EFFECT OF MASS MEDIA ON MARKETING NEW PRODUCTS

 SOLD BY: Excellent Project| ATTRIBUTES: Title, Abstract, Chapter 1-5 and Appendices|FORMAT: Microsoft Word| PRICE: N3000| BUY NOW |DELIVERY TIME: Within 24hrs. For more details Chatt with us on WHATSAPP @ https://wa.me/2348055730284

EFFECT OF MASS MEDIA ON MARKETING NEW PRODUCTS

CHAPTER ONE

INTRODUCTION

1.1       Background of the Study

Globalisation as described by Hill (2009) is the shift towards a more integrated and interdependent world economy thereby merging historically distinct and separate national markets into one huge global marketplace. The Economic Intelligence Unit (2009) reported that during the recession which commenced in 2007, the global market place was affected by changes in exchange rates, inflation and consumer purchasing behaviour. These changes in the economy forced organisations to remodel business strategies in order to communicate their products and brand more effectively. Davis (2001) writes that one of an organisation’s most valuable assets is its brand and the introduction new products.

One of the most popular means of marketing new products is through the use of mass media which create product awareness, facilitates participation, openness, conversation, community and connectivity amongst users (Mayfield, 2008).

The development of a new product begins when the company finds and develops an idea about a new product. Many companies see their success in the presentation of new products; however, their supervision should be much higher considering that the presentation can prove to be dangerous because many new products can lead to failure after its launch. Therefore, the development of new products should go through several processes: generating ideas, reviewing these ideas, market evaluation of the idea, the product development, testing through marketing, and the commercialization process.

 In a research conducted by Cooper (2021), it is concluded that the main attributes that make the difference between new and successful products with unsuccessful ones are: the peculiarity or uniqueness of the product, sufficient information from the market, the dynamics of competitiveness in the market, market potential for product launch, marketing strategies, product price, novelties from companies, and the investment framework of the company. Besides this, a crucial part that plays in the success of new products is their quality and how they are introduced to the prospective customers or consumers through the use of mass media.

Mass media is the collection of tools of communication such as television, radio, newspapers and internet that are designed to reach a large number of people. In the current societies mass media cannot be separated with our lives because media and entertainment go hand in hand. Bryant and Miron (2004) further explain that mass media can be categorized media in three groups which are print media (newspapers and magazines), electronic media (television and radio) and new age media (mobile phones and internet).

Mass media is an important tool in advertising and has great power in influencing a bad or good perception to the targeted audience. This is because one of the major roles of advertising is to persuade and promote a product (Cohen, 1988). Mass media is that tool that enables an advert to reach, persuade and promote a product. Hence, the reason why this study has assessed the effect of mass media on marketing of new products.

1.2       Statement Of The Problem

Considering the dynamic market in which companies today operate, the development of new products and innovation is considered as vital factors within a company. Therefore, in order for companies to be successful in their market, they should constantly innovate in their operations and products such as providing new ideas in their products to the customers [8]. Also, Cooper alludes that besides technology strategies, successful companies produce innovative products. Both these components are led by the management team of the business who have a clear strategic vision [9]. While launching new products in the market they may face various challenges such as conditioned future, previous experience from customers, and user control, the use of mass media and their active search. This is also one of the main reasons why new products should be prioritized since customers will be able to share their experience with the product with other potential customers. In recent years, mass media platforms such as print media, electronic media and the social such as Facebook, Instagram, LinkedIn, etc., have enabled users to spread information at a rapid pace. Many applications of such media have affected businesses in making changes in various processes, such as new product development, marketing processes, services to customers, sales, etc. Thus this study is an attempt to examine the effect of mass media on marketing of new products.

1.3       Objective of the study

The general objective of this study is to examine the effect of mass media on marketing new products.

This study was designed to find out

1. To find out which medium serves best in the marketing of new product
2. To find if mass media advertising has any effect on the choice of new products by costumers.
3. To find the effects of mass media on marketing of new products.

1.4       Research Questions

1. Which medium is best for mass media advertising that serve best in the marketing of new product.
2. Does mass media advertising have any effect the choice of new products by costumers?
3. What are the effects of mass media on the marketing of new products?

1.5       Significance of the Study

This study is very apt as scholars and theorists alike are always interested in new source of knowledge. This work will be of immense advantage to advertising practitioners old and new, tutors, students, marketers and integrated marketing communicators as well as to explorative readers from every field.

The researchers hope ardently that the richness of this work would enlighten manufacturing companies to know the effects of mass media on marketing of new products. This study will also be a guide to the manufacturers and advertisers in scheduling their media plan as it would evaluate patterns of brand advertising through mass media, and possibly ascertain the degree of exposure enough to create disposition for purchase of new products by customers.

The result will enable policy makers in Nigeria to understand the effect of mass mediate on marketing new products as it will serves as a patterns of new product advertising and will enable policy makers to appreciate the reason(s) for differential disposition of consumers resulting from their varying levels of exposure to a brands advertisement.

1.6       Scope of the Study

The scope of this study is limited to the effect of mass media on marketing of new products. The scope is further limited to Nigeria Bottling Company.

1.7       Statement of Hypothesis

            H0: Mass media has no significant effect on marketing of new product

            H1: Mass media has significant effect on marketing of new product

1.8       Definition of Terms

The following terms and phrases are repeated throughout the research study.

• Mass Media: Mass media refers to a diverse array of media technologies that reach a large audience via mass communication.
• Marketing: Marketing is the management process through which goods and services move from concept to the customer.
• Marketing mix: Marketing mix is a planned mix of the controllable elements of a product’s marketing plan commonly termed as 4Ps: product, price, place, and promotion. The new marketing mix is commonly termed as the 7P’s and includes people, process and physical evidence.
• Marketing management: Marketing management is a process of identifying, anticipating and satisfying consumer requirements. This involves tracking and reviewing an organisation’s marketing resources and activities.
• New Product: New products’ can be defined as a products that an organization have never made or sold before but have been taken to market by othersproduct innovations created and brought to the market for the first time.
• New Product Development:New product development (NPD) is the process of converting an untried idea into a winning product.

 SOLD BY: Excellent Project| ATTRIBUTES: Title, Abstract, Chapter 1-5 and Appendices|FORMAT: Microsoft Word| PRICE: N3000| BUY NOW |DELIVERY TIME: Within 24hrs. For more details Chatt with us on WHATSAPP @ https://wa.me/2348055730284