THE EFFECTIVENESS OF ADVERTISING ON ORGANIZATIONS PROFIT MAXIMIZATION (A CASE STUDY OF SOME SELECTED HOTELS IN ENUGU URBAN)
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This research work is a survey on the effectiveness of Advertising in the maximization profit, with survey of some selected hotel business in Enugu Urban. Among the objectives of this study is to find out whether the advertisement on hotel services and products actually lead to profit increase. This problem I necessary in view of the fact that some people do believe that hotels could go on with their businesses with or without advertising.
Respondents were randomly selected from Enugu metropolis and the data they provided were analyzed with simple percentage and the statistics techniques. The result obtained indicated the effective advertising is a necessary stimulant of profit maximization in hotel business.
It also shows that the awareness level of hotel advertising by the public is low. The study was able to show that television remains the most fastest medium of hotel advertising, closely followed by Radio.
Finally with some recommendations proffered. The conclusion was also drawn based on the result of the findings.
TABLE OF CONTENTS
BACKGROUND OF THE STUDY
1.2 Statement of problem
1.3 Objective of the study
1.4 Research questions
1.5 Research hypothesis
1.6 Significance of the study
1.7 Scope of the study
REVIEW OF LITERATURE
2.2 Summary of the review
RESEARCH DESIGN AND METHODOLOGY
3.1 Sources of data
3.2 Sample size
3.3 Sample selection techniques
3.4 Limitations of the study of data analysis techniques
DATA PRESENTATION AND ANALYSIS
4.1 Questionnaire distribution and returns
4.2 Analysis of data
Summary, discussion, recommendation and conclusion
BACKGROUND OF THE STUDY
Prior to the era of industrial revolution, the pattern and method of salesmanship was both crude and cumbersome because the gap between the productive and consumption sectors of society was small and manageable. However with the present complication and sophistication among both the producers and consumers occasioned by high level of economic and technological developments, business are now re-shaping, re-focusing, re-positioning and re-directing their operations and marketing strategies in order to face obvious challenges posed but modern day marketing.
Every business concern has a major objectives for which it was established but whatever may be the goal, the overriding force undoubtedly remains profit maximization.
To accomplish the foretasted, these business make conscious efforts of findings out what their customers want, producing them, creating the needed awareness on the availability of these goods and services and offering them at the right place, time and cost. It is by so doing that such a business can assuredly claim greater percentage of the market share and at the center of these activities is the pivot, the stimulant, the propelled, the sole of business called advertisement.
Advertising as one of the strangest promotional tool remains a strong force in the hands of business entities. A popular saying has it that, if you do not blow your triumph, no body is going to do that for you, for only when actually know where you are. Advertising does this and more for organizations especially the hotel business. It creates awareness, package the product services etc. present it to the intended consumer and assists him in making the right choice.
The following definitions and opinions by some authorities and schools of thought on the meaning and roles of advertising, will perhaps give more insight into the concepts.
According to Staton W.I, advertising consists of all the activities in presenting
to a group of non-personal oral or visual openly sponsored message regarding a
products services or idea.
Jones (1955:14) sees it this way: in England in the early days of the point to twin the attention of voters.
The American marketing association (AMA) defines it as:
An paid form of non- personal presentation and promotion of ideas and services by an identifies sponsor.
The advertising Age (1932:4) an Ad magazine) has a summary of the views of some professionals in the filed thus: advertising is the printed written spoken or pictured representation of a person, product, services or movement openly sponsored by the advertiser and at his expense for the purpose of influencing sale, use vote or endorsement
Finally, Starch (1966:2) sufficiently defines advertisement as: the paid
form of mass communication designed to influence people to favour a product in order to induce them to buy it.
From the foregoing definitions and views we can begin to see that advertisings has the following more purpose for business, especially the hotel entities:
- To create awareness on the availability of a product uses, vote. Person, idea, etc.
- To educate the target user on the constituents of what is being advertised.
- To offer other services, such as how to use the product, where to get it, what the cost is etc.
- To induce sales.
- Ultimately to increase and maximize profit thereby enhancing the revenue base of the business –hotel
These (above) are only a tip of the iceberg on what advertising is capable doing for hotel business.
1.2 STATEMENT OF PROBLEM
Hotel businesses market their goods and services to both internal and external publics in order to real profit for further survival and growth of the variables. Advertising as one of the variable of the marketing communication helps in actualizing not only marketing objectives of the organization
It is however, said to note that some hotels especially in Enugu urban hardly utilize or avoid themselves of the unique services offered by modern advertising. In some cases, it is hard to identify the location of these hotels what they offer, their modus operandi and the likes to such (these hotels) the minimal revenue accruing to the business is enough. Therefore to involve advertising is to insure unnecessary cost, they ignorantly consider advertising a chasmal waste of time and resources. This indeed is a sad commentary.
The unavoidable consequences are:
- These hotels remain perpetually hidden and unknown.
- They end up operating below their capacities.
- Business yields continually decrease over the years.
- Some end up paying the supreme sacrifice of untimely demise.
It is therefore the intention of this study to critically review the likely benefits hotel business will make in terms of profit maximization by availing themselves and using the communication tool of advertising.
1.3 OBJECTIVES OF THE STUDY
The prime objective of this study is to find out the effectiveness of advertising in profit maximization of hotel business in Enugu metepolis.
Additionally, the study will also aim at the following th determine the general impact of advertising on consumers.
To determine the extent of consumer awareness of hotel advertisement.
To identify what consumer patronage of these hotels are as a result of advertising.
To make recommendations in line with our observations.
1.4 RESEARCH QUESTION