EFFECTIVENESS OF FINANCIAL CONTROL IN THE PUBLIC SECTOR

ABSTRACT

 

The study examined advertising as a tool for increasing sales in an organization (A case study of John Holt Ventures Ltd).  The research was earned out to ascertain the extent of advertising as a tool for increasing sales.

 

In order to solve the research problem, four hypothesis were formulated.

 

The population studied in this research comprised of customer, distributes and relevant management staff of John Holt Ltd and their were 369 using Topman’s formular, 196 using Bourley’s formular and 34 using census exercise respectively.

 

In the bid to solve the research problem, data were gathered using oral interviews, questionnaires and relevant books were reviewed.

 

Data collected were analyzed using percentages and tables, the four hypothesis were tested using chi – square (X²) method of testing hypothesis.

 

From the data analyzed the following were ascertained.

• That advertising message of John Holt influence consumers to continuously patronize the company’s product.
• The quality of John Holts Ltd’s advertisement that influences consumers most to purchase the organizations offering were the ability to gain attention
• Advertising messages used by the company increases the sales volume of the organization
• Both the print and electronic media of advertising used by the company were efficient and effective.

 

Based on the findings a number of recommendations were made among which were; to improve the advertising content and timing, so that interest will be generated in the consumes, to carryout more advertisement in newspaper since a greater percentage of consumers can afford, or have access to it everyday.

 

Following the discoveries, it was concluded that advertising increase sales in the organization, therefore it is strongly believed that if John Holt Ltd should carryout the implementation procedures properly, it will help in ensuring sustainable growth and survival of the organization.

CHAPTER ONE

INTRODUCTION

• Background of this study
• Statement of problem
• Objectives of study
• Research hypotheses
• Significance of the study
• Scope of the study
• Definition of terms.

 

CHAPTER TWO

LITERATURE REVIEW

• Meaning of advertising
• Types of advertising
• Reasons for advertising / Advertising objectives
• Advertising as a communication process
• Advertising media selection and scheduling
• Measuring advertising effectiveness in John Holt Ltd.
• Advertising and its affection consumer behaviour
• Advertising efficiency in marketing operations of John Holt Ltd.

 

CHAPTER THREE

RESEARCH METHODOLOGY

• Research design
• Sources of data
• Population of study
• Sample size determination
• Sampling techniques
• Research instruments used
• Validation and reliability of research instruments used.
• Method of data treatment and analysis.
• Limitations of the study

 

CHAPTER FOUR

PRESENTATION ANALYSIS AND INTERPRETATION OF DAPT

• Data presentation and analysis
• Test of hypotheses

 

CHAPTER FIVE

SUMMARY OF FINDINGS, RECOMMENDATIONS AND CONCLUSION

• Summary of findings
• Recommendations
• Conclusion
• Suggestion for further study

 

CHAPTER ONE

1.1     BACKGROUND OF THE STUDY

Every organization has the need to increase sales volume in order to yield maximum profit to the organization; at the same time to create awareness of the products of the organization and finally convince customers to make purchases commitment to the organizations brand of products.

 

Advertising basically as an integral part of the marketing program, has long been recognized as a means of spreading information to the various sectors of the economy for accomplishing various marketing goals.

 

It is a means by which an organization makes known to the public what it wants to sell or buy.  Advertising messages also enlighten the consumes on the usefulness of a product, services or idea and consequently create in the consumer a desire to procure such product or act favorably towards such services or idea.

 

By itself, advertising is a vital marketing tool that helps to sell goods services, images and ideas through information and persuasion (Ebue, 1995:53) he also maintained that many firms allocate the largest share of the promotional budget to advertising as an indication of its vital role in the sale of products.  Basically, the aim of advertising is to stimulate the need awareness of a product, convince the customer and finally lead them to act, (making purchase) which consequently, increases the sales volume in an organization.  Therefore, advertising is a very powerful marketing communication tool for increasing sales in an organization thus, it becomes imperative that every profit or non profit oriented  organization needs to advertise in order to achieve the main bottom live of being in business.

 

This study is an effort to determine the extent in which advertising has contributed to the awareness, persuasiveness of the firms products or brands and in tarn increase sales in John Holt Ventures Ltd Okpara avenue Enugu.

 

John Holt Ventures as a business outfit at about 1827 in liver pool and later developed into a group of companies.  John Holt was incorporated in Nigeria in 1910 as a buying out fit, manufacturers and distributors, sales and services of machninees, industrial equipments and other items like motor cycles, generators, speed engine boats etc.

 

John Holt Ventures Ltd has branches all over the nation and used advertising in getting them products across to their numerous customers.

 

1.2     STATEMENT OF PROBLEM

John Holt Ventures Ltd is the leader in the distribution, sales and serving of machineries and industrial equipment in Nigeria and has remained successful in business since its inception.

 

1.3     OBJECTIVES OF THE STUDY

The primary aims of the study are as follows

1. To ascertain whether advertising by John Holt creates awareness of its products and persuade consumers to buy the products
2. To find out of John Holt’s advertising messages / programs provide information needed by the consumers to make purchase decision.

• To know whether John Holt ventures advertising message / programs influence consumers attitudes towards brand patronage of the organization offerings.

1. To ascertain whether, advertising actually increases the sales volume in John Holt Ventures
2. To ascertain the most efficient and effective media of advertising for the organization
3. To make recommendation as to how to improve other media of John Holt Ventures.

 

1.4     RESEARCH HYPOTHESES

HYPOTHESES I

Ho:    John Holt Ltd advertising message does not create awareness of its products.

 

Hi:     John Holt Ltd advertising message creates awareness of its products.

 

HYPOTHESES II

Ho₂:   The use of advertising message does not increase sales volume of John Holt Ltd.

 

Hi₂:    The use of advertising message increase sales volume of John Holt Ltd.

 

HYPOTHESIS III

Ho₃:   John Holt Ltd’s advertising messages does not influence consumer to continuously patronize its products.

 

Hi₃:    John Holt Ltd’s advertising messages influence consumer to continuously patronize its products.

 

HYPOTHESES IV

Ho₄:   Advertising does not lead to frequent purchase of the organization’s offerings.

 

Hi₄:    Advertising lead to frequent purchase of the organization’s offerings.

 

1.5     SIGNIFICANCE OF THE STUDY

Business is undertaken to satisfy customer and maximize profit and this will be invariably actualized when the sales volume increases in an organization, which can be achieved through the use of advertising.

 

This stud will be of immense benefit to John Hold Ventures Ltd in restructuring its advertising messages in a way that will be able to create awareness and influence consumers to make quick purchase decision on the organization’s offerings.  It will further help John Holt Ventures Ltd to ascertain and appropriately allocate advertising budge to the media which advertising impacts mostly contribute to the increase in sales and continue using other media so as to maintain the increase in sales.

 

1.6     SCOPE OF THE STUDY

This study is a case study in the area of advertising as a tool for increasing sales in an organization (John Holt Ventures, Okpara Avenue Enugu) the researcher carried out the study in Enugu metropolis.

 

1.7     DEFINITIONS OF TERMS

ADVERTISING:  Is defined as any paid form of non – personal presentation and promotion of ideas, goods or services by an identified sponsor, “Involves the use of mass media”.  Ebue (2000:5)

 

ADVERTISING:  Is defined as consisting of all the activities involved in presenting to a group a non – personal, oral or visual, openly sponsored message regarding a product services, or idea (Stanton 1981:414)

 

ADVERTISING OBJECTIVE: It is a specific communication task to be accomplished with a specific target audience during a specific period of time. (Kotler and Armstrong 2001: 544).

 

ADVERTISING MEDIA:  This refers to all communication vehicles responsible for the delivery of promotional message to them target audience (Okafor 1995:211)

 

BRAND LOYALTY: It is the consumer’s conscious or unconscious decision expressed through intention or behaviour to repurchase a brand continually (Bovee and Arens 1992: 140).

 

CONSUMER BEHAVIOUR: It is “the behaviour that consumers display in searching for, purchasing, using evaluating and disposing of product, service and ideas which they expect will satisfy them needs” (Schults 1990:77)

 

MARKETING COMMUNICATION: Is defined as the efforts by a company to design and disseminate information about its products existence, features and terms and the benefit to the target market using different medium” (Adirika Ebue and Nnolim 1997:87)

 

Media selection: It is the determination of the best medium or vehicles to deliver an advertising message to the prospective customers (Ebue 2000:100)

 

TARGET AUDIENCE: This is where any advertising is usually aimed at a particular segment of the population (Bavee and Areas 1992:6).

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