IMPACT OF PROMOTIONAL ACTIVITIES ON THE PURCHASE OF A COMPANY PRODUCT
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IMPACT OF PROMOTIONAL ACTIVITIES ON THE PURCHASE OF A COMPANY PRODUCT
Abstract
This study aims to investigate “The impact of promotional activities on the purchase of a company’s product,” utilising Nigeria Bottling Company Plc. as a case study. Other goals include demonstrating how promotional activities positively impact the purchase of a company’s goods and the effect these promotional activities have on the purchase of Nigeria Bottling Company’s product.
Primary data were acquired by administering questionnaires and conducting personal interviews with Nigeria Bottling Company employees, customers, and distributors to solicit feedback on the research issue.
Among the findings were that promotional activities had a substantial effect on the purchase of Nigeria Bottling Company’s product, a positive impact on the purchase of the firm’s product, and so on. Based on her findings, the researcher recommended that companies employ promotional materials.
Chapter one
INTRODUCTION
The importance of promotional activities on the purchase of a company’s product cannot be overstated; this has prompted the researcher to write on this topic with the goal of discovering various promotional activities that influence the purchase of Nigeria
Bottling Company’s product and determining whether Nigeria Bottling Company has used any form of promotion about which customers feel particularly strongly.
The researcher chose this issue to gain a better knowledge of the impact of promotional activities on product purchases.
At the conclusion of this assignment, the researcher will have a better understanding of the impact of promotional activities on the purchase of the company’s products. The findings will assist more organisations understand the impact of promotional operations.
This extensive research will highlight promotional tools and tactics, as well as offer the best techniques to be used by the company. As a result, the investigated organisation can utilise this study to determine the advantages and disadvantages of each advertising approach and combine them to meet their objectives.
1.1 Background for the Study
Extensive study has been conducted on promotional actions over time. This is most evident in the importance of promotion in the survival of many local enterprises. Marketers employ promotional activities as a primary means of communicating their aims.
A large amount of material has been created in promotional activities by exceptional people such as Kiley (2012). To be effective, a promotional programme must raise sales, ensure the business’s existence, and improve consumer attitudes towards the product.
In order to attain this goal, companies such as Nigeria Bottling Company use promotional tactics such as advertising, personal selling, sales promotion, publicity, public relations, and direct marketing. However, advertising and sales promotion are the most effective and prominent, and thus the focus of the research.
According to the America Marketing Association (AMA) in 2010, promotion is any way a marketer connects with the general public, particularly the target market.
Marketing push has accepted the term promotional mix or promotional blames to define the tools accessible to engage with and influence current and new customers Belgah, 2008. A promotional mix would include personal selling, advertising, publicity or public relations, and sales promotion.
Various researchers have discovered different effects of promotional activities on the purchase of a company’s products. This research aims to continue this trend by examining the impact of promotional activities on the purchase of a company’s goods.
1.2 Statement of Problem
1. All promotional efforts are designed to increase client loyalty or enhance customer relationships. However, this word has been extensively embraced by Nigerian firms.
2. A connected impact must be created to maximise the effectiveness of all promotional materials in the purchase of a company’s product.
3. This project is designed to investigate how beneficial promotional tools may be to businesses such as Nigeria Bottling Company.
1.3 Research Questions.
1. How have promotional activities affected the purchasing of Nigeria Bottling Company’s product?
2. How have these promotional initiatives influenced the purchase of Nigeria Bottling Company?
3. What are the most effective advertising tools employed by the Nigeria Bottling Company?
1.4 Research Hypothesis
Hypothesis 1.
Hi: Promotional activities have a beneficial impact on the purchasing of Nigeria Bottling Company products.
Hypothesis 2.
Hi: Promotional activities have a substantial impact on the acquisition of Nigeria Bottling Company products.
Hypothesis 3.
Hi: There is a positive association between the most successful promotional tactics employed by Nigeria Bottling Company to promote its products and the growth in sales of those products.
1.5 The purpose of the study
The goal of this research is to obtain a better understanding of promotional activities and to analyse promotional tactics as they have been used by companies.
The research aims are as follows:
1. To investigate the various types of promotional activities that influence the purchase of Nigeria Bottling Company’s products.
2. To assess the impact of these promotions on the purchasing of Nigeria Bottling Company products.
3. Determine the most effective tools for promoting Nigeria Bottling Company’s product.
1.6 Scope of Study
Marketing promotional tactics include advertising, sales promotion, personal selling, publicity, public relations, direct marketing, and so on. This study will examine into how various marketing promotional tactics influence the acquisition of Nigeria Bottling Company’s products. The research will also look into how promotional tools, particularly promotional massages, might be used to strategically gain consumer loyalty.
1.7 Significance of the Study
When done correctly, this research will be extremely valuable to all parties involved.
Nigeria Bottling Company is first on the list of case studies for this project. Other beverage producers in the business, as well as manufacturing companies and representative, motivational enterprises in Nigeria, stand to profit.
Consumers will benefit greatly from this research because their suggestions and criticisms will be considered. Examples include the famous Heinerger beer, which is made by the Nigeria Bottling Company’s Bendel Brewery management.
This research will also help manufacturers determine the appropriate media to employ when promoting the company’s goods to its target market.
Finally, it is vital to note that this research will assist workers, lecturers, and the school because students at the institution who wish to do research on promotion will have access to necessary information.
1.8 Limitations of the Study
Many challenges were overcome while performing this study on the impact of promotional activities on the purchase of a company’s goods.
First, there is a time constraint. There were significant time constraints because the researcher was occupied with other class activities and a seasonal assessment, which required her to have extra time to complete work.
Second, there are budgetary limits in producing this project because to the increased expense of purchasing stationery, typing, and binding the work.
Another issue was consumers and distributors of Coca-Cola products’ reluctance to complete the questionnaire.
1.9 Operational Definitions of Terms
Kotler and Armstrong (2008) define the promotional mix as the combination of advertising, sales promotion, public relations, personal selling, and direct marketing tactics used by a company to effectively express customer value and establish relationships.
According to Ferrel and Hartline (2009), advertising refers to paid, non-personal communication via many media channels, including television, radio, magazines, newspapers, direct mail, outdoor displays, the internet, and mobile devices.
Walker and Stanton (2009) define sales promotion as demand-stimulating actions that enhance advertising and facilitate personal selling.
· Personal selling involves face-to-face interactions with potential customers to make presentations, answer inquiries, and obtain orders (Kotler and Keller, 2008).
· Public Relations: According to the Institute of Public Relations, America (2009), public relations is a planned effort to improve mutual understanding between organisations or individuals and any group or persons with the primary objective of assisting that individual to deserve, acquire, and retain a positive reputation.
· Publicity: A type of public relations that involves sharing new information about an organisation or product (Keegan and Etzel, 2010).
According to Kurtz and Boonze (2009), direct marketing involves connecting with a specific consumer in order to get an immediate response and build long-term customer relationships.
Kotler and Keller (2012) define a product as anything offered to the market to meet a need or want.
· Consumer Goods: Products purchased for personal consumption (Pride and Ferreel, 2009).
According to McDaniel (2008), promotion is a sort of communication that includes persuasion to embrace ideas, products, and services. Persuasive communication is the third part of the marketing mix.
According to Momoh (2013), integrated marketing communication encompasses all types of communication used to promote a product or service to a specific target group.
· Viral marketing.
Creating a successful viral marketing event, such as a website, video, email, or text message, encourages customers to share it with their friends.
· Product life cycle refers to a product’s sales and profit over its lifetime. It has five stages: product development, launch, growth, maturity, and decline (Kotler, Armstrong, Saunders, & Wong, 2010).
· Media refers to non-personal communication methods such as print (newspapers, magazines, direct mail), broadcast (radio, television), and display (billboards, signs, posters) (Kotler and Armstrong, 2009).
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