EFFECT OF PROMOTIONAL MIX STRATEGIES ON SALES OF NEW PRODUCT (CASE STUDY OF UNILEVER PLC, IKEJA, LAGOS STATE)

This study focused on effect of promotional mix strategies on sales of new product with reference to Unilever Plc, Ikeja, Lagos State. Promotional mix strategies refer to the combination of various marketing tactics and tools that a company uses to promote its products or services effectively. The objective of the study is to find out the effect of advertising on the sale of new products, to examine the effect of sales promotion on sales of new product and to find out the effect of personal selling on sales of new product. The population comprises of (75) management, staff and members of staff of marketing department of Unilever Plc, Ikeja, Lagos State. The study used stratified techniques for sampling. And the minimum sample of 75 members of staff was drawn from the entire members of the organization. Chi-square was used to test for the hypotheses. The findings revealed that advertising as a tool of marketing for communicating ideas and information about goods and services to an identified group, which employs paid space or time in the media or uses another communication vehicle to carry its message. It was concluded that well-balanced promotional mix ensures that marketing efforts are aligned with business objectives while maximizing reach across various consumer segments. It was recommended that the Unilever Plc should make an effective campaign that will lead to greater brand awareness, which translates into more conversion as satisfied customers will recommend the brand to others since is the ultimate goal of advertising to often drive sales and increase revenue for businesses.