ADVERTISING AS A ‘’POWER TOOL’’ FOR BUSINESS GROWTH (A CASE STUDY OF NIGERIAN BOTTLING COMPANY PLC) . A RESEARCH PROJECT MATERIAL ON MARKETING
ABSTRACT
The study was on Advertising as a Power Tool for Business Growth. Advertising refers to any form of non-personal presentation or promotion of ideas, goods and services by an identified sponsor. The raison d’ taire of advertising is to create awareness of a product and to further stimulate brand preference. Therefore, its role in the pursuant of a company’s profit making objective cannot be over emphasized.
The study used the Nigerian Bottling Company (NBC) Plc, Benin City branch as its case study. One would be tempted to think that a company as renowned as NBC would be laid back in its advertising practices. But that is not the case. The Company is a fervent advertiser of its products through almost all the advertising media of television, radio, print, out-door (bill boards) to mention but a few.
The objectives of the study therefore are to find out if indeed advertising builds primary demand, the extent to which it fosters consumer loyalty & its relationship with sales volume.
Finally, the study concludes on the note that even “big” names have no choice, but to keep on advertising …. and advertising, for business sustenance and growth.
CHAPTER ONE
1.1 BACKGROUND OF STUDY
Almost all economic activities are geared towards ensuring that the right goods and services are produced and find their way to customer. This involves a process called marketing.
Marketing decisions focus on consumer needs, hence it seeks to guide or accomplish organisations objective of consumer satisfaction and company profitability.
In a bid to direct the flow of products and services to satisfy customer needs, and at a profit, the marketing mix is developed.
The marketing mix observes that the marketing manager has a limited number of ingredients (marketing elements) at his disposal, but like a master chef, he can combine these into an almost limitless number of recipes to achieve the organisation’s objective of maximizing profit and staying in business.
The four ‘P’s make up the marketing mix. These are:
(i) Product
(ii) Price
(iii) Place
(iv) Promotion
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