ABSTRACT
The study
examined the effects of
advertisement on the success of an organisation using Diamond bank adverts as a
study. The objectives behind the study were to find out various advertising
strategies employed by Diamond bank to reach its numerous customers, ascertain
how effective these advertising strategies are, to ascertain the extent to
which these advertisements of Diamond bank have contributed to the patronage of
their service in Nigeria and to identify other areas these advertisements have
improved in the organisation. A total number of sixty (60) questionnaires were
administered to Staff members of diamond banks in Enugu state and a total of
fifty two 52 were retrieved were surveyed. The finding of the study revealed
that all respondents agree that diamond bank engage in various advertising
strategies to reach their numerous audience. Respondents also agree that
television advert is the major the advertising media strategy of the bank. The
finding of the study also revealed that the various advertising strategy used
by diamond bank is very effective toward achieving its objective. The study disclosed that most of the respondents indicated
that the various advertisement of diamond bank has improved the area of
expansion of the bank system. Also the finding revealed that the various
advertisement contribute to the patronage level of the bank and this is to a
great extent. It concludes that advertisement is
a veritable tool for achieving the objectives of a business organisation. It
thus recommends that Banks should pay more attention on their advertising
strategies in other to gain more customers.
CHAPTER
ONE
INTRODUCTION
1.1 Background to the Study
Every business organization that is determined
to succeed has to adopt an effective system for the promotion, distribution and
sales of its services or product. Advertising is of three general means in term
of communication. We read it and/or watch it, and there are almost countless
means of delivery with sales message.
Advertising is a form of mass communication with the
public. It is usually one sided i.e. from the company to the buyer/potential
user of the product. It is a form of communication that typically attempts to
persuade the potential customers to purchase or consume more of a particular
brand of product/services. As rightly defined by Bovee (1995), "advertising
is the non-personal communication of information usually paid for and usually persuasive
in nature about products, services or ideas by identified sponsors through the
various media."
Advertising an important tool of
communication is use to promote commercial goods and services, it can also be
used to inform, educate and motivate the public about non-commercial issues
such as AIDS, Don't drink and drive, Polio, Save water, electricity, animals
and trees etc. "Advertising justifies its existence when used in the
public interest - it is much too powerful tool to use solely for commercial
purposes” Baron (2004).
Advertising is most effective
with products that can be differentiated from similar products based on
consumer accepted quality difference. Tom Egelhoff (2006) has classified
advertising in 6 types, i.e. for company image, name brands, advertising
service instead of a product, business-to-business advertising, co-op
advertising and public service advertising. Television, Radio, Cinema,
Magazine, Journal, Newspaper, Video Game, Internet, Billboard, Transit Cards,
Sandwich Board, Skywriting are the different mediums used to deliver the
message. The companies choose the method according to the cost, budget, target
audiences and their response. However, word of mouth advertising/ personal
recommendations is an unpaid form of advertising which can provide good
exposure at minimum cost.
Although Television advertising is very important for
a business to succeed, it can also be very expensive. In its first year, a
company might spend as much as half of its sales on advertising programs. Business
success doesn’t happen by accident; it requires careful thought and planning
Chris Joseph(2013).
The heart of your business success lies in its
advertisement. Most aspect of your business depend on successful advertisement
Without advertisement, your business may offer the best products services in
your industry, but none of your potential customers would know about it. (Kristie
Lorette (2005)
Winston(2007) in his own view report that industries,
which advertise heavily, tend to have higher profits rate than low advertiser,
so that study will also show how sales is affected by Advertising because of
the long term effect it has on sales.
Television advertising has long term effect on sales.
Television advertising in short hold out the promises of greater and speed up
return that would occur without it. Television advertising stimulate economic
growth by acquainting the consumers with value of products widen the market for
these products, pushes forward their acceptance by the consumer and encourage the
investment and entrepreneurship necessary for innovation.
So Television advertising has a long term effect on
consumer because of the informational aspect of the message and the persuasive,
aspect as well, which will now serves as a reference point for the consumer
when they want to act through buying of the product being advertised. It is
most effective as a reinforcing of favourable attitudes, values and disposition
already held by consumer.
Television Advertising is a very powerful institution
and has been the target of considerable criticism regarding its social and
economic impact. Critics always argue that television advertising is deceptive
and untruthful; that it is often offensive, irritating, or in poor taste; and
that is exploits certain groups, such as children. Many people believe,
television advertising should be informative only and television advertising
should not use subjective claims, puffery, embellishment, or persuasive
techniques. Organization clearly understood that effective and efficient
communication is inevitable for their success.
Television Advertising is any paid form of
non-personal communication about an organization or its product to a target
audience by an identified sponsor. It should be observed that for any
promotional activity to be called advertisement it must be paid for.
In the real sense, it is the method used by companies
for creating awareness of their products, as well as making new products known
to the new and potential consumers.
This study however,
centres on the effect of advertising on the success of an organization. This
work shed light on how television advertising can really affect a consumer’s
buying decisions in a growing economy like that of Nigeria and how successful
television advertising can keep an organisation
going even in the midst a tough competition.
1.2
Statement of Problem
Adverting is a critical
factor as long as the success of an organization is concerned. This is because
adverting makes an organization to stand out as well as increase visibility and
profit Alonge (2001).
In Nigeria today the
success of organizations has been tagged to be a product of the use of
celebrities, good public relations as well as marketing. The effect of
adverting in these cannot be over emphasized as it has led to tremendous
profitability in organizations.
Scholars have
previously attempted to find out the effect of celebrity endorsement in the
success of an organization, others have researched upon public relations as a
tool of organizational objectives achievement. This study however seeks to find
the effect of advertisement on the success of an organization using Diamond
Bank adverts as a study.
1.3 Objectives of study
The aim of this study
is to:
1.
To find out various advertising
strategies employed by Diamond bank to reach its numerous customers.
2.
To ascertain how effective these
advertising strategies are.
3.
To ascertain the extent to which these
advertisements of Diamond bank have contributed to the patronage of their
service in Nigeria.
4. To
identify other areas these advertisements have improved in the organisation.
1.4
Research
Questions
The following below are
the research questions for this study;
1.
What are the various advertising
strategies employed by Diamond bank to reach its numerous customers?
2.
How effective are these advertising
strategies?
3.
What is the extent to which these
advertisements of Diamond bank have contributed to the patronage of their
service in Nigeria?
4. What
are the other areas these advertisements have improved in the organisation?
1.5 Significance of study
This study will
discover the influence of adverts on organization success. It will help network
communication organisation know the essence of advertising as long as their
success is concerned. It will also serve as guideline for further researchers
both in communication and marketing as well as students to know how to utilize
advertising in the achievement of organizational goals. It will help to expose
prospective professionals on the various strategies use by organisation to
achieve success on a long or short run.
1.6 Scope of study
This study will cover
television adverts in Diamond bank with a view of discovering the influence of
the adverts to the organizational success. The study will be limited to various
diamond banks in Enugu state, in southeastern Nigeria,
created in 1991, based on the limited time attached to the study.
1.7 Operational
definition of terms
Influence:
the result or impact of Diamond bank adverts on its audience use of advertising
in Diamond adverts
Advertisement:
a communication solicitation designed to sell diamond bank services relayed on
television.
Organisation:
Diamond
bank
Business:
a
firm that engage in the buying and selling of goods and services for the
purposes of national development and profit making.
References
Adewale, O.A (2000). The Impact of advertising on sale volume of
a product; Bachelors thesis Of Hamk University of Applied Science
Alonge, (2001). Essentials of commerce for secondary school,
advertising. Ibadan: Tonad publishing
Bovee, L., &Arens, H. (1995). Advertising
excellence. USA: Mc-Graw Hall Inc
Baron, A. (2004). The
retailer – study on successful marketing and advertising. London:
Association Business Press.
Belch, G. and Belch, M.A
(2001). Advertising and promotion: an
integrated marketing communications perspective. Boston: Mc Graw-Hill.
Goldman,
D. (2005). The effectiveness of television advertising, New York:
Advertising as a Signal Norway Journal of Political Economy.
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