An examination of the effect of promotional tools on organizational performance

Thesis Overview

<p> </p><p><b>INTRODUCTION <br>1.1 &nbsp; &nbsp; BACKGROUND OF THE STUDY</b></p><p>&nbsp;Promotion<br>is the systematic design and communication of product(s) ideas, knowledge and<br>attributes to identified market segment with a view to eliciting customer<br>response through the use of appropriate communication medium and technology.</p><p>Promotion<br>is the elixir to organization success. When organizational leaders are able to<br>create or develop a product for an identified market, what remains is to<br>properly promote both the organizational products and image to the favourable<br>attention of its publics, customers, shareholders creditors etc.<br>The essence and importance of promotion on marketing communications in the<br>marketing task is too crucial that it often dictate the success or failure of<br>products/service engaging in promotional activities. Marketing communications<br>involves setting objectives and goals to bring about awareness creation,<br>information dissemination and persuasion of market segment to respond and buy<br>products. Managerially promotion activities involved using the system approach<br>to plan organize, coordinates advertising programmes and other promotional<br>efforts.</p><p>&nbsp;Promotion<br>management has become so systematic in the 21st century to the extent that the<br>marketing effort has been broken down into sub-systems, thus we now have advert<br>managers, public relations (PR) experts, publicity experts, copy writers,<br>digital graphic illustration and even outdoor digital mega screen<br>technicians <br>Promotion not only serves to inform but also serves to delight the customer<br>through mind blowing, promo-campaigns and satisfaction creation. Promotion is<br>important to people, organizations and society because it helps oil the wheel<br>of economic growth and development. Promotion of goods and services helps to<br>bridge the gap between the manufacturer of products and consumers of such<br>products and services. Promotion helps to communicate the product knowledge and<br>product availability to seekers of goods and services. Promotion creates<br>efficiency channel effectiveness as middle-men strive to achieve better<br>distribution systems, creation of assortments and delivery of superior services<br>down the chain. Promotional activities has helped the organizations to become<br>more competitive, by developing better products and superior service delivery<br>techniques in their struggle to increased/retain their market shares. </p><p><b>1.2. STATEMENT OF PROBLEM</b></p><p>The<br>basic problem for research is to justify the effectiveness or impact of<br>advertising to adopt make sales especially during the introductory stage and<br>why is it that during introductory stage of the product life cycle a new<br>product dies not reaching the growth or maturity stage. What method(s) of<br>advertising are to and whether those methods are actually effective enough to<br>achieve the desired goals.</p><p>Over<br>the years, many organizations in Nigeria seem to believe that once goods or<br>services are produced; there is ready market for such goods and services. As they do not seem to recognize or<br>appreciate the place or role of advertising towards achievement of their<br>organizational profit or sales objectives. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; </p><p><b>1.3. OBJECTIVES OF THE STUDY</b></p><p>In<br>the kind of adventure, there must be a study to ascertain its success. If that<br>is a general and acceptance principle the researcher also has some reasons in<br>going into the study under consideration. In view of fact, this study is<br>carried to achieve the following objectives.</p><p>1. To<br>examine the effect of promotional tools on organizational performance </p><p>2. To<br>access the degree of the effect of promotion on organizational growth and<br>profitability</p><p>3. To<br>recommend ways of improving organizational performance through promotion.</p><p><b>1.4. SIGNIFICANT OF THE STUDY</b></p><p>This<br>project will be of importance to the (NASCO)company limited in adopting a more<br>effective way of advertising to take care of uncertainly in the future which is<br>likely to occur in the industry especially in marketing new product entrance.<br>The finding of the study will also be of immense benefit to other companies who<br>may wish to carry out further research work on how advertising can be used when<br>a new product is introduce into the market. The finding will be useful to the<br>marketing department of Kaduna polytechnic who may be interested in researching<br>further into advertising new product or services in Nigeria and final year<br>student in particular who will graduate and go into business word to face<br>problem in the advertising system of the organizations, the student may find<br>themselves.</p><p><b>1.5. SCOPE OF STUDY</b></p><p>The<br>study is restricted to the examination of the effect of promotional tools on<br>organizational performance using Nasco companies as the case study</p><p><b>LIMITATION OF THE STUDY</b></p><p>The<br>scope of the research is limited by factors inherent in our environment such as<br>finance, time and attitude of respondents. The limitation encountered in the<br>course of the investigation are listed below.</p><p>It<br>is evidently clear that things are very difficult in Nigeria these days. This<br>problem becomes more apparent due to the high cost of transportation, a<br>considerable increase in price of writing, typing and binding material at the<br>time of writing this project due to the devaluation of Naira.</p><p>The<br>researcher had struggle in between lecture period and data collection. As a<br>result of this, some places which were to be visited were abandoned.</p><p>The<br>attitude of some consumers or customers who could not ,fill the questionnaire<br>correctly and even some did not return the questionnaire at all. Also attitude<br>of the administrative marketing manager of NASCO towards answering questions.<br>There was the suspicion that information revealed could be used to the<br>detriment of the company, or could be revealed to competitors despite the<br>assurance from the researcher that all information provided will be treated<br>with utmost secrecy. </p><p><b>1.6 &nbsp; STATEMENT<br>OF HYPOTHESIS</b></p><p>For<br>the purpose of this study the following hypothesis have been formulated</p><p>H0:<br>Promotional tools do not have an effect on organizational performance.</p><p>H1:<br>Promotional tools have an effect on organizational performance.</p><p><b>1.7 &nbsp; DEFINITION<br>OF TERMS</b></p><p>Marketing:<br>is the management process responsible for identifying, anticipating and<br>satisfying customers’ requirement profitable.</p><p>Product.<br>Product is anything that can be offered to market for attention, acquisition or<br>consumption, it includes physical objects, services, personalities, places,<br>organization and ideas.</p><p>Promotional<br>tool: is are the various methods of proportion that a company can adopt; Such<br>as advertising, personal selling, sales promotion, public relations and<br>publicity.</p><p>Advertising<br>this is a form of paid public announcement intended to promote the sale of<br>commodity or services or to bring about some other effects desired by adviser.<br>It is essentially a form of communication through such diverse media as<br>handbills, newspapers, letters and radio television broadcast.</p><p>Market<br>share is a firm percentage of the industry’s total sales.</p><p>Invocation<br>a new approach or concept in the, production cycle frequency involving the use<br>of invention practiced task.</p><p>Personal<br>selling: The process of making oral commercial representation during buying or<br>selling interview or services.</p><p>&nbsp;Marketing strategy: This is the marketing<br>logic by which the business units expect to achieve the marketing objectives.</p><p>Sales promotion: It has<br>been destined as a short term incentive to encourage purchase or sales of<br>product or services.</p> <br><p></p>