THE IMPACT OF ADVERTISING ON THE GROWTH OF SMALL SCALE

BUSINESS IN NIGERIA (A STUDY OF STANDARD INSURANCE

COMPANY ABA)

APPROVAL PAGE
This project was written and approved under marketing department and
is worthy of acceptance in partial fulfillment of the requirement for the
award of higher notional diploma (HND) and was carried out by Amadi
Esther U. with Registration NO. 08H/1413/MK in marketing, school of
business and management Technology, Federal Polytechnic Nekede
Owerri.

…………………….…………. ………………………………
Mr. Pat Njoku DATE
(Project Supervisor)

………………………..………. ………………………………
Mr. Nebo Okwudili G. DATE
(Head of Department)

…………………………………. ………………………………
External Examiner DATE

DEDICATION
This project work is dedicated to Almighty God, who made the
realization of this work very much possible.

ACKNOWLEDGMENT
The writing and eventual completion of this project is as a result of the
effort made by persons too many to maintain. I must however,
mention some individuals for their unique roles and contributions.

I wish to acknowledge with immense thanks the contribution of my

supervisor Mr. Pat Njoku, and all the lecturers in marketing department.

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I express my indebtedness to my beloved parents Mr. & Mrs. Chrsitain
Amadi, for their financial and moral support. I also thank my uncles,
among who are uncle Bernard Amadi for his financial support and
encouragement.

I am particularly thankful to my uncle Eleazer Oforum for his moral

support and also my sisters, brothers, cousins, friends and well wishers
for their prayers and good will message, may God bless all of them.

ABSTRACT
This project work was conducted in standard insurance company Aba in
order to find out the impact of advertising on the growth of small scale
business.

The project work consist of four research questions, which were stated
to determine the impact of advertising on the growth of small scale
business.

Forty two questionnaires were distributed and forty two were returned.

The questionnaire was the research instrument the researchers uses

descriptive method. The findings show that advertising play a significant
impact on the growth of small scale business and that advertising ahs
favourable effect on the business of standard insurance company.

The placation of the findings of the growth of small scale business were
examined
The findings induces:
1. the standard insurance company ahs reduced the intensity of its
advertising campaign
2. the company, which used to be major sponsor of programme on
radial has related to another customer that makes its patronage
once in a while
3. The company advertise through electronic media merely.
4. The company ahs open a new branch in Delta State without being
advertise.
5. The reason for not advertising the new branch in delta state as
due to low funds.

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Also the manager believes that the advertising that ahs been in the past
still ahs a carryover on the public.

TABLE OF CONTENTS
Title page i
Approval page ii
Dedication iii
Acknowledgements iv
Abstract v
Table of contents vi
CHAPTER ONE
1.0 INTRODUCTION
1.1. Background of the study 1
1.2. Statement of problem 4
1.3. Objectives of study 4
1.4. Research questions 5
1.5. Statement of hypothesis 6
1.6. Significance of study 6
1.7. Scope of study 7
1.8. Limitation of the study 8
1.9. Definition of Terms 8
CHAPTER TWO
2.0. LITERATURE REVIEW 10
2.1. Definition of advertising 10
2.2. Origin of advertising 13
2.3. The media 15
2.4. Usefulness of print and electronic media 19
2.5. Types of advertising 23
2.6. Cost of advertising and its merits 26
2.7. What is small scale business 30
2.8. Role and importance of small scale business 31
2.9. Characteristics of successful business owners 33
References 37
CHAPTER THREE
3.0 RESEARCH METHODOLOGY 38
3.1. Introduction 38
3.2. Research Design 39

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3.3. Population and sample size 39
3.4. Sources of data collection 40
3.5. Method of data collection 40
3.6. Sample techniques 41
3.6. Validity and reliability of measurement Instrument 41
3.7. Method of Data analysis 42

CHAPTER FOUR
4.0. PRESENTATION AND ANALYSIS OF DATA 44
4.1. Introduction 44
4.2. Presentation of Data 45
4.3. Analysis of data 48
4.4. Test of Hypothesis 45
4.5. Interpretation of results 55
CHAPTER FIVE
5.0. SUMMARY, CONCLUSION AND RECOMMENDATIONS
57
5.1. Summary of findings 57
5.2. Conclusions 58
5.4. Recommendations 60
Bibliography 62
Appendix

CHAPTER ONE
1.0. INTRODUCTION
1.1. Background of the study

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In a society like ours and in the world in general where products and
services are identical and numerous, it has become of immense need for
marketers or producers to look out for an avenue of making their
products known to the entire markets share. The number of producing
of substitute and identifiable goods and services are so enormous that
the consumer in general is placed in a confused state as regards the
product to select from a wide range.

The market is therefore filled with marketers and producers wanting to

sell their products it ensure that ownership transfers are affected
efficiently and profitably, producers have to adapt to the functions of
advertising which include:
(i) Marketing the process of selling cheaper
(ii) Putting the creative executive in the profession to task.
(iii) Generating employment opportunities
(iv) Creating of awareness among consumer about the availability of
product or service or about a particular idea that is supposed to
be embraced, thus contributing to standard of living and output
level.
(v) Creating the freedom of choice from goods and service available.

To achieve effectiveness in these functions, above attention must be

paid to follow issues with every seriousness of that the investment in
advertising would not be wasted.

Advertising is the means by which we make known what we have to well

or what we want to buy.

Jefkins (1985) stated that advertising keep the potential users and
consumers aware of a product that exist.

Etal (1978) stated that advertising enables the firm to communicate with
prospective customers to inform them of its products or services and to
persuade them to buy and use the product.
Supporting the fact, a good advertising requires a fall for the
merchandise being featured, and this comes only from Fami Larity with
the products and the people who sell them.

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Advertising is essential on the growth of business success since it
encourages competition among business firm, which enhance the
production of high quality goods and services.

1.2. STATEMENT OF THE PROBLEM

It is doubtful whether advertising keep the potential users and
consumers aware of a product that exist.

It is also uncertain whether advertising enables the firm to communicate

with prospective customers to inform them of its products or services
and to persuade them to by and use the products.

It is unclear whether the print media use on the growth of small-scale

business has any favourable effect on the firm.

It may be true that advertising is essential on the growth of small scale

business since it encourages competition among business firm, which
enhance the production of high quality goods and services.

1.3. OBJECTIVE OF THE STUDY

The objective of the study include:
1. To know if advertising plays a significant impact on the growth of
small scale business.
2. To determine if the print media is more useful than electronic
media on the growth of small scale business
3. To examine if the cost of advertising has a favourable effect on the
business of standard insurance company Aba.
4. To identify whether advertising has a favourable effect on the
business of standard insurance company Aba.

1.4. RESEARCH QUESTIONS

1. Does advertising play a productive impact on the growth of small
scale business?
2. Is the print media more useful than electronic media on the growth of
small scale business?
3. Does the cost of advertising merits its use on the growth of small
scale business?
4. Does advertising has favorable effect on the business of standard
insurance company?

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1.5. STATEMENT OF HYPOTHESIS
Ho: Advertising does not play a significant impact on the growth of
small scale business.
Hi: Advertising plays a significant impact on the growth of small scale
business.
Ho: Print media is not useful than the electronic media for the growth of
small scale business.
Hi: Print media is more useful than the electronic media on the growth
of small scale business.

1.6. SIGNIFICANCE OF THE STUDY

Advertising in its effectiveness represents an important part of the entire
promotional scheme that can be strategically employed by the firm for
competitive advantage. Therefore, to achieve this purpose, direction are
crucial and paramount if resource men, money and material are not
wasted, as long as the company consider it necessary to advertise its
goods there is every need to sale higher efficiency with the weapons
invariably this is what this a text tries to portray and offer in terms of
recommendation and its application to the company in relation to these
tools, advertising management and its effectiveness on the growth of
small scale business.

1.7. SCOPE OF THE STUDY

Advertising is a very wide topic on its own but this study is restricted to
the understanding of the impact of advertising on the growth of small
scale business with special reference to standard insurance company.

The study is also restricted to the staff of the insurance company

starting from the senior management staff to the junior clerical staff.

Finally, the research was expose to number of related books, journals,

and newspapers publication for review purpose.

1.8. LIMITATION OF THE STUDY

This study is limited to an extent, due to time and financial constraints,
some other factors including the distance between the case company
and the research station.

Coming to financial constraints the researcher was not able to reach out
for all the requirement like journals, newspapers publications etc for

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review purposes, as a result of this, the researcher used the cause study
of standard insurance company Aba.

To solve these problems the researcher have to use both the primary
and secondary data on-line work.

1.9. DEFINITION OF TERMS

The term advertising mean: this is the arrow head of marketing
communication advertising does not open to take a close substitute due
to its vital rate in contemporary marketing and its peculiar function in
the business objectives.

Another term in this topic is the small scale business, the definition
made by some economist, the Untied nation industrial development
organization (Unido) defined it due to its feature the areas of promotion
is localized and workers community of course, come to make branches in
different towns infer at depots the reason of not getting any consensus
on what constitutes a small scale business is that different countries are
with different economics conditions. The definition adopted by a country
is according to its economic circumstances.

CHAPTER TWO
2.0. REVIEW OF RELATED LITERATURE

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This chapter is set to review the related literature as it involved the
origin of advertising, the definition of advertising, the mass
communication, the usefulness of print and electronic media, the types
of advertising, the cost of advertising and its merits, what small scale
business is, and the characteristics of successful business owner.

2.1. CONCEPTUAL LITERATURE

2.1.1 DEFINITION OF ADVERTISING
Advertising according to Philip Kottler (1976) is any paid form of non-
personal presentation and promotion of ideas, goods and services by an
identified sponsor.

According to Courtland L. Bovee and William f. Arena (1982) 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.

According to Bona Chuks Ebue (1995 : 72) advertising is a powerful

communication tool used by companies to fulfill the promotional task. it
is an impersonal form of communication or presentation of goods ideas
or services conducted through paid media under open or identifies
sponsorship. All about advertising is a sponsor sending a message,
called advertisement, through one or more mass media (radio,
television, news papers, and magazine) to reach large number of
potential users or buyers of a product. By itself advertising is a vital
marketing tool that helps to sell goods, services, images and ideas
through information an persuasion. Many companies considers
advertising a superior promotional tool to personal selling, sales
promotion, public relation or publicity. This is because it provides
multiple presentation to masses of people with one message, with each
prospect.

There are many definitions of advertising it is insufficient to talk only of

silent salesmanship and salesmanship in print, which might be all right
as description o press, poster and direct mail advertising. In 1905, an
Canada mountain named John F. Kennedy advertising as salesmanship
in print, but that was before cinema, radio and TV advertising.

According to Ezirim, Udo and Okorie (2002) identified two such broader
definitions of advertising

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 (1) advertising is the means of making known in order to sell
goods or services
(2) Advertising presents the most persuasive possible selling
message to the light prospects for the product or services at the
lower possible cost.

Advertising is an expensive activity where gains are not always easily

isolated. Therefore, in our economy that is characterizes by scarcities of
essential commodities there is even greater doubt about the usefulness
of advertising. It advertising has other useful objectives beside
immediate increase in sales.

2.1.2. ORIGIN OF ADVERTISING

The emergence of an institution is often promoted by a striking factor or
forces that strongly demanded its existence. The emergence of such
institution is never a mystery but realistic depending on the need for
them that its varieties of external forces is present to nourish its
development institutions not immortal but for an institution to survive,
they must be dynamic and adopt to changing conditions Wright et al
(1983)

Advertising has gone a greater extent of development in modern

business, especially to the small scale industries and business compared
to the ancient and mediated time when advertising is crucially
organized of course, the aims of employing techniques are the same, to
create awareness, persuade, communicate information and ideas to the
target audience. in other to change the attitude Wright at el (1983)
advertising tries to influence others to win their customers suffrage and
convince is oral that the use of which expressed man’s desire and
thought picture method occupied the second position, which gave
advertising lasting form and finally the emergency of writing advertising.

Advertising emerge contemporarily with trade, in the ancient

Babylonian, Egypt and Greece signs and used to advertise waves,
product and service signifying the information roles played by
advertising. Because of mass and wide spread of illiteracy most early
advertising was by word of mouth Encyclopedia international vol (1981).

The invention of moveable type, (stricky inks and printing press) by

Johnnes Autinbery advertising irrevocable in world of business. The

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invention of this medium enables people to have their own bi9ble,
neighborhood hand bills and txt book and merchant. The first English
print announced the sale of prayer book in (1450) by William eaxton
encyclopedia vol. I (1981).

Advertising has grown and enjoyed the availability of new advertising

media, with he development of news papers and hand bill advertising,
the small scale business operation ahs been enjoying high rate of turn
over through the role of the customer or consumers these message
media, radio, television, direct mail, out door signs, posters, transits
media (car, cards, display stickers) among others. Encyclopedia
international vol (1981).

2.1.3. MEDIA SELECTION

Media selection is determining the best medium or vehicle to deliver an
advertising message to the prospective customers, media, therefore are
the means through which advertisers reach their target audience with
advertising message. Strategies for selecting the media available to the
advertiser include advertising and a key other special advertising outlets
such as yellow pages sky writing calendars.

THE PRINT MEDIA

This consists of newspaper and magazines. A newspaper according to
Prest (1991) is typically a daily or a weekly publication which offers
advertises intense local coverage penetration at a relation low cost.
Newspapers tend to select their news, features and editorial subject on
the basic of the tasks and requirement of the people within its circulation
territory. They are usually geographically selective magazine. The are
another form of print media magazines unlike newspapers and appeal to
a particular people in all areas of the country

ELECTRONIC MEDIA
This consists of broadcast and television broadcast. Press (1991)
emphasized that successful advertising through electronic media
required sound engineering. The enable delivery prgorammes of clear
undistorted signal to target audience, attractive popular programme of
clear undistorted signal to and interest, while radio broad casting makes
an impression only through sound, television combine sight and sound.

OUT OF HOME MEDIA

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According to Ejiofor, the out home media can also be referred to as
position while their calculation revolve around them.

Ejiofor (1990) identified two basic form of home media, out door
advertising is easy to recognize advertisers or producers name. it is
short and simple legible copy. It illustrated material that are range, bold
and colourful.

Transit advertising is the one which is carried out synonymously with the
operation of mass transportation in urban areas. Messages can be
placed on vehicles or inside them or at the station of mass transits.

SPECIAL ADVERTISING
This refers to the distribution of free items bearing the firms name and
logo to present potential customers the items usually carry brief
advertising messages. The items need not to be expensive but should
be selected in the basis, at least three underlying criteria. It should be
good quality. It should be familiar with the recipient and it should be
useful to recipient. The items can include things like Ash-trays, caps,
etc.

EXHIBITIONS AND FAIRS

This is a media that combines the functions of showing the product and
demonstrating and communicating its main features to others, than
showing the products exhibitions can also sell products.

DIRECTORY ADVERTISING
This is advertising done in such publication as the telephone directories
and yellow page. This is particularly useful to business to provide
emergency service like plumbing.

2.1.4. USEFULNESS OF PRINT AND ELECTRONIC MEDIA

As earlier mentioned, the print media.

As early mentioned, the print media is made up of the newspapers,

magazines etc radio and television.

ELECTRONIC MEDIA

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According to Faison (1981) television was the highest overall impact of
any medium, television can reach an enormous audience with a single
advertisement yet cost per explore is relatively low, because television
uses sight, sound, motion and colour, it delivers a message with great
realism. Television maintains a good degree as audience selectively due
to most of programme. A major advert o\on television he said is
psychology of attention, that is, an audience will continue to watch a
commercial message rather than get to switch channels.

As supposed by Faison (1981) the major commercial message of

television is the large absolute (versus relative) most of national
advertisement, the poor availability of desired items or programmes to
air to commercial and the lack of easy re-exposure as opposed to print
media). Even with these disadvantages of television according to him,
television has a high psychological impact because it is realistic and has
a multi channel nature. It provides manufacturer with an opportunity to
demonstrate their product and it has the ability to build strong brand
images.

According to washow (1971), radio was the most persuasive medium

until the advert of television, since the arrival of television, radio has
undergone great changes. Technological radio developed into a highly
potable medium as the transistor was ushered in, now radio can be
found in the home, in branch stores and offices. Although radio has a
massive medium. Its selectivity is due to the plethora of programme
formats.

Advertisers can elects nearly any age, race of socio economic class they
wish with radio attracts a larger audience than television or newspapers.
It has however, the major disadvantage of electronic media. It is
fleeting hereby lacking in easy re-exposure and moreover, it cannot
deliver the visual impact television. It also lack the prestige of television
and is subject to a high degree of message distortion.

PRINT MEDIA
Print media has some distringuishing strength, it has a high geographic
flexibility ie advert can be placed in some markets to the exclusion of
others and therefore have copy tailored to each. It had short closing
time, advert usually can be placed in newspapers with 24 – 28 hours

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period. It read most widely by well educated and high socio economic
group. It has highly involved reads and it is no habitual activity.

USEFULNESS OF PRINT MEDIA OVER ELECTRONIC MEDIA

They are as follows: an audience will retain complex factual material
better when it is presented in print as opposed to oral presentation on
the other hand, the electronic media are more effective for simple
materials. The print media permits easy re-exposure whereas the
electronic media are flattery. The electronic media offers consumers a
great sense of realism than the print media. The print media can control
the time, place and direction of the exposure. Each medium has its
strength and weakness. According to Wayne, the media mix, which an
advertiser selects, should be based on the characteristics of the product
and target market.

The above mentioned about the usefulness at the print media over the
electronic media was said by Wayne dehozier, of the marketing
communication.

2.1.5. TYPES OF ADVERTISING

There are various forms of advertising. The objective of the particular
advertising campaign or organization would set to achieve its aims.

According to Stanton W. (1970) there are basic types of advertising

campaign in the key determinant of which the various norms of
advertising campaign or organization would s to achieve its aims.
According to Stanton there are basic types of advertising they are;

PRODUCTION ADVERTISING
This is a type of advertising a product, it is that which is usually aimed
at the final uses or channel members.

INSTITUTION ADVERTISING
This form of advertising tries to develop goodwill for the organization. It
is that which the organization uses to boost its image rather than
concentrating on the products. Whatever the type of advertising they
are both geared towards the same goal ie to persuade the customer to
make a purchase.

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PIONEERING ADVERTING
This is the form of advertising that is needed in the early stage of the
product in its life cycle. It tries to build primary demand for a product
category rather than specific brand. This form of advertising does not
have to mention any brand or specific campaign at all.

COMPARATIVE ADVERTISING
This is a form of advertising which make specific brand comparison using
actual product names. This is a type in which company “A” tells
company “B” about a product and goes on to show it. Although this type
of advertising is described and because of legal problems that usually
arises from it, moreover, they have the ethical problems to consider.
Reminder advertising
This type of advertising reinforced early promotion. It tries to keep the
product name before the public. This form of advertising is mostly build
on a certain image for the organization and in some cases influence the
customers to be loyal to their products. However, its term of sales.

COMPETITIVE ADVERTISING
This type of advertising lays emphasis on selective demand, that is
demand for a specific brand rather than a product category. As the
product of a company moves along its cycle management may be forced
into competitive advertising to prevent competitors for carting away its
share of the market competitive advertising could be direct or indirect.
The direct type is aimed of immediate buying action, while the indirect
point out the product advantages of affect future buying decision.

2.16. COST OF ADVERTISING AND ITS MERITS

According to Wadman (1977) setting an advertising cost budget is one
to the difficult task that many companies face. This is because in
arriving at the amount to be spent, the company must consider many
variable, such variable include, population or income trade the economic
situation and competitive behaviour. There is also the time uncertainty
with regards to the effect of advertising that is the point of time when
the customer is convince from merely being aware of the product into
actually purchasing it.

Besides, spending either two much or two little or no wrong media can
waste advertising funds. Therefore, to avoid unnecessary wastage and
to produce the most effective advertising a proper analysis of what

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happened in the past can give indications what should be done in the
future. It is pertinent in any organization, the advertising could be
consistent with the overall corporate policy, objective, the sales target
and what is expected of advertising. The advertising cost especially for
consumer goods and durable is one of the longer competent in the total
market budget. It is substantial in the communication mix budget cost.
So assessment of the merits of advertising and control of cost of
advertising are vital necessities.

According to Kotler (1984) advertising cost is different to assess for the

purpose. The main purpose of advertising is to make people to be aware
of existing goods thereby increasing demand and sale. Therefore, the
merit of advertising is to increase sale. As a rule, advertising is held
Accountable for achieving certain level of sales but a strong body of
opinion believes that the sole use of this criteria gives an uncertain base
of assessment. The problem is that the actual and casual relationship
between advertising and sales rise because of the new advertising
campaign. What would have happened if there has been no advertising?
Would the sales increase due to a rise of total demand? These are some
of the questions. It also asked, how does advertising influence total
demand? Since the industrial revolution of the 18 th century, which
resulted in the emergence of modern business, advertising has under
one considerable changes that have been both the consumer and
producer. Also there is a closer communication between the greater
choice and more aggressive competitions.

According to Ajai (1985) advertising aimed at communicating

information about a product, services or ideas thus stimulating demand.
In the comparison of the cost of advertising, much has been gained from
advertising compared to the cost involved. Advertising has seemingly
quickened the pace of economic activities. It has helped to increase
demand, sales and profits, like most advertisers once commented, that
he knows that half of their advertising was wasted because the expected
return compared to the cost of advertising is not commendable. Hulme,
feels that advertising is too expensive.

Juflwin (1982) commented that advertising effects is so valuable that no

matter the amount of money it costs a skillful and adequately used
advertising campaign can well be the easiest and cheap method of
reaching the market. As supposed that the cost of advertising is

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measured in terms of the value. It is given advertising is termed
expensive only if it fails to result in higher sales, but a successful
advertising, can be very cheap. To make this clearer, if is utilized on
advertising ventures is inexpensive and even termed a profitable
investment, if one the other hand. Such money is spent on advertising
and no resulting sales increase profit is reported, then the advertising
can be termed expensive or even resource wasting.

2.1.7 WHAT IS SMALL SCALE BUSINESS

Small scale business can be defined as a business which is owned and
controlled by one or few persons, with direct owners influence in
decision making, and having relatively low capital requirement. Small
scale business can be defined in terms of organization of operation e.g.
one man business, partnership firm etc. it can equally be looked out in
terms of the scale of operation. Hence, a business with a turnover of less
than 5m perineum could be liked to a small-scale business. The concept
of small-scale is ambiguous especially when comparisons are made
between countries as different stage of development. The search for a
standard definition of small-scale industry yields meaning from country
to country depending on the amount of capitalization level of
employment and method of promotion among other criteria.

Because of the ambiguity of the definition of small-scale business as

continue starting from the informal sole proprietorship and intending to
an upper limit defined by law of the country concerned.

According to Peter F. C. (1990) explain that various Agencies have

different classifications. National bank for commerce and industry,
federal ministry of small scale business was established in 1952 by the
Untied nations economic commission for Asia and the far easy. They
commission defined small scale business as the operated mainly with
hired labour usually not exceeding 50 works if not notive power was
used or 20 workers if motive power were used.

2.1.8 ROLE AND IMPORTANCE OF SMALL SCALE BUSINESS

The relevance of small scale business cannot be over emphasized. The
gain to be derived from the establishment of the small scale business
can be translated into the generation of employment at a low
investment cost.

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According to Peter F.C. (1990) small scale business are labour intensive
rather than capital intensive and they therefore strick more directly at
the problem of unemployment and poverty and the speed up the
development of human resources.

Most of them do harness their raw material, the growth of small scale
business can lead to a rapid development of rural areas. It helps to slow
the tide of rural area/urban migration they serve as a medium through
which government has formulated and implemented various policies to
redress firm, provide a productive outlet for enterprises and independent
minded people

The also offer the most efficient form of business organization in

industries. Where the optimum size of the small scale business are
many in Nigeria. The bulk of business in Nigeria are small scale
business and the panacea for economic growth in developed countries
has often resided on the development of small scale business in
recognition of this fact, the government such as the Nigerian industrial
development bank development cooperation of industrial research. All
these agencies institution were established by the government. The aim
of these agencies and institution is to help the small scale business
acquire capital, the technical know how required managerial know and
general to encourage small scale business.

2.1.9 CHARACTERISTICS OF SUCCESSFUL BUSINESS OWNERS

According to Ajie E.R. (1985) and Hang-man R. (1968) reveals an
extensive to the list of what different authorities is important to the
small scale business. The most recurrent attributed in the list of likely
successful traits are

Drive: In general term, drive is a person motivation towards a task, it

is comprised of such personality traits as responsibility, vigor, initiative,
persistence and ambition. The manager who works hard in planning
organizing coordinating and controlling his small business is more likely
to have a successful business than a manager who is lazy and
haphazard.

Mental ability: This contributes to the success of small business

entrepreneur to the success of overall intelligence, creative thinking
ability, and analytical, thinking. The small scale business manager must

18
be reasonably intelligent, he must be able to adopt his addition to the
needs of the business in various situations, and he must be able to
adopt his addition to the needs of the business in various situations and
he must be able to engage in analysis of various problem. The small
business manager who is able to recognize his problems and create
ways of solving them is much better equipped to successes in business
than the individuals who is unable to perform these functions.

HUMAN RELATION ABILITY

The small business manager must maintain good relationship that will
encourage them to continue to patronize his business. There should be
important contributors by the entrepreneur managers success in small
business like emotional stability personal relation, sociability,
consideration, tactfulness etc there should also be ability to put himself
in some place and ability to practice empathy.

COMMUNICATIONS ABILITY
In this case, there is the ability to communicate effectively in both
written and oral communication. In this system, both the sender and
the receiver will understand. The small business manager who can
effectively communicate with customers employees, suppliers and
creditors will be likely to succeed than the manager who does not.

INNOVATIVENESS
The business environment is a dynamic one requiring constant
identification, evaluation and adaptation, consumers want and expect a
team of new and improved methods and products. According to Duckers
manager will have to learn to build and manage an innovative
organization.
2.2 THEORETICAL LITERATURE
Advertising has numerous objectives which includes communicating with
potential customers as well as pursuading them to adopt a particular
product or develop a preference towards the product for repeat purchase
which ultimately results in brand loyalty. Advertising Theory or theories
therefore try to explain how and why advertising is effective in
influencing behaviors and accomplishing its objectives.
There are numerous theories on advertising. Most theories of advertising
generally propose that the effectiveness of advertising is dependent on
the main practices being carried out including more exposure towards
the brand or repetitive advertising.

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In other words, most theories sugest that if you want a consumer to like
a product or a brand continously then simply expost the consumer to a
product or brands advertising such that there are certain feelings and
expectations attached towards the rand itself. Advertising theories also
make use of content specification, Specific message and media
characteristics, consumer characteristics, product/service characteristics,
and competitive actions.
This study is anchored on the following theory which are relevant to the
understanding of the subject matter:
1. THE MEDIATION OF REALITY
Advertisements are successful when they are integrated with other
media and environments in which they are completely submerged. It is
advocated that it is not the content of the ad that makes them
persuasive, but the incorporation of media to amalgamate actions and
fictions. The media defines the excitement and addiction by expanding
and strengthening neutral responses.
2. SHIFTING LOYALTIES
Ads mirror changing loyalties. Although ads create intense brand loyalty,
they also prompt customers to shift their loyalties and to disown their
current loyalties for a relatively new brand in the market.
Studies show that the ads have changed a lot from the 1950s to the
1960s. The presentation and message of most ads were found to
encompass the anti-authoritarian hippie-culture, which had always been
planned and distributed by huge corporations persuading the status quo
and capital interests.
3. THE MAGIC OF THE MEANING
Advertisements carry a strong message with a meaning instilled in them.
Ads touch our values, emotions, and the underlying beliefs. In 1962, a
cultural theorist Raymond Williams explained how advertising had swept
the goal of selling goods and is more associated with teaching social and
personal values, which is promptly entering politics too. Advertisements
are organised magic’s that hide the real intention of the selling house,
which is to sell a product to make profits.
4. THE HIDDEN MESSAGE
Certain ads misrepresent and misguide the consumers. Packard declared
that advertising is threatening since it uses psychology to form
emotionally loaded messages and as the messages are hidden, the
viewer’s critical resilience is dodged and minimized. This approach
clearly states how critical thinking of the potential consumers can be
manipulated with ads.

20
5. IMITATIVE DESIRE
Advertisements tend to act upon the prospect’s mind. It’s been observed
by some theorists that people usually have the desire of becoming
others, especially when the other person is famous, beautiful or
powerful. But the reality is it’s impossible for someone to become like
another. However, this impossibility keeps the desire alive in all of
us. The soul of the ritual is that people work in communities through
imaginative projection towards others.
All the above theories have their merits and demerits. Criticism intends
to improve understanding, clarify values, and to narrow the space
between what we are doing and what we want to do. Advertising is a
completely adaptable tool with no boundaries that can serve the
revolution as well as a corporation. It is important that the customer not
just focuses on the message of an ad, but also understands the media
and environments in which the messages are relayed.
2.3 EMPIRICAL LITERATURE
Empirically, D.Prasanna Kumar & K. VenkateswaraRaju1 (2013) in their
research paper suggested that advertising is a form of communication
intended to convince an audience (viewers, readers or listeners) to
purchase or take some action upon products, information or services etc.
According to the researchers, buying process is a decision – making
process carried out by buyers under risk. Their researchstudied the
relationship between emotional response with attitudinal and behavioral
aspect of consumer buying behavior, by tapping the responses of
110 respondents. The basic purpose of this research was to understand
the influence of advertising through attitudinal buying behavior of a
consumer and also analyze the influence of Advertising between male
and female.
Naveen Rai2 (2013) found thatadvertisement worldwide influence the
behavior and attitude formation of consumers not only in India but also
worldwide. The researcher found out that consumers of durables
products have their motivational sources in advertisements and the
study suggested that advertisement motivates customers to materialize
the purchase of durables. They are induced to a great extent by
advertisements especially when the target is on quality and price.
Further, purchase attitude and behavior was found to be influenced by
variety of advertisements covering product evaluation and brand
recognition.

21
Swati Bisht3 (2013) researched that there is a positive relation between
TV Advertising and youth purchase behavior. Literature also suggested
that there is a positive relationship between emotional
response with consumer buying and TV Advertisements. Hence, it was
concluded in the research that consumers purchase products by
emotional response, rather that environmental response.
Dr. Sindhya V4 (2013)observed that awareness level about effect of
advertisement is relatively better in student teachers. It was found that
many are active listerners of media and gather information regarding
new products, market trends and product comparisons. It was observed
that female students are more interested in jewelry and cosmetics,
whereas, male students like automobile and electronic equipment. The
research found that some consumers rely on advertising claims and
personal experience to form their own judgements about advertised
products. The study hypothesized that advertisements contain content
that is consistent with their preferences will be viewed as believable
compared to advertisements that contain ad content that is inconsistent
with their perceiving-type preferences.
Ronald Paul Hill5 (1988) opined that current literature in the area of
mood has focused on the ability of advertisements to elicit particular
mood states or on the effects of mood on the processing of
information contained in ads. However, this research stream has
neglected the possible interactive relationship between the current mood
of consumers and the mood intrinsic to and the information contained
within the advertisement. This paper discusses possible mood
management strategies of consumers when they evaluate
advertisements and presents a simple framework for understanding this
phenomena.
2.4 GAP IN LITERATURE REVIEWED
It is not only knowledge dissemination that is problematic but
also the content of advertising knowledge itself. This study therefore
suggests that more research should be carried out on measurement in
advertising and advertising precision “Because our measurement
systems lack precision in comparison with those used in classical
sciences”. The impact of advertising on consumer behaviour and its
likely mode of response should be addressed and this study should be
replicated to other states of the country because of the efficacy of its
findings and support to boosting the growth and development of small
scale business in Nigeria.
2.5 SUMMARY OF REVIEWED LITERATURE

22
Advertising plays a vital role in a competitive era. With all major and
minor players in the market trying to impress the „lord of the market‟,
the consumer, advertising becomes an important tool among others in
trying to persuade the consumer to buy a particular brand. Whether new
or old, market leader or new entrant, everyone has an advertising
strategy. However, over the years, doubts have been raised on the
effectiveness of advertising and its impact on consumers. In a lot of
cases, the impact of advertising has found to be negligible and also to an
extent negative since, people believe that advertisements is all about
half-truth and full lies. Also, the lack of legal enforcements meant that
advertisers could exaggerate the features and performance of their
offering to such an extent that people lost faith in message. However,
there are some messages, which are still valued. Thus, it can be seen
that though advertisements play a vital role in the growth of small scale
business in Nigeria, its overall impact was less and heavy advertising
and promotion would not necessarily result into larger market share.

CHAPTER THREE
3.0. RESEARCH METHODOLOGY
3.1. INTRODUCTION
Methodology according to Anaynwu A. (2000:3) refers to the way and
means of doing something. According to him also, it is a mode of
investigating truth and estimating evidence while research methodology
embraces the process involved in obtaining and analyzing data relevant
to the study and how the research will be conducted for effective result.

In this chapter, the researcher itemized and explain the methodology

and procedure employed in the collection, analyzing and interpretation
of data collected during the study.

To this end, the following areas are specifically covered in order to

achieve the objective of the study.

3.2. RESEARCH DESIGN

Ibekwe, C.F. (2003:8) defined research design as the plan, structure
and strategy for research investigation conceived so as to obtain
answers to research questions and to control variance.
This research is descriptive in nature the method analysis of data for
this study is descriptive.

23
3.3. POPULATION OF THE STUDY
According to Bassi B.P defined population as the aggregate number of
elements defined prior to the selection of a sample. The population of
this study consist of some of the management, employee, customers of
the Standard Insurance Company Aba. The population is 73.

Sample size
Since the researcher can effectively reach the entire population, the
management, employee and customers of the company therefore
constitute the sample size upon which questionnaires were administered.
3.6. SAMPLING TECHNIQUES
Since the population is too small, there is no need for sampling

3.4. SOURCES OF DATA COLLECTION

In this study, the researcher adopted the primary and secondary sources
of data collection
Primary sources: These are information gotten from the field. It can
take form of personal interview, questionnaire observation. In this
study, the researcher adopted questionnaire as the main sources used.

Secondary sourced: These are information generated from review of

relevant literature such as text books, company’s journals, articles,
newspapers and other publications.

3.5. METHODS OF DATA COLLECTION

The researcher distributed 42 questionnaire upon which 42 where also
returned.

RESEARCH INSTRUMENT DESIGN

This is the consistency of the instrument of the meaning whatever it
prompts to measure in order to have ease of application. The study
adopted percentage method.

3.7. VALIDITY AND RELIABILITY OF MEASURING INSTRUMENT

Validity refers to the degree at which a sample instrument measures
what it designed to measure. To this end, the researcher had
constructed the questionnaire in such a manner that it adequately
covers the scope of the study by asking the relevant questions so as to
make the questionnaire capable of eliciting the required responses from
the respondent.
24
To know how reliable the response in the completed questionnaires are,
the researcher made another round distribution of the same
questionnaire to another set of respondents other than the first set and
it was discovered that the same responses was given by the
respondents. So based on this, the research concluded that the
instrument used was valid and reliable.
3.7. METHOD OF DATA ANALYSIS
In analyzing the data collected, the researcher made use of simple
percentage and chi-square (x2).

Simple percentage
The percentage were used to analyze a relevant questions in the
questionnaire through the aid of tables. It is mathematically
represented thus:
% = F N x 100
1
Where:
F = frequency of respondent to a particular
Question
N = total number of respondent to a particular question
% percentage
Chi-square:
The chi-square statistical analysis was adopted. In this research to text
the hypothesis of this study
According to Ibekwe C.F. (2003:8) the formula for chi-square is
calculated as follows:
X2 = (0i – Ei)2
Ei
Where x2 = chi- square
= addition sign
0i = The observed frequency or the actual number occurring in the
category
Ei = the expected number occurring in the category.
NB ei = Row total x column total
Grand total

Decision rule
Two sets of figures are used – chi-square value (x 2 calculated) and the
critical value (x2 tabulated)

25
Thus:
Accept Ho and reject Hi when x2 calculates < x2 tabulated

Reject Ho and accept Hi when x2 calculated > x2 tabulated

26
 CHAPTER FOUR
PRESENTATION AND ANALYSIS OF DATA AND INTERPRETATION
OF RESULT
INTRODUCTION
According to Anyanwu (2000) data analysis deals with the conversion of
raw data into useable information.

This chapter shall deal with the analysis of data collected in the course of
this research work based on the findings from research conducted using
the response gotten from respondent. However, the analysis of data
collected form the questionnaire distributed and retrieved under this
study shall be carefully effected using the stated satisfied tools – simple
percentage and chi-square techniques. To this and this chapter
encompasses the presentation of the data collected from respondents in
the tabular form and then proceed with the analysis of these data using
simple percentage (%) and testing of hypothesis using chi square.

4.1 PRESENTATION OF DATA

Table I
Does advertising play a significant impact on the growth of small scale
business?
Table 4.1.
Respondents
Reponses Management employees Customers Total Percentage
Yes 20 6 4 30 71%
No 5 4 3 12 29%
Total 25 10 7 42 100%
Source: field survey 2010
From the table above, 30 (71%) opined that there is an impact of
advertising in the growth of small scale business while 12(29%) of the
rest are of the contrary.

Table 4.2.
Is the print media more useful than electronic media on the growth of
small scale business?
Reponses Management employees Customers Total Percentage
Yes 15 5 4 24 57.1%
No 10 5 3 18 42.9%
Total 25 10 7 42 100%

27
Source: field survey 2010
From the table above, 24(57.1%) respondent says that the print media
are more useful than electronic media on the growth of small scale
business while 18(42.9%) respondent were not in support of this
statement.

Table 4.3
Does the cost of advertising merits its use on the growth of small scale
business?
Reponses Management employees Customers Total Percentage
Yes 16 6 4 26 61.9%
No 9 4 3 16 38.1%
Total 25 10 7 42 100%

Source: field survey 2010

From the table above, 26(61.9%) respondent opined that the cost of
advertising merits its use of the growth of small scale business while
16(38.1%) respondent are of the contrary.
Table 4.4
Does advertising has a favourable effect on the business of standard
insurance company?
Reponses Management employees Customers Total Percentage
Yes 15 6 4 25 59.5%
No 10 4 3 17 40.5%
Total 25 10 7 42 100%
Source: field survey 2010
From the table above, 25(59.5%) respondents agreed that advertising
has a favourable effect that on the business of standard Insurance
company while 17 (40.5%) respondent disagreed on this statement.

4.2 ANALYSIS OF DATA

The information in table I shows that 30(71%) opined that there is an
impact of advertising in the growth of small scale business, while
12(29%) of the rest are of the contrary.

The implication of this is that there is an impact of advertising in the

growth of small scale business.

In table II shows that 24 (5.1%) respondent says that the print media
are more useful than electronic media on the growth of small scale
28
business, while 18 (42.9%) respondent were not in support of this
statement.

The implication of this is that the print media are more useful than
electronic media on the growth of small scale business.

The information in table III shows that 26(61.9%) respondent opined

that the cost of advertising merits its use on the growth of small scale
business, while 16(38.1%) respondent are of the contrary.

The implication of this is that the cost of advertising merits is use on the
growth of small scale business
In table iv above shows that 25(59.5%) of respondent agreed that
advertising have a favorable effect of the bsu8ienss of standard
Insurance Company, while 17(40.5%) of respondent disagree on this
statement.

The implication of this is that advertising have a favourable effect of the

business of Standard Insurance Company.

4.3 TEST OF HYPOTHESIS

In the course of this study, two hypothesis were formulated and tested
using chi-square (x2) statistics.
Chi-square formula
(0i – Ei)
Ei
Where Ei = row total x column total
Grand total

At the end, decision is taken whether to accept or to reject thus,

Accept Ho and reject Hi when x2 calculated < x2t tabulated.

Hypothesis one
The information in table I above, is used to test this hypothesis
Ho: advertising has no significant impact on the growth of small scale
business
Hi: Advertising has a significant impact on the growth of small scale
business

Table 4.1.
Reponses Management employees Customers Total Percentage
29
Yes 20 6 4 30 71%
No 5 4 3 12 29%
Total 25 10 7 42 100%

Computation of Ei = Rt x ct
Gt
(1) 30 x 25 = 17.8
42
(2) 30 x 10 = 7.1
42
(3) 30 x 7 = 5
42
(4) 12 x 25 = 7.1
42
(5) 12 x 10 = 2.8
42
(6) 12 x 7 = 2
42

0i Ei 0i - Ei (0i –ei)2 (0i – ei)2/ei

20 17.8 2.2 4.84 0.2719
6 7.1 -1.1 1.21 0.1704
4 5 -1 1 0.2
5 7.1 -66 4356 613.52
4 2.8 1.2 1.44 0.5142
3 2 1 1 0.5
Total 15.1765
T calculated = 15.1765
Degree of freedom
Df (r –1)(c – 1)
(2 – 1) (3 -1)
=1x2=2
Level of significant 95% (5%) = 0.05
T2 = 5.991
Decision
Since the t calculated x2 value Is greater than critical value, we reject Ho
(null & hypothesis) and accept (alternative hypothesis) this means that
advertising play a significant impact on the growth of small scale
business.
30
Hypothesis II
Ho: Print media is not useful than the electronic media for the growth of
small scale business.
Hi: print media is more useful than the electronic media of the growth of
small scale business.

Table 4.2
Reponses Management employees Customers Total Percentage
Yes 15 5 4 24 57.1%
No 10 5 3 18 42.9%
Total 25 10 7 42 100%
Computation of Ei = Rt x ct
Gt
(1) 24 x 25 = 14.2
42
(2) 24 x 10 = 5.7
42
(3) 24 x 7 = 4
42
(4) 18 x 25 = 10.7
42
(5) 18 x 10 = 4.2
42
(6) 18 x 7 = 63
42
0i Ei 0i - Ei (0i –ei)2 (0i – ei)2/ei
15 14.2 0.8 13.4 179.56
5 5.7 -0.7 5 25
40 4 36 -32 1024
10 10.7 0.7 10 100 T calculated = 1349.12
5 4.2 0.8 3.4 11.56 Degree of freedom
Df (r –1)(c – 1)
3 63 -60 3 9
(2 – 1) (3 -1)
Total 1349.12
=1x2=2
Level of significant 95%
(5%) = 0.05
T2 = 5.991
Decision
31
Since the t calculated x2 value is greater than critical value, we reject Ho
(null & hypothesis) and accept (alternative hypothesis) this means that
print media is more useful than the electronic media for the growth of
small scale business.
4.4 INTERPRETATION OF RESULTS
The information in table I above shows that, there is an impact of
advertising in the growth of small scale business, since the numbers that
responded positively is greater than the negative Reponses.
In table II above, says that the print media are more useful than
electronic media on the growth of small scale business.
Table III shows that the cost of advertising merits its use on the growth
of small scale business.

The information in table iv above shows that, advertising have a

favourable effect of the business of standard insurance company

32
 CHAPTER FIVE
5.0. SUMMARY, CONCLUSION AND RECOMMENDATION
5.1. SUMMARY OF THE FINDINGS
(1) The researcher observe that standard insurance company have
reduced the intensity of its adverting campaign. The company,
which used to be a major sponsor of a programme on radio, has
related itself to just another customer that makes its patronage
once in a while, the reason given for this is that, the company is
low on funds since it has just open a branch in Delta state.
(2) Also the manager believes that the advertising that has been
done in the past still has a carry over effect on the public. The
company advertises through electronic media merely. This will
affect or will not enable prospective customers in far way places
to be aware of their services.
(3) The company has open a new branch in Delta State without being
advertise. The company advertise in electronic media than the
print media.

5.2. CONCLUSION
The response could be numerous while the higher scores were obtained
in relation to the impact of advertising on the growth of small scale
business.

According to Candiff (1976) the important of advertising can be over

emphasized. One of the reason is that advertising helps a business to
present its status, scope and structure. The environment in which a
business organization performs its marketing function undergoes
constant changes in scope, structure and status. Every level of this
charge either challenges, encourages the survival and the growth of the
business consequent upon the opportunities and threats that emerges
there from. Another reason is that when there is more than one firm
producing the same product, composition ensure ad gradually hinters.
In this kind of situation there is the need to adversities a minimum
requirement for success is not just adopted to changes, but having
superiority over market advertising your products.

Another reasons why advertising play a significant impact on the growth

of small scale business, is that advertising is aimed at communicating
information about a business product, services and ideas, therefore,
stimulating demand, and thereby increasing profit of the business.

33
Advertising creates awareness in the mind of potential customers,
making them know what makes your products unique. It is the price the
product itself? The producer? Or what are the gains and advantages
from consuming your product. From the foregoing analysis as presented
in tables it can be seen that the four research question were accepted.

Research question I, which assumed that advertising does play a

significant impact on the growth of small scale business was accepted.
The means that a business that does not advertise it product or services
will not be growing because customers will not know that the have to
sell.

5.3. RECOMMENDATIONS
Standard insurance company is a young company in the industry. It
is hoped that the following recommendation if adhered to will have a
favourable effect on the business and will also transform small scale
business to better and greater heights.

The recommendation are as follows;

1. The company should increased its rate of advertising
campaign since the company is low on funds.
2. The company should increase its rate of advertising at this
time especially in Delta State, since it has opened a branch there.
This would create awareness in the minds of potential customers in
the area.
3. The company should exploit the television media and print
media to a greater extent especially the television media. It would be
better if the company advertising in more popular newspapers. This
will enable prospective customers in far way places to be aware of
their services and hence they may be contract.
4. Through the use of forums like seminars, government
enlightenment policies, the small scale business should be educated
enough to appreciate the usefulness and the benefit to be derived
form proper advertising management.

In this regard, it should be enhanced growth and promotion of their

organization positively upwards.

34
 REFERENCES
Ajike E.R. (1985) An introduction to business communication Uptake
Nigeria

American market Association (1989) manual (6th Edition) Boston

Washow, Lagos

Canditt, B.J. (1980) Advertising courtland

Courtland Press Fason W.F. (1981) Effectiveness of one sided and two
sided mass communication in advertising, England prentice
Hall London.

Cox A. and hangman R. (1994) Promotion strategy Homewood Richard

Inwin Publication, New York.

Daniel S. (1956) contemporary advertising.

Franbk J. (1992) Advertising made simple Allen Company Ltd London.

Jefkin T. Etal (1982) The effect of advertising in business New York.

Kotler M. (1984) Business management Mc shaw Ltd Britain

Liger Trych Ltd Kotler M. (1984) Business management Britain MC Stoaw

Ltd London

Peter F.C. (1990) Setting up a small scale business Migra Hill Press New
York.

Peter P. and Wardmen C. (1991) Statistics of business Macmillan press,

London

Stanton W. (1976) Advertising management Zach Public Publishers

Canada

Wayne, W.O. D. (1995) The marketing communication Process. MC Graw

Hill New York.

35
 APPENDIX
DEPARTMENT OF
MARKETING
FEDERAL POLYTECHNIC
NEKEDE
P.M.B. 1036, OWERRI,
IMO STATE

27th June, 2010.

The managing director,

Standard Insurance company
Aba.

Sir,

Permission to distribute questionnaire to staff of standard insurance

company

I am a final year student of the department of marketing in the above

named school. I am conducting a research on “The Impact of
Advertising on the growth of Small Scale business in Nigeria”.

The research is a requirement for the award of Higher National Diploma

(HND) certificate in Marketing. I am assuring you that every information
given will be use for academic purpose only and be treated in strict
confidence.

Thanks for your cooperation.

Yours faithfully,

Amadi Esther U.
(Researcher)

36
 QUESTIONNAIRES
SECTION A
Please tick in the box against your chosen option
1. What is is your sex: male female
2. How old are you? (a) 20 – 30 years (b) 31 – 40 years
(c) 41 – 50 years
3. What is your marital status? (a) Single (b) Married
4. what is your educational qualification? (a) Post graduate
(b) Non graduate (c) graduate (d) school certificate
5. What is your year of experience in the business (a) Below five year
(b) Five to ten years (c) above ten years
Section B
Research question 1
1. does advertising play a significant impact on the growth of small scale
business? (a) Yes (b)
2. Do you own any small scale business? (a) Yes (b) No
3. Do you work in any small scale business? (a) Yes No
4. Do you think that advertising has any impact to play in small scale
business? (a) Yes (b) No
5. Is there any difference between a business that advertise its product
and a business that does not advertise its product? (a) Yes (b)
No

SECTION C
Research question 2
Does the print media more useful than the electronic media on the
growth of small scale business? (a) Yes (b) No
Does standard Insurance Company advertise in electronic media? Yes
No
Do you think advertising in electronic media is better than advertising in
print media? Yes No
SECTION D
RESEARCH QUESTION 3
Does the cost of adverting merits its use on the growth of small scale
business?

Does it cost much to advertise? (a) Yes (b) No

Is it wide in the media? (a) Yes (b) No

37
Is there any increase in the number of client of standard insurance
company now that they advertise their produce? (a) Yes (b)
No

Do you think that standard insurance waste their money in advertising?

(a) Yes (b) No

Does the cost of advertising merits its use in growing business? (a) Yes
(b) No

SECTION E
Research question 4
Does advertising has a favourable effect on the customers who may not
be aware of the company? (a) Yes (b) No

Is standard Insurance company having more customers now that it

advertise than when it does not? Yes (b) No

Does standard Insurance Company make more profit now that it

advertise the company service? (a) Yes (b) No

Do you think that advertising have favouable effect on the business?

Yes No

38