The Impact Of Sales Promotion On The Sales Volume In Business Organisations
The purpose of this project is to make a careful research on the study of “The impact of sales promotion on the sales volume in business organization, using Global com Nigeria, Plc as a case study.
This project will explain on promotion and activities, symbol, and signs on the sales volumes in business organization
The reasons for how has promotion helped the product at organization.
More also, the suggestion are made to ensure that promotion on the sales volume in business organization is very important
Finally, the study will explain how the impact of sales promotion is positively related to the sales volume in business organization.
1.1 Background of the Study
Promotion and activities, signs, symbols, word of math, rising or even action use to inform, persuade communicate, remind and make aware to the potential consumer and the public about a product and the service.
Promotion is concerned with the ways and means by which its product and service can be communicated to consumers.
Promotion is an act of creating awareness, persuading, influencing and reminding the actual potential and public as a whole about products and services
Sale volume is the amount of products sold within the period of promotion activities, it is the amount of goods or services the company sold or gives for the exchange of money during the time of product activities.
A business organization, through the uses of promotion as a promotional strategy can effectively reach its target market. Therefore to achieve an effective and improved promotion strategy, the use of promotional tools should be introduced. i.e sales promotion.
A buyer who has no cardinal knowledge about product incentive can be aware of it through the product incentive can be aware of it through the promotional activities.
In essence, promotion has a great impact on product because it has the ability to control the buyers mind positively towards the products. It increases the scales and market relation of a business organization.
The main idea behind the work is to show clearly how an effective promotion strategy can be reached with the use of sales promotion to increase the sale volume in organization like global com Nigeria plc.
1.2 Statement of Problem
In recent years Globacom Nigeria plc, have invested much into sale promotion aiming at improving the sale volume of the company. Despite of heavy investment in the promotional activities, Globacom has not achieved its targeted sales volume, for instance the target sale of 2013 were fifty million and the actual sale was forty four, eighty seven billion which indicated a deficiency in the actual sale. So this study aims at establishing the relationship between promotional activities and sale volume using Globacom Nigeria Plc as a case study.
1.3 Objective of the Study
The aim of this study is to examine the impact of sales promotion on the sales volume of a business organization. Specifically it seeks
- To examine different sales promotion strategies used by business organization
- To investigate the impact of bonus packs on the sales volume.
- To investigate if there is any relationship between sales promotion and sale volume
- To examine the extent at which sales promotion impacts sales volume
1.4 Significance of the Research Study
This research work has much significance but some of them are:
- This research work will improve and expand the knowledge and understanding of the researcher on issues surrounding or pertaining to advertising
- It will provide relevant information for management of any organization in making decision related to advertising.
- It will help in seeking solution to all problems that arise from poor advertising.
- It will educate, especially advert personnel on how adverts are really impacting to company’s goods and services, sales revenues.
- It will serve as reference material to any scholar/student who is willing to know or to add to his/her knowledge and insight of what the real impact of advertising is.
1.5 Scope of the Study
This study aims at examining the impact of sales promotion on the sales volume of a business organization.it will also examine different sales promotion strategies used by business organization. It also investigate the impact of bonus packs on the sales volume.it investigated if there is any relationship between sales promotion and sale volume and finally it examined the extent at which sales promotion impacts sales volume. However the study is delimited to Globacom Inc.
1.6 Research Question
- What are the different sales promotion strategies used by business organization?
- What is the impact of bonus packs on the sales volume?
- Do you think there is any relationship between sales promotion and sale volume?
- What is the extent at which sales promotion impacts sales volume?
1.7 Limitation of the Study
In the course of this study, the researcher encountered few factors that posed to be a limitation. These include financial and time constrain
- Financial constraint- Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
- Time constraint- The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.
1.8 Definition of Terms
Sales promotion can be defined as a broad label that applies special kinds of sales accelerating activity not necessarily classed as advertising and direct selling.
Business can simply be defined as the totality of all economic activities that are undertaken in the process of producing and distributing goods and services for the purpose of making profit.
Robine (1987) said an organization is a consciously coordinated social entity with a relatively identifiable boundary, that functions on a relatively continuous basis to achieve a common goal or set of goals.
This is the task of creating, promoting, and delivery of goods and services to consumers and businesses.
Anything that can be offered to a market to satisfy a want or need.
Price / Pricing:
This is the amount of money for which goods or services is brought or sold, as selected by the company as final price from its range of prices.
This is the act of delivering and receiving messages from people. This includes newspaper, magazine, radio, Television e.t.c.
A form of Communication intended to persuade its viewers, readers, or listeners to take some actions on a product or service.
These are plans designed to achieve a long term aim and objectives.
This is the rate at which goods are sold.
Is a person who buys goods or services that is, the final person who uses a product.
It is a feeling of fulfillment that is gotten from the use of a product.
This is referred to as a firm. That is, commercial business.
Sales Volume is used to measure the amount, usually in cartoons/crates, etc, of the product being sold at a given point in time.
Summary, Conclusions and Recommendations:
This chapter summarizes the findings into the “study examines sales promotion and its effects on organizational effectiveness in Nigerian manufacturing industry. The chapter consists of summary of the study, conclusions, recommendations and suggestions for further studies.
5.2 Summary of the Study
This study aimed at examining the impact of sales promotion on the sales volume of a business organization using Globacom Inc as a case Study.it also examined different sales promotion strategies used by business organization. It also investigated the impact of bonus packs on the sales volume.it investigated if there is any relationship between sales promotion and sale volume and finally it examined the extent at which sales promotion impacts sales volume. However, the study made use of survey design and random sampling technique in selecting the respondents comprising management and staff of Globacom Inc.
In all 205 respondents were used as the sample size. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed with frequency tables and percentage.
Based on the finding of this study, the following conclusions were made:
- That there’s been an increase in the usage of sales promotion by telecommunication companies.
- That Sales promotion is normally used to boost sales thereby increasing the profit.
- That companies effectiveness can be enhanced when the right promotional strategies are applied.
- That the most significant sales promotion strategy that contributed to higher performance in the company are product giveaway, special sales, price off and branded promotional gift.
- That sales promotional strategy enables telecommunication companies to gain greater market shares and higher sales.
- That there is a significant relationship between sales promotion and sales volume
Based on the responses obtained, the researcher proffers recommends that:
- Globacom Inc and other telecommunication companies should engage always in more promotional mix strategies.
- That sales promotion should be made creative to customers especially during social adverts which will in turn would enhance and boost sales revenue.
- That organization should set up more and effective sales promotion department with experience staff with the view of developing more promotional strategies in line with the company’s objectives.
- Sales promotions budget should always be adequate in organizations which would also give sales representatives and consumers alike performance to participate.
- That there should be enhanced and computerized distribution system, this strategy create performance and proficiency on field managers and supervisors monitoring sales on consumers and complaint.
5.5 Suggestions for Further Studies
The main focus of this study was the impact of sales promotion on sales volume using Globacom Inc. Lagos State as case study . The researcher therefore suggests for further research be conducted to explore this in different beverage companies and other telecommunication companies in Nigeria.
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