Full Project – The effectiveness of promotional campaign advertisement on sales of LG electronic products

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CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

Advertising is any paid form of non-personal communication about an organization or its product to a target audience through a mass medium by an identified sponsor. It should be observed that any promotional activity that is called advertising must be paid for. In the real sense, it is the method used by companies for creating awareness for their products, as well as making new products known to the new and potential buyers or customers.

This project however, centers on the effectiveness of advertising as a promotional tool. This work will shed light on how advertising can really affect a consumer’s buying decision.

In a growing economy like that of Nigeria and how successful advertising can keep business going even in the midst of tough competition. Furthermore, advertising as a promotional tool also tends to remind, measures and influences the decisions of the customers because an advertisement itself enlightens, educates and persuades customers on their acceptability of the products offered.

In a free capitalist, economics promotion play an important role, this fact has been established by marketing experts as a tool. Promotion can be used for not only creating awareness for the products, but also in estimation demand through diverse techniques firm which can use any of these or a combination of one or more to achieve their personal goals, depending on the nature of the product the firm’s financial strength etc.

Due to the growth of electronic manufacturing industries in the recent years and with the existence of competition and different brands in the electronic market, there is the need for effective advertising strategy which will not only inform and persuade customers but also helps the customer to maintain the brand. Advertising in print media such as (newspaper, magazines, bill boards, flyers) or broadcast such as (radio and television) usually consists of pictures, information about the product and occasionally a response coupon (receipt), broadcast advertisement on the other hand consist of an audio or video narrative that can range from its seconds to longer segment known as , infomercials, which generally last between 30 minutes to one hour (Busari, 2002).

Advertisement can also be seen on the streets (grocery carts), on the walls of airport walkway, on the sides of buses, airplane and trains. Advertisements are usually placed anywhere an audience can easily or frequently access visualize. (Busari, 2002).

1.2 Statement of the Problem

Due to the high rate of competition in today’s market, many companies or organization are finding it hard to make their products known to the public. As a result of this, companies and organization are adopting the use of adverting and other promotional tool in marketing their products.

L.G ELECTRONIC CO. LTD are not also left out in this. The essence of this study is to ascertain the effectiveness of these promotional elements on sales, using L.G ELECTRONIC LIMITED.

1.3 Objective of the Study 

This project work is based on the drive to know the effect of advertising as a promotional tool in a company or organization and how these promotional tools can keep the company going in business, in other not to deviate from the original intention and motive. The following will therefore form the objectives. These are as follows:

1. To determine if advert promo helps to boost sales of LG electronic products.
2. To determine if advertisement of LG electronic products motivates the customers to purchase the products.
3. To know the best medium that could be used to promote sales of LG electronic product.

1.4 Research Questions

1. Does advert promo help to boost sales of LG electronic products?
2. Does advertisement of LG electronic product motivate the customers to purchase the products?
3. What is the best medium that could be used to promote sales of LG electronic product?

1.5. Significance of the Study

This research will be of great benefit to the organization because; it will enable management to employ the right medium to advertise their products and also to create awareness of their products in other to boost sales. It will also be of immense benefit to every organizations in the country because; it will enable them to understand the importance or effectiveness of advertisement and other promotional tools in creating awareness of products. Finally, this study will serve as reference point to current and future researchers on similar topic.

1.6 Scope of the Study

This study is concerned with the impact of advertising as promotional tools on sales of LG electronic products, with focus on LG Electronic Limited. In addition also to examine their product life cycle and how it is designed to pass through its development stages, such that the findings may not reflect the situation in the whole country.

1.7 Limitation of the Study

The limitations encountered in the course of this study are as listed below:

Finance: This is a major problem encountered in the course of this study as it slowed down the rate of movement in sourcing for material.

Time Constraint: Time factor was also one of the major challenges faced in the project due to the fact that there was no enough time moving often and often searching for information, and also the time frame for this project was very short. And lastly the attitude of  some  of the respondents in answering the questionnaire is another limitation to this study, some refused to answer the questionnaire, while some were reluctant in answering the questionnaire.

1.8 Definition of key Terms

1. ADVERTISING: This is any paid form of non-personal presentation of ideas, goods and services by an identified sponsor.
2. CONSUMER: These are the persons which the advertisement and products/services are directed to, they are known as the buyers of a company’s product.
3. ELECTRONIC MEDIA: This includes radio, television and the internet which can either be a product or services.
4. MARKETING: This is the process or technique of promoting, selling and distributing a product or service.
5. PRODUCER: This is a person who supervises or finances a work (as a staged or recorded performance) for exhibition or dissemination to the public.
6. PROMOTIONAL: This is an act of moving someone to a higher important position or rank in an organization.
7. TOOL: This is an equipment that is used in a profession, e.g. tools of trade or advertising. It is also known as an instrument that is used to perform an operation on something.

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Full Project – The effectiveness of promotional campaign advertisement on sales of LG electronic products