SALES PROMOTION AS A PROMOTIONAL TOOL FOR PRODUCT PERFORMANCE AT INTRODUCTARY STAGE
|BANKING AND FINANCE|
No of pages
|MS Word & PDF|
The custom academic work that we provide is a powerful tool that will facilitate and boost your coursework, grades and examination results. Professionalism is at the core of our dealings with clients
For more project materials and info!
Call us here
The Project sales promotion as a promotional tool for product performance at introductory stage in a communication market” sales promotion occupies a very position in creating awareness and stimulate buying and it serves as a way of increasing demand for new product/ services and establishing the strength of the existing product and service in the market.
The problem of this research work lies in the fact that some companies of different level have different way of making their product well know to their customer.
The objective of this study is to improve trade relation, encouraging usage and purchase of large size unit by users and obtaining immediate sales response.
Research makes use of primary and secondary method of collecting data while questionnaire was administered to the staff of Etisalat Communication Ilorin, and therefore, finding revealed that sales promotion plays important role for ancestor by informed the potential investors that are very much interested in obtaining information about an organization.
Sales promotion activities and its concept is the major solution for any problem that may arise in communicating system due to its impact and role in the course of satisfying the consumer through effective and adequate services in communication
1.1 INTRODUCTION OF THE STUDY
Sales promotion is a very important promotional mix in marketing because it plays a very important role for the survival of a new and existing product; it helps to develop the economic of the country. Sales promotion also offer short – term incentives to the customer to induce purchase for a particular product, it is therefore said that, while advertising offer a product with a reason to buy, sales promotion offer the product with an inventive to buy.
In other word, sale promotion also serve as a strategy of achieving cooperate objective in Nigeria, It also play major role through this it build product awareness, sales promotion techniques are highly effective in exposing customers to product for the first time and can serve as key promotion component in the early stage of new product awareness, several sales promotion techniques posses the added advantage capturing customer information at the time of exposure to the promotion.
Interest can also be create through sales promotion because marketer find that sales promotion are very effective in creating interest in product, infect creating interest in often considered the most important use of sales promotion is also to build demand by confusing customer to make a purchase special promotion especially those that lower the cost of ownership to the customer (example price production) can be employed to stimulates sales for the cooperate objective to be achieved in an organization some of the sales promotion techniques are game, context, premium, product demonstration, point of purchase (P.O.P).
The negative effect of sales promotion is it will yield fast and measurable responses in sales but it will not yield new loyal nor term buyer in nature markets.
1.2 STATEMENT OF THE PROBLEM
This researcher study will generate answer to most of the question that constitute the problem of this research they are:
1. Does sales promotion as a marketing strategy can be use to achieve the cooperate objective.
2. To what extent did sales promotion satisfy an organization in term of achieving cooperate objectives.
3. Does sales promotion as a marketing strategy has any effect on achievement of marketing objective.
4. Is there any correlation between sales and sales promotion.
1.3 AIMS AND OBJECTIVE OF THE STUDY
General aim is to find solution to poor performance of a product in market.
1. To find mean for increase sales
2. To find how revenues can be improved
3. To find how increase market share
General objective is to find how organization will survive, specific objective are:
1. To improve sales value
2. To improve standard of living of the society
3. To grantee survival for the company
4. To keep on encouraging people to buy during off season.
5. To encourage present customer to interest their purchase capability.
1.4 SIGNIFICANCE OF THE STUDY
Since all organization and business have come to realize the important of sales promotion for achieving the organization objectives, this study is of immense value or benefit to the following:
2. To market
4. To government
1. Academic: This study has a vital impact to play academically as it will effective contribute to both knowledge of the researcher and academy in general.
It will contribute to marketing literature which will serve as reference point.
2. To target market: It is of significant to buy or the target as it create awareness, educate and appealing to the consumer on a particular product dissonance.
3. Industry: This study is of significant to the manufacture as it enable them to chose an appropriate and understand effectiveness of sales promotion for the sales of the product and benefit derived from the product both local and international market, that will improve the profitability of the expansion.
4. To government: It will improve revenue base for the government collection to taxes.
5. Researcher: It is significant to the researcher because it widens the knowledge of the writer and serves as intellectual exercise likewise and serves as intellectual raise likewise it is require partial fulfillment of the requirement for the aware of higher National Diploma (HND) in marketing.