ADVERTISING AN EFFECTIVE PROMOTIONAL TOOL FOR MARKETING NEW PRODUCT

ADVERTISING AN EFFECTIVE PROMOTIONAL TOOL FOR MARKETING NEW PRODUCT
(A Case Study of NASCO Marketing Company)

 

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ABSTRACT

Promotional mix variables differ in effectiveness in generating consumer interest and influencing purchase decision. In this study, an attempt is made to evaluate the effectiveness of advertising, one of the promotional mix element used by NASCO group of companies, Jos. Current, NASCO household products are market leaders in most part of the country . this study reveals the extent to which advertising is considered a central in delivering the company’s corporate objectives. The population for this study consist of (1,000) out of which a sample size of one hundred and Ten (110) is chosen for this study. In addition the following hypothesis have been tested and proven in this project:Ho: Advertising is insignificant in the new product development and marketing process especially in NASCO group of companies Jos. H1 Advertising is significant in the new product development and marketing process especially in NASCO group of companies Jos. Based on the test carried out using the chi-square techniques the calculated x2 hypothesis has a higher rating of 15.3, than the tabulated value and thus H1 is accepted. The study further found that despite the important role of advertising in influencing customer purchase decision on NASCO products, the over reliance on TV commercial advertising is not ultimate as other advertising media are also important in a competitive marketing environment like Nigeria. It is thus, recommended that urgent steps must be taken to asses media preferences of consumers with a view to adopting other effective media strategy for the company.

TABLE OF CONTENT

CHAPTER ONE

  • Introduction –       –       –       –       –       –       –       –       – 1

1.1    statement of problem         –       –       –       –       –       –       – 2

  • Objective of study –       –       –       –       –       –       –       – 3
  • Significant of study –       –       –       –       –       –       –       – 4
  • Scope of the study –       –       –       –       –       –       –       – 4
  • Limitation of the study –       –       –       –       –       –       – 5
  • Statement of hypothesis –       –       –       –       –       –       – 6
  • Definition of terms and concepts. – –       –       –       –       – 7

 

CHAPTER TWO

  • Review of related literature –       –       –       –       –       – 10

2.1    definition and concept of advertising          –       –       –       – 10

  • Concept of advertising –       –       –       –       –       –       – 12
  • The proportion of income to be allocated for advertising a product. –       –       –       –       –       –       –       –       –       – 15
  • What is a new product –       –       –       –       –       –       – 18
  • Classification of new product –       –       –       –       — 19
  • Why the need for new product –       –       –       –       – 21     –       –

 

CHAPTER THREE

  • Research methodology –       –       –       –       –       –       – 25

3.1    definition of target population and sample size –         –       – 25

  • Definition of collected methods – –       –       –       –       – 26
  • Primary data (a) the questionnaire

(b) personal interview   –       –       –       – –       26

  • Statement of hypothesis –       –       –       –       –       –       – 29
  • Description of data analysis procedures –       —      –       – 30

 

CHAPTER FOUR :Presentation And Analysis

  • Introduction –       –       –       –       –       –       –       –       – 32

4.1    data analysis     –       –       –       –       –       –       –       –       – 33

  • Oral interview analysis –       –       –       –       –       –       – 40
  • Analysis of management questionnaire –       –       –       – 41

 

CHAPTER FIVE

  • Introduction –       –       –       –       –       –       –       –       – 49

5.1    Discussion of result –       –       –       –       –       –       –       – 49

5.2    Test Of Hypothesis             –       –       –       –       –       –       – 51

  • Comment on the result of analysis –       –       –       –       – 57

 

CHAPTER SIX

  • Introduction –       –       –                –       –       –       – 59

6.1    summary —      –       –       –       –       –       –       –       – 59

  • Conclusion – –       –       –       –       –       –       –       – 60
  • –       –       –       –       –       –       – 61

Bibliography      –       –       –       –       –       –       –       – 64

Appendix 1        –       –       –       –       –       –       –       – 65

Appendix 2        –       –       –       –       –       –       –       – 70

CHAPTER ONE

  • INTRODUCTION

In our contemporary world, advertising serves as one of the media vehicle through which any organization or potential buyers of goods and services and to form direct communication of persuasion nature to existing customers or the generality of the populate. In communication system (through whatever means can deliver its message to recipient or receiver in a way and manner that the receiver will receive and perceive the message.

 

The word advertising is derived from the Latin word advertero and meaning it turn literally, it means to turn people’s attention to specific thing”. Nothing definite can be said to how ad is the method of advertisement. It was originally used to warn public against something either drive or attract the public from something bad or good. It is presumed that the first advertisement was sometime in the form of stenciled. Inscription which were found on earthen bricks prepared by the Babylonians above three thousand years before Christ

 

In the olden days, the advertisements were more passive and extremely limited in scope. The earliest forms where signboards and writing on the walls of prominent buildings. The art of printing further aided in the technique of advertising through hand bills magazines and newspapers pamphlets and hand book.

 

In a free or capitalist economics, promotions play an important rule. This is creating awareness for new product. This fact has been established by marketing experts. As a tool, promotion can be used for not only creating product awareness but also in estimating demand through a variety of techniques. The techniques are advertising, personal selling, publicity and sales promotion. Firms can use any of these or a combination of one or more to achieve their promotional goals, depending on the nature of the product, the firm financial strength etc.

Due to springing up of soap manufacturing industries in recent years, with existing of the imperfect competition and different brands in the soap market there is the need for effective advertising strategy which will not only informs and persuade, but also remind the customers to maintain the brand.

 

In the present day competitive environment in our business set up especially in toilet soap industries in Nigeria, it is absolutely imperative for the strategy resembles and immeasurable investment to the organization in which a return is expected. The NASCO Marketing company limited should find it necessary to design advertising campaign in such a way that will attract the attention of customers invariably this will end and the strength of its product line and sales.

 

This research is therefore intended to analysis the extent to which NASCO marketing company limited is using advertising strategy to market its new product beauty soap in the face of its competitors offering the same toilet soap, it also intended to highlight any constructive alternative or suggestion for over coming any advertising bottle neck that might arises.

 

1.1    STATEMENT OF PROBLEM.

The basic problem for research is to justify the effectiveness or impact of advertising to adopt make sales especially during the introductory stage and why is it that during introductory stage of the product life cycle a new product dies not reaching the growth or maturity stage. What method(s) of advertising are to and whether those methods are actually effective enough to achieve the desired goals.

 

Over the years, many organization in Nigeria seems to believe that once goods or services are produced, there is ready market for such goods and services. As they do not seem to recognize or appreciate the place or role of advertising towards achievement of their organizational profit or sales objectives.

 

1.2    OBJECTIVES OF THE STUDY.

In the kind of adventure, there must

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