Accounting | THE IMPACT OF ADVERTISING ON THE DEVELOPMENT OF THE MEDIA

THE IMPACT OF ADVERTISING ON THE DEVELOPMENT OF THE MEDIA

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THE IMPACT OF  ADVERTISING ON THE DEVELOPMENT OF THE  MEDIA

ABSTRACT

The research  focuses on the determination of the impact of advertising on the development of the media. It appraises the nature of advertising and the significant role it plays towards the development of the media.

1.1 BACKGROUND OF THE STUDY

·                    Advertising has been defined as “a powerful communication force and a vital marketing tool helping to sell goods and services, image and ideas…”(Wright1983:8).Advertising may also be seen as “a group of activities aiming at and including dissemination of information in any paid product or service to compel action in accordance with the intent of an identifiable sponsor.”(Doghudje 1985:8) .The advent of Advertising agencies like West African Publicity now known as Lowe Lintas, OBM, Grants, Admark which were established during the colonial days and were run by expatriates brought about a structure in the industry.

·                     After Nigeria’s independence in 1960, there was a break in the monopoly, which the foreign based agencies enjoyed with the advent of two indigenous advertising firms Insight Communications and Rosabel, which formed the bedrock of the clientele of Advertising agencies.

·                     Agencies such as Prima Garnet, Casesers and SO&U sprung up in the 90’s and changed the face of advertising due to their creative vibrancy. Sectoral groups such as Media Independent Practitioners Association of Nigeria (MIPAN) Advertisers Association of Nigeria (ADVAN), Outdoor Advertising Association of Nigeria (OAAN) emerged at this time also to protect the interest of the different stakeholders as advertising became an all commerce affair.

One prominent feature in Advertising on Nigeria Print media in the 21st century is the use of copy and visual hyperbole.

•       Advancement in technology, has enhanced colour and production quality that makes for an exciting print commercial.

•       There is a conscious effort to stir up the emotions of consumers as opposed to just telling them the rational benefit of the product or service.

•       Brands are associated with colours, a layout style and a visual persona that reflects the image perception they wish to convey.

•       The use of brand ambassadors. Summary Advertising is a marketing tool that creates awareness about products and services enough to compel people to purchase them. Whilst advertising of the 80s and 90s were quite conservative and rational, advertising in the 21st century has been more exciting because print houses also stepped up the game of their quality offering, therefore creating a formidable platform for creative advertising to be showcased.

However, the downside to this is because of the exaggerated style of advertising in this era, brands tend to overpromise and under deliver. There are standard organizations in place like APCON and ADVAN. To some extent they do a good job of managing the content allowed to reach the consumers. However because they are highly monetized, they compromise standards and allow things to slide.

Effect on Society

• Compulsive buying

• Young people who do not possess the purchasing power begin to crave for things they don’t necessarily need.

• Perception that every brand is a reflection of your personality, status or class.

• It has the power to alter the value system of a people.

The effects advertising has on society cannot be changed, as long as we keep selling goods and services and expect people to buy.

However, they can be managed. Until corruption in the nation of Nigeria is curbed standard organizations to a large extent will be compromised. However, practitioners must be the first gatekeepers of what they allow the society consume all in the name of Advertising. Media Houses as well should also be gatekeepers of what they allow agencies or marketers place on their media. Klepper, O. (1985) “Advertising and Development in Nigeria” Rodenrick, W. (1980) Advertising: What it is and How to do it.

CHAPTER 1

1.1      BACKGROUND OF THE STUDY

For mass media organizations to make money and to survive in the long run, they must have constant sources or streams of revenue. Revenues come from sales, and the various categories of sales of a service or manufacturing firm are known as revenue streams. While measuring and reporting revenue is the domain of accounting and finance departments in organizations, determining new sources or streams of revenue is the responsibility of top management, strategic planners, and marketing forecasters.

Competition is driving down advertising rates of broadcasting and print media. The number of channels and newspapers are increasing while there is no infrastructure to support the presence of these channels. The audience has a shorter span of attention and they are fragmenting. Under reporting of subscription fees have been a traditional problem and the advertising revenues are growing at slower rates every year. When faced with such a scenario broadcasters and print media are looking various avenues to increase revenues. Commercial may refer to: Advertising which is paid classified messages in newspapers, magazines, flyers, billboards, and paid announcements over radio and television to sell a product, item or service.

        Commercial broadcasting is the practice of airing radio and television advertisements for profit, Radio advertisement, paid announcements over the radio to sell a product, item or services. Television advertisement, paid announcements over the television to sell a product, item or services. The five new or alternative funding options for public broadcasting stations include: television advertising, radio advertising, retransmission consent fees, paid digital subscriptions and digital game publishing.

The 14 existing sources from which public broadcasting already draws include: merchandise licensing, digital online advertising, education and state government fee-for-service arrangements, events, renting donor lists to direct marketers, tower leasing, production services. Some of the major sources of revenue for broadcasting media are: Commercials, Sales of Air, time to Freelance Presenters, Donations, Grants and Sponsors.

The  research shall investigate the impact of advertising on the development of the media

1.2      STATEMENT OF THE PROBLEM

 

The problem confronting this research is to appraise the impact of advertising  on the development of  the media

1.3      RESEARCH QUESTION

1            What constitute the nature of  advertising?

2            What is the role of advertising  on the development of the media?

1.4      OBJECTIVE OF THE STUDY

1            TO appraise the nature of  advertising

2            To determine the impact of advertising on the media

1.5               SIGNIFICANCE    OF THE STUDY

1.     The study  shall  project the various dimensions in which advertising impacts on the development of the media

2.     It shall  serve a veritable source of information for advertising and media experts.

1.5      STATEMENT OF HYPOTHESIS

1            H0    Advertising is not significant

H1    Advertising is significant

2            H0    The impact of advertising  on the media is low

H1   The  impact of advertising on the media is high

3            H0    The development of the media is not  significant

H1    The development of the media is significant

1.7      SCOPE OF THE STUDY

The study shall  appraise the nature of advertising ,functions and the impact of advertising on the development of the media

1.8      DEFINITION OF TERMS

ADVERTISING:       Advertising has been defined as “a powerful communication force and a vital marketing tool helping to sell goods and services, image and ideas…”(Wright1983:8).Advertising may also be seen as “a group of activities aiming at and including dissemination of information in any paid product or service to compel action in accordance with the intent of an identifiable sponsor.”(Doghudje 1985:8)

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