Full Project – The impact of advertisement on business enterprises
Advertising is any paid form of non personal presentation and promotion of ideas, goods, or services by an identified sponsor (Kotler and Armstrong, 2010). There are various forms of advertising like informative advertising, persuasive advertising, comparison advertising, and reminder advertising. Informative advertising is used to inform consumers about a new product or services.
It describes available products and services, corrects false impressions and builds the image of the company, (Kotler, 2010).Advertising can be done through print media which includes newspapers, magazines, brochures, audio media for example Radio and visual media which includes billboards and television (Kotler and Armstrong 2010).
Business enterprises were established purposely to make profit. However, the profit cannot be realized, unless the customers are fully made aware about the existence of the enterprise, which provides the product, nature of the product, its uses, benefits, price, how to use it, where to acquire it, and a lot of other important information the customers need to know.
The process of providing this information is what is referred to as promotion. This promotion comprises of advertisement, personal selling, sale promotion and publicity. The research concentrate on advertisement, which is in form of any paid form of non – personal presentation of leaders, goods, or services by an identified sponsor. (Kotler, l987). It is a strategic device for gaining or maintaining a competitive advantage in the market place. It can be carried out through electronic media i.e. Radio, Television, Internet etc. the idea is to reach out to the target customers through the best mix at a reasonable cost.
1.2 STATEMENT OF THE PROBLEM
- Most business operators undermine the effect of Advertising to their Business Enterprises.
- There is the problem of wrong selection of channel of advertising the product.
- Lack of adequate knowledge of means of advertising business enterprises.
- Fear of spending money without the creativity of getting favourable response from the customers.
1.3 RESEARCH QUESTIONS
- What are the forms of advertising used by Wapa Investment Ltd Katsina?
- What is the level of sales performance of Wapa Investment Ltd Katsina before advertising?
- What is the effect of advertising on sales performance in Wapa Investment Ltd Katsina?
1.4 AIMS/OBJECTIVES OF THE STUDY
- To examine the forms of advertising in Wapa Investment Ltd Katsina
- To identify the level of sales performance in Wapa Investment Ltd Katsina.
- To know the advertisement impact on sales in the company’s products.
1.5 SCOPE/LIMITATION OF THE STUDY
The scope of this research is just limited to Wapa Investment Ltd Katsina as the case study.
The inevitable difficulties in this research include the following; –
- Inadequate time
- Unwillingness of the respondents
- Inadequate finance
1.6 SIGNIFICANCE OF THE STUDY
The findings of the study are expected to benefit the following.
- The findings of the study will be used as references for future research work.
- The results of the study are of surmountable information when drawing measures which would in turn lead to capture of substantial market share.
- The study can be the source of reference on how to revive and adopt and also follow the adverts according to the dynamic markets.
1.7 DEFINITION OF THE TERMS
Impact: – This refers to the both positive and negative influence of the concept towards the topic in questions.
Advertising: This is any paid form of non-personal presentation of idea, goods or services by an identified sponsor.
Advertising Agencies: These are usually independent business organizations comprise of creative and business personnel, who develop, prepare and place adverts for organizations so as to attract and influence consumers’ behaviour towards a product or service.
Consumer: This is the person(s) to which the advertisement and products/services are directed. Here they are also known as buyers of a company’s product.
Outdoor Media: This cover the use of billboards, sign posts, posters, handbills, etc. in communicating the advertising message to the consumers.
Electronic Media: This includes radio, television, the internet, etc and can be either local or international.
Market: This is usually the strategic location or place where the company’s consumer/buyers are situated or where they go to buy the products/services of their choice. The market place offers different products/services to different consumers.
Producer: This is the organization or firm that produce/provide a product or that delivers services to consumers.
Sales Volume: This is used to measure the amount, usually in cartoons/crates, etc, of the product being sold at a given point in time. This is commonly used as well with products but it could be as used within a service company.
Transit Advertisement: A relatively minor volume of the advertisement placed in or on public buses, taxis, cars and other commercial vehicles.
Product: This can represent anything a consumer acquires or might acquire to meet a perceived need. This need not necessarily be satisfactory.
Sales: This is a process of selling something such as a product, idea or service. It also covers the number of goods or services sold at a given point in time. (Arowomole, 2001, 17-25)
Hi: Advertising programmes have impact on the sales volume of their products.
Ho. Advertising programmes does not have any impact on the sales volume of their products.
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Full Project – The impact of advertisement on business enterprises