Assessment of the Application of Advertising Strategies for the Growth of Small and Medium Scale Enterprises in Benue and Nasarawa States

Abstract

This study on the Assessment of the Application of Advertising Strategies for the Growth of Small and Medium Scale Enterprises in Benue and Nasarawa States was carried out to examine the application of advertising strategies and the influence they have on the growth of small and medium scale enterprises in the two states. The study was anchored on Yale’s Persuasion Theory and the AIDA Model. The survey research method was adopted, using questionnaires as the data collection instrument. Data was generated from a sample of 792 respondents drawn from a total population of 2,760 registered SMEs in Benue and Nasarawa States. Findings showed that there is a high level of knowledge and awareness regarding the relevance and use of advertising strategies among SME managers in Benue and Nasarawa States. However, findings also showed that despite the high level of awareness, managers have been adopting only a few of the strategies. It was concluded that the marketing communication tools of advertising are only being moderately applied in fast-tracking the growth of SMEs in Benue and Nasarawa States. As a result, the positive impacts that could have accrued to SMEs in these states have not been as visible as one would expect. It was therefore recommended that managers of SMEs should increase their utilization of advertising strategies, building on their existing knowledge of their relevance and use, through deliberate budget allocations to ensure a holistic engagement with Integrated Marketing Communication Strategies.