relevant to the realisation of the expensed product advertising on consumer sales volume, but it also has an impact on the company’s sales target.
In fact, 66.07% of respondents said that product advertising is extremely important to achieving the company’s planned sales volume, while 60.71% said that product advertising has a substantial impact on the company’s sales targets.
The researcher discovered that for the corporation to achieve its predicted sales volume and objective, its product advertising strategy or policy must be extremely effective.
Based on the study’s findings, the researcher finds that product advertising has a considerable impact on a company’s sales volume. Its efficacy boosts company sales volume.
There are various impediments to the effective application of the company’s (Nigeria Breweries Plc) product advertising policy, which was analysed.
These limits, however, might be eliminated or reduced to the next minimum, allowing the company to achieve its planned sales volume if the researcher’s proposal is followed.
Chapter one
INTRODUCTION
1.1 Background of the Study
Advertising is a valuable promotional strategy used to promote and market organisational products. It is critical for effective product or service marketing.
Companies exist primarily to manufacture and market items. This goal cannot be realised unless the created products are brought to the attention of the general audience.
If consumers and the general public are not informed and educated about the requirements and desires that some products can meet, they will undoubtedly avoid the products.
Against this backdrop, product advertising focuses on conveying the image and maketability of items in a way that makes them appealing to consumers and customers.
Odunsi (1998: 19) emphasised the importance of product advertising, stating that the growth in the advertising industry is linked to its ability to improve the acceptance and marketability of a company’s products.
Product promotion has assisted numerous businesses in reviving and repositioning items that have nearly reached the end of their life cycles.
Furthermore, the continued survival and growth of businesses is in some ways dependent on the success of their products and the volume of their sales revenue. The truth is that for a corporation to lose money and possibly grow, sales revenue must be significant.
To generate a high sales revenue, its products must be appealing to consumers, resulting in strong demand. These goals can only be met if these products are promoted to potential purchasers through advertising.
Ebue (2000.75) emphasises that product advertising is an effective promotional strategy that will not only teach and educate buyers or consumers about a company’s products, but will also play a vital role in achieving the company’s goal sales income.
For over fifty (50) years, a Nigerian brewery Plc has been one of Nigeria’s premier breweries. The company offers a wide variety of beverages, including alcoholic, malt, and soft drinks. The company’s product mix includes prominent brands such as Golder, Star, Amstel malt, maltina, Legend, and Schepps.
The company has a huge facility in Agbara, Lagos, and a brewery plant at 9th Mile Corner, Ngwo, Enugu. On October 27, 2003, His Excellency President Olusegun Obasanjo commissioned the Company’s new ultra-modern brewery in Ama, Enugu State.
Statement of the Problem
Adverting is highly crucial in the efficient marketing of products or expressive; it allows the company to dramatise its offering through the artful use of visual, print, and colour. It is utilised to create a long-term image of the product for the consumer.
Despite the fact that product promotion plays a vital role in helping organisations meet their sales revenue targets, there are several issues that must be addressed.
It is believed that most companies operating in Nigeria are still rigid and unwilling to engage or encourage their advertising agency to handle their advertisements, resulting in failure to meet their sales income targets.
Furthermore, most businesses are inconsistent in their advertising policies. They use more than one advertising firm at any given moment.
This makes it tough to spend a reasonable amount on advertising. This is becoming a typical occurrence in the brewery industry. For example, one rarely hears of advertisements for classic, elegant products such as Maltex and Vita Malt. This should effect their sales income target.
Finally, some companies’ product advertising policies are ineffective, allowing us to have an impact on their sales revenue. Some companies use the inappropriate and ineffective media to carry out their advertising strategy, resulting in nothing at the end of the day.
All of the difficulties mentioned above deserve to be addressed by providing suitable information, because only when effective information about a problem is provided will a solution be sought.
OBJECTIVE OF THE STUDY
The overall goal of this study is to investigate the key effects and role of product advertising on sales income. Other operational goals of the study include the following:
1. Identify the most prevalent types of advertising utilised in the brewery industry.
2. Identify the most typical forms of advertising utilised in the brewing business.
3. Determine how committed brewers are to publicising their products.
4. To investigate the effect of product promotion on purchasers’ purchasing attitudes.
5. To investigate the impact of product advertising on the growth and profitability of brewing businesses.
6. To investigate the significance of product advertising in product survival and performance.
7. Identify some issues impeding the effective application of product advertising in brewing enterprises and
8. Make recommendations based on the study’s findings.
RESEARCH HYPOTHESIS.
Hypothesis 1.
Ho: Product advertising plays no important impact in
Determine sales revenue.
Hi; Product advertising plays a crucial function
Sales revenue determination.
Hypothesis 2.
Ho: Effective product advertising cannot lead to
A huge improvement in the company’s profitability level.
Hello; Effective product advertising can result in considerable
Increase a company’s profitability level.
Hypothesis 3.
Ho: Product promotion has no impact on sales targets.
of the company.
Hello: Product advertising has an impact on the sales target.
The corporation.
Hypothesis 4
Ho: Effective product advertising plays no important role
the achievement of the company’s profit aim.
Hello: Effective product advertising plays a huge effect on
the achievement of the company’s profit aim.
The above hypothesis, developed by the research, will be tested during the study.
Significance of the Study
As previously stated in this study, product advertising is an important tactic used by corporations to increase the sale of their products. Its value in influencing consumer attitudes and generating demand cannot be overstated.
Given this background, this study will be extremely valuable to businesses, particularly breweries, advertising agencies, consumers, and academics. The facts presented in this study will reveal some of the intrinsic purposes of advertising to businesses.
It will also reveal some of the distinctive characteristics of advertising, as well as its sorts and goals for businesses. These critical advertising challenges can assist businesses in developing or articulating an effective product advertising programme that will allow them to meet their sales revenue targets.
The facts presented in this study will assist companies with a chequered advertising policy in restructuring and reformulating it in order to achieve their goal of raising demand for their products and meeting their sales revenue target.
Furthermore, advertising agents will profit from the information presented in this study. If nothing else, it will allow them to create more effective designs. Ways to collaborate with businesses in order to develop and implement a successful product advertising policy for them.
Furthermore, because consumers are the primary target of a company’s advertising policy, the information presented in this study will be sufficient to provide them with insight into the notion of product advertising.
Furthermore, they will recognise the need of always listening to and paying attention to advertisements in the media because they have the potential to reshape and redefine their purchasing attitude and decisions.
Finally, other researchers and academicians will benefit from the knowledge presented in this study. This will help them conduct additional research on the topic of this study.
SCOPE OF THE STUDY:
This focuses on the impact of product advertising on breweries’ sales income. It is carried out with Nigerian Breweries Plc as the case brewing firm. In other words, the study focuses on the company’s advertising policy and how it influences sales income.
Other topics covered in the study include the types of advertisements and media used by Nigerian Breweries Plc to carry out its product advertising policy, the company’s level of commitment to advertising its products,
the impact of the company’s advertising policy on its growth and profitability, and the issues impeding the company’s efforts to implement its advertising policy. The report will also share the researcher’s recommendations.
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