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ADVERTISING AS A TOOL FOR INCREASING PROFITABILITY OF MANUFACTURING INDUSTRIES

ADVERTISING AS A TOOL FOR INCREASING PROFITABILITY OF MANUFACTURING INDUSTRIES

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CHAPTER ONE

1.0       INTRODUCTION

1.1       BACKGROUND TO STUDY

Advertising is one of the strategic devices for gaining acceptance for and monitoring a company’s performance in a competitive environment.

Advertising could however be according to mood, politics, and outlook and particularly according to one’s reaction t the last advertisement on has seen. To some, advertising could then be a good thing, or a bad thing. To some it could be useful, wasteful, boring, entertaining helpful, deceptive, silly, amusing, an instruction or a necessity. It all depends on which angle or perspective the same is viewed.

On the other hand identifies the sponsor of the message, the source of the idea it presents and thus makes two way communications possible.

Abade Akinteye and Wole Awolowo (2004) defined “Advertising as a method of delivering a sponsors message through an impersonal medium, approval, influencing attitudes and increasing sales.

Advertising as a persuasive move is primarily designed to convince the target audience of a certain product to change their attitude s towards a product to create a permanent awareness in the memory of an average consumer. Thus, without advertising, products and distributors would be unable to sell. Buyers would not know about and continue to remember products or services, and the commercial world would collapse if factory output is to be maintained profitably, advertising must be powerful and continuous.

According to Bel-Molokwu (2000) stated the word advertising is derived from the word “Advertere” to draw attention, he further planned that advertising is perhaps better from viewing it’s application what it do rather than what it is and how does it.

The institute of practitioners in advertising as quote by Defkins (1974) that “Advertising presents the most persuasive possible sending message to the right prospects for the product or services at the lowest possible cost. Advertising involves communication, economic, psychology, business, politics, law, in short, run humanities, creative arts and business discipline it is not surprising, therefore that different perspectives shape the way advertising is viewed.

Doghudje (1985), looking at it from the marketing point of view says “Advertising is a marketing tool whose sole aim is to build preferences for advertised brands and services”. Advertising is not one activity but many it begins with the very first step of research to determine the problems and prospects of a given product or service, moves on to design actual writing and placement of the advertising message in the media to the last step of measuring the effectiveness of such a message.

In ultimate terms, Advertising campaign is executed to increase the profitability on sales of manufacturing and service providing companies worldwide. With the aid of a fore mentioned definition advertising is considered to be an avenue to which an organization can make it products or services known to the masses, to generate more revenue after increase in the patronage by the consumers and creating a sustainable image for the organization among its contemporaries competitive categories.

In the real sense, it is the method used by companies for creating awareness of their product as well as making new products known to new and potential consumers. This thesis however, centers on advertising as a tool for increasing profitability of manufacturing industries.


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