The Impact of Advertising on the Company Marketing Growth
Abstract of The Impact of Advertising on the Company Marketing Growth
The purpose of this study is the impact of advertising on the company’s marketing growth of peacock paint limited ikot Ekam Akwa ibom state. In carrying out this research lack of found inappriate timing or context of message exposure and inability to choose right media were problems. The researcher used survey research design; the sources data used in this study consist of the staff of peacock paint limited at Ikot Ekan and the customers of the company’s products in the same areas. Peacock paint limited has staff population of 120 and customer’s population of (500) respectively stratified sampling method and questionnaire method were used in generating data for the study simple percentage was used to test the hypothesis at 5% level of significance the major findings of the study is the peacock carries out advertising and has positive impact on the marketing growth of the company. Based on this , it was concluded that adverting leads to increase of marketing growth at peacock paint limited Ikot Ekam the following recommendations were given based on the finding adequate advertising budget showed be appropriate for the company’s marketing growth and that peacock paint limited should consider other functions of advertising like educating the customers on the product information and creating awareness which could result in increase of the company’s marketing growth in long run.
Chapter One of The Impact of Advertising on the Company Marketing Growth
INTRODUCTION
The present world of information technology the important of advertising as one of the promotional tool cannot be over emphasized. Advertising being one of the promotional tool is conceived all over the world as well as in marketing environment as one of the vehicle of spreading, informing and creating awareness about the availability of a product, product benefits.
Advertising according to Percy Rossites (1994:4) is a process of relatively indirect persuasion based on information about product benefits which is designed to create favorable mental impression that turn the mind towards purchase.
According to Ezirim A. et al (2006:11) advertising is a paid form of non personal sales presentation and promotion usually to a large number of potential customers by a an identified sponsor. It involves the mass media such as newspaper, television, radio magazines and bill board, moreso, advertising is widely use in many different ways and has been classified into local manufacturer, consumer, retailer industrial corporate, charity educational and recruitment advertising.
Market growth is the combination of sales of all products in all territories for all customers. In this case, the only data needed are total sales figure for this company over the past several years and the annual industry sales in the geographical market covered by the firm.
According to Ezirim et al (2006:3) marketing growth is express in quantitative or volume terms. The situational analysis of advertising us it is apply to peakcockpaint limited, Ikot Ikpene is given on the following heading. Advertising objectives, peackcock paint use advertising to achieve the following.
1. To create awareness about the existence of peacock paint product.
2. To introduce new product of peacock paint limited.
3. To maintain brand loyalty to the peacock paint product.
4. To build positive image
5. To obtain dealers support.
1.1 historical background of the company
Peacock paint limited was established in 1989 as a private limited liability company in November 1989 with the principles objectives of producing and marketing paints and allied products. It is located at that Ekan in Asuna community in Etinan local government of Akwa Ibom state. The principal sponsor of company investment trust company limited, S.D. group and company of copehagen, industrialization fund for developing countries (IFU) Demark and Nigeria businessmen.
Te company started production in 1984 and was officially commissioned in April 1986 by the late corned Dan Patrick Arch Bong of the than installed capacity of 3.0 million litres of paints per annual.
Armed with its state of the arts equipment and modern paint production facilities coupled with highly qualified and dedicated technical and administrative staff. There’re ten major department in the company of peacock paint. Each of the department is managed by manager peacock paint has been specified and used various government agencies and private sector and individuals, the company producer.
DECORATIVE PAINTS
Peacock paint limited producer two grade of paints e.g. premium qualifies: these are top quality product
– Peacock useful enamet
– Pealux world premiers.
STANDARD QUALITIES
These are standard quality paints principally recommendations for use on interior of building. The second one is the industrial protective and marine paint that is used by oil comprises also producers. Thinners – peacock paints limited also producers a wide range of thinner for thinning the products foremation These products are manufacture in variety of colour as per our colour produced in customers choice colours.
BUDGET DECISION
These are the issues that involves in budget decision or peacock paint limited as it relate to advertising, affordable approarchl method is adopted, percentage on sales.
MESSAGE DECISION
The choice of message generating and message components has been issued that brings concern to the organization. In this respect message has been properly generated, evaluated and selected.
MEDIA DECISION
Media choice is one of the important decision advertising. Peacock paint has put into consideration the following factors, the read, frequency, impact, special media vehicle and timing before selecting any media. In view of this the following media channels are for advertising peacock paints are radio, television, and prints bill board and newspaper.
PROBLEMS
The major problems faced by the organization are related to the advertisement are funding media selected frequency and message design.