The Role Of Advertising In Retail Business In The 21st Century

Project and Seminar Material for Marketing

The Role Of Advertising In Retail Business In The 21st Century


Abstract


This research work was carried out to examine the effectiveness of advertising in the marketing of consumers’ product using Nestle Food Nig Plc. The objective of this study is to know if advertising has any effect on consumer choice for the product of the firm and also examine if advertising has any influence on the business cycle. The data were collected from primary source through administration of questionnaires data collected were presented in tables and percentage. A sample size of 30 was adopted and questionnaires were administered only 30 were returned. The data collected were analyzed using the percentage method while the hypotheses formulated were tested using the chi-square method. The study reveals that profit maximization can only be achieved if advertising is encouraged in small scale business management. Based on my findings the study recommends amongst others that advertising should be given a great recognition especially with infant industry or company in order for them to survive in the market place. It is concluded that the market share will be boosted, if advertising is properly handled.


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

The term “marketing” originated from the ideas of market. To the ordinary man in the streets, market is a fixed place where buyer and sellers meet to transact business. To the economist a market refers to all buyers and sellers who transact for a goods or service. While to a marketing professionals, a market is all actual and potential buyers of a product or service OSENI (2010). In marketing, the market is the buyer a study of the buyer; his needs and process of satisfying them constitute activities now referred to as marketing. Marketing is more than just selling and distribution of goods and service from the producers to the ultimate and final users. It consists of numbers of stages, starting from idea generation, product creation and development sales promotion, advertising, publicity and distribution logics of the product or services, which actually results to sales. One of these is advertising and these stages are closely inter-dependent on each others, which can easily breakup if one of the stages is inefficient and effective. Therefore, advertising is very essential as every other stages and each depend on the other for its survival and success. The product or service, its brand name, package and distribution are reflected in advertising, which has been noticed to be the foundation of an organization. Without advertising, the society will not be aware of the product and services produce by the concerned firm. The industrialized nation has benefited from advertising. It has enable producers as well as distributors to sell their products in both local and international market. It has given the buyers opportunities to know and remember goods and services that are of great benefits to them (Momoh, 2003). According to Igbafe and Aluyor (2012), Advertising involves the bringing of consumers product to the knowledge of the customers. The essence of making the people know about a product is to create demand for the product. If a product is unknowing people will not kask for it, people ask or demand for a product they are aware of it. It is therefore, important that consumer products are made known to prospective buyers by advertising or publishing through radio, television, newspapers, trade fair’s etc. Discussion on this project will be focused on the effectiveness of advertising in the marketing of consumers’ products. That is, does advertising really have an influence in the marketing of consumer products? In addition, it will also be centered on whether consider it necessary to buy an advertised product. The product that will focused on are mainly consumers’ products “of foods specially of Nigeria Plc”, its Head office at 22/24, industrial avenue, Ilupeju P.M.B 2114, Ikeja, Lagos. Through advertising has been gretly improved over the years, yet much has to be done. These include the need to increase its effectiveness, top execution and evaluation of its effectiveness. Top executive wants more proof than they now have that advertising proportionately result too many sales as naira spent on other activities. Conclusively, its factory output is to maintain profitability, advertising must be powerful and continuous. Mass market through the mass media


1.2 Statement of the Problem

Advertising is very important to both profit and non-profit organizations and they cannot do without it. Therefore, in determining the effectiveness of advertising on consumers’ products one has to focus mainly on measuring the attitude of the target of retail business in question and then attends to determine the effects of advertising on these attitude such as perception, beliefs, emotional feelings and behavioural response.


1.3 Objective of the Study

The project is specially concerned with the determination of the role of advertising in retail business in the 21st century. Specifically, the research work aims at achieving the following objectives.

  1. To suggest ways of improving advertising effectiveness via performance appraisal in retail business.
  2. To increase the effectiveness of advertising and find a better way to evaluate it.
  3. To know the factors that influences the choice of advertising media and by retail business.
  4. To examine the influence of advertising on the marketing of consumers’ products on our economy.
  5. To final out how companies can effectively and efficiently use on advertisement to mark their products in various electronic and print media.

1.4 Research Question

The research question on which hypothesis would be based is:

  1. Does advertising stimulate and influence the targeted audience to purchase consumers’ goods?
  2. What makes advertised products more attractive to consumers to purchase?
  3. How can advertising survive and succeed in creating demand for the company’s consumers’ products?
  4. What makes advertised products more attractive to consumers to purchase?
  5. Does advertising message affect buyers’ attitude and perception towards consumers’ good?

1.5 Research Hypotheses

The hypothesis in the research work shall be formulated under “Null and alternative” hypothesis, which is:

  1. Ho: Advertising does not help to create awareness of the product.
    HI: Advertising help to create awareness of the product.
  2. Ho: Advertising does not help to create demand for a product
    HI: Advertising help to create demand for product.
  3. Ho: Advertising does not influence consumer buying decision
    HI: Advertising influence consumer buying decision

1.6 Significance of the Study

This project, it will help every advertiser of goods and service especially retail business to know the characteristics of its audience. In terms of exposure to media viewing points occupation, educational level and economic status.

This study will also help advertise to come up with reasoned decision as regards the best medium to use for their product and service in relation with the characteristics of its audience. From the finding g of this research, the need to channel their advert through the most suitable medium will serve as a stimulant for future investigation by interested professionals.


1.7 Scope of Study

This research is concerned with the role of advertising in retail business in the 21st century. Under research of nestle food Nigeria Plc Ilupeja, Lagos state.


1.8 Limitations of the Study

In the course of writing this research, many factors acted as a barriers such factors are:

1. Time factor:

As the saying goes that “time is money” much time was spent in writing this project. This can clearly be derived from the fact that, most time that the researcher spent on this work of study has on expense of other coursers for the work of study has to be completed on time so that it can be submitted when its due.

2. Finance:

This factor also posed a grate threat to the smooth running of the research in many ways.

3. Textbooks:

In the course of this work of study a lot of textbooks were put into consideration, also books written by specialist in this areas was never easy to come by.


1.9 Definition of Operation Terms

Advertising:

According to American Marketing Association (AMA), 1960, defined advertising as any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor.

Advertising Copy:

NWOKOYE (1984), sees advertising copy as the words and picture illustration that makes up the advertisement as the way they are laid out to create a total impression.

Advertising Agency:

BOON, LOUIS, and David (1980), viewed an advertising agency as an independent organization of creative and business people specializes in the development and other promotional tools and receive communication from the media.

Advertising Media:

Momoh (2002), sees advertising medium messages can be carried to potential buyers.

Motivation:

ASORE (2001), viewed motivation as the driving force of energizing force that causes behavior to satisfy needs.

Consumer:

AROWOMOLE and ADEYEMI (2004), viewed consumer as an individual who buys and use a product or service. They are people with need and want to satisfy.

Product:

AROWOMOLE and ADEYEMI (2004), opined that it’s an element of marketing mix that represents the basis offering been made to consumer
It is anything (both favourable and unfavourable) that one receive in an exchange: it is a complexity of tangible and intangible attributes including financial, social psychological utilities or benefits.

Consumer Product:

According to MASOJE (2002), they are products already in their process form that is consumed to derive satisfaction.

Consumer Behaviour:

Is the behaviour that consumers display in searching for purchase, using, evaluating and disposing of product, services and ideas which they expect will satisfy their needs.

Advertising-Budget:

This is a statement of income and expenditure, which a firm is expected to use in advertising its goods.

Marketing:

According to KOTLER (2002),is a social and managerial process by which individuals and groups obtain which they need and want through creating and exchanging products and values with others.

Pull Strategy:

IDOGHO (2001), sees pull strategy as a promotional effort by the seller to the final consumer’s demand who will then exert force on the distribution channel to carry the product or service.

Target Audience:

NWOKOYE (1984), opined that target audience is the audience which advertising message is aimed at


1.10 Organization of the Study

This research work is organized in five chapters, for easy understanding, as follows.

  • Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study.
  • Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature.
  • Chapter three deals on the research design and methodology adopted in the study.
  • Chapter four concentrate on the data collection and analysis and presentation of finding.
  • Chapter five gives summary, conclusion, and recommendations made of the study.

Chapter Five


Summary, Conclusion and Recommendation

5.1 Summary

In this study, our focus was to examine the role of advertising in retail business in the 21st century using Nestle food Nigeria ltd as a case study. The study specifically was aimed at highlighting the ways of improving advertising effectiveness via performance appraisal in retail business. increase the effectiveness of advertising and find a better way to evaluate it. To know the factors that influences the choice of advertising media and by retail business. To examine the influence of advertising on the marketing of consumers’ products on our economy.

To final out how companies can effectively and efficiently use on advertisement to mark their products in various electronic and print media in Lagos state. A total of 30 responses were validated from the enrolled participants where all respondent are drawn from staff of Nestle food Nigeria ltd


5.2 Conclusion

  1. Advertising help to create awareness of the product.
  2. Advertising help to create demand for product.
  3. Advertising influence consumer buying decision
  4. Attractive packaging will make people interested in your products

5.3 Recommendation

Based on the responses obtained, the researcher proffers the following recommendations:

  1. That Nestle food Nigeria ltd should use attractive and informative content to create the awareness in the consumers and they should not rely on the advertisement for changing the perceptions of the consumers
  2. That Nestle food should use new ways of sales promotion or other medium to change the perceptions of the people

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