ABSTRACT
The study examined the effects of advertisement on the success of an organisation using Diamond bank adverts as a study. The objectives behind the study were to find out various advertising strategies employed by Diamond bank to reach its numerous customers, ascertain how effective these advertising strategies are, to ascertain the extent to which these advertisements of Diamond bank have contributed to the patronage of their service in Nigeria and to identify other areas these advertisements have improved in the organisation. A total number of sixty (60) questionnaires were administered to Staff members of diamond banks in Enugu state and a total of fifty two 52 were retrieved were surveyed. The finding of the study revealed that all respondents agree that diamond bank engage in various advertising strategies to reach their numerous audience. Respondents also agree that television advert is the major the advertising media strategy of the bank. The finding of the study also revealed that the various advertising strategy used by diamond bank is very effective toward achieving its objective. The study disclosed that most of the respondents indicated that the various advertisement of diamond bank has improved the area of expansion of the bank system. Also the finding revealed that the various advertisement contribute to the patronage level of the bank and this is to a great extent. It concludes that advertisement is a veritable tool for achieving the objectives of a business organisation. It thus recommends that Banks should pay more attention on their advertising strategies in other to gain more customers.
CHAPTER ONE
INTRODUCTION
- Background to the Study
Every business organization that is determined to succeed has to adopt an effective system for the promotion, distribution and sales of its services or product. Advertising is of three general means in term of communication. We read it and/or watch it, and there are almost countless means of delivery with sales message.
Advertising is a form of mass communication with the public. It is usually one sided i.e. from the company to the buyer/potential user of the product. It is a form of communication that typically attempts to persuade the potential customers to purchase or consume more of a particular brand of product/services. As rightly defined by Bovee (1995), “advertising is the non-personal communication of information usually paid for and usually persuasive in nature about products, services or ideas by identified sponsors through the various media.”
Advertising an important tool of communication is use to promote commercial goods and services, it can also be used to inform, educate and motivate the public about non-commercial issues such as AIDS, Don’t drink and drive, Polio, Save water, electricity, animals and trees etc. “Advertising justifies its existence when used in the public interest – it is much too powerful tool to use solely for commercial purposes” Baron (2004).
Advertising is most effective with products that can be differentiated from similar products based on consumer accepted quality difference. Tom Egelhoff (2006) has classified advertising in 6 types, i.e. for company image, name brands, advertising service instead of a product, business-to-business advertising, co-op advertising and public service advertising. Television, Radio, Cinema, Magazine, Journal, Newspaper, Video Game, Internet, Billboard, Transit Cards, Sandwich Board, Skywriting are the different mediums used to deliver the message. The companies choose the method according to the cost, budget, target audiences and their response. However, word of mouth advertising/ personal recommendations is an unpaid form of advertising which can provide good exposure at minimum cost.
