IMPACT OF ADVERTISEMENT ON PHARMACEUTICAL PRODUCTS’ SALES TURNOVER IN AGBENI, IBADAN, NIGERIA

Abstract

This study examined the effects of advertisement on sales turnover. The purpose of this study was to determine the effectiveness of advertisement on total sales of selected traders in Agbeni market Ibadan. In order to do this, relevant recent literature was reviewed. The research design was survey research and structured questionnaire was used to elicit information from the respondents. Chi-square (X2) test was used to analyse the data collected. Two research hypotheses were formulated and tested. The population of the study consisted of marketing companies and wholesalers in Agbeni, Ibadan. The sample size of 100 respondents was randomly selected by giving all the population elements an equal opportunity of being selected. Structured questionnaires and interviews were used to elicit responses from the respondents. The questionnaires were personally administered and retrieved by the researcher. Results from the tests revealed that advertisement have significant effect on demand levels with p-value of 0.012. Another result also revealed that advertisement has a significant effect on consumer response to purchase with coefficient (r) 0.018. The study concluded that advertisement is vital to induce and stimulate consumers to increase purchases and thereby improve sales turnover. The researcher recommended that organisations should create separate functional area to specifically direct, control and monitor advertising activities due to its contribution to sales.