Advertising Strategies and Marketing New Products: A Case Study of Manufacturing Industries in Nigeria
DOI:
https://doi.org/10.51137/wrp.ijarbm.435Keywords:
Advertising Strategy, Marketing, New Product, NigeriaAbstract
Making decisions is getting harder and riskier because of the business environment's increasing sophistication. Bad decisions are causing business enterprises to fail. Investors are dissatisfied because they are losing money. Following this, the purpose of this study is to assess the effect of advertising strategies and marketing new products in the manufacturing industry in Nigeria. 350 employees of Beloxxi Industries Limited, Nestle Nigeria Plc, and Vitamalt Plc, Agbara, Ogun State, make up the research population in this study. The Taro Yamane formulas indicate that the study's sample size is 157. The research design employed in this study was a descriptive survey. Based on the respondents’ response, the findings show that personal selling is seen as an effective tool used by organizations to receive the desired response from its customers. Additionally, 10 respondents strongly disagreed that appeal as a promotion tool has declined rapidly due to the diminishing novelty of saving stamps. This study recommends that by encouraging more customers to choose their goods and services over those of a competitor, manufacturing companies can increase their market share by offering rebates.
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