MEASUREMENT OF ADVERTISEMENT CONTRIBUTION TO EFFECTIVE SALE GROWTH IN A COMPETITIVE MARKET
1.1 BACKGROUND OF THE STUDY
This project study is with the “Measurement of advertisement contribution to effective sale growth in a competitive market”.
The basic fact of life in marketing product cannot sell itself more so a product that is designed to perfectly meet buyers’ desire which is offered at a very affordable price will not be successful unless information about its availability and benefit are well oversented.
Consequently, some forms of communication are essential for the execution of any marketing strategy. Advertising consist of paid message designed to inform or persuade buyer about a product service belief or idea by an identified sponsor selling message to the right prospect for a product or services at a lowest possible cost.
Nevertheless, if a brand has been in a market for sometimes, its sales may have started to deceive out it may be re-launched back into the market by an aggressive marketing strategy in other word.
It is instructive that with advertising you will actually be selling less but “less” is skill more than the result, which would have achieved without advertising and this may be a major benefit to your overall profitability.
In addition, you can successfully establish brand values through increased advertising. It is easier to establish these sorts brand values, if you set out to do so right from the brand launch. This means, that the name the pack the point of sales reflects a completely integrated brand personality.
By effective advertising, a brand can carryout for its self a new market or significant share of any old one at the expense of direct or indirect competition.
In conclusion, it’s instructive from all the above mentioned factor that one cannot over emphasized the important of advertising toward achieving corporate objectives.
This is the main reason behind this significance of the on measurement of the contribution of advertising to growth in a competitive market.
1.2 STATEMENT OF THE PROBLEM
In any research work, certain problems are usually identified for the study, it is the way problems are defined that governs the ability of decision making to search and identify appropriate solution.
Below are the problems:
⦁ Problem of cost
⦁ The problem of ineffective use of media
⦁ Problem of appraising sales and sales growth
⦁ Problem of explaining the nature of a complex product in a comprehensive manner
⦁ Problem of considering the state of mind of the consumer before advertising the product
⦁ Problem of determining the medium used in advertising
1.3 AIMS AND OBJECTIVE OF THE STUDY
The overall aims and objective of measuring advertisement contribution to effective sales growth in a competitive market is to increase, profit’ by stimulating. Sales beyond the unit and naira level otherwise possible. More specifically, the producer or seller hopes that additional unit sold as a result of adverting will contribute to overhead cost of the advertising. Their important aims and objectives are as follow.
⦁ To inform potential customer and users of the existence of the product and the benefit they have from the purchase.
⦁ To expose future researcher and broaden her knowledge about the subject matter.
⦁ To elucidate the contribution of advertisement to effective sales growth in a competitive market.
⦁ To regain lost customers and accounts
1.4 SIGNIFICANCE OF THE STUDY
This study is intended to highlight and unfold the roles of advertising and to promote the corporate image on marketing in company product.
Furthermore, the importance of the study is also derived from the fact that this ‘study area head been relatively negated in the marketing. Most of the previous research study has been on advertising in relation to specific product.
In addition, the study would be of immense benefits to future researchers’ attempting to appraising advertising as it enhance sales growth in competitive market. However, the primary rationale for this research study is too useful the obligations, which serve as one of the prerequisite for the partial fulfillment of the National Diploma in Nigeria polytechnics.
1.5 SCOPE OF THE STUDY
The Scope of this study will be limited to determining how advertising enhance sales growth of Nigerite Limited product.
It determines the effectiveness of various types of advertisement used by Nigerite Limited.
This study covers an indigenous and foreign market and product of Nigerite Nigeria Limited Lagos. Nigerite as a member of Elex group is the largest company in Africa that engages in manufacturing bf fibre, current roofing sheet and vingh floor ties, which are being used and consumed throughout the country and has become a celebrity among its contemporary.
Nigerite limited is a joint venture between Odua Investment Corporation limited and Etex group of Belgium. Its head office is located in a fifty acre site along Oba Akran Avenue, Ikeja, Lagos state and has different branch offices in various states such as Ilorin, Ogun, Oyo, Anambra, Abuja, Jos, Abia etc.
1.6 LIMITATIONS AND CONSTRAINTS TO THE STUDY
A research study of this nature has never been executed successfully without the researcher facing constraint or the other.
The following are the limitations involve in conducting the study
Time: the period within which the project is being carried out is grossly limited. Data collected involved mush traveling around.
Most of the staff and respondents felt reluctant to disclose information needed by the researcher to avoid leakage of the company information..