ADVERTISING: AN EFFECTIVE PROMOTIONAL TOOL FOR MARKETING NEW PRODUCTS
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ADVERTISING: AN EFFECTIVE PROMOTIONAL TOOL FOR MARKETING NEW PRODUCTS
ABSTRACT
Variables in the promotional mix differ in their effectiveness in generating consumer attention and influencing purchase decisions. This study attempts to examine the efficiency of advertising,
which is one of the promotional mix elements utilised by the NASCO group of firms, Jos. Currently, NASCO household products are market leaders in the majority of the country.
This study examines the extent to which advertising is viewed as critical in achieving the company’s corporate goals. The population for this study is 1,000, and a sample size of one hundred and ten (110) is chosen for this investigation.
In addition, the following hypothesis was investigated and validated in this project:Ho: Advertising is unimportant in the new product development and marketing process, particularly in the NASCO group of enterprises Jos.
H1 Advertising is critical in the new product development and marketing processes, particularly in the NASCO group of firms Jos. Based on the chi-square test, the calculated x2 hypothesis has a higher rating of 15.3 than the tabular value, hence H1 is accepted.
The study also discovered that, while advertising plays an essential role in influencing consumer purchase decisions for NASCO products, relying solely on TV commercial advertising is not ideal because other advertising mediums are also crucial in a competitive marketing environment like Nigeria.
It is thus recommended that immediate actions be taken to assess consumer media preferences in order to implement a more successful media strategy for the organisation.
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