ADVERTISING: AN EFFECTIVE PROMOTIONAL TOOL FOR MARKETING NEW PRODUCT (2022)

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CHAPTER ONE

INTRODUCTION

1.0 BACKGROUND OF THE STUDY

In our contemporary world, advertising serves as one of the media vehicle through which any organization or potential buyers of goods and services and to form direct communication of persuasion nature to existing customers or the generality of the populate. In communication system (through whatever means can deliver its message to recipient or receiver in a way and manner that the receiver will receive and perceive the message. The word advertising is derived from the Latin word advertero and meaning it turn literally, it means to turn people’s attention to specific thing”. Nothing definite can be said to how ad is the method of advertisement. It was originally used to warn public against something either drive or attract the public from something bad or good. It is presumed that the first advertisement was sometime in the form of stenciled. Inscription which were found on earthen bricks prepared by the Babylonians above three thousand years before Christ. In the olden days, the advertisements were more passive and extremely limited in scope. The earliest forms where signboards and writing on the walls of prominent buildings. The art of printing further aided in the technique of advertising through hand bills magazines and newspapers pamphlets and hand book.

In a free or capitalist economics, promotions play an important rule. This is creating awareness for new product. This fact has been established by marketing experts. As a tool, promotion can be used for not only creating product awareness but also in estimating demand through a variety of techniques. The techniques are advertising, personal selling, publicity and sales promotion. Firms can use any of these or a combination of one or more to achieve their promotional goals, depending on the nature of the product, the firm financial strength etc. Due to springing up of soap manufacturing industries in recent years, with existing of the imperfect competition and different brands in the soap market there is the need for effective advertising strategy which will not only informs and persuade, but also remind the customers to maintain the brand.

In the present day competitive environment in our business set up especially in toilet soap industries in Nigeria, it is absolutely imperative for the strategy resembles and immeasurable investment to the organization in which a return is expected. The NASCO Marketing company limited should find it necessary to design advertising campaign in such a way that will attract the attention of customers invariably this will end and the strength of its product line and sales. This research is therefore intended to analysis the extent to which NASCO marketing company limited is using advertising strategy to market its new product beauty soap in the face of its competitors offering the same toilet soap, it also intended to highlight any constructive alternative or suggestion for over coming any advertising bottle neck that might arises.

1.1STATEMENT OF PROBLEM

(Video) The Best Marketing Strategy For A New Business Or Product

The basic problem for research is to justify the effectiveness or impact of advertising to adopt make sales especially during the introductory stage and why is it that during introductory stage of the product life cycle a new product dies not reaching the growth or maturity stage. What method(s) of advertising are to and whether those methods are actually effective enough to achieve the desired goals. Over the years, many organization in Nigeria seems to believe that once goods or services are produced, there is ready market for such goods and services. As they do not seem to recognize or appreciate the place or role of advertising towards achievement of their organizational profit or sales objectives.

1.2OBJECTIVES OF THE STUDY

In the kind of adventure, there must be a study to ascertain its success. If that is a general and acceptance principle the researcher also has some reasons in going into the study under consideration. In view of fact, this study is carried to achieve the following objectives.

1. To examine the significant of advertisement as it effects the development introduction and growth of new product in the market place.

2. To access the degree of the effect of advertising on new product performance in comprise with competitive product in the market place.

3. To determine the degree of association that exist between the advertising expenditure, and the annual turnover/profit.

1.3.SIGNIFICANT OF THE STUDY

This project will be of importance to the (NASCO)company limited in adopting a more effective way of advertising to take care of uncertainly in the future which is likely to occur in the industry especially in marketing new product entrance. The finding of the study will also be of immense benefit to other companies who may wish to carry out further research work on how advertising can be used when a new product is introduce into the market. The finding will be useful to the marketing department of Kaduna polytechnic who may be interested in researching further into advertising new product or services in Nigeria and final year student in particular who will graduate and go into business word to face problem in the advertising system of the organizations, the student may find themselves.

1.4 SCOPE OF STUDY

The study is concern with advertising as a promotional tool for marketing new product a case study of the NASCO marketing company in the advertisement of beauty toilet soap manufactured by NASCO beauty care division and would in addition be limited to the company’s area of operation due to the financial and time constraints.

1.5 LIMITATIONOF THE STUDY

The scope of the research is limited by factors inherent in our environment such as finance, time and attitude of respondents. The limitation encountered in the course of the investigation are listed below.It is evidently clear that things are very difficult in Nigeria these days. This problem becomes more apparent due to the high cost of transportation, a considerable increase in price of writing, typing and binding material at the time of writing this project due to the devaluation of Naira.The researcher had struggle in between lecture period and data collection. As a result of this, some places which were to be visited were abandoned. The attitude of some consumers or customers who could not ,fill the questionnaire correctly and even some did not return the questionnaire at all. Also attitude of the administrative marketing manager of NASCO towards answering questions. There was the suspicion that information revealed could be used to the detriment of the company, or could be revealed to competitors despite the assurance from the researcher that all information provided will be treated with utmost secrecy.

(Video) 23 Advertising Techniques Used to Create Powerful and Persuasive Ads

1.6STATEMENT OF HYPOTHESIS

For the purpose of this study the following hypothesis have been formulated;

H0: Advertising is insignificant in the new product development and marketing process especially in NASCO groups of companies, Jos.

H1: Advertising is significant in the new product development and marketing process especially in NASCO groups of companies Jos.

1.7 DEFINITION OF TERMS

Marketing:The management process responsible for identifying, anticipating and satisfying customers requirement profitable.

Product:Product is anything that can be offered to market for attention, acquisition or consumption, it includes physical objects, services, personalities, places, organization and ideas.

Proportional tool:Are the various methods pf proportion that a company can adopt. Such as advertising, personal selling, sales promotion, public elations and publicity.

Advertising:This is a form of paid public announcement intended to promote the sale of commodity or services or to bring about some other effects desired by adviser. It is essentially a form of communication through such diverse media as handbills, newspapers, letters and radio television broadcast.

Market share:is a firm percentage of the industry’s total sales.

Invocation:a new approach or concept in the, production cycle frequency involving the use of invention practiced task.

Product life cycle:Is an attempt to recognize district stages in the sales history of the marketing of a product that begins with commercialization and end with, removal from the market.

(Video) Promotional mix definition

Modification:Any adjustment of an existing product settle and color or model any product improvement or brand change.

Media mass:Communication channel through which a message is passed across to the audience for example, television, radio, magazine etc.

Personal selling:The process of making oral commercial representation during buying or selling interview or services.

Marketing strategy:This is the marketing logic by which the business units expect to achieve the marketing objectives.

Sales promotion:It has been destined as a short term incentive to encourage purchase or sales of product or services.

Tags: ADVERTISING EFFECTIVE PROMOTIONAL TOOL FOR MARKETING NEW PRODUCT MARKETING NEW PRODUCT EFFECTIVE PROMOTIONAL TOOL

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Project information

  • Project Price

    NGN3,000

  • Number of Pages

    76

  • Number of Chapters

    1-5

  • Additional Content

    (Video) 7 Key Steps to Planning and Launching a Successful Marketing Campaign | Marketing 360®

(Video) CHAPTER NO. 1 || ADVERTISING AS A TOOL OF MARKETING || RECENTS TRENDS || BCOM 2ND YEAR 4TH SEM. ||

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FAQs

Why is advertising an effective promotional tool? ›

Advertising is a major promotion tool. It offers planned and controlled message. It can contact and influence numerous people simultaneously, quickly and at a low cost per prospect. Hence, it is called mass means of communication.

What is the most effective promotional tool? ›

Numerous studies have shown that calendars and notepads are the most effective promotional giveaways. The reason for this is that they are used every day, meaning that people are consistently being reminded of your brand. Positive results in terms of brand recognition can also be achieved by the classic pen giveaway.

What is the best promotional tool in any marketing? ›

7 Important Brand Promotion Tools You Should Use as a Marketer
  • Content marketing.
  • Search engine optimization.
  • Social media marketing.
  • Email marketing.
  • Giveaways, promos, and incentives.
  • Influencers.
  • Events sponsorships.
  • Boosting brand awareness.
15 Jun 2021

How is advertising used as a tool of marketing? ›

Informative aims – advertising informs the public about a new product and its characteristics. The purpose of this ad is to raise demand and interest. Persuasive advertising succeeds in a period of increased competitive pressure, it means to convince customer to buy just our product.

What do you think is the most effective promotion tool and why? ›

At certain stages of the buying process, personal selling is the most effective promotion tool in creating customers' preferences, convictions, and actions. In personal selling, personal interactions between two or more people take place.

What is effective advertisement? ›

Effective advertising reaches potential customers and informs them of your products or services. Ideally, advertising should capture the prospective customers attentions attention and entice them to use your product.

What are the advantages of advertisement? ›

The major advantages of advertising are: (1) introduces a new product in the market, (2) expansion of the market, (3) increased sales, (4) fights competition, (5) enhances good-will, (6) educates the consumers, (7) elimination of middlemen, (8) better quality products, (9) supports the salesmanship, (10) more ...

What are some examples of advertising? ›

Print Advertising: Newspaper, magazines, & brochure advertisements, etc. Broadcast Advertising: Television and radio advertisements. Outdoor Advertising: Hoardings, banners, flags, wraps, etc. Digital Advertising: Advertisements displayed over the internet and digital devices.

How is advertising an effective tool to increase sales? ›

Advertising is a way of marketing your business in order to increase sales or make your audience aware of your products or services. Until a customer deals with you directly and actually buys your products or services, your advertising may help to form their first impressions of your business.

Which of the following is more effective tool for promotion process? ›

Personal selling is most effective form of promotion because with this the sales person can convince the buyer by demonstrating the use of product and making changes in the product according to the need of customer.

What is the most important thing while selling a product? ›

The most important skill for selling is the ability to listen. These days, good salespeople say a lot less and listen a lot more. Other skills that can be used to build customer relationships are: questioning.

How is advertising helpful for consumers? ›

Advertising helps in increasing the loyalty of existing customers, replacing lost customers and encouraging existing customers to buy more of a company's products or services. Advertising helps to make consumers aware of a product and aims to build preference for that product over its competitors.

Why advertising is the best tool for communication? ›

Advertising is one of the most prominent and widely used communication tools in a marketing campaign, as its main feature is increasing awareness. Ads can be effective not only for marketing your product or service but also for marketing your brand.

Why do we need to advertise your products? ›

Benefits of advertising

Advertising is a marketing activity that can help you to reach out to potential customers and encourage them to buy your products or services. An effective advertising campaign can help you to: increase customer reach. build customer awareness of your business and brand.

What is your understanding about advertising? ›

Advertising is a marketing tactic involving paying for space to promote a product, service, or cause. The actual promotional messages are called advertisements, or ads for short. The goal of advertising is to reach people most likely to be willing to pay for a company's products or services and entice them to buy.

What are the most effective advertising strategies? ›

Strategies that contribute to effective advertising
  • Identify a target audience. ...
  • Evaluate your existing brand. ...
  • Set your goals. ...
  • Bring in professionals. ...
  • Time and place your ads correctly. ...
  • Invest to grow your reach. ...
  • Enhance your social media ads. ...
  • Evaluate your ads' success.
15 Jun 2021

Which advertising media is most effective? ›

It is the unique combination of this reach together with the huge volume of time spent watching TV that makes it such a powerful form of advertising. For example: In Finland, television reaches 95.6% of the population within a month. Television still reaches 99.2% of the Portuguese population weekly.

How do advertisements attract our attention? ›

It attracts our attention through well designed graphics which always included a picture of the product, sometimes side on and sometimes front on as well as the headlines and the logo of the product or company also attracts the customers.

What is the first step to market and promote products? ›

Step 1: Research Your Ideal Customer/Audience

In your first step to building a marketing strategy, you'll identify an external factor — the ideal people for your business to market to. Start by researching your target audience. Look for patterns in your current or intended customers' demographics and interests.

How do I advertise my product online? ›

10 Marketing Tactics to Promote Your Online Store
  1. Utilize (and keep building) your email list. ...
  2. Boost your organic social presence. ...
  3. Optimize your site for SEO. ...
  4. Create interesting, useful content. ...
  5. Try out Google Ads. ...
  6. Advertise on social platforms. ...
  7. Partner with complementary brands.

How do you attract customers to new brands? ›

5 Tips for Attracting New Customers
  1. Identify Your Ideal New Customers. ...
  2. Use Direct Response Marketing to Attract Customers. ...
  3. Give Something Away to Entice New Customers. ...
  4. Give Your Business a Face Lift to Increase Sales. ...
  5. Get The (Right) Word Out.

How do you attract customers online? ›

How to Attract Customers to Your Online Store: Summary
  1. Create an aesthetic website.
  2. Optimize your product listings.
  3. Use high-quality product images.
  4. Market your store using email marketing, social media, and SEO.
  5. Provide an excellent customer experience and support service.
19 Jul 2022

What do you say to attract customers? ›

20 Marketing Phrases to Attract Customers and Increase ROI
  • Beautiful in Its Simplicity. ...
  • Artistically Inspired. ...
  • Enhance Your Life. ...
  • Enhance Your Beauty. ...
  • Looks so Good on the Outside, It'll Make You Feel Good Inside. ...
  • Never Looked so Good. ...
  • Simply Awesome. ...
  • Perfect From Beginning to End.
23 Nov 2020

How does advertising impact society? ›

Advertising has brought in an advanced manner of building awareness about any product or a service in the society. It has enabled the consumers to have knowledge about the service or the product before making any purchase. Advertising has grown on the levels of creativity and innovation.

What are the functions of advertising? ›

The five functions of advertising are informing, influencing, increasing salience, adding value, and other efforts. Companies inform by presenting data about their organizations and products. They Influence by convincing consumers to buy certain products or services over others.

What is the most important characteristic of effective advertising? ›

Appealing to Emotion

Appealing to potential customers' emotions prompts them to think about how your product or service will benefit them. Humor tends to prompt strong reactions, when it supports the ad's message rather than confusing it.

Do you think advertising is important for development of a society? ›

Advertising is instrumental in generating more employment opportunities and creating diverse kinds of jobs. It provides jobs to artists, screen printers, block-makers, script-writers, painter, etc. Today, advertising has become a profession. Some companies do only advertising job.

Why is online advertising important? ›

Online advertising allows you to find, reach, and engage people who are likely to be interested in your business without spending money on an overly broad audience. Online advertising offers granular audience information, so you can focus your efforts effectively.

Which is the best example of a good advertising? ›

The Best Advertising Campaigns of All Time (And What Made Them Successful )
  1. Nike: Just Do It. Ad Campaign: Print, Television, Internet. Source: brandchannel. ...
  2. Coke: Share a Coke. Ad Campaign: Print. ...
  3. Absolut Vodka: The Absolut Bottle. Ad Campaign: Print. ...
  4. Anheuser-Busch: Whassup (1999) Ad Campaign: Television.
19 May 2020

What is the most effective advertising technique in promoting a small business Why? ›

Which Marketing is Best for Small Business? The most effective marketing combines social media, networking, and traditional methods like flyers, posters, and cold-calling. However, social media advertising reaches the most people the quickest.

What is the most effective promotional tool in making buyers preferences? ›

Personal Selling:

Effective at building buyers preferences, convictions and actions. Cost per person is high, most expensive promotional tool.

Why is it important to ensure effective customer relationships are maintained? ›

Building a working relationship with customers is key to the long-term success of a business. Having a strong connection based on trust and communication helps customers feel more secure and connected with a brand, and it can also lead to growing customer retention and your repeat purchase rate.

Which is the best factor to consider in introducing a new product in the market? ›

According to Entrepreneur, there are several critical factors to consider when marketing a new product, including the competition, the ideal customer, the unique selling proposition (USP), testing, media campaigns and understanding the life cycle of the product.

What does a business need to adjust to create a brand image for a product? ›

There are several requirements that you'll need to address as you develop your brand image:
  1. Identify Your Key Audiences. The first step is to identify your target audiences. ...
  2. Determine Critical Business Goals. You have to know where you are going before you can get there. ...
  3. Define Your Brand Persona. ...
  4. Develop Key Messaging.

Why advertising is the best tool for communication? ›

Advertising is one of the most prominent and widely used communication tools in a marketing campaign, as its main feature is increasing awareness. Ads can be effective not only for marketing your product or service but also for marketing your brand.

How is advertising an effective tool to increase sales? ›

Advertising is a way of marketing your business in order to increase sales or make your audience aware of your products or services. Until a customer deals with you directly and actually buys your products or services, your advertising may help to form their first impressions of your business.

How is advertising an effective tool to increase sales also discuss the role of advertising being played in the economy? ›

Advertising plays a strong role in the economy: It provides useful information to consumers that tells them about product and service choices, as well as comparing features, benefits, and prices. With more complete information, consumers and businesses often choose to purchase additional products and services.

Is advertising a tool of media awareness? ›

The results revealed that advertising tools exert impact in creating awareness, providing information, and enhancing knowledge of the target respondents. However, the advertising tools found to be more effective in providing information and enhancing knowledge.

What is importance of advertisement? ›

Advertising is important because it can drive business growth. Advertising works to amplify your small business marketing efforts and helps you reach the right audience with positive, targeted messaging that converts potential customers into paying customers.

Which of the following is an effective advertising tool? ›

Television. A television is an effective multimedia advertising tool that allows advertisers to reach a wide audience.

How advertisements are effective way of communicating the quality of products? ›

Advertising is usually your best communication method for building a long-term brand image. The control factor is important to branding because you want to present a clear, consistent message about your brand, including emphasis on factors like product quality, customer service, low price or durability.

How do advertisements attract our attention? ›

It attracts our attention through well designed graphics which always included a picture of the product, sometimes side on and sometimes front on as well as the headlines and the logo of the product or company also attracts the customers.

Why is advertising important to consumers? ›

#1 Advertising is a crucial part of marketing

Marketing identifies what customers want, encourages them to buy, and engages with them afterward to retain their loyalty. To get their attention and let them know you have what they're looking for, you need advertising.

What is the most effective advertising technique in promoting a small business Why? ›

Which Marketing is Best for Small Business? The most effective marketing combines social media, networking, and traditional methods like flyers, posters, and cold-calling. However, social media advertising reaches the most people the quickest.

What is advertising what do you understand by principles of advertising discuss with examples? ›

Advertising has three primary objectives: to inform, to persuade, and to remind. Informative Advertising creates awareness of brands, products, services, and ideas. It announces new products and programs and can educate people about the attributes and benefits of new or established products.

How does advertising affect the value of a product? ›

Advertising affects consumer preferences and tastes, changes product attributes, and differentiates the product from competitive offerings. Advertising informs consumers about product attributes and does not change the way they value those attributes.

How does advertising affect product awareness and use? ›

Advertising helps to make consumers aware of a product and aims to build preference for that product over its competitors. If advertising succeeds in those two tasks, consumers will choose the advertised product when they make their next purchase.

How does advertising affect people? ›

Advertising makes us think that everything we need is for sale. Another serious ill effect of advertising is that it feeds us with the wrong impression that everything we need can be bought, and hence that money should be our measure of success and prime goal in life.

What is the most important rule of advertising? ›

The Rule of 27

You truly see only one out of every three ads put in front of you. And you take action only after you've seen a brand's marketing nine times. So, it takes at least 27 impressions of a brand before a prospect even responds. Think about that for a second.

What are advertising effects? ›

The model form gives rise to three possible advertising effects: brand loyalty, current effects (both simple and compound) and carryover effects. The inherent nature of these effects is related to the degree of involvement and the affective or cognitive aspects of the purchase decision.

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