SALES PROMOTION AND advertisement BENEFITS IN PROMOTING ORGANIZATION products (A case STUDY OF PROMASIDOR NIG LTD)
This study examined the impact of sales promotion and advertising on the promotion of an organization's products (a case study of promasidor Nig ltd). 200 employees of Promasidor Nig ltd. make up the study's population. The researcher utilized questionnaires as the data gathering instrument. Using a descriptive survey research design, this study was conducted. The study included 133 managers, production managers, senior staff, and junior staff as respondents. The acquired data were tabulated and evaluated using straightforward percentages and frequencies.
Background of the study
Currently, organizations are experiencing rapid expansion and frequently disruptive transformations as a result of the rapid development of information technology and technology. Sales promotion and advertising consist of short-term incentives to increase product sales and advertising. Kotter and Amstrong (2004). Additionally, Dennis (1993) states that sales promotion and advertising in marketing activities other than personal selling and public relations that promote consumer purchase and dealer efficiency, such as display exhibitions, etc. Profitability, on the other hand, refers to the enhancement of the profit derived from business or the sale of goods, particularly after deducting the associated expenses. Organizations must communicate with genuine possible busters. This is required because if you do not state “I am here,” no one will know that you are present. As a potential group, there is a need for product distinction, which is difficult to achieve with the current communication infrastructure. Sale promotion activities such as price, cut, and trade stamp coupons, premiums, context, free trial products, etc. are crucial for generating high sales and encouraging consumers to purchase their products. If an organization has well-designed items, it will be extremely difficult for them to sell them, and they will be of no use to society. Huge sums of money are currently being invested by numerous organizations and religious groups in advertising and sales promotion. The reason for this is the drive for short-term profit, the accountability aspects, the shift in the market, and the growing influence of retailers and consumers. Organizations are spending money on advertising and sales promotion, which provides an instant boost in profit. In this context, the effects of advertising and sales promotion on a company's overall earnings are discussed.
Statement of the problem
Many businesses and organizations that provide comparable services face competition from rivals. To avoid going out of business, a company must engage in advertising and sales promotion that enable it to maintain a market share. This study, conducted in the company “promasidor Nig LTD,” will evaluate the following in order to determine whether advertising and sales promotion may be utilized as an effective marketing tool. How the profitability of a business can be achieved and maintained How sales promotion and advertising will contribute to the profitability of the company. The importance of sales promotion and advertising profitability How organizations might utilize sales promotion and advertising.
Objectives of the study
The study's aims are as follows:
Determine whether sale marketing and advertising can function as a profitable instrument for the company.
Determine how a business can employ sales promotion and advertising
Determine if sale promotion can serve as an efficient marketing tool
Sale marketing and advertising cannot contribute to the profitability of a business.
Sale marketing and advertising can be an excellent method for enhancing the profitability of a business.
The second hypothesis
Sale promotions are ineffective as a marketing strategy
Sale promotions can be an effective marketing strategy
Importance of the research
The research has the following implications: It will assist the business in understanding how to employ advertising and promotional strategies to increase their revenue. The study will bring the business and its consumers closer together, allowing the organization to better understand the consumers' preferences and desires. This study will assist management in determining whether or not advertising and sales promotion may boost their sales volume. Finally, the study will inform the consumer of the value of consuming the organization's product.
Limitations and scope of the study
Benefits of sales promotion and advertising in promoting organization items are the focus of this study (a case study of promasidor Nig ltd). The researcher faces a constraint that restricts the study's scope;
a) AVAILABILITY OF RESEARCH MATERIAL: The researcher has insufficient research material, consequently limiting the scope of the investigation.
b) TIME: The time allotted for the study does not allow for a broader scope because the researcher must mix it with other academic activities and examinations.
1.7 DEFINITION OF TERMS
This is a brief offer of alternative rates and enticement incentives to buyers. These inducements include free sample trade stamps, trade fairs, and bonaza's price bargains, among others (Busarietial 2002)
ADVERTISEMENT is typically described as any type of paid, non-personal presentation and promotion of ideas, commodities, or services by a clearly acknowledged sponsor. Anyanwu (2000) provides a more inclusive definition of advertising by incorporating the three perspectives of society, consumers, and businesses. Advertising was characterized by him as “primary instruments in the marketing decision variable enterprises employed to inform, convince, and educate customers about product offerings by a designated sponsor with the goal of enhancing product and service performance.”
This is the efficient and effective utilization of scarce resources in order to generate a profit.
FREE SAMPLE: This is the product offered to individuals in order for them to evaluate the quality of the material and what it can do in order to entice them to purchase the goods and service.
This is the third part of the marketing mix: promotion. It comprises all of an organization's efforts to bring its service to the notice of customers or consumers.
Marketing is the execution of commercial activities that steer the flow of goods and services from the corporation, the producer, to the consumers or users.
SALES PROMOTION AND ADVERTISEMENT BENEFITS IN PROMOTING ORGANIZATION PRODUCTS (A CASE STUDY OF PROMASIDOR NIG LTD)