ADVERTISING MEDIA AND MARKETING PERFORMANCE OF CONFECTIONERY ENTERPRISES IN ABIA STATE, NIGERIA

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ABSTRACT

The study was designed to analyze advertising and marketing performance of confectionery enterprises in Abia State. Primary data were used for the study. Data collected were done by the use of a structured questionnaire. Four hypotheses were tested in the study. One hundred and twelve confectionery enterprises were sampled for the study. Descriptive statistics, ordinary least square (OLS) multiple regression analysis, and multinomial logistic regression technique were employed in analyzing the data obtained for the study. The findings of the study showed that confectionery enterprises in the study area were operated by actively age individuals who are educated, experienced with moderate household size. Advertisement of products is a major task to the confectionery enterprises in the study area and is done on a regular basis. All the studied confectionery enterprises in the study area advertised their products through the adoption of both electronic and print media. Television advertising, radio advertising, newspaper advertising, poster advertising, flyers advertising and magazine advertising influenced the market share, sales volume and profitability of confectionery enterprises in Abia State. Flexibility, speed of delivery, accuracy of delivery, targeted audience, stage in product life cycle, and size of advertising budget influenced the choice of advertising by the confectionery enterprises in Abia State. The study recommended that any effort to enhance the market share, sales volume and profitability of confectionery enterprises must pay attention to such factors as television advertising, radio advertising, newspaper advertising, poster advertising, flyers advertising and magazine advertising which influenced the market share, sales volume, and profitability of confectionery enterprises in Abia State as evident from the study.







TABLE OF CONTENTS


Title Page                                                                                                                                i

Declaration                                                                                                                             ii

Certification                                                                                                                           iii

Dedication                                                                                                                              iv

Acknowledgements                                                                                                                vi

List of Tables                                                                                                                          ix

Abstract                                                                                                                                   x

 

CHAPTER 1: INTRODUCTION

1.1       Background to the Study                                                                                            1

1.2       Statement of the Problem                                                                                           3

1.3       Objectives of the Study                                                                                              5

1.4       Research Questions                                                                                                    5

1.5       Research Hypotheses                                                                                                  6

1.6       Significance of the Study                                                                                           6

1.7       Scope of the Study                                                                                                      7

1.8       Limitations to the study                                                                                              8

1.9       Operational Definition of Terms                                                                                8

CHAPTER 2: REVIEW OF RELATED LITERATURE

2.1       Conceptual Framework                                                                                              10

2.1.1    Concept of advertising                                                                                               10       

2.1.2    Concept of marketing                                                                                                 17       

2.1.3    Concept of performance                                                                                             21

2.1.4    Concept of profitability                                                                                              22

2.1.5    Concept of market share                                                                                             22

2.1.6    Other issues of advertising                                                                                         23

2.1.6.1 Setting the advertising objectives                                                                               23

2.1.7    Developing advertising message                                                                                25

2.1.8    Functions of advertising                                                                                             27

2.1.9    Major advertising decisions                                                                                        28

2.1.10  Advertising media                                                                                                      31

2.1.11  Factors that influences the choice of advertising media                                           32

2.1.12  Methods adopted for advertising budgets                                                                  34

2.1.13  Measuring advertising effectiveness                                                                          36

2.1.14  Testing of the advertising                                                                                           39

2.1.15  Criticism of advertising                                                                                              40

2.2       Theoretical Review                                                                                                    41

2.2.1    Assimilation theory                                                                                                    42

2.2.2    Contrast theory                                                                                                           42

2.2.3    Assimilation-contrast theory                                                                                      43

2.2.4    The Sales effect theory                                                                                               43

2.2.5    The Marshalian theory                                                                                                44

2.2.6    Cognitive dissonance theory                                                                                      45

2.2.7    Gap theory                                                                                                                  45

2.2.8    The Hierarchy of effect model                                                                                   46       

2.3       Review of Empirical Review                                                                                     48

2.4       Summary of Literature Review                                                                                  52

 

CHAPTER 3: METHODOLOGY

3.1       Research Design                                                                                                         53

3.2       Area of the Study                                                                                                        53

3.3       Population of the Study                                                                                              54

3.4       Determination of Sample                                                                                           55

3.5       Sampling Method                                                                                                       56

3.5       Determination of Sample Size                                                                                    56

3.6       Method of Data Collection                                                                                         56

3.7       Administration of the Instrument                                                                               57

3.8       Validity of Instruments                                                                                               57

3.9       Reliability of Instrument                                                                                            57

3.9.1    Result of reliability analysis                                                                                       58

3.10     Method of Data Analysis                                                                                            58

3.11     Model Specification                                                                                                   59

3.11.1  Regression model for the effect of advertising media on the market share of          

the confectionery enterprises in Abia state                                                                59

 

3.11.2  Regression model for the effect of advertising media on the sales volume of the

confectionery enterprises in Abia state                                                                      60

 

3.11.3  Regression model for the effect of advertising media on the profitability of

the confectionery enterprises in Abia state                                                                60

 

3.11.4  Multinomial logistic Regression model of the factors influencing the choice

of any of the advertising media adopted by the firm                                                  62

 

CHAPTER 4: DATA PRESENTATION, ANALYSIS AND INTERPRETATIONS

4.1       Socio-economic Characteristics of the Confectionery Enterprises and its

            Operators in Abia State                                                                                              64

4.2       Analyses of effect of Advertising Media on the market share of Confectionery

            enterprises in Abia State.                                                                                            75

4.3       Analyses of Effect of Advertising Media on the Sales Volume of the Enterprises.           79

4.4       Analyses of Effect of Advertising Media on the Profitability of the Enterprises.           83

4.5       Analyses of the Factors Influencing the Choice of any of the Advertising

            Media Adopted by the Firm.                                                                                      87

 

CHAPTER 5: SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1       Summary                                                                                                                    99

5.2       Conclusion                                                                                                                  101

5.3       Recommendations                                                                                                      102

5.4       Contribution to Knowledge                                                                                        103

5.6       Area of further studies                                                                                                103

            References                                                                                                                  105

 







 

LIST OF TABLES

3.1: Reliability analysis of the responses of the respondents                                                 58

4.1: Socio-economic characteristics of the confectionery enterprise operators

                  In Abia State                                                                                                  64

4.2: Socio-economic characteristics of confectionery enterprises in Abia State                    69

                                               

4.3:   Ordinary least squares multiple regression result of the effect of advertising media

on the market share of confectionery enterprises in Abia State.                             75

 

4.4:            Ordinary least squares multiple regression result of the effect of advertising

                  media onthe sales volume of confectionery enterprises in Abia state.                                  79

 

4.5:             Ordinary least squares multiple regression result of the effect of advertising

                    media on the profitability of confectionery enterprises in Abia state.                                83

 

4.6:      Multinomial logit regression result of the factors influencing the choice of any

of the advertising media adopted by confectionery industries                                  87

 

4.7:             Marginal effect of the factors influencing the choice of any of the advertising

                    media adopted by confectionery enterprises                                                            93


 


 

 

 

 

 

CHAPTER 1

INTRODUCTION


1.1           BACKGROUND TO THE STUDY

It is not enough for a business to have good products sold at attractive prices. To generate sales and profits, the benefits of the products have to be communicated to customers (Kotler, 2003). Since competition among firms is growing, the main goal of firms is to define their strategies in order to achieve maximum performance resulting in greater profits. There is need for an organization to properly coordinate its marketing communication strategies in order to deliver a clear, consistent, credible, and competitive message about itself and its products (Lovelock & Wirtz, 2004). Firms have access to numerous forms of communication referred to as the marketing communication mix. These elements include advertising, sales promotions, personal selling, publicity, public relations, instrumental materials and corporate design (Lovelock & Wirtz, 2004). For most companies, the question is not whether to communicate but rather what to say, how to say it, to whom and how often. But communications get harder and harder as more and more companies clamour to grab the consumers’ increasingly divided attention. “Knowledge is power” and a customer is therefore empowered once he is knowledgeable about a product offered to him (Kamber, 2002). Sales are made much easier and sales volumes can increase when consumers are informed, knowledgeable and possess much more interest in a product due prior advertising (Lancaster & Reynolds, 2005).

Advertising is a source of product differentiation and therefore a source of competitive advantage. Successful advertising contributes to a company’s sales in two ways – by expanding the demand for its products and by reducing the size of product elasticity. Advertising, as a form of mass communication, is aimed at changing the behaviour of the audience (the receiver of the message) to enable them prefer the advertised product or service. Nwokoye (2011) defines advertising as any form of non-personal communication through the mass media that is paid for by an identified sponsor. Ambler (2000) said that advertising creates awareness, communicates attributes and benefits, reminds and refreshes to the ensure awareness. The role played by advertising in the sales growth of an organization cannot be over emphasized. It provides a platform for firms to create awareness about their products and services and how consumers can make the best out of such products.

 Olusegun (2006) asserted that all advertising must be honest and follow ethical standards and must not be perceived as lie, by the consumers, otherwise, it can batter the image of the company and equally hinder it from building successful brands or enhancing its marketing performance. Therefore, for advertisement to be effective, it must have an appeal, attract attention, command interest, inspire conviction and must provoke interest. A number of studies, such as Nigel (1994), Gladson and Chinedu (2005) and Meshach (2007), have shown that advertising is a major competitive tool in establishing market position in the market place.

Advertising plays a major role in the marketing of confectionery products as it designs a global link to educate and raise consumers’ awareness of the role of the treats in a balanced diet and active lifestyle. Food production is of strategic interest to every country, to this note, confectionery enterprise in developing and developed world are regarded as engine of economic growth, though few studies have been carried out in that regard (Kotler, 2013).

Given the different confectionery product category and their potential to provide food and job for the unemployed in the face of today’s population explosion and high food demand, Nigeria as a nation cannot down play the need to better the welfare of the enterprise. It is important that confectionery enterprises be promoted responsibly as it has a positive impact on foreign trade.

To stabilize operation and profitability in the enterprise, there is need for improved promotional activities via advertising, improved production processes, packaging technologies and curtailing the rising cost in raw materials to enhance its performance. To this end, companies use advertising not only to market and promote their products, but to, among other things, wade-off competitors, improve their brands and create a vintage point for their products in the presence of anticipated buyers as persons, organizations, groups, government agencies and different sectors of many economies employ advertising to relay messages to their target public.

Consequently, the researcher decided to conduct this study to determine the effect of advertising in stimulating the marketing performance of confectionery enterprises in Abia state, Nigeria.

 

1.2           STATEMENT OF THE PROBLEM

Advertising is a business concept largely accepted all over the world as an effective marketing communication tools used in effectively communicating the benefits of the product to its target consumers.  Though in recent times, more firms are coming up day by day especially in confectionery enterprise, and the market becoming more and more competitive and dynamic. However, being exposed to unprecedented changes and rapid transformation of knowledge has changed the rules of traditional business game (Faiser, 2009).  These have intensified the level of competition in the industry and this led firms to intensify their advertising campaign, there by using different advertising strategies in order to still remain relevant in the market. In doing this, each firm must discover the appropriate advertising media that best suits its operations, without which an enterprise cannot survive in today’s competitive environment and will be faced with the problem of determining the nature and demands of its offerings in a given market segment and factors responsible for the variation in demand as carelessness to this has led to winding up of many firms.

According to Onwumere, Nwuosu and Nmesirionye (2012), majority of the confectionery firms which bumped into the market in the time past fizzled out of it due to business road bumps associated with the enterprise development. There has been the recurrent loss of market share and drop in the sales volume which has equally reduced the profitability and inhibited the firm’s marketing performance as well. So given that the confectionery enterprise occupy a serious position in the food chain process there is need to beef up its capacity and this calls for increase in productivity, profitability, innovativeness, sales volume, market share and the product quality delivery which can all be promoted with advertising media available to the firm.

Moving on, the confectionery enterprise has fared no better because even the magnitude of the capital facility need of the enterprise has not been fully met and thus the economic welfare and profitability is jeopardized (Onwumere, et al, 2012). The confectionery enterprise which are managed by their owners and most often close relation, fail to realize the importance of external source of capital which could enable expansion in the business, lack of short, medium and long-term credit facilities affects to a great extent the performance of the enterprise, thereby posing a major setback to the realization of many brilliant business idea that could enhance the firms’ profitability. Even when the finance house agrees to provide capital, conditions are always dreadful. About 80% of small and medium enterprises are pushed out of business because of poor financing (Olajide, 2008). Although, it is common for people to relate performance of the company with the priority it gives to advertising, people tend to forget that advertising budget are huge source of cost for the organization. The amount of resources committed by firms to advertising has steadily grown over the years because of the increased awareness and sophistication of consumers taste and preferences, and even their needs and wants as well. Companies in Nigeria, particularly those in the confectionery enterprises, consider advertising as an inevitable tool for survival in highly competitive market. This implies that companies would have to rely heavily on advertising to create a brand and distinguish it from other product in the mind of the consumers as this will enhance their performance, though the cost of running the advert is a big challenge to such adoption.

 

1.3           OBJECTIVES OF THE STUDY

The major objective of this study was to examine the effect advertising media and on the marketing performance of confectionery enterprises in Abia state, Nigeria. The specific objectives are to:

i.        examine the joint effect of advertising media (television, radio, newspaper, poster, flyers and magazine) on the market share of the confectionery enterprises in Abia state;

ii.       determine the joint effect of advertising media (television, radio, newspaper, poster, flyers and magazine) on the sales volume of the enterprises;

iii.     analyze the joint effect of advertising media (television, radio, newspaper, poster, flyers and magazine) on the profitability of the enterprises;

iv.     ascertain the factors influencing the choice of any of the advertising media adopted by the firm.


1.4           RESEARCH QUESTIONS

The researcher deemed it fit to develop the following research questions for this study.

i.      To what extent does advertising media (television, radio, newspaper, poster, flyers and magazine) affect the market share of confectionery enterprises?

ii.     To what extent can advertising media (television, radio, newspaper, poster, flyers and magazine) influence the sales volume of the confectionery enterprises?

iii.   What is the influence of advertising media (television, radio, newspaper, poster, flyers and magazine) on the profitability of the enterprises?

iv.   What factors influencing the choice of any of the advertising media adopted by the firm?


1.5           RESEARCH HYPOTHESES

This study was guided by the following research hypotheses:

HO1:    Advertising media (television, radio, newspaper, poster, flyers and magazine) do not have any significant influence on confectionery firms’ market share in Abia state.

HO2:    There is no significant influence of advertising media (television, radio, newspaper, poster, flyers and magazine) on the firms’ sales volume.

HO3:    There is no significant influence of advertising media (television, radio, newspaper, poster, flyers and magazine) on the firms’ profitability.

HO4:    Affordability, flexibility, speed of delivery, accuracy of delivery, targeted audience, stage in product life cycle, size of advertising budget, and business experience does not significantly influence the choice of any of the advertising media adopted by the firms in Abia State.

 

1.6           SIGNIFICANCE OF THE STUDY

This study has yielded number of desirable benefits, the most essential of which is its contribution to existing knowledge. The findings of this study have provided direction to the effect of advertising in stimulating the marketing performance of confectionery enterprises in Abia State. Similarly, the study also has helped to expand the frontiers of knowledge in the area of conducting its analysis through the use of techniques that have been hitherto overlooked by previous researchers on the effect of advertising media on firms’ market share, sales volume and profitability. The study was able to establish the factors that influence the choice of advertising media in confectionery enterprises in Abia State through the use of the multinomial logistic regression approach. The study also outlined the advertising media that should be adopted by confectionery enterprises in Abia State using the marginal effect analysis.

 This study has also complimented the work of other researchers on the influence of   advertising on the marketing performance of firms especially confectionery enterprises as well as provided a lead way to on-coming researchers on the effect of advertising on firms’ marketing performance. The study equally provided meaningful and detailed information to confectionery operators, educating them on the most and less appropriate advertising media to adopt based of the factors of affordability, flexibility, speed of delivery, accuracy of delivery, targeted audience, age, perception, level of education, size of advertising budget, and experience; as understanding of this would help them to maximize their profit, increase their market share and sales volume, even in a highly competitive environment.


1.7           SCOPE OF THE STUDY

This research is concerned with examining the effect of advertising in stimulating the marketing performance of confectionery enterprises in Abia State, Nigeria. Due to the size and spread of these enterprises, the scope of this study was limited to sampling confectionery enterprises located in Abia State.

Content scope: This study was domiciled in advertising with specific interest in studying its effect in stimulating the marketing performance of confectionery enterprises in the state. Though there are so many parameters to measure the marketing performance of an enterprise, but for this study, the researcher employed the following parameters; sales volume, market share and profitability as requisite to achieve the objectives of the study. The study also analyzed the factors that determine the choice of advertising media adopted by the firms.

Geographical Scope: The study was conducted in Abia State which comprised of Aba, Umuahia, and Ohafia zones of the confectionery enterprise in the state. But from the data generated from the unions it stated that the Ohafia zone had few confectioneries which by recommendation the researcher had to merge them with Umuahia zone for proper assessment. It was on this note that the research was centered on the two zones which were Aba and Umuahia zones respectively.

Unit of analysis: The unit analysis for this study includes the confectionery enterprise with specific reference to the managers and supervisors which were selected as core respondents for the study due to the managerial skills and experiences gained in the running of the enterprise as this will enable them respond effectively to the questions in the questionnaire.

 

1.8       LIMITATIONS TO THE STUDY

The study was carried out in Abia State, Nigeria due to the nature of confectionery business the sample was quite very small, other limitations faced by the researcher in the course of carrying out the work include poor respondents’ attitudes to the filling of the questionnaire, inadequate finance to conveniently carry out the study and time constraint. But the researcher was able to overcome these limitations through commitment and careful handling of statistical tools. Therefore, the limitation did not discourage the researcher; neither did it adversely affect the outcome of the study.

 

1.9       OPERATIONAL DEFINITION OF TERMS

The following terms were in used in view of their technical meanings for better understanding of the concepts of the study.

Confectionery: This is the act of making confections, they include food items that are rich in sugar and carbohydrates which are subdivided into bakers’ confections and sugar confections.

Enterprise:  These are business activities developed and managed by individuals rather than the state, which could be either large, medium or small scale with the sole aim of making profit

Marketing performance: This is an efficient and good performing marketing system, capable of moving goods from producers to consumers at the lowest costs consistent with the provision of services that consumers demand for.

Market Share: This is the company’s sales expressed as a percentage of the total market sales.

Sales Volume: This is the percentage of a company’s total product line sales, it includes the quantity or number of goods sold in the normal operation of a company in a given period.

Profitability: The ability of a business entity to make profits or returns from its investment.

 


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