Impact of Advertising on the Marketing of Forte Petroleum Product in Portharcourt: Study of Forte Petroleum Portharcourt, River State

Impact of Advertising on the Marketing of Forte Petroleum Product in Portharcourt: Study of Forte Petroleum Portharcourt, River State

CHAPTER ONE

OBJECTIVE OF THE STUDY

The specific objectives of the study are as follows:

To ascertain the extent of Forte petroleum Plc advertising message accessibility to their public.
To know whether the right advertising media were often used
To determine whether Forte petroleum advertising practice influence the opinion of their public in favour of Forte petroleum.
To ascertain whether Forte petroleum Plc advertising department is rated high in terms of its efficiency.
To find out if the public of Forte petroleum Plc consider their advertising practice as adequate.

CHAPTER TWO

REVIEW OF RELATED LITERATURE

The Perception of Marketing and Marketing Strategies

Marketing strategies and diplomacy are fretful with taking decisions on a number of issues that can influence common satisfaction of barter contact and interactions. Characteristically, marketers have a number of paraphernalia they use such as mega-marketing and the traditional marketing, in the midst of others. Marketing looks so uncomplicated to depict but tremendously complicated to put into practice. Marketing concepts have remained divergent to comprehend by organizational managers as some view it simple while others view it complex. The marketing concept has its variables of which some are tacit while others are progressive, in the attempt to achieve total quality management concerned with satisfying customers’ desires and requirements constructively. In other to achieve a proficient and successful marketing stratagem which can integrate pertinent proportions of the marketing model involves the natural tasks of choosing a market audience in which to maneuver and expand a well-organized and valuable marketing component permutation. Marketing contemplations put into practice has been stirring promptly into the overhaul business of oil and gas. In marketing strategy, corporeal produce and service might be a matter of prominence rather than of scenery or variety. Marketing is one of the outstanding and imperative natural functions which help to overhaul organizations to congregate their organizational challenges and to attain their set objectives and intent. Marketing tactics is a momentous dynamic vigor that make a distinction between the achievement of copious organizations, it is the proper planning of where, when, and how the organization will contend in other to accomplish the marketing strategy and assessment decisions reached. The suitable and successfully achieved marketing strategies are required to prolifically direct the operation of the restricted obtainable capital through the organization’s marketing capabilities in hunt of preferred aspirations and purpose. There are two concepts that form a good marketing strategy in terms of marketing strategy choice, marketing strategy assessment and execution. The choice makers are accountable for marketing strategy to select which accessible assets the organization should install, where to install them suitably in other to achieve the diverse aspirations and intents of the organization. Marketing strategies could be formal, top-down strategies or embryonic or inventiveness strategies. Organizational marketing strategies could be overt or inherent resolutions concerning goal scenery, objective market assortment, and location benefit to be trailed or instant accomplishment of organizational recital. Distinct strategic marketing intent are essential trait of marketing strategies in which managers must make choice about what the intent and precedence of the organization are, how to convert these intents and apparition of the organization into marketing-related purpose and principle.

CHAPTER THREE

RESEARCH METHODOLOGY

INTRODUCTION

In this chapter, we described the research procedure for this study. A research methodology is a research process adopted or employed to systematically and scientifically present the results of a study to the research audience viz. a vis, the study beneficiaries.

RESEARCH DESIGN

Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled. According to Singleton & Straits, (2009), Survey research can use quantitative research strategies (e.g., using questionnaires with numerically rated items), qualitative research strategies (e.g., using open-ended questions), or both strategies (i.e., mixed methods). As it is often used to describe and explore human behaviour, surveys are therefore frequently used in social and psychological research.

POPULATION OF THE STUDY

According to Udoyen (2019), a study population is a group of elements or individuals as the case may be, who share similar characteristics. These similar features can include location, gender, age, sex or specific interest. The emphasis on study population is that it constitute of individuals or elements that are homogeneous in description.

This study was carried to examine the impact of advertising on the marketing of forte petroleum product in Portharcourt. Forte oil staffs in Portharcourt form the population of the study.

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS

INTRODUCTION

This chapter presents the analysis of data derived through the questionnaire and key informant interview administered on the respondents in the study area. The analysis and interpretation were derived from the findings of the study. The data analysis depicts the simple frequency and percentage of the respondents as well as interpretation of the information gathered. A total of eighty (80) questionnaires were administered to respondents of which only seventy-seven (77) were returned and validated. This was due to irregular, incomplete and inappropriate responses to some questionnaire. For this study a total of 77 was validated for the analysis.

TEST OF HYPOTHESIS

HO¹: The level of Forte petroleum advertising message is not accessible to the public is unsatisfactory

HA¹: The level of Forte petroleum advertising message is accessible to the public is satisfactory

HO²: The advertising department of forte petroleum is not related high in terms of its efficiency

HA²: The advertising department of forte petroleum is related high in terms of its efficiency

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATION

Introduction

It is important to ascertain that the objective of this study was to ascertain Impact of advertising on the marketing of forte petroleum product in Portharcourt: study of forte petroleum Portharcourt, River state. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenge of advertising on the marketing of forte petroleum product in Portharcourt

Summary

This study was on Impact of advertising on the marketing of forte petroleum product in Portharcourt: study of forte petroleum Portharcourt, River state. Five objectives were raised which included: To ascertain the extent of Forte petroleum Plc advertising message accessibility to their public, to know whether the right advertising media were often used, to determine whether Forte petroleum advertising practice influence the opinion of their public in favour of Forte petroleum, to ascertain whether Forte petroleum Plc advertising department is rated high in terms of its efficiency and to find out if the public of Forte petroleum Plc consider their advertising practice as adequate. The study adopted a survey research design and conveniently enrolled 80 participants in the study. A total of 77 responses were received and validated from the enrolled participants where all respondents were drawn from forte oil staffs in Portharcourt. Hypothesis was tested using Chi-Square statistical tool (SPSS).

Conclusion

After data analysis, we had results that lead to our findings and the following are conclusions: advertising appeal strategies and its dimensions significantly relates with forte oil marketing in Portharcourt.

Recommendation

Oil marketing firms should improve their performance in the turbulent business environment and keen attention should be placed on emotional appeals as this has the highest positive relationship with customer loyalty. More also, continuous investment should be made on advertising as findings revealed that all its dimensions have a great impact on customer loyalty.

Oil is presently, the mainstay of the Nigerian economy, and it is interesting to know that emerging stakeholders in the sector will have great impact on macroeconomic stability, therefore Nigeria must insist on the maximization of national interest, most importantly for the economic benefit, as well as for the empowerment of the Nigerian consumers of petroleum and petrochemical products.
Nigeria, as petroleum resource owner, must find the common ground and the path to partnerships that would benefit all stakeholders in the oil and gas industry. The government is encouraged to use a pragmatic and cooperative approach to ensure a win- win situation for itself and its partners in energy production, distribution and consumption.
Federal Government must ensure that the Petroleum Industry Bill (PIB) respects existing commitments on which investments had already been made, because without the investors’ confidence, there may be no incentives to invest; therefore revisions to the petroleum fiscal and regulatory regime should not introduce multiple taxes, high royalties and remove incentives; if these impediments are introduced, oil and gas projects would not be economical for investors.
The challenges of low level of production capacity at the refineries and infrastructural bottlenecks that led to moving products by road rather than pipelines or railway; thus pushing up petroleum products prices should be addressed by all concerned stakeholders.

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