IMPACT OF PROMOTIONAL ACTIVITIES ON FAST MOVING CONSUMER GOODS
Abstract
Unilever Nigeria Plc conducted a study to examine the impact of promotional activities on fast moving consumer goods (FMCG).
The study’s sample frame was made up of fast moving consumer goods consumers in Ikeja, and the research was limited to people aged 20 and up.
The respondents were chosen using a simple random sampling technique, with 400 consumers in Ikeja chosen, and a well-designed questionnaire designed to elicit information from the respondents.
The collected data were analyzed using descriptive statistics, and linear regression analysis was used to test the stated hypotheses at the.05 significance level.
According to the study’s findings, there is a strong relationship between promotional activities and FMCGs, a strong relationship between improved FMCG promotion strategies and consumer referrals, and a strong relationship between health labeling and consumer patronage.
Based on this, the study recommended that FMCG companies, particularly Unilever Nigeria Plc, ensure that they meticulously input the expiry date on every product they produce.
Second, it should be wary of misleading advertising, which can divert consumers’ attention away from the product.
Finally, it should ensure that the labeling of their products is healthy, as well as the expiration date and NAFDAC registration number for authenticity.
chapter One
Foreword
1.1 Introduction
Marketing today is more than just having great products, attractive prices, and accessibility. Businesses and individuals also need to communicate with current and potential stakeholders and the general public. For most businesses and individuals, the question is not whether to communicate, but what, how, with whom and how often. But as more companies struggle to engage an increasingly fragmented consumer, communication becomes more difficult. To reach target markets and build brand equity, holistic marketers creatively employ multiple forms of promotion. A promotion is an indirect form of marketing promotion designed to encourage immediate action. It is personal sales, advertising and non-public promotional activities that stimulate consumer purchases and dealer effectiveness. This includes packing, dealer allowances, and other familiar day-to-day sales activities. The objective is to increase sales of a particular product or brand above existing levels. Sales increase when more customers are lured into the store, non-branded users are attracted, and branded users are encouraged to buy more.
According to Ebue (2000), “A promotion is something special that can arouse interest, arouse a desire to buy, and elicit an immediate response from a customer, intermediary, or company salesperson.
According to Nnolim (1979), promotions should support both consumer pull and retailer push. Therefore, they categorized promotional techniques according to consumer and retailer preferences.
According to Kotler (2003), an important part of a marketing campaign consists of a collection of various incentive measures, most of which are designed to encourage retail consumers to buy a particular product or service faster or more often. Designed for the short term to inspire you to buy. Based on the effect of promotion, researchers applied product life cycle theory.
1.2 Research background
Advertising is a form of communication designed to induce action in a viewer, reader, or listener. It usually includes the name of the product or service and how that product or service will benefit consumers by persuading potential consumers or customers to purchase or consume that particular brand. Modern advertising evolved with the advent of mass production and increased competition in the late 19th and early 20th centuries.
Advertising can also be considered an element of a marketing communications program. It’s usually not the only or most important thing in building brand equity. The promotional communications mix consists of six primary communication channels.
1. Advertising:
Paid forms of impersonal presentations and promotion of ideas, goods, or services by a particular sponsor.
2. Promotion:
Various short-term incentives to encourage testing or purchase of products or services. 3. Events and Experiences:
Company-sponsored activities and programs designed to create routine or special branded interactions.
4. Public Relations and Public Relations:
Various programs designed to promote or protect the image of a company or its individual products.
Five. Direct marketing:
Communicate directly with or solicit responses or interactions from specific customers or prospects using mail, telephone, facsimile, e-mail, or the Internet.
6. Private Sales:
Personal interaction with one or more potential buyers to make presentations, answer questions, and mediate orders.
The above elements are elements of the promotional communication mix. A case study of Unilever Nigeria Plc reveals how the strategies adopted can help the company achieve its promotional goals. 1.3 Problem Description
The purpose of this study was to thoroughly evaluate the strategies and tools companies use to successfully promote their goods and services, and how this correlates with increased sales resulting from the use of various tools. to evaluate. A narrow definition of promotion as an essential means of increasing awareness of the existence and characteristics of a product, as well as positive and psychological associations that can increase buyer satisfaction and increase the true value of a company’s offer. Despite its gender, little attention has been paid to promoting it by many business organizations in the country, and it is seldom fully marketed.
Many companies pay little attention to promotions, believing that they can sell their products with little or no promotion. Similarly, despite the effectiveness of sales promotions, research and decision-making models were insufficient to address them. Additionally, many companies have established a negative perception of the cost of business support. In addition, the constant disregard for proper recording of sales and advertising expenditures and the introduction of some promotional programs at the wrong time reduce the level of sales and profitability of businesses, resulting in the critical importance of promotions across communities and countries. sexuality declines.
1.4 Purpose of the survey
The goals of this research work are:
1. Determine the impact of promotional activities on Fast Moving Consumer Goods (FMCG) of Unilever Nigeria plc products.
2. To know the impact of improving promotional strategies for his FMCG of Unilever Nigeria Plc products as a means of endorsing different brands.
3. Understand the impact of Fast Moving Consumer Goods (FMCG) health labels on Unilever Nigeria Plc products on customer loyalty.
4. Understand how knowing the expiry date of Unilever Nigeria Plc’s Fast Moving Consumer Goods (FMCG) products improves consumer satisfaction.
1.5 Research question
The following research questions have been developed
What is the impact of promotional activities on Fast Moving Consumer Goods (FMCG) for Unilever Nigeria plc products?
What improvements does the Unilever Nigeria Plc FMCG product promotion strategy bring as a means of endorsing different brands? Will the Fast Moving Consumer Goods (FMCG) health label on Unilever Nigeria Plc products affect customer service?
How does knowing the expiry date of Fast Moving Consumer Goods (FMCG) on Unilever Nigeria Plc products improve consumer satisfaction?
1.6 Hypothetical view
Hypothesis 1
H0:
There is no significant impact of promotional activities on his FCMG of Unilever Nigeria Plc products.
H1:
Unilever Nigeria Plc products have had a significant impact due to his FMCG promotional activities.
Hypothesis 2
H0:
Improving the advertising strategy process as a means of promoting the various FMCG brands of Unilever Nigeria Plc products to consumers will not have a significant impact. H1:
Improving promotional strategies as a means of promoting his FMCG brand to consumers for a variety of Unilever Nigeria Plc products makes a lot of sense.
Hypothesis 3
H0:
Health claims have no material impact on consumer acceptance of his FMCG of Unilever Nigeria Plc products.
H1:
Health labeling has had a significant impact on consumer acceptance of his FMCG for Unilever Nigeria Plc products.
Hypothesis 4
H0:
Knowing his FMCG expiration dates for Unilever Nigeria Plc products does not have a significant impact on customer loyalty.
H1:
Knowing the FMCG expiry date of Unilever Nigeria Plc products has a significant impact on consumer customers. 1.7 Importance of research
This research paper has many significances, some of which are:
This study strengthens and expands researchers’ knowledge and understanding of issues surrounding or related to fcmg funding.
To provide information relevant to the management of the organization when making promotion-related decisions.
Helps find solutions to problems resulting from improper promotion of fcmg.
Specifically, it educates advertising staff on how advertising really affects the company’s products, services and sales.
It serves as a reference for scholars/students willing to experience or increase their knowledge and insight into what the real impact of promotion is.
1.8 Scope of investigation
While it is well known that advertising covers a wide range, the purpose of this study is limited to examining the strategies used by Unilever Nigeria Plc to promote fcmg.
1.9 Definition of terms
sales promotion:
Promotions can be defined as broad labels that apply to certain types of promotional activities, not necessarily classified as advertising and direct sales.
shop:
A firm can be easily defined as the sum total of all economic activities carried out within the framework of the production and distribution of goods and services with the aim of making a profit.
marketing:
This is the job of creating, promoting and offering goods and services to consumers and businesses.
product:
Anything that the market can offer to satisfy a desire or need. Price/price:
This is the amount brought in or sold for the goods or services that the business has chosen as the final price from that price range.
communication:
The act of sending and receiving messages from people. This includes newspapers, magazines, radio, television, etc.
advertisement:
A form of communication intended to persuade a viewer, reader, or listener to take action on a product or service.
strategy:
These are plans designed to help you reach your long-term goals and objectives.
sale:
This is the rate at which the goods are sold. consumer:
The person who buys the product or service, i.e. the person who will end up using the product.
satisfaction:
It is a sense of accomplishment when using the product.
company:
This is called a company. That is, commerce.
management:
The act of managing (that is, planning, staffing, managing, etc.) all resources available to an organization in order to achieve company goals and objectives. References
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