ROLE OF PRODUCT ADVERTISING ON SALES VOLUME OF COMPANIES
Need help with a related project topic or New topic? Send Us Your Topic
DOWNLOAD THE COMPLETE PROJECT MATERIAL
ROLE OF PRODUCT ADVERTISING ON SALES VOLUME OF COMPANIES
ABSTRACT
The researcher conducted this study to investigate and determine the impact of product advertising on company sales volume.
The study looks at the dual concerns of inconsistency and inflexibility in company advertising policies.
The researcher conducted this study using a survey research design.
The research or study population comprised of all Nigerian Breweries Plc staff. At 9th Mile Corner, Ngwo, Enugu State.
The researcher selected the study’s sample using systematic simple random sampling approaches.
To establish the sample size for the study, the researcher employed Yaro Yainene’s formula.
The researcher employed the questionnaire as the primary data gathering strategy for this investigation.
Out of the 119 questionnaires administered by the researcher, 112 were returned, and percentages were utilised to present and evaluate the data they created for this study while using the test for Chapter One.
INTRODUCTION
Background of the study
Advertising is one of four promotional methods that businesses employ to direct persuasive communications to consumers, buyers, and the broader public. Advertising policy is such an important approach in a company’s marketing programme that failure to implement it could have disastrous consequences.
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 needs and wants that some items may meet, they will most likely avoid the products.
Against this backdrop, product advertising focuses on portraying the image and marketability of items in a way that makes them appealing to clients and buyers. Odunsi (1998:19)
emphasised the importance of product advertising, stating that growth in the advertising industry is linked to its potential to improve the acceptance and marketability of companies’ 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 existence, survival, and expansion of businesses are in some ways dependent on the success of their products and the amount of their sales volume. The truth is that for a company to declare a profit and perhaps grow, its sales volume must be significant. To increase sales volume, the product must be acceptable to consumers, resulting in strong demand.
These goals can only be met if these products are promoted to potential purchasers through advertising.
Product advertising, as underlined by Udeagha (1995:219), 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 key role in achieving the company’s target sales volume.
Nigerian Breweries Plc. has been a significant brewer for over 50 years and continues to operate in Nigeria today.
The company offers a wide variety of products, including alcohol, malt, and soft drinks. The company’s notable products include Gulder, Star, Amstel malt, Maltina, and Schweppes.
The company operates a major facility in Agbana, Lagos, and a brewing plant in 9th Mile Corner, Ngwo, Enugu.
The business has already begun construction on what appears to be Africa’s largest factory and brewery, between Eke and Ngwo in Enugu state.
Nigeria Breweries Plc. has a facility in the federation’s most populous state capital to facilitate product delivery.
The company’s products can be found and recognised in every nook and crevice of the country’s southern region, as well as several northern regions.
Statement of the Problem
Every company’s goal is to meet its sales volume target since doing it would result in other performance indicators such as growth and complete commitment to the Niger curse, such as entertainment.
Nigeria Breweries Plc, a corporation that has been in the business of leisure, pleasure, and fun for over 50 years, has been a key force in the entertainment industry thanks to strong music sponsorship activities.
The basic philosophy is to offer world-class entertainment to Nigeria to complement the role of our brands. International stars such as Naught Nature, Usher, Shaggy, and Awilo have recently entertained Nigerians courtesy of Nigerian.
Breweries star mega joins renowned fun Rampage. Nigerian brewers are also involved in discovering and promoting local and emerging artists through star Quest and star Trek (star-sponsored music programmes). This is to offer Nigeria artists presence in the international science, and Nigerian brewery is entirely committed to Nigeria curse.
– Tax and social responsibility.
– Foreign investors: Heineken invested more than 50 million euros (N706) in Nigeria.
– Employment generation
– The environment
– To support education in Nigeria: assist in the development of educational and research facilities in higher education institutions, for example. Edu, TCR Fund
– Health: They are significant facilitators in the sickle cell foundation’s efforts to produce sickle cell antive. Again, they help numerous health organisations by donating blood bank equipment, child incubators, and boreholes.
– Sports: They sponsor football, chess, cycling, athletics, golf, table tennis, and lawn tennis.
An increase in the profitability index is assured. This may be conceivable or achieved if the company’s products are appealing to the target market.
Product advertising thus serves a vital role in informing and educating buyers or consumers about certain items, what they do, and how they might meet their requirements and desires.
Furthermore, product advertising improves the response of potential customers to an organisation and its goods. This is accomplished by providing knowledge, channelling wants, and creating reasons to prefer the product being advertised.
Despite its vital role in helping organisations achieve their sales volume targets, product promotion nevertheless faces significant challenges that must be addressed.
It is unfortunate that the majority of corporations operating in Nigeria remain inflexible and unwilling to be innovative or bold in their advertising policies. They are so afraid of hiring an advertising agency to manage their advertisements that, in the end, they fail to meet their sales volume goals.
Now, with the completion of its new ultra-modern brewery in Ama, Enugu State, which is unique in size and design, they are poised to make an even greater beneficial effect in the lives of Nigerians. 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 respectable amount of money on advertising. This is becoming a typical occurrence in the brewery business.
For example, one rarely hears of advertisements for classic, elegant products such as maltex and vita malt. This should effect their sales volume aim.
Finally, some companies’ product advertising policies are not effective enough to have an impact on their sales volume. 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 aforementioned issues deserve to be handled through the supply of suitable information, because it is only by providing effective knowledge about a problem that a solution will be sought.
OBJECTIVE OF THE STUDY
The overarching goal of this study is to investigate the significant impact and role of product advertising on sales volume. Other operational goals of the study include the following:
i. Identify the usual method of advertising utilised in the brewing business.
ii. Identify the most prevalent advertising media utilised in the advertising sector.
iii. Determine how committed brewers are to publicising their products.
iv. To investigate the impact of product promotion on the purchasing attitude of buyers
v. Investigate the impact of product advertising on the growth and profitability of brewing enterprises.
vi. Examine the relevance of product advertising in product survival and performance.
vii. Identify certain obstacles impeding the effective application of product advertising in brewing enterprises; and
viii. Provide recommendations based on the study’s findings.
Research Hypothesis
This study will test the researcher’s hypotheses listed below.
i. Ho: Product promotion plays no substantial role in determining sales volume.
Hello: Product advertising plays a crucial impact in determining sales volume.
ii. Ho: Effective product advertising does not significantly boost a company’s profitability.
Hi: Effective product advertising can significantly boost a company’s profitability.
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 having an instant impact on consumer purchasing attitudes as well as 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 several crucial aspects of advertising for businesses. It will also reveal certain distinctive characteristics of advertising, such as its sorts and objectives for businesses.
These critical challenges in advertising can assist businesses in designing or articulating a successful product advertising policy that will allow them to meet their sales targets.
The facts presented in this study will assist companies with a troubled advertising policy in restructuring and reformulating it with the goal of raising demand for their products and meeting their sales volume target.
Furthermore, brewing firms will benefit from the information contained in this study, as it will assist them in selecting acceptable forms of advertising and media to implement their advertising programme.
Furthermore, advertising agents will profit from the information presented in this study, if for nothing else, because it will assist them in developing more successful methods of interfacing with corporations in order to establish and implement effective product promotion policies for them.
Furthermore, customers will find the material in this study useful in gaining an understanding of the notion of product advertising, as they are the primary focus of a company’s advertising policy.
Furthermore, students will realise 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 profit 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 article focuses on the impact of product advertising on breweries’ sales volume. 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 affects sales volume.
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 paper also exposes the researcher’s recommendations.
Limitations of the Study
Generally speaking, researchers have some limits when carrying out academic work(s) or investigations. Given this clear reality, it is not surprising to observe that the researcher met several constraints when carrying out this investigation. The key constraints encountered by the researcher over the course of this investigation are as follows:
i. The unpleasant attitude of the workforce of Nigerian Breweries Ltd.
b. Limited financing or funds
iii. Stress, both mental and physical.
The researcher had some issues removing some
This study relied heavily on responses from Nigerian Breweries Plc employees.
These respondents were originally hostile towards the researcher, therefore
refused to answer her inquiry.r Questionnaire Content.
Need help with a related project topic or New topic? Send Us Your Topic