PROJECT TOPIC- SIGNIFICANCE OF ADVERTISING IN THE MANAGEMENT OF BUSINESS ORGANIZATION
This study aims at analyzing the significance of advertising in the management of business organization using selected small business organization. The main objective of this work is to identify and highlight the prospects of advertising in small scales business to know whether advertising increase the sales of a product ad how and also to identify the problems of advertising in small scale business and suggest possible ways buy which they could be resolved. The research survey method was used to gather information and hypotheses were tested using chi-square statistical tool. The study however concluded that small business is seen to be so because it has no means of expansion but by creating awareness, the business stands an opportunity to grow and becomes larger in size. Therefore, advertising is important to small business management. It was recommended amongst others that the management of small business should adopt the use of advertising at the early stage of the product life cycle or at the introductory stages of the business and that the product should be good and presented to consumers in such a way that it can speak for itself so that a few terms will be used in the advertisement to catch the people attention and to reduce advertising cost.
1.1 BACKGROUND TO THE STUDY
In the management of small business organization advertising appears to be one of the major tools that management uses to actualize its goals and objectives the word advertising seems to be very popular to all profession due to the vital role that it play in the achievement of organizational objective consumer and buyers in most cases aspire to know about a product through advertisement, even much as he advertiser would deem it necessary to punch a product information into the market for awareness.
This is as a result of the fact that each participant in the exchange process is in most cases confronted will the problem of searching the buyer goes out in search of a seller a buyer it is therefore important for the owner of business to make a careful study of how to get the product information across to the ultimate consumers of such product. the provision of such information is done in a number of ways adverting includes. A small business is small in most cases when the awareness is low. An increase in the levels of awareness does in most cases result to corresponding increase in the sales of the product increase in sales can lead to bigger enterprise which is the target if the small business manager. The important role of advertising in the respect cannot be over emphasized. This project will therefore examine the significance of advertising in the management of small business organization
1.2 STATEMENT OF PROBLEM
Advertising is essentially one the common promotional tools that most organization uses of actualize their objective and goals advertising mainly uses to create awareness, stimulates consumers inertest on a product general high patronages and increase sales volume in an organization.
In spite of the great benefits of advertising most small business shows little or no concern about advertising their products. More so the inability to advertise has crippled as lot of small business organization over the years.
These studies on the significance of advertising in the management of small business organization shall be restricted to answering the following
1.3 RESEARCH QUESTION
- Does advertising play any important role in the management as small business organization
- To what extent does advertising asset in the expansion of a small business?
- Are small business owners willing to advertising what are their strength and weakness
- What would be the fate of a small business organization if not advertised?
The above question will uses as a guiding rule the will help the researcher to design tools to extract necessary information to proffer a solution to the reach question
1.4 OBJECTIVE OF STUDY
- to identify and highlight the prospects of advertising in small scales business
- to know whether advertising increase the sales of a product ad how
- to identify the problems of advertising in small scale business and suggest possible ways buy which they could be resolved
- to know if high cost of advertising does not prefer small scale bossiness from advertising
- to know how advertising facilities their achievement of goals and objective in small scale business of goals and objective in small scale business
PROJECT TOPIC- SIGNIFICANCE OF ADVERTISING IN THE MANAGEMENT OF BUSINESS ORGANIZATION
1.5 RESEARCH HYPOTHESIS
Since the study seeks to know the significance of advertising in the management of small business organization.
The statement of hypothesis would be these
- Ho: advertising does not increase in sales of product
- Hi: advertising increaser the sales of a product
Ho: high cost of advertising does not percent small business from advertising
- Ho: advertising does not facility the achievement goals and objectives of small business organization
Hi: advertising facilitate the achievement of goals and objective of small business organization
1.6 SIGNIFICANCE OF STUDY
The study is most relevant to business owners as it will expose them to the under attending of flow to communicate effectively with the public and at the same time help to increase the sales at their products it will also them to compete fevouraby with other business owners within the industry in which they operate
The study is equally relevant to the public in that it will educate them on how to identify, purchase use and store their acquired products.
Finally, this research project is aimed at findings a lasting solution to problem of small scale business ad to help appreciate advertising in the sector
1.7 SCOPE OF STUDY
This study is basically selected it investigate the relevance importance at significance of advertising in the management of small business organization the focus cut across problems land prospect of advertising in relation to small business organization Auchi a case study. It will also dwell on how to use advertising in small business in a more effective and profitable manner across to the target audience. An attempt will be made to identify possible problems organization and also suggest possible problems. Finally typically advertising decision in small business organization are going to be acceded in this study.
1.8 LIMITATION OF THE STUDY
This include the inability of the researcher to study the totality of the population within the scope of the case study
There was also the problem of not being able to directly get in contact with the respondents (small business owner/ manager except a few.
There was of course the problem of double response on the administered questionnaire which is why the researcher could only give a near perfect analysis to the data collected. Also the challenge of not able to get good material from the secondary sources was not hidden in the process of carrying out.
This research this was however comminuted to substandard school library and the poor networking of the local cyber café around here.
However the research work was carefully done.
1.9 OPERATIONAL DEFINITION OF TERMS
ADVERTISING: This denotes any pad form of non personal presentation an promotion of ideas foals or services by an identified sponsor (AMA 1960)
It is also used mean a public promotion of some products services by a know sponsor (web definition
PUBLIC: Populace people in general considered as a whole a group or a body of people that share some common interest
Source: the oxford advanced learners dictionary defined source as a place, person and thing that you get something from.
It is the begging the generator and the initiator of a message through a channels to an audience e.g sales person who wishes to communicate a sales message to a people communication: it is seen as a process of passing information from one end to the other it is process of interaction between two and more persons.
The dictionary also have it as the activity of process of expressing ideas and feeling at giving people information i.e speech, which in the fasted method of communication
MEDIA: It is seem as the main ways that a large number of people receive information ad entertainment it is the channels through which messages are conveyed to a target audience e.g news paper magazines direct mails radio television e.t.c.
FINANCE: This is used to mean money used, to run a business, an activity or a project. It is activity of managing money and or money available to a person, an organization or a country.
CAPITAL: This is the amount of money that is invested ort used to start up a business.
FREQUENCY: it is used here to mean the relate which something happen and is repeated the fact of something happening often, i.e the number of time that ton advertisement is delivered through a particular medium
Business this would be seen as a commercial activity engaged in as a live hood such as trade a profession occupation or a particular field of Endeavour
OBJECTIVE: Something that you aim i.e what you are trying or weaning to achieve
ORGANIZATION: It is defined in the dictionary as a group of people who form a business clubs e.t.c together in order to achieve a particular aim it also means the total business enterprise including facilities martial money and manpower. It can also be seen as a creative procedure
RISK: reference to the measure of uncertainly about their outcome of an event.