ADVERTISING AN EFFECTIVE PROMOTIONAL TOOL FOR MARKETING NEW PRODUCT: A Case Study of NASCO Marketing Company
Promotional mix variables differ in effectiveness in generating consumer interest and influencing purchase decision. In this study, an attempt is made to evaluate the effectiveness of advertising, one of the promotional mix element used by NASCO group of companies, Jos.
Current, NASCO household products are market leaders in most part of the country . this study reveals the extent to which advertising is considered a central in delivering the company’s corporate objectives. The population for this study consist of (1,000) out of which a sample size of one hundred and Ten (110) is chosen for this study.
In addition the following hypothesis have been tested and proven in this project:Ho: Advertising is insignificant in the new product development and marketing process especially in NASCO group of companies Jos. H1 Advertising is significant in the new product development and marketing process especially in NASCO group of companies Jos.
Based on the test carried out using the chi-square techniques the calculated x2 hypothesis has a higher rating of 15.3, than the tabulated value and thus H1 is accepted. The study further found that despite the important role of advertising in influencing customer purchase decision on NASCO products, the over reliance on TV commercial advertising is not ultimate as other advertising media are also important in a competitive marketing environment like Nigeria.
It is thus, recommended that urgent steps must be taken to asses media preferences of consumers with a view to adopting other effective media strategy for the company.