ADVERTISING AS A PROMOTIONAL TOOL FOR ACHIEVING CORPORATE MARKETING OBJECTIVES
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
In time past, when competition was of a relatively minimal and crude level a firm needed only to embark on a superior product planning, design and development, than the actual manufacturing of the product. These were followed by a programmed market display of the product. Mild promotion and advertisement which were carried out on a personal basis, in most cases. If the product were deemed superior to other compositing ones by the customers even if the issue of superiority was superficial, it would calm the storms and push its way t the heights of mass acceptance. However, a combination of intensive, and extensive product research sophisticated marketing strategies, high awareness, prove consumer sensitivity and other factors have caused the influx of competitions into the market of various products with new and more improved products for the ultimate consumers satisfaction. It is contestable that this trend is necessitated a conscious examination of the relevance of aggressive advertising of products and assessment of such pragmatic analysis.
The primary objective of any business entity is profit maximization through increasing sales of its products. Timely information to consumers about a particular product is very vital if the expected increase in sales volume is to be achieved. High sales volume will promote the profitability of the organization. Profitability is the ability to earn profit steadily and over in extended period of time. In the achievement of this objective, various marketing tools are undoubtedly available to the producer. These include advertising personal selling, sales promotion, public relation and publicity (the promotional mix) of all the aforementioned channels of communication, advertising is considered the cheapest terms of coverage. An overused term like advertising is susceptible to a wide range of definition sees advertising is the action of rolling something to the attention of the publics, especially by paid announcements. It is one of the four major tools company use to direct social, marketing and persuasive communications to the public especially the target buyers. Kotler and Armstrong (2014) see advertising is consisting of non- personal forms of communication conducted through paid media under sponsorship. Sir Churchill running a commentary on advertising enunciated that advertising nourishes the consuming power of man. It create wants for a better standard of living. It sets up before a man, the goal of a better food for himself and family, it spurs individual excretion and greater production. It brings together infertile union to those things which otherwise would not have met. Advertising is a word everyone in business uses from time to time.
The consuming public is bombarded with advertising everyday manufacture of products in word of marketing qualities have had to blame advertising for the lack of success in selling such products or services, many have used advertising productively through. One of the hallmarks of good product management and corporate image projection is the deep appreciation for what advertising really is and the skill to efficiently harness its numerous tools towards uninterrupted customers patronage and its attendant of bumper sales and relative rise in profit. It is worthy of note however that advertising itself does not sell. The best advertising does is interacts with and complements product development distribution, pricing packaging, selling and research strategies.
Advertising then is a part of the overall marketing discipline and works best when it suggests that the product or service will satisfy consumers needs and wants. Nevertheless, once one accepts then be defined further as a tool for informing and persuading, utilizing the mass media. Advertising contrary to popular belief will not create demand for a product that has no marketing reason to exist. The uninformed understand advertising from the rather narrow perspective of selling manufactures consume goods. This is however the most obstructive and conspicuous kind of advertising. Certainly, it is the important. But by no means the only kind, moreover when it presently contributes less than 40 % of all the money spent on advertising in the Nigerian business science, for instance, it is indisputable that people have for centuries communicated their ideas and needs to one another through advertising and engaged in a wide range of social and economic activities through advertising politicians communicate with their constituents, corporations communicate with city and shareholders , job opportunities are announced. Charities exhort people to support their many courses while churches persuade “faithful” and other member of the public to attend their servicers and periodic programs.
A typical example is the Nigeria government who finds vey keenly advertising is an important tool in social communication in her effort to infuse assumed sanity and direction into the country’s over polluted body politics, these are carried out by the employment of the services of expert and professional mass communications to get the man on the street and the rural dwellers who still constitute about 80% of our population, enlighten and re-oriented about its various institutions and machinery put in place expedite action. The uses of advertising are many, when used, it is a constructive part of our social fabric, it also belongs to the elated segments of the service industries which complement immensely, the efforts of creating, sustaining and expending opportuniti4es in the Nigerian business firmaments. The concept of advertising in achieving company’s marketing obj4ectives cannot be over emphasized. In Nigerian Bottling Company Plc, Benin plant (NBC) been a franchising company allowed the sales of the product In Nigeria only. It advertising strategies for each of its product ranges is one of its uncompromising corporate policies.
The evidence of this undoubted is transparent in the mass consumer patronage and loyalty to all its product range. This has resulted in consistent increase in sales volume and hence facilitating profitability of the company over the years. The whole world of over 200 countries were coca – cola products are being sold steadily. This research work aims at finding such factors being a problem. No doubt also, advertising of the company products implemented by the advertising department was possible because it had the approval of the equity holders the research will also find other promotional tools to ascertain the advertising being of them (sales promotion public, relation, personal selling and advertising).
1.2 STATEMENT OF RESEARCH PROBLEM
This research work centres on advertising as a promotional tool for achieving corporate marketing objective in Nigeria Bottling Company Plc, Benin plant. The factor necessary before advertising policy is established are: the contribution of stakeholders to achieving advertisement will be look at,, to ascertain whether or not advertising is a promotional tool, to see if the goal of advertising can be achieve to confirm if consumers behaviours can be affected by advertising.
1.3 PURPOSE OF THE STUDY
The main purpose of the study is to focus on the impact of advertising on corporate marketing of the value of companies. Thus, the purpose is addressed in the following statement. · To determine the qualitative and quantitative factors to be considered in practice, before advertising, policies can be established in company’s advertising department. · To determine whether in practice, the advertising policies can affect the behavior of shareholder. To determine the true nature of the value of advertising to the goal.