The Effectiveness Of Advertising On Organizational Profit Maximization Of Selected Hotels

Project and Seminar Material for Business Administration and Management BAM

The Effectiveness Of Advertising On Organizational Profit Maximization Of Selected Hotels


Abstract


This study was carried out to examine he effectiveness of advertising on organizational profit maximization of selected hotels using Rock view hostel Imo State. The study was specifically carried out to ascertain whether advertising is an effective instrument for increasing brand awareness of hotels in Nigeria, ascertain whether advertising is an effective instrument for attracting consumer patronage of hotel services in Nigeria, ascertain whether advertising is an effective instrument for increasing sales turnover of hotels in Nigeria, and ascertain whether advertising is an effective instrument for increasing the competitive advantage and market share of hotels in Nigeria. The survey design was adopted and the simple random sampling techniques were employed in this study. The population size comprise of staff of Rock view hostel Imo State. In determining the sample size, the researcher conveniently selected 57 respondents and 50 were validated. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed using frequency tables, and mean scores. While the hypotheses were tested using Pearson Correlation statistical tool, SPSS v23. The result of the findings reveals that advertising effectively increase brand awareness of hotels in Nigeria. The study also revealed that advertising effectively enhance the competitive advantage and market share of hotels in Nigeria. Therefore, it is recommended that the advertising and personnel department should maintain an effective medium of advertising in consideration of cost and quality.There should proper advertising mechanism that will foster the reputation of the hotel as well as the products.Hotels should use the best medium of advertising that will create easy awareness of usage of products. Hotels should ensure that ways of determining the profit generated via effective advertising. To mention but a few.


Table of Content


  • Title Page
  • Certification
  • Dedication
  • Acknowledgement
  • Table of Content
  • List of Tables
  • Abstract

Chapter One:

Introduction

  • 1.1 Background of the Study
  • 1.2 Statement of the 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
  • 1.8 Limitation of the Study
  • 1.9 Definition of Terms
  • 1.10 Organisations of the Study

Chapter Two:

Review of Literature

  • 2.1 Conceptual Framework
  • 2.2 Theoretical Framework
  • 2.3 Empirical Review

Chapter Three:

Research Methodology

  • 3.1 Research Design
  • 3.2 Population of the Study
  • 3.3 Sample Size Determination
  • 3.4 Sample Size Selection Technique and Procedure
  • 3.5 Research Instrument and Administration
  • 3.6 Method of Data Collection
  • 3.7 Method of Data Analysis
  • 3.8 Validity of the Study
  • 3.9 Reliability of the Study
  • 3.10 Ethical Consideration

Chapter Four:

Data Presentation and Analysis

  • 4.1 Data Presentation
  • 4.2 Analysis of Data
  • 4.3 Answering Research Questions
  • 4.4 Test of Hypotheses

Chapter Five:

Summary, Conclusion and Recommendation

  • 5.1 Summary
  • 5.2 Conclusion
  • 5.3 Recommendation
  • References
  • APPENDIX
  • QUESTIONNAIRE

Chapter One


Introduction

1.1 Background of the Study

Advertising testing could provide a reliable feedback loop and lead to much better advertising, but many obstacles stand in the way. The first great barrier to better advertising is self -deduction. Most of us believes in our heart-to-hearts, that we know how good advertising is and that there is no need for any kind of independent, objective evaluation agencies and clients alike often think that they know how to create and judge good advertising. Besides, once agencies and clients start to fail in love with the new creative, they quickly lose interest in any objective evaluation. No need for advertising testing. Strangely, after 40 years of testing advertising, we cannot tell you if a commercial is any good or not, juts by viewing it, sure we have opinions but they are almost always wrong. In our experience, advertising agencies and their clients are just as inept and judging advertising as we are. it seems that none of us is smart enough to see advertising through the eyes of the target audience based purely on our own judgment.

A second barrier to better advertising is the belief that sales performance will tell if the advertising is working. Unless the sales response to the advertising is immediate and overwhelming. It is almost impossible to use sales data to judge the effectiveness of the advertising. So many variable are beyond our control as noted that its impossible to isolate the effect of media advertising along. Moreover, some advertising works in a few weeks, while other advertising might take many months to show positive effects, and this delayed response can confound our efforts to read the sales data. Also, advertising often has short-term effects that sales data might reflect, and long-term (year later) effects that most of us might easily overlook in subsequent sales data. Because of limitations, sales data tend to be confusing and unreliable as an indicator of advertising effectiveness.

Few companies have the budget, the patience, the accurate database and the technical knowledge necessary to succeed at marketing mix modeling. Even so; marketing modeling does not help us evaluate the contribution of a single commercial but rather the cumulative effects of many different commercials over a long period of time. Also marketing mix modeling does not tell us why the advertising worked or failed to work.

A third barrier to better advertising is a pervasive tendency of many (but not all) advertising agencies to delay, undermine, and that efforts to objectivity test their creative “babies”. Who wants a report card on the quality of their work? It is very threatening. The results can upset the creative folks the results can upset he clients. The agency can lose control. Agencies can be quite creative in coming up with reasons to avoid copy testing some of our favourtites.
The fourth barrier to more effective advertising is the big creative ego. The belief that only “the creative” in the agency can create advertising and the conviction that creativity is their exclusive domain constitutes a major barrier. Great advertising tends to evolve overtime, with lost of hard work, fine-tuning and tinkering-based on objective feedback from target consumers. Big creative egos tend to resist such evolutionary improvements. We have seen great campaigns abandoned because agencies would not accept minor tweaks to the advertising. To be fair, big ego is not limited to adverting agencies. But client egos can also be a barrier to good advertising. Research firm egos are yet another problems. Big egos create barriers because emotion is driving advertising decision making instead of logic, reason, and consumer feedback. Big egos lead to bad advertising.


1.2 Statement of the Problem

Advertising as tool of promoting profit maximization has not been fully used by business entitle like hotels and other corporations. However, the problems persist because to most people it seems to be an irrelevant expenditures.
Advertising experts have made a critique about the good effects of advertising. This is a problem statement which relates to who is involved and who will solve the problem. Despite the involvement of the media into the process of advertisement hotels simply consider it as mere theory. Therefore, practicing it for profit maximization is the overall objective of hotels proprietors.


1.3 Objective of the Study

The broad objectives of this study is to examine the effectiveness of advertising on organizational profit maximization of selected hotels.

The other specific objectives includes:

  1. Ascertain whether advertising is an effective instrument for increasing brand awareness of hotels in Nigeria.
  2. Ascertain whether advertising is an effective instrument for attracting consumer patronage of hotel services in Nigeria.
  3. Ascertain whether advertising is an effective instrument for increasing sales turnover of hotels in Nigeria.
  4. Ascertain whether advertising is an effective instrument for increasing the competitive advantage and market share of hotels in Nigeria.

1.4 Research Questions

The following research questions will be answered in this study:

  1. Does advertising effectively increase brand awareness of hotels in Nigeria?
  2. Does advertising effectively attract consumer’s patronage of hotel services in Nigeria?
  3. Does advertising effectively increase sales turnover of hotel services in Nigeria?
  4. Does advertising effectively enhance the competitive advantage and market share of hotels in Nigeria?

1.5 Research Hypotheses

  • Ho: There is no significant relationship between advertising and profit maximization of hotels.
  • Ha: There is a significant relationship between advertising and profit maximization of hotels.

1.6 Significance of the Study

This study is very significant to the current Nigeria society. It will add to more researchers and actualize new trends. It is therefore agreed that at the end of this study students of the department of mass communication and seasoned media experts shall benefit immensely from the study.


1.7 Scope of the Study

The scope of this study borders on the effectiveness of advertising on organizational profit maximization of selected hotels. Hence the study will be delimited to selected hotels in Rivers State.


1.8 Limitation of Study

This research project, like all human endeavors, had some challenges that threatened to derail the study’s completion. One of the reasons is that the time allotted for this work was so limited that the researcher did not have enough time to complete the task thoroughly. During data collection, the researcher also had to put forth extra effort to understand the respondents’ interview schedules, several of whom fell into the incomprehensible age group. Also, there were financial and transportation constraints to deal with. Insufficient funds tend to impede the efficiency of the researcher in sourcing the relevant materials, literature, or information and in the process of data collection (internet, questionnaire, interview).


1.9 Definition of Terms

Advertising:

Advertising is an audio or visual form of marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea. Sponsors of advertising are often businesses who wish to promote their products or services.

Profitability:

It is defined as either accounting profits or economic profits. Accounting profits mean net income, while economic profits mean net worth. Profitability is the difference between the turnover or sales and the operating cost of business organization.


1.10 Organization of the Study

The study is categorized into five chapters. The first chapter presents the background of the study, statement of the problem, objective of the study, research questions and hypothesis, the significance of the study, scope/limitations of the study, and definition of terms. The chapter two covers the review of literature with emphasis on conceptual framework, theoretical framework, and empirical review. Likewise, the chapter three which is the research methodology, specifically covers the research design, population of the study, sample size determination, sample size, abnd selection technique and procedure, research instrument and administration, method of data collection, method of data analysis, validity and reliability of the study, and ethical consideration. The second to last chapter being the chapter four presents the data presentation and analysis, while the last chapter (chapter five) contains the summary, conclusion and recommendation.


Chapter Five


Summary, Conclusions and Recommendations:

5.1 Introduction

This chapter summarizes the findings on the effectiveness of advertising on organizational profit maximization of selected hotels using Rock view hostel Imo State. The chapter consists of summary of the study, conclusions, and recommendations.


5.2 Summary of the Study

In this study, our focus was to examine the effectiveness of advertising on organizational profit maximization of selected hotels using Rock view hostel Imo State. The study was specifically carried out to ascertain whether advertising is an effective instrument for increasing brand awareness of hotels in Nigeria, ascertain whether advertising is an effective instrument for attracting consumer patronage of hotel services in Nigeria, ascertain whether advertising is an effective instrument for increasing sales turnover of hotels in Nigeria, and ascertain whether advertising is an effective instrument for increasing the competitive advantage and market share of hotels in Nigeria.

The study adopted the survey research design and randomly enrolled participants in the study. A total of 50 responses were validated from the enrolled participants where all respondent were staff of Rock view hostel Imo State.


5.3 Conclusions

Based on the findings of this study, the researcher concluded that;

  1. Advertising effectively increase brand awareness of hotels in Nigeria.
  2. Advertising effectively attract consumer’s patronage of hotel services in Nigeria.
  3. Advertising effectively increase sales turnover of hotel services in Nigeria.
  4. Advertising effectively enhance the competitive advantage and market share of hotels in Nigeria.

5.4 Recommendations

Based on the findings of the study, the following recommendations are proffered.

  1. The advertising and personnel department should maintain an effective medium of advertising in consideration of cost and quality.There should proper advertising mechanism that will foster the reputation of the hotel as well as the products.Hotels should use the best medium of advertising that will create easy awareness of usage of products. Hotels should ensure that ways of determining the profit generated via effective advertising.
  2. Organizations should use the best medium of advertising that will create easy awareness of usage of products.Organization should ensure that ways of determining the profit generated via effective advertising.
  3. Hotels should increase the use of television advertising in addition to billboards, posters, and pamphlets. Their advertising should be realistic and interesting in order to attract and retain prospective buyers of products or services, thereby increasing sales.
  4. Hostels should consider implementing other advertising strategies that are accompanied by product qualities that may influence existing and potential customers to patronize their products, thereby increasing sales.
  5. Hostels should use good television advertising features to attract their existing and new customers. As a result, both new and old customers who do not frequently patronize the products and services will develop buying habits systematically. Also, compromise should be avoided if the advertisement is to be successful; thus, the need to hire core professionals for proper planning and execution of the advertisement rather than using shady workers to save money.

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