THE ROLE OF PRODUCT ADVERTISING ON SALES VOLUME OF COMPANIES
(A CASE STUDY OF NBL)
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ABSTRACT
This study was carried out by the researcher to examine and ascertain the role product advertising plays on sales volume of companies. The study examines the twin problems of inconsistency and inflexibility in the advertising policy of companies.
The researcher used the survey research design to execute this study. The population used by the research or for this study consisted of all the workers of the Nigerian Breweries Plc. At 9th mile corner, Ngwo in Enugu State.
The researcher used the systematic simple random sample techniques to select the sample used for the study.
The researcher used the Yaro Yainene’s formular for sample size determination to determine the sample size for the study
The researcher used the measurement tool (the questionnaire) as the major data collection instrument for this study.
Out of the 119 questionnaires administered by the researcher, 112 were returned and percentages to present and water interpret the data they generated for this study while they used the test for questionnaire content.
TABLE OF CONTENTS
CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
STATEMENT OF PROBLEM
OBJECTIVE OF STUDY
RESEARCH HYPOTHESIS
SIGNIFICANCE OF THE STUDY
SCOPE OF T HE STUDY
LIMITATION OF STUDY
DEFINITION OF TERMS
CHAPTER TWO
LITERATURE REVIEW
CHAPTER THREE
DESIGN OF THE STUDY
POPULATION OF THE STUDY
SAMPLE SIZE
SAMPLING PROCEDURE
SELECTION AND CONSTRUCTION OF RESEARCH INSTRUMENT
ADMINISTRATION OF RESEARCH INSTRUMENT
METHOD OF DATA ANALYSIS
CHAPTER FOUR
PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA
TEST OF HYPOTHESES
CHAPTER FIVE
SUMMARY OF FINDINGS
RECOMMENDATION
CONCLUSION
BIBLIOGRAPHY
QUESTIONNAIRES
CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
Advertising is one of the four promotional tools companies use to direct persuasive communications to consumers or buyers and the general public. Advertising policy constitutes such an important strategy in the marketing programme of companies that its negligence could spell down for companies.
Generally speaking, companies exist to produce and market products. This objectives cannot be actualized if the manufactured products are not brought to the knowledge of the consuming public. If the consumers and the general public are not informed and educated on the needs and wants, some products could satisfy; they will definitely stay clear of the products.
Against this background, product advertising focuses on projecting the image and marketability of products in such manner that will make them acceptable to the customers and buyers. Odunsi (1998:19) noted the important of product advertising when he stressed that growth being recorded in the advertising field is connected with its potentiality to enhance the acceptability and marketability of companies’ products. Product advertising has helped so many companies to revive and reposition some of their products which have almost reached the decline stage in their life cycle. Furthermore, the continuous existence, survival and growth of companies to some extent depend on the performance of their products and the level of their sales volume. The fact still remains that for a company to declare profit and possibly grow, its sales volume must be high. For its sales volume to be high, its product must be acceptable to the consumers hence giving rise to their high demand.
These can only be achieved when these products are made known to the buyers through advertising.
Product advertising as stressed by Udeagha (1995:219) is an effective promotional tools that will not only inform and educate buyer or consumers about a company’s products, but highly significant in achieving the targeted sales volume of the company.
The Nigerian Breweries Plc. Is one of the leading breweries for over 50 years of existence, operating in Nigeria today.
The company has a wide range of products that include alcohol, malt and soft drinks. The notable products in the companies product mix include, Gulder, Star, Amstel malt, Maltina and Schweppes.
The company has a large factory at Agbana, Lagos and a brewering plant at 9th Mile Corner, Ngwo in Enugu.
The company has already started constructing what seems to be the largest factory and brewery in Africa between Eke and Ngwo in Enugu State.
The Nigeria Breweries Plc. Has depot inmost state capital of the federation to facilitate the distribution of its products.
The products of the company are seen and known in every mook and cranny of the southern part of this country, as well as in some northern states.
STATEMENT OF THE PROBLEM
The objective of every company is to achieve its sales volume target, because, if achieved, other performance indicators like growth and totally committed to Niger curse e.g. Entertainment.
As a company that has been in the business of leisure, pleasure and fun for over 50years; Nigeria Breweries Plc has been a major force in the entertainment industry through a vigorous music sponsorship programmes.
The underlying philosophy is to bring world classes entertainment to Nigeria to support the role of out brands. International stars like Naught Nature, Usher; shaggy and Awilo have thrilled Nigerians live in recent time courtesy Nigerian.
Breweries star mega join and legend fun Rampage Nigeria breweries is also involve in discovering and promotional local and budding artistes through the star Quest and star Trek (star sponsored music programmes). This is to give Nigeria entertainers presence in the international science, Nigerian brewery totally committed to Nigeria curse
– Tax/social responsibility
– Foreign investors: over 50 millo Euros (N706) was invested in Nigeria by Heineken
– Employment generation
– Environment
– To support educational in Nigeria: help in dunding of educational and research facilities in institution of high learning e.g. Edu, TCR Fund
– Health: they are the major facilitators in the building of sickle cell antive by the sickle cell foundation. Again they also support various health institutions through the donation of Blood Bank equipment, child incubators, Boreholes.
– Sports: They sponsor sports like football, chess cycling, athletics, Golf, Table tennis, Law tennis.
Increase in profitability index would be assured. This could be possible or achieved if the company’s product are acceptable to the target market.
Product advertising therefore plays the invaluable role of informing and educating buyer or consumers about some products, what the products do and how they can satisfy their needs and wants.
In addition, product adverting enhances the response of potential buyers to an organization and its offerings. This it does by providing information, channelizing desires and by supplying reasons for preferring the product being projected.
In spite of the invaluable role of product advertising in achieving the sales volume target of companies, it still grapples with some problems that need to be addressed.
It is sad to observe that most companies operating in Nigeria are still inflexible and reluctant to be doing or courageous in their advertising policy. They are so scared of contracting advertising agency acting advertising agency to handle their adverts that at the end of the day they fail to achieve their sales volume target. Now with the commissioning of its new ultra-modern brewery in Ama Enugu State, unique for its size design and they are still set to impact eve3n more positively in the lives of Nigerian. Besides, most companies are inconsistent with their advertising policy.
They contract more than one advertising agency at any given point in time. This makes it difficult to spend same reasonable money on advertising. This is now becoming a common feature in the brewery industry. For instance, one hardly hears of advert concerning old beautiful product like maltex and vita malt. This should be affecting their sales volume target.
Finally, the product advertising policy of some companies are not so effective as to enable it have some impact on their sales volume. Some companies do choose some wrong and ineffective media to execute the advertising policy, hence achieving nothing a the end of the day.
All these afore-discussed problems deserve to be addressed through the provision of appropriate information, because, it si only when effective information, concerning a problem is provided, will its solution be sought.
OBJECTIVE OF THE STUDY