The impact of advertising on small scale business in Nigeria(A case study of Omolayo Printing Press Ile ife nigeria)

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Price: 2000 Naira (BSC, MSC)

ABSTRACT

This project work was conducted for Omolayo Printing Press Ile ife Nigeria in order to find out the impact of advertising on the growth of small scale business. The project work consist of four research questions, which were stated to determine the impact of advertising on the growth of small scale business. Forty two questionnaires were distributed and forty two were returned. The questionnaire was the research instrument the researcher’s uses descriptive method.  The findings show that advertising play a significant impact on the growth of small scale business and that advertising has favourable effect on the business of standard insurance company. The placation of the findings of the growth of small scale business were examined

The findings induces:

  1. the standard insurance company has reduced the intensity of its advertising campaign
  2. the company, which used to be  major sponsor of programme on radial has related to another customer that makes its patronage once in a while
  3. The company advertise through electronic media merely.
  4. The company has open a new branch in Osun State without being advertise.
  5. The reason for not advertising the new branch in delta state as due to low funds.

Also the manager believes that the advertising that has been in the past still has a carryover on the public.

CHAPTER ONE

INTRODUCTION

1.1. Background of the study

In a society like ours and in the world in general where products and services are identical and numerous, it has become of immense need for marketers or producers to look out for an avenue of making their products known to the entire markets share.  The number of producing of substitute and identifiable goods and services are so enormous that the consumer in general is placed in a confused state as regards the product to select from a wide range.

The market is therefore filled with marketers and producers wanting to sell their products it ensure that ownership transfers are affected efficiently and profitably, producers have to adapt to the functions of advertising which include:

  • Marketing the process of selling cheaper
  • Putting the creative executive in the profession to task.
  • Generating employment opportunities
  • Creating of awareness among consumer about the availability of product or service or about a particular idea that is supposed to be embraced, thus contributing to standard of living and output level.
  • Creating the freedom of choice from goods and service available.

To achieve effectiveness in these functions, above attention must be paid to follow issues with every seriousness of that the investment in advertising would not be wasted.

Advertising is the means by which we make known what we have to well or what we want to buy.

Jefkins (1985) stated that advertising keep the potential users and consumers aware of a product that exist.

Etal (1978) stated that advertising enables the firm to communicate with prospective customers to inform them of its products or services and to persuade them to buy and use the product.

Supporting the fact, a good advertising requires a fall for the merchandise being featured, and this comes only from Fami Larity with the products and the people who sell them.

Advertising is essential on the growth of business success since it encourages competition among business firm, which enhance the production of high quality goods and services.

Small and medium scale enterprises (SMEs) globally are seen to have contributed meaningfully and immensely to the social and economic development of their nations. As a result of this, governments globally have focused on the development of the SMEs sector to promote economic growth (Subhan, Mehmoo,&Sattar, 2013; Ramasobana, 2017). Oyebamiji, Kareem, and Ayeni (2013) posits that SMEs constitute the most viable and veritable vehicle for self-sustaining industrial development. SMEs in countries like Nigeria are struggling to succeed as result of the intense, complex, turbulent, and ever changing competitive environment in which they operate both locally and internationally. SMEs face countless problems ranging from lack/inadequate capital, epileptic power supply, inefficient management, difficulty in employing skilled manpower, fraud, inability to analyze market opportunities, improper planning, research and production inefficiencies, economic instability, problems of standardization, poor quality products, inadequate owner/manager knowledge, advertising, and complexity of marketing issues, and much morewhich has enormous effect on their performance (Akinruwu, Awolusi, &Ibojo (2013); Ebutu, Ufot,&Olom, 2015;Egbuna&Agali,2013;Mohammed &Nzelibe, 2013; Okpara, 2011; Olugbenga, 2012; Shehu, Aminu, Mat, Nasiru,Johnson,&Tsagem, 2013; Shehu& Mahmood, 2014). They in conjunction with Stull, Myers, and Scott (2008) and Mustapha (2017) further identified the basic marketing problems as inability of the SMEs in Nigeria to apply modern marketing techniques and strategies, difficulty in managing the venture’s advertising and other promotional tools, competition from large firms, lack/inadequate financing of marketing activities, poor sales promotion among others.

Marketing is the key purpose of every business (Ebutuet al., 2015). Drucker (1985) posits that marketing and innovation are the two central functions of a business to enable them create and keep customers. It is evident that the basic function of marketing is to attract and retain customers at a profit. Marketing communication is a veritable tool that enables products and services to be made known to customer. The two marketing communication tools addressed in this study are sales promotion and advertising as may have beenobserved to be addressed as identified problems of poor advertising, inadequate/lack of financing for advertising and poor sales promotion, which has subsequently affected the performance of small scale business in Osun State.

1.2. Statement of the Problem

It is doubtful whether advertising keep the potential users and consumers aware of a product that exist.

It is also uncertain whether advertising enables the firm to communicate with prospective customers to inform them of its products or services and to persuade them to buy and use the products.

It is unclear whether the print media use on the growth of small-scale business has any favourable effect on the firm.

It may be true that advertising is essential on the growth of small scale business since it encourages competition among business firm, which enhance the production of high quality goods and services.

1.3. Objective of the Study

The objective of the study include:

  1. To know if advertising plays a significant impact on the growth of small scale business.
  2. To determine if the print media is more useful than electronic media on the growth of small scale business
  3. To examine if the cost of advertising has a favourable effect on the business of Omolayo Printing Press Ile Ife Nigeria.
  4. To identify whether advertising has a favourable effect on the business of Omolayo Printing Press Ile Ife Nigeria.

1.4. Research Questions

1.  Does advertising play a productive impact on the growth of small scale business?

2. Is the print media more useful than electronic media on the growth of small scale business?

3.  Does the cost of advertising merits its use on the growth of small scale business?

4. Does advertising has favorable effect on the business of standard insurance company?

1.5. Statement of Hypothesis

Ho: Advertising does not play a significant impact on the  growth of small scale business.

Hi:  Advertising plays a significant impact on the growth of small scale business.

Ho: Print media is not useful than the electronic media for the growth of small scale business.

Hi: Print media is more useful than the electronic media on the growth of small scale business.

1.6. Significance of the Study

Advertising in its effectiveness represents an important part of the entire promotional scheme that can be strategically employed by the firm for competitive advantage.  Therefore, to achieve this purpose, direction are crucial and paramount if resource men, money and material are not wasted,   as long as the company consider it necessary to advertise its goods there is every need to sale higher efficiency with the weapons invariably this is what this a text tries to portray and offer in terms of recommendation and its application to the company in relation to these tools, advertising management and its effectiveness on the growth of small scale business.

1.7. Scope of the Study

Advertising is a very wide topic on its own but this study is restricted to the understanding of the impact of advertising on the growth of small scale business with special reference to Omolayo Printing Press Ile Ife Nigeria.

The study is also restricted to the staff of the printing company starting from the senior management staff to the junior clerical staff.

Finally, the research was expose to number of related books, journals, and newspapers publication for review purpose.

1.8. Limitation of the Study

This study is limited to an extent, due to time and financial constraints, some other factors including the distance between the case company and the research station.

Coming to financial constraints the researcher was not able to reach out for all the requirement like journals, newspapers publications etc for review purposes, as a result of this, the researcher used the cause study of Omolayo Printing Press Ile Ife Nigeria.

To solve these problems the researcher have to use both the primary and secondary data on-line work.

1.9. Definition of Terms

The term advertising mean:  this is the arrow head of marketing communication advertising does not open to take a close substitute due to its vital rate in contemporary marketing and its peculiar function in the business objectives.

Another term in this topic is the small scale business, the definition made by some economist, the Untied nation industrial development organization (Unido) defined it due to its feature the areas of promotion is localized and workers community of course, come to make branches in different towns infer at depots the reason of not getting any consensus on what constitutes a small scale business is that different countries are with different economics conditions.  The definition adopted by a country is according to its economic circumstances.

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