Report Essay Example | Topics and Well Written Essays - 1750 words - 5

Report - Essay Example With this concern, the report intends to examine the measures that can be used for reviewing the performance of Tesco. In this regard, various performance measures relating to finance along with resource, customer satisfaction indicators and innovation along with market development will be discussed. Gross along with net profit margin and market share acts as effective financial along with resource based performance measures, through which the overall performance of the companies such as Tesco can be determined. Theoretically, the net profit margin depicts the ability of the management to control and meet the needs of indirect costs. It also reveals the suitability of businesses to perform effectively in future. In this regard, the net profit margin should be higher in order to depict a better future profitability and performance index (Needham & Dransfield, 2000). For instance, the financial performance of Tesco can be determined or measured with the assistance of certain financial statements that prepare by the company on an annual basis. It has been apparently noted that the company prepares different financial statements in order to measure the performance of the Group in a suitable manner (Tesco PLC, 2013). In this regard, it can be apparently observed that the net margin o f the company decreased substantially in the year 2013 as compared to the year 2012. This can be justified with the help of the following table. As per the above table, it can be clearly understood that the gross margin of Tesco declined in the year 2012 as compared to the year 2013 due to excessive costs incurred by the company while selling it various products or services to the worldwide customers. It is worth mentioning that the financial as well as the resource performance of the company can also be evaluated based on market share. It is obvious that a company

The Civil War Essay Example for Free

The Civil War Essay After the Civil War, the South was solidly and reliably Democratic for a full century. In large part, this was a reaction to Lincoln, who most southerners saw as a tyrant and an aggressor. Since Lincoln was the first Republican president in American history, it was guaranteed that the Republican Party would be widely unpopular in the South. In the mind of the South, the Civil War was not about slavery, but about the right of southern states to have large amounts of independence from the federal government in Washington. After the Civil War, southerners saw the Republicans as the party of â€Å"big government† or â€Å"centralized power†, who cared little for the autonomy of individual states within the union. After the Civil War, the Republican Party forced white southerners to allow newly-freed black to exercise their constitutional rights by voting, running for office, and serving in local governments. This caused further resentment for the Republican Party by southern whites. The Democratic Party, on the other hand, allowed white supremacy to return to the South after Reconstruction ended. It portrayed itself as the party of states’ rights, as opposed to the overbearing and domineering Republicans. The southern shift away from the Democratic Party was largely a result of the civil rights movement of the 1950’s and 1960’s. Many southerners saw blacks not as Americans simply demanding their constitutionally-guaranteed rights, but rather as troublemakers, perhaps backed by the communist party. As the moral clarity and the inevitably triumph of the civil rights movement became clear to increasing numbers of Americans, the federal government was forced to act. After all, the protestors were demanding nothing radical; they simply wanted the federal government to guarantee that no state could deprive a citizen of his or her civil rights. Due more to coincidence than anything else, a Democrat was President when these issues came to a head. It was Lyndon Johnson, a southern Democrat, who signed the Civil Rights Act and Voting Rights Act in the mid-1960’s. Southerners felt betrayed by these actions. To them, these acts were further examples of the federal government dictating from Washington how individual states should run their affairs. The South’s argument had little or no constitutional merit, but great emotional weight. When soldiers protected black children who were attending newly-integrated schools, for example, many southerners felt it was the Civil War all over again; the prosperous and arrogant North was enforcing its own values on the South. Due to these feelings of betrayal, vast numbers of Southerners switched to the Republican Party, and they did so rapidly. Richard Nixon was the first to exploit the â€Å"southern strategy†, using thinly-veiled racist paranoia to convince southerners that the Democratic Party had sold them out. Nixon convinced the conservative South that law and order was threatened by the Democrats’ big-government excesses, as protests and race riots raged throughout the nation. Almost overnight in political terms, this shift of allegiance took hold and Nixon achieved what had been unthinkable for a century; he was a Republican who won the presidency in large part due to southern support. This trend has held solidly for the last forty years. While southerners are no longer overtly racist, they still point to culturally conservative values, small government, and states’ rights as the reasons for their once- unimaginable shift to the Republican Party.

Reflection Paper: Socialization and Self-Identity

Reflection Paper: Socialization and Self-Identity Introduction I grew up in an average middle class family, whereby I attended a public primary school during early years of my life. Life was quite simple in primary school because almost all pupils were friendly and there were no social divisions both in class and outside. However, life was different when I went to high school, with the existence of a caste system that drew distinct boundaries between the middle class students who were well behaved and the lower class students associated with rudeness and truancy. Socialization in Relation to Self Identity According to Styker (1980), sociological approach to self identity is based on assumption of an existence of a relationship between oneself and the society, whereby the self influences the society through individual actions thus creating groups, networks and institutions. Likewise, the society influences self through shared meanings and language that enable someone to engage in social interactions and reflect upon himself/herself as an object. My primary school life was greatly shaped by society within a conducive environment that never encouraged social divisions among pupils but embraced a unified community, where everyone seemed to conform to norms and regulations of the school. This is further supported by social identity theory that emphasizes on identity as being embedded in a social group or category rather than role behavior (Turner, Hogg, Oakes, Reicher, Wetherell 1987). Life in high school was quite different from that of primary school as I had to identify with either the middle class students who conformed to school regulations or identify with the lower class students, who were truant, rude and cared less about school rules and regulations. This called for need to reflect, evaluate and plan accordingly in order to bring out my future state and achieve consciousness with respect to my own existence in school. Initially, I was torn between the two cliques of students because much as I desired to perform well in school, I also wanted to drink, smoke and do the crazy things that teenagers do. After critical self evaluation, I found myself striking a balance between the two sets of students and had two different sets of social lives. I could occasionally identify with the middle class students who were well behaved when I needed to study and equally strike a balance in being popular with the truant group, especially when I needed to smoke, drink and m isbehave. Such decision came after some crisis (Mercia 2008). According to Marcias identity status theory, ones sense of identity is largely determined by choices and commitments made in respect to personal and social traits. Focusing on adolescent development, Mercia (2008) points out that adolescent stage consists neither of identity resolution nor identity confusion, but rather the degree to which one has explored and committed to an identity in a variety of life domains from education, religion, relational choices and gender roles among others. Marcias theory of identity achievement argues that two distinct parts form an adolescents identity, namely; crisis and commitment. He defined a crisis as a time of upheaval where old values or choices are being reexamined and further argues that the end outcome of a crisis leads to a commitment made to a certain role or value. Living comfortably with the two sets of students explains the notion that there are as many different selves as there are different positions that one holds in society as well as to different groups responding to self (James 1890). This brings out my overall self that has multiple identities, with each identity being tied to aspects of the social structure (Burke 1980). When associating with the truant group of students, the only things we did and discussed were those relevant to the group such as planning how to misbehave, where to drink, smoke and do other things that were against school rules. On the other hand, identifying with disciplined group of students restricted me to discuss and do things that were relevant to identity of the group such as class assignments and group discussions. This boosted my psychological well being as well as social skills that enabled me to fit well in school society as supported by Thoits (2001), who argues that greater psychological well- being all ows individuals to actively acquire multiple role identities over time. Furthermore research has proved that making roles and accumulating role identities equally fosters greater psychological well being. Being able to identify and associate with two sets of students in high school can be attributed to identity theory. Stryker (1980) describes identity theory as a micro- sociological theory that links self attitudes or identities to the role- related behavior of individuals. It takes into account individual role relationships and identity variability, motivation and differentiation. This implies that my behavior in any of the two groups was dependant on shared responses and behavioral expectations emerging from social interactions. Exchange theory further supports my interaction with two sets of students as it views commitment as being influenced by repeated exchange agreement, which generate emotional connection among group members in the form of satisfaction (Lawler Yoon 1996). Socialization in Relation to Academic Performance Ability to identify with the disciplined set of students gave me satisfaction, both academically and psychologically as learning requires diligence and obedience, qualities that are widely associated with feminists. On the other hand, associating with truant group of students gave me the excitement and drive to enjoy my teenage life as well as performance of masculinity, which is associated with the highest social status in state schooling environment, a status that I could only achieve through identifying with truant group of students (Fine 2003 Renold 2006). I was an extrovert, popular with my peers and a high academic achiever. Friends were my most enjoyable aspect of school and I accentuated communication and relationships with friends, while maintaining good heterosexual relationships that invested more in emotional instead of physical aspects of the relationships within the two sets of friends. Research has shown that high achievement in class does not necessarily constitute classroom isolation and unpopularity, thus students identified as high achieving are equally popular. Based on this observation, it can be argued that high academic achievement is not impending the popularity of a student and the sociability of a student may indicate that strong social skills contribute to high academic achievement as was my case (Jackson, 2006). Francis, Skelton Read (2010) indicate in their research that sociability of students results to increased levels of confidence for boys and girls regardless of their social class, pointing out that high performing students are often highly aware of their high academic achievement and this achievement awareness preoccupation delineates the notion of giftedness. I was able to excel academically because I was comfortable with my perceived high academic ability and I never underestimated my achievement in relation to my peers, unlike what most girls do. Being vividly aware of my own authenticity, I managed to construct my popularity based on my intrinsic merit factors such as friendliness, sociability and kindness. I was actively engaged in class work and worked hard, completing all assignments even in challenging conditions. Furthermore, I was an enthusiastic participant in class and was always ready to execute given tasks during classes. I was in good terms with teachers and this added value to my performance of attitude. My talks and actions frequently dominated during my days in high school as I was loud, assertive and at the center of events, unlike my low achieving and less popular peers, who were more extrinsic and obsessed with factors such as good looks. I however considered myself good looking and fashionable in appearance during those days. My physical attractiveness and stylish clothing enhanced my classroom relationships and contributed greatly in bringing a balance between my popularity and academic achievement. This i s in agreement with Butler (1993) and Kehily (2006) who indicate that physical appearance facilitates and contributes to sociability, confidence and sometimes academic excellence. My performance enhancing qualities are in agreement with self categorization theory that describes how people define themselves at group level as well as at an individual level, considering group and individual identities to be different levels of self categorization and more distinct from each other as opposed to social identity theory (Hogg and Terry 2000). Employing this theory gave me an opportunity to have unlimited range of identities based on context and convenience to achieve desired objectives based on targeted achievement with any particular kind of behavior. In their contribution to social identity theories, Lucey and Reay (2002) observe that academic success and excellence cannot exist without failure, supporting the fact that some students must be marked as failures for others to be identified as successful. This explains my academic excellence and equally explains poor performance for some of my peers. Conclusion Human beings are social beings and need each other to coexist, a fact supported by the existence of social theories of identity, which explain personal, interpersonal as well as group relationships. As a teenager and a student, social theories of identity worked to my advantage as I managed to strike a balance between different categories of social groups in favor of my performance and social life. I lived well in high school because I could use social theories to manipulate situations for the sake of a peaceful and harmonious existence, while at the same time quenching my curiosity for exciting teenage experience. If well used, social theories can bring success to ones academic performance and fruitful relationships that support peaceful coexistence within a given society.

The Catcher In The Rye :: essays research papers

'If you really want to know the truth, I felt sorry for the bastard.';(54) This is just one of the colorful lines that is often repeated in J.D. Salinger's The Catcher In The Rye. When the book was first released, it was considered highly controversial for its time. Many people tried to ban the reading of the book in schools. Although The Catcher In The Rye has very colorful dialogue, and deals with crude topics, it still sells over 200,000 copies annually. This is why.   Ã‚  Ã‚  Ã‚  Ã‚  Holden Caulfield is the main character in the story. The entire story is a reflection by Holden while he is staying in a mental hospital. His story begins at a private school, called Pencey. Holden has been recently kicked out of the school for lack of effort and for poor grades. Holden dislikes everybody at the school, mainly because they are ignorant and conceded. Christmas break is coming up and Holden has to wait until then to permanently leave the school. Then one night, Holden gets into a fight with his roommate. He gets so upset that he can't stand staying there anymore. In the middle of the night, Holden packs all of his belongings and heads for his hometown, New York.   Ã‚  Ã‚  Ã‚  Ã‚  The rest of the story takes place in the city, where the reader starts to see Holden's bad habits. Holden needs a place to stay because he can't go home, yet. The reason for this is because his parents have not yet found out about their son's expulsion. So Holden decides to stay in a low-class hotel. While in the hotel, Holden decides to go down to the bar. He meets three older women and 'chews the fat'; with them for a while. They soon leave and Holden is now very lonely. On his way back up to his room, Holden meets a pimp and then buys a prostitute. Once the prostitute is in his room, Holden gets an odd feeling. The more he looks at the prostitute, the more depressed he becomes. So he tells her to leave. Soon, there is a knock on his door. It is the pimp and the prostitute. She said that Holden did not pay her enough money. Holden refuses to pay the money that the prostitute says he owes her, so the pimp roughs up Holden. It is now evident that Holden is sufferi ng extreme depression.

Tribes of India :: essays research papers

Indian Tribes : Among the 68 million citizens of India who are members of tribal groups, the Indian tribal religious concepts, terminologies, and practices are as varied as the hundreds of tribes, but members of these groups have one thing in common: they are under constant pressure from the major organized religions. Some of this pressure is intentional, as outside missionaries work among tribal groups to gain converts. Most of the pressure, however, comes from the process of integration within a national political and economic system that brings tribes into increasing contact with other groups and different, prestigious belief systems. In general, those tribes that remain geographically isolated in desert, hill, and forest regions or on islands are able to retain their traditional cultures and religions longer. Those tribes that make the transition away from hunting and gathering and toward sedentary agriculture, usually as low-status laborers, find their ancient religious forms in decay and their place filled by practices of Hinduism, Islam, Christianity, or Buddhism. One of the most studied tribal religions is that of the Santal of Orissa, Bihar, and West Bengal, one of the largest tribes in India, having a population estimated at 4.2 million. According to the 1991 census, however, only 23,645 people listed Santal as their religious belief. According to the Santal religion, the supreme deity, who ultimately controls the entire universe, is Thakurji. The weight of belief, however, falls on a court of spirits (bonga ), who handle different aspects of the world and who must be placated with prayers and offerings in order to ward off evil influences. These spirits operate at the village, household, ancestor, and subclan level, along with evil spirits that cause disease, and can inhabit village boundaries, mountains, water, tigers, and the forest. A characteristic feature of the Santal village is a sacred grove on the edge of the settlement where many spirits live and where a series of annual festivals take place. The most important spirit is Maran Buru (Great Mountain), who is invoked whenever offerings are made and who instructed the first Santals in sex and brewing of rice beer. Maran Buru's consort is the benevolent Jaher Era (Lady of the Grove). A yearly round of rituals connected with the agricultural cycle, along with life-cycle rituals for birth, marriage and burial at death, involves petitions to the spirits and offerings that include the sacrifice of animals, usually birds. Religious leaders are male specialists in medical cures who practice divination and witchcraft.

Brown versus Board of Education Essay -- Race Segregation

Imagine that your walk to school lasts longer that sixty minutes even though a school is five minutes away. When you finally get there, you enter a shack with makeshift tables and a dirt floor. You do not get paper or writing utensils and you surely do not get good books. Your teacher, who did not even finish her education, hands you a book that another school determined outdated and tossed away. But on one glorious day, May 17, 1954, a promise of change is made. The Supreme Court gave you the right to attend that school at the end of your block, a previously designated white school (Rodgers 1). The next day you and your parents wear nice clothes and walk down the street to the school to enroll for the following school year. You get there and stand proud of yourself and of your new school as you move towards the Dean’s office. You are confronted with terrifying looks of disgust from your white counterparts as they deny you admission based on the color of your skin. Un fortunately, for many African Americans, this was a reality in the years following the Brown versus Board of Education decision (Stephan 19). Although we have made considerable progress since then, our job is far from finished. When examining statistics on testing scores, the quality of schools with African Americans making the majority, on housing segregation and white flight, it quickly becomes apparent that whites and blacks have different numbers. This is due primarily to the ongoing perspective that black people are inferior to them dating back to the pre-emancipation period. Even at the fiftieth anniversary of the infamous Brown versus Board of Education decision, discrepancies between the races remain prevalent. Oliver L. Brown painstakingly wat... ...earch/reseg04/brown50.pdf>. Orfield, Gary, Daniel Iosen, Johanna Wald, and Christopher B. Swanson. â€Å"Losing our Future: How Minority Youths are being Left Behind by the Graduation Rate Crisis.† The Civil Rights Project. 25 Feb. 2004 . Rogers, Frederick A. The Black High School and Its Community. Massachusetts: Lexington Books, 1975. Stephan, Walter G., and Joe R. Feagin, eds. School Desegregation: Past, Present, and Future. New York: Plenum Press, 1980. Toppo, Greg. â€Å"Integrated Schools Still a Dream 50 Years Later.† USA Today 28 Apr. 2004. United States. Bureau of the Census. Historical Income Tables. Washington: GPO, 2001. Yamasaki, Mitch. â€Å"Using Rock ‘N’ Roll to Teach the History of Post-World War II America.† The History Teacher 29.2 (1996): 179-193.

The Effects of Advertising Media on Sales of Insurance Products: a Developing-Country Case

The effects of advertising media on sales of insurance products: a developing-country case S. A. Aduloju Department of Insurance and Actuarial Science, University of Lagos, Lagos, Nigeria A. O. Odugbesan Formerly of Department of Business Administration, University of Lagos, Lagos, Nigeria, and S. A. Oke Department of Mechanical Engineering, University of Lagos, Lagos, Nigeria Abstract Purpose – Characterized by declining goodwill and exemplified sharp drop in gross premium, the Nigerian insurance industry, in recent times, has experienced turbulent economic challenges that necessitated re-engineering of its core activities.However, advertising and sales are core activities, which are important predictors of stability and growth in the insurance industry. Consequently, the purpose of this paper is to examine the impact of advertising on sales of insurance products. Design/methodology/approach – An empirical investigation is carried out using a survey that utilizes quest ionnaires, interviews, and field observation as major research instruments. A total of 71 insurance companies in Nigeria, which represent the total operating insurance companies in Nigeria at the time of study, were surveyed.With 100 scientifically selected subjects sampled, descriptive analysis was employed to understand the relationship and the strength of such relationships. Findings – It was found that advertising had effects on sales volume and improved public image. However, the choice of advertising medium, the message, and the format are critical ingredients of a successful advertising program in the insurance industry. Research limitations/implications – The insurance industry in Nigeria was studied from a holistic viewpoint due to the need to present reliable and detailed information for decision makers.However, limitation in achieving this relates to the reluctance of respondents to release information for the study. Practical implications – The impli cation of this research is that proper control of advertisement budget vis-a` -vis the expected sales volume could be made. Thus, organizations could spend budgets more effectively on growth enhancing projects instead of excessive wastage of funds on advertisement. Originality/value – This paper seems to be the first original work that concerns the impact of advertising on sales in the Nigerian insurance industry.As such, it bridges a gap that is opened for investigations. It may be of great value to decision making seeking for control tools. Keywords Insurance, Nigeria, Advertising media, Sales management Paper type Research paper 1. Introduction Over the years, there has been tremendous decline in the goodwill of the Nigerian insurance industry as a result of poor performance in the payment of insurance claims. The sharp drop in gross premium exemplifies this problem. Randle (2003) estimated a decline of more than 89. 4 percent in the 1999/2000 comparative periods.This decl ine may have worsened as a result of the global economic crisis. There is therefore the need to advertise insurance products in order to increase sales. Unfortunately, no reliable records exist on the impact of advertising on sales of insurance products, thus suggesting its strong need. The need to examine the impacts of advertising on sales volume is further strengthened by the significant value of the total premiums generated in Africa, which originated in South Africa (84 percent) while only an insignificant value (16 percent) is partly contributed by Nigeria.Thus, with the enormous advertising expenditures, it becomes necessary to know if such expenditures justify sales volume obtainable from the advertisement efforts. Luo and Donthu (2005) identified advertising media and spending inefficiencies in generating sales, and concluded that top 100 marketers’ advertising spending in print, broadcast, and outdoor media are not efficient and could bring in 20 percent more sales. Sadly, the case relating to insurance products was not treated. Also, there is a strong need for understanding the impacts of advertising on sales volume.Furthermore, although empirical evidence in major markets of the world shares a significant relationship between advertisement and sales volume, there is no reliable data and information on the subject in developing countries such as Nigeria. The absence of this information provides a wide gap and poor understanding on the effectiveness of advertisement on sales. The purpose of the study is to investigate the impact of advertising on the sales of insurance products. Advertising ranks among the major tools of promotion in general and awareness in particular.The study investigates if there are good advertising opportunities insurance industry can make use of, and examine the various advertising media commonly used by the insurers with particular reference to Nigeria. How would the customers know that a particular product will satisf y some needs unless such is communicated to them? As a pivot of economic development, insurance certainly has a major role to play. The issue now is that the sector performance is far below expectation. An important question is why?Is there any inherent difficulty in growing and promoting this business in developing world? Very many factors have been put forward for this performance, and it should be mentioned that it is not the intention of this study to discuss them. It is important, however, to find out the effectiveness of the choice of advertising media on the sales volume of insurance organizations. A study of this nature may prove to be of immense benefit to industry managers on how to make positive impression about their business and product given the dynamic nature of our socio economic environment.Past studies reveal a fairly strong relationship between advertising investments and sales. Twedt and Knitter (1964) observed some relationships between larger investments in pri nt media and profits. Sturgess and Young (1981) identified the direct relationship between sales and advertising expenditures as more relevant to a company’s performance variables than any other test of communication effectiveness of advertising. Perreault and McCarthy (2000) admit that one of the methods of measuring advertising effects is to evaluate sales.Schultz and Wittink (1976) revealed that although some studies have reported a positive influence of primary advertising on primary demand, no conclusive empirical evidence has been brought to bear on the major premise. It is therefore the goal of the current work to bridge this important gap. The effects of advertising media JRF 10,3 The paper is sectioned into the following: introduction, methodology, data analysis, and conclusion. The introduction provides an insight into the significance of the problem and the need to bridge the knowledge gap.Section 2 presents the methodology, which provides the framework for the pre sented study. In Section 3, data analysis is presented based on the results of the survey instruments. Section 4, the final section, provides concluding remarks. 2. Methodology The aim of this research is to carry out an empirical investigation of the extent to which advertising affects sales. This is a survey research whose objectives are to find answers to the following research questions, and test the relevant hypotheses. This section presents the methodological approach adopted to gather relevant data necessary for this study. . 1 Study population, sampling design, and research instrument The Nigerian Insurance Digest, 2006 indicates that there were 96 insurance companies operating in Nigeria as at December 31, 2006. No available records confirm that new companies have been formed since, except for the issues of mergers and acquisitions that characterized the recapitalization/consolidation exercise. A total of 71 companies have since emerged from this exercise. The study populat ion embraced all the staff engaging in marketing, public relations, and advertising in these 71 insurance companies.Most of these companies are direct insurers since they deal directly with the members of the public. Reinsurance companies, though, also engage in advertising activities, were excluded from this study because their impact or contact with the members of the public is indirect. Since it would not be feasible to contact all the staff that represents the population for the study, sampling method was used, and the study was limited to Lagos state, the commercial center of Nigeria. A sample of 100 subjects selected from some insurance companies in Lagos was used.The sampling method was used to avoid bias in the selection procedure, and to achieve maximum precision for a given outlay of resources. Essentially, two research instruments were used: questionnaire and interview. For the questionnaire, 100 copies were distributed to respondents selected from various insurance compa nies in Lagos, Nigeria. In order to ensure high response ratio, the questionnaires were administered personally. To achieve this a number of contacts have been made to the management of those companies soliciting for their cooperation.Also, diligent care was exercised to avoid ambiguity in drafting the questionnaire. Personal interview was conducted with selected executives in the insurance companies (Dillion et al. , 1994). The face-to-face contact with respondents assisted in obtaining high quality data since more information is communicated between human beings communicating directly with each other than using other means. 2. 2 Method of data analysis The research proposed to use such descriptive statistics as simple percentages to compute the data obtained.For hypothesis testing, coefficient of correlation would be employed. Lucey (2002) highlights the benefits of using correlation coefficient when trying to analyze independent and dependent variables in order to understand the relationship between them. The correlation coefficient reveals the strength of such The effects of relationships. advertising media 2. 3 Restatement of research questions The research questions are as follows: RQ1. Is a company’s failure to use advertising a result of lack of good advertising opportunities?RQ2. Do the results of other promotional tools affect the use of advertising? RQ3. Is the use of advertising dependent on the measurability of its results? RQ4. Is there any relationship between advertising expenditure and sales figure? 2. 4 Research hypotheses The hypotheses stated will be used to test the relationship between sales figures and advertising figures (Asika, 2006). The statistical procedure is to state the null hypothesis (H0), which is to be followed by the alternative hypothesis (H1).While a H0 is a statement that no change has occurred from the condition specified, the H1 is a reversal of a H0. Thus, if in hypothesis testing, a H0 is rejected, then, the H1 will be accepted: H0. There is no relationship between advertising expenditure and sales figure. H1. There is a relationship between advertising expenditure and sales figure. 2. 5 Research design The research uses explorative research design in order to gain insights into the subject studied. The research design is that of descriptive survey.It is meant to assess the importance attached to advertisement by insurance organizations. Specifically, the research design would reveal availability of good advertising opportunities for insurance firms, factors affecting a firm’s decision to use advertising, relationship between advertising and company’s performance in terms of sales volume, and justification of advertising expenditure, using profit as the bottom line. 3. Data analysis In Section 2, it was mentioned that empirical investigation would be carried out on the extent to which the choice of advertising medium affects sales.The summaries of the results of the survey q uestions, and how these answer the stated research questions are presented in this Section 3. In fact, we will like to find out whether a company’s failure to use advertising is a result of lack of advertising opportunities, whether the use of advertising is dependent on the measurability of its results, and whether there is any relationship between advertising expenditure and sales figure. These results also attempt to seek support for the hypothesis stated. 3. 1 Response rate and respondents’ characteristicsA total of 100 copies of the questionnaire were distributed to respondents. The challenges of recapitalization in the insurance industry, and subsequent rearrangements including the necessary formalities made the task of getting JRF 10,3 audience difficult. A total of 84 questionnaires were collected out of which two were found unusable for the purpose of analysis. The response rate of 48 percent was thus achieved. The results were analyzed with the use of the fol lowing statistical procedures: (1) the frequency distribution of some parameters; (2) the percentages of the parameters studied; and 3) bar charts were also used for further illustration of some of the results obtained. The first five questions of the questionnaire deal with the characteristics of the respondents, specifically their bio data. These are presented in Table I. Out of the 82 respondents analyzed, 50 are males while 32 are females. The sample members were conveniently selected at random, rather than based on quota. Since 61 percent of the respondents are males and 39 percent are females, should one conclude that 61 percent of the workforce in the insurance industry is male and 39 percent female?This is an interesting possibility due to the fact that a good number of females prefer to be self-employed in order to care for their home responsibilities. From Table II, majority of the respondents are 40 years and below, an overwhelming 89 percent (i. e. 44 percent for below 3 0 years, and 45 percent for age bracket 31-40). About 11 percent of the respondents are above the age 41, while none of the respondents is over 60 years. This analysis suggests that productive and dynamic personnel marketing and public relations functions of these insurance companies.The analysis shows 43 single and 39 married persons indicating 52 and 48 percent respondents, respectively (Table III). This is a fair distribution. From Table IV, 46 of the 82 respondents possess higher national diploma and degrees, 14 respondents possess higher degrees in form of MSc/MBA, and 16 respondents possess professional qualifications. Sex Number Percentage Table I. Male 50 61 Sex distribution Female 32 39 of respondents Total 82 100 Age Number Percentage Table II. Age distribution of respondents Below 30 years 31-40 years 41-50 years 51-60 years Total 36 37 6 3 82 44 45 7 4 100Marital status Number Percentage Table III. Marital status of respondents Single Married Total 43 39 82 52 48 100 The fact that only six respondents (a mere 8 percent) possess national diploma and below shows that marketing and public relations job in the insurance industry is taken over by professionally and academically qualified personnel. From Table V, 71 respondents (which is 87 percent) have not more than ten years working experience, while those having more than 16 years working experience constitute only 4 percent. None of the respondents however, have worked more than 25 years. 3. Descriptive statistics of the sample responses In presenting the data obtained in response to section B of the questionnaire, we will use tables of percentages as well as bar charts. A cumulative of 91 percent agree that insurance is necessary for socio-economic development while a mere 4 percent disagree (Table VI). One may conclude that majority of the respondents believe that insurance has a vital role to play in an economy. Here, again, Table VII shows that 91 percent agree that the Nigerian public is apathe tic toward insurance purchase, while a mere 5 percent could not agree. A total of 69 respondents (20 ? 9) agree that the level of insurance sales in the country is not encouraging, which is 84 percent of the respondents (Table VIII). On the other hand, 10 percent of the respondents disagree. This naturally confirms the response presented in Table VII indicating that the Nigerian public is apathetic toward insurance purchase. Academic qualification Number Percentage WAEC/NECO/GCE National diploma HND/BSc MSc/MBA Professional qualification Total 3 3 46 14 16 82 4 4 56 17 19 100 Table IV. Academic qualifications of respondents The effects of advertising media Length of service Number Percentage Below 5 years -10 years 11-15 years 16-20 years 21-25 years Total 48 23 7 2 2 82 59 28 9 2 2 100 Table V. Length of service/working experience of respondents Response Number Percentage Strongly agree Agree Undecided Strongly disagree Total 37 38 4 3 82 45 46 5 4 100 Table VI. Insurance necessary for socio-economic development JRF 10,3 About 49 percent believe that insurance performance follows the fortunes of the other sectors while 27 percent disagree (Table IX). The interesting thing is that 24 percent could not state whether or not the insurance industry performance depends on the performance of the other sectors.Here, respondents were allowed to choose more than one factor they considered as responsible for the low sales of insurance products. In order of frequency, low level of awareness, poor industry image, high level of illiteracy, and low per capital income top the list with 73, 57, 45, and 45 percent, respectively (Table X). These factors are represented on the bar chart (Figure 1). About 67 percent of the respondents agree that the principles involved in marketing tangible products apply with equal force to marketing intangible products such as Response Number Percentage Table VII. Whether public is pathetic toward insurance Strongly agree Agree Undecided Strong ly disagree Total 12 63 3 1 82 14 77 4 1 100 Response Number Percentage Table VIII. Level of insurance sales in Nigeria not encouraging Strongly agree Agree Undecided Disagree Total 20 49 5 8 82 24 60 6 10 100 Reponses Number Percentage Table IX. Performance of insurance Strongly agree Agree Undecided 7 33 20 9 40 24 industry dependent on the performance of other sectors Disagree Strongly disagree Total 17 5 82 21 6 100 Factor Number Percentage Low per capital income Low level of awareness 37 60 45 73 Table X. Factors responsible for ow sales of insurance High level of illiteracy Religious beliefs Poor industry image Availability of substitute 37 23 47 4 45 28 57 5 100 90 80 70 60 50 40 30 20 10 Poor image Substitute insurance while 33 percent disagree (Table XI). One may assert that while marketing principles are universal, their application to categories of products varies. All the respondents confirm that their companies have marketing or public relations department (Table XII). This shows that the issue of marketing or public relations is given adequate attention with staff assigned specific responsibilities.An overwhelming 93 percent of the respondents agree that their companies engage in one form of advertising or the other (Table XIII). It shows that companies could no longer be content with the provision of goods and services alone, they also see the need to inform the general public of their existence and the benefits they offer to the society. From Table XIII already discussed above, six respondents confirm that their companies do not engage in any form of advertising. In response question 9 on the questionnaire asking for the reasons, they pointed to the factors shown in Table XIV.Out of the six respondents, three chose â€Å"preference for other promotional tools,† four chose â€Å"high cost of advertising,† and two chose â€Å"difficulty in measuring advertising Low income Low awareness Illiteracy Religion Response Number Percentage Yes No Total 55 27 82 67 33 100 The effects of advertising media Figure 1. Chart showing factors responsible for low sales of insurance products Table XI. Can the principles involved in marketing tangible products be applied to insurance marketing? Response Number Percentage Table XII. Does your company have Yes 82 100 marketing or public Total 82 100 relations department? Response Number PercentageTable XIII. Yes 76 93 Whether respondents’ No 6 7 companies engage in Total 82 100 advertising activities JRF 10,3 effects on sales. † Interestingly, none chose â€Å"lack of good advertising opportunities† as a reason for not advertising. This means there may be good advertising opportunities, but measuring the effect of advertising on sales is a problem. In response to the question on advertising objectives, 72 percent of the respondents chose â€Å"inform the public about the company,† 55 percent chose â€Å"increase sales,† and 52 percent chose †Å"improve company’s image† among the major objectives of advertising (Table XV).From the above analysis, increase in sales is the leading advertising objective, apart from giving information about the company. Ranking in frequency, newspapers, radio, and magazines are the most favored advertising media with 79, 59, and 49 percent, respectively (Table XVI). These and other media used are presented on the bar chart (Figure 2). The analysis above indicates that 51 percent of the respondents reveal that developing advertising activities is a joint responsibility of the company’s staff and the advertising agencies (Table XVII).About 41 percent of the respondents show that it is entirely the work of advertising agencies while only 8 percent state that it is an internal responsibility. The report shows that insurance companies in developing their advertising program actively seek for the inputs of the advertising agencies. While only 5 percent of the respondents could n ot decide, a cumulative of 83 percent agree that the success of advertising activities depends on the integration of all marketing promotional tools. While no respondents strongly disagree, 12 percent disagree (Table XVIII).The 83 percent in agreement point to the fact that there is the need for integration of all marketing communications in order to achieve good result. Response Number Percentage Table XIV. Reasons why some Preference for other promotional tools 3 50 companies do no High cost of advertising 4 67 advertising Difficulty in measuring advertising effects 2 33 Response Number Percentage Table XV. Objectives of advertising Inform the public about the company Introduce new product Increase sales Improve profitability Improve company’s image 59 33 45 34 43 72 40 55 42 52 Response Number PercentageTable XVI. Advertising media used Radio Television Outdoor advertising Newspapers Magazines Journals 48 24 29 65 40 21 59 29 35 79 49 26 The effects of advertising media Fi gure 2. Bar chart showing the preferred advertising media Radio TV Outdoor Newspapers Magazine Journals 100 10 20 30 40 50 60 70 80 90 Response Number Percentage (a) Advertising staff (b) Advertising agencies (c) Both (a) and (b) above Total 7 34 41 82 8 41 51 100 Table XVII. Those responsible for developing advertising activities Response Strongly agree Agree Undecided Disagree Total Number 23 45 4 10 82 Percentage 8 55 5 12 100 Table XVIII. Whether advertising success is dependent on the integration of all marketing promotional tools From Table XIX, an overwhelming majority of the respondents agree that the choice of advertising medium is critical to the success of advertising activities. This is indicated by the sum of 20 percent for â€Å"strongly agree† and 70 percent for â€Å"agree† respondents making 90 percent. While 6 percent could not decide, a mere 4 percent disagree. Insurers therefore will have to pay attention to the medium selection if their advertising objectives are to be met.In Table XX, the respondents neither â€Å"disagree† nor â€Å"strongly disagree† with the notion that the choice of message can make a difference between success and failure of any advertising activity. While only 1 percent of the respondents could not decide, 99 percent agree with the notion that the choice of message is critical to any successful advertising program. Again, insurers need to pay attention to the message in endeavoring to reach the public. JRF 10,3 About 96 percent of the respondents support the notion that advertising has made positive impact on their company performance (Table XXI).This needs no further elaboration. Owing to the importance of this issue, question 16 in section B was reframed again as question 17 with the aim of testing the genuineness of the respondents’ answer. Interestingly, as in Table XXI (which analyzed responses to question 16), 96 percent of the respondents affirm that advertising has had posi tive effects on their company’s performance (Table XXII). Specifically, 73 percent of the respondents agree that advertising leads to increased sales, the figure which is marginally exceeded by 74 percent for â€Å"favorable public image† (Table XXIII).Also 61 percent of the respondents agree that advertising leads to increased number of prospects. This is presented in the bar chart shown in Figure 3. None of the respondents picked â€Å"no† for the answer, although it was included in the three options (Table XXIV). While 76 percent of the respondents believe that advertising expenditure is justified based on the results achieved, 24 percent could Response Number Percentage Table XIX. Strong agree Agree Undecided 16 57 5 20 70 6 The choice of advertising medium is critical to the success of advertising Disagree Strongly disagree Total 2 2 2 2 2 100 Response Number Percentage Table XX. The choice of message can make or mar advertising campaign Strongly agree Agre e Undecided Total 21 60 1 82 26 73 1 100 Table XXI. Whether advertising has impacted positively on company performance Response Yes No Total Number 79 3 82 Percentage 96 4 100 Response Number Percentage Table XXII. Description of advertising effects on company performance Positive effect No effect Negative effect Total 79 1 2 82 96 1 3 100 not decide. One may align with the fact that advertising expenditure, if properly done, is not a wasteful resource, after all.The fact that only 27 percent agree, and 37 percent could not decide in support of the notion shows that advertising agents have a long way to go in measuring up to international standard (Table XXV). About 36 percent (30 ? 6 percent) disagree that advertising professionals are performing at world standard. Response Number Percentage The effects of advertising media Increased number of calls received 10 Increased number of prospects visits 50 Increased number of orders received 21 Increased volume of sales 60 Increased quan tum of profits 31 Favorable public image 61 2 61 26 73 Table XXIII. 38 Specific effects of 74 advertising on companies Figure3. Bar chart showing effects of advertising 10 30 40 50 60 70 80 Calls Visits Orders Sales Profits Image Response Number Percentage Table XXIV. Yes 62 76 Going by the result, is Undecided 20 24 advertising expenditure Total 82 100 justified? Response Number Percentage Strongly agree 4 5 Agree 18 22 Table XXV. Undecided 30 37 Is performance of Disagree 25 30 advertising agencies in Strongly disagree 5 6 Nigeria is of international Total 82 100 standard? JRF 10,3 3. Analysis of research questions In Section 3, the research questions proposed in Section 1 were restated. These research questions, four in number, are analyzed as follows based on the information received from the respondents: RQ1. Is a company’s failure to use advertising a result of lack of good advertising opportunities? To answer this question, Table XIV (already analyzed somewhere above) is hereby represented in Table XXVI. In response to question 8 on the questionnaire, six out of the 82 respondents confirmed that their companies do no advertising at all.Question 9 asked for the reasons and four options were listed as follows: (1) company’s preference for other promotional tools; (2) high cost of advertising; (3) lack of good advertising opportunities; and (4) difficulty in measuring advertising effects. From Table XXVI, none of the respondents chose option (3), i. e. â€Å"lack of good advertising opportunities† as the reason for not advertising. One can therefore conclude that there are a number of advertising opportunities in the country for companies who care to advertise: RQ2. Do the results of other promotional tools affect the use of advertising?Again, this question would be answered using the response analysis presented in Table XIV. Out of the six respondents whose companies do no advertising, three stated that it was because their companies preferred the use of other promotional tools. When compared with the sample size, which is 82, the position of the three respondents is too insignificant to infer a generalization. One could thus conclude that the results of other promotional tools do not negatively affect the use of advertising: RQ3. Is the use of advertising dependent on the measurability of its result?Using Table XXVI, out of the six respondents who confirm that their companies do not advertise, two chose â€Å"difficulty in measuring advertising effects† as the reason. Again, this position of the two respondents is too insignificant when compared with that of the entire sample size of 82: RQ4. Is there any relationship between advertising expenditure and sales figure? In answering this question, the response to question 17 in the questionnaire will be used. The response as analyzed using Table XXIII (already analyzed somewhere above) is hereby represented in Table XXVII.Response Number Percentage Table XX VI. (Repeated) Reasons why Preference for other promotional tools 3 50 some companies do not High cost of advertising 4 67 advertise? Difficulty in measuring advertising effect 2 33 From this table, advertising has a number of positive effects on the organization. Among others, 74 percent of the respondents believe it has improved public image, 73 percent believe it has increased sales volume and 61 percent believe it has increased the number of prospect visits. All these show a positive relationship between advertising and sales. 3. 4 Test of hypothesisThe hypothesis to be tested is termed the H0 – a statement that no change has occurred from the position specified for a hypothesis. If however we reject the H0, the H1 will be accepted. An H1 is a statement, which is a reversal of a H0. 3. 4. 1 Restatement of the hypothesis. H0. There is no relationship between advertising expenditure and sales figure. H1. There is a relationship between advertising expenditure and sales figu re. In order to test for this hypothesis, data obtained from some insurance companies in respect of their sales figures (gross premium incomes) and their advertising expenditures for a five-year period was used. . 4. 2 Five-year figures of premium and advertising. These are shown in Table XXVIII. Our main objective is to test whether or not there is a relationship between advertising expenditure and sales volume. The statistical tool used here is Pearson’s product moment coefficient of correlation denoted by r. This coefficient gives an indication of the strength of the linear relationship between two variables. In our case, the two variables are: (1) Advertising expenditure, which is the independent variable represented by x. (2)Sales figures (gross premium income) which is the dependent variable denoted by y. Response Number Percentage The effects of advertising media Increased number of calls received 10 Increased number of prospects visits 50 Increased number of orders re ceived 21 Increased volume of sales 60 Increased quantum of profits 31 Favorable public image 61 12 61 26 Table XXVII. 73 (Repeated) Specific effects 38 of advertising on 74 companies Year Advert expenditure (N Premium income (N ?) ?) 2001 7,532,670 1,145,565,930 2002 8,980,422 1,456,227,292 2003 10,581,702 2,048,360,018 004 14,216,019 2,825,270,405 2005 16,186,851 3,485,046,944 Table XXVIII. JRF 10,3 For ease of computation, the figures for both advertising and sales (premium income) have been approximated as follows: XXXX X x ? 575; y ? 1; 096; x 2 ? 71; 369; y 2 ? 277; 194; and xy ? 139; 915: The formula for product moment correlation coefficient is: P PP n xy 2 x y r ? rffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffi ? :99: P P2 * P P2 n x2 2 x ny2 2 y According to Lucey (2002), r can range from ? 1, i. e. perfect p ositive correlation where the variables change value in the same direction as each other, to 21, i. e. perfect negative correlation where y decreases linearly as x increases. Lucey states further that a strong correlation between two variables would produce an r value in excess of ? 0. 9 or 20. 9. If the value were less than, say 0. 5 there would only be a very weak relationship between the variables. The value of our computed coefficient of correlation (r) is 0. 99.This indicates a very strong positive correlation between the two variables, i. e. advertising expenditure and sales figure denoted by x and y, respectively. The decision is that we reject the H0, which states that there is no relationship between advertising expenditure and sales figure, and accept the H1, which states that there is a relationship between advertising expenditure and sales figure. 4. Conclusions This study investigates how advertising could be used by the insurers to disseminate information on the vital role they play. The study concludes that: .The image problem and the poor sales of insurance products are not necessarily the result of the bad economy but the failure to engage in marketing communications. . Emphasizing other roles of insurance as financial intermediation and supplement to government’s efforts in providing social security will make it more attractive. . Greater benefits accrue when advertising is fully integrated into the whole mass of marketing communications. . There are good opportunities for the insurers to advertise their products, advertising practitioners have not measured up to international standards. .For good advertising output, the message and format are the joint responsibility of the insurance staff and advertising agencies. . The major advertising media used by the insurers are the newspapers and the radio. The use of the internet in Nigeria should be given due attention. . The choice of advertising medium is a critical success factor in any a dvertising activity. . The major effects of advertising on companies were found to include sales volume and improved public image. A number of obstacles militate against attainment of growth in the insurance subsector, notably, hostile economic environment.Relentless advertising campaign can take a company to the next level of growth. The research has also shown that advertising expenditure is justified going by the positive effects such expenditure has on a company’s performance. Furthermore, the message and the format have also been found to be critical ingredients of a successful advertising program. It is recommended that: . The insurance executives should realize that their activities do not end with producing good services. Passing information to the public about their services and benefits thereof must be vigorously pursued through advertising. For sustainable competitive advantage there is a need for integration of all marketing communications, as this will reduce con flicts in organizations. . A careful blend of print and electronic media is very essential in order to properly serve each market segment. . Sales persons are the ones on ground since they are always in the field. Their inputs must always be sought while designing advertising message and format. . The lack of records regarding advertising budget and actual expenses is a problem in many insurance organizations.There is a need to keep adequate records of advertising expenditure, as this is necessary for proper evaluation. . The practitioners must promote other important roles of insurance such as savings, financial intermediation and provision of social security. . In the area of image laundry there can still be mutually beneficial cooperation in the midst of competition among the insurers. . In this regard, the insurance industry as a whole should embark on an industry’s advertising in order to promote subjects of common interest.This will also reduce the overall cost of adver tising. In this work, a convenience sampling method is used. While the size of the sample is fairly large (100), a major limitation is that the sample is taken in Lagos: one state out of 36. The fact that some major towns in the country (i. e. Abuja, Port Harcourt, Kano, and Ibadan) were left out could limit the degree of representativeness of the sample. However, the fact that Lagos is home to almost 90 percent of the headquarters of insurance companies in Nigeria makes the findings of this study representative of the population.Consequently, these findings would form a platform on which companies can base some of their marketing decisions. Future research could focus on the effects of publicity and public relations on sales, and on the better methods of separating advertising effects from the total marketing effects. References Asika, N. (2006), Glossary of Terms and Concepts in Research and Statistics, 1st ed. , Maxwell, Lagos, pp. 50-8. Dillion, W. R. , Madden, T. J. and Firtle, N. H. (1994), Marketing Research in a Marketing Environment, 3rd ed. , Irwin, Chicago, IL, pp. 124-5. Lucey, T. 2002), Quantitative Techniques, 6th ed. , MPG, Bodmin, p. 96. Luo, X. and Donthu, N. (2005), â€Å"Assessing advertising media spending inefficiencies in generating sales†, Journal of Business Research, Vol. 58 No. 1, pp. 28-36. The effects of advertising media JRF 10,3 Nigeria Insurers Digest (2005), Statistical Journal of the Nigerian Insurers Association, p. 47. Nigeria Insurance Digest (2006), Statistical Journal of the Nigerian Insurers Association, pp. 23-4, 43. Perreault, W. and McCarthy, J. Jr (2000), Basic Marketing: A Global Managerial Approach, 14th ed. , McGraw-Hill, New York, NY, pp. 51-6. Randle, J. (2003), â€Å"Mergers and acquisition: a survival strategy for the insurance industry†, The Nigerian Insurer, November, pp. 14-18. Schultz, R. L. and Wittink, D. R. (1976), â€Å"The measurement of industry advertising effects†, Journal of Ma rketing Research, Vol. 13 No. 1, pp. 71-5. Sturgess, B. and Young, R. (1981), â€Å"The sales response to advertising: a reconsideration†, Management and Decision Economics, No. 3, pp. 133-8. Twedt and Knitter (1964), â€Å"What about the relationships among sales, advertising, and earnings†, Journal of Marketing, Vol. 28 No. 4, pp. 68-9.Further reading Achumba, I. C. (1985), Sales Management Concepts, Strategies and Cases, rev. ed. , Mukugamu and Brothers Enterprise, Lagos. Achumba, I. C. (1995), Sales and Management Concepts, Strategies and Cases, 1st ed. , Mukugamu and Brothers Enterprise, Lagos, p. 2. Asika, N. (2004), Research Methodology: A Process Approach, 1st ed. , Mukugamu and Brothers Enterprise, Lagos, pp. 20-3. Bickelhaupt, D. (1967), â€Å"Trends and innovations in the marketing of insurance†, Journal of Marketing, Vol. 31 No. 3, pp. 17-22. Connor-Linton, J. (2003), Chi-square Tutorial, updated by C.Ball, Georgetown University, Washington, DC. Coon ey, B. (1999), â€Å"Reuter XL capital announces web-based initiative to help manage organizational risk†, PR Newswire USA, April 12. Davidow, D. and Uttal, B. (1990), The Total Customer Service: The Ultimate Weapon, 1st ed. , Harper Collins, New York, NY. Dayton, D. (1999), Total Market Domination, 1st ed. , Adams Media Corporation, Halbrook, MA, pp. 37-41. Denny, R. (1988), Selling To Win, 1995 ed. , Kogan Page, London. Dibb, S. , Simkin, L. and Pride, W. (1991), Marketing, European ed. , Houghton Mifflin, Boston, MA.Farmer, R. N. (1987), â€Å"Would you want your grand daughter to marry a Taiwanese marketing man? †, Journal of Marketing, Vol. 51, pp. 111-6. Keith, R. (1960), â€Å"The marketing revolution†, Journal of Marketing, January, pp. 35-8. Kotler, P. and Armstrong, G. (2006), Principles of Marketing, 11th ed. , Prentice-Hall, New York, NY, pp. 428-44. Kotler, P. and Connor, R. A. Jr (1977), â€Å"Marketing professional services†, Journal of Mar keting, Vol. 41 No. 1, pp. 71-6. Lancaster, G. and Massingham, L. (1988), â€Å"Essentials of Marketing†, McGraw-Hill, London. Le Boeuf, M. 1987), How to Win Customers and Keep Them for Life, 1st ed. , Berkley Books, New York, NY. McWhorter, S. (1958), â€Å"Advertising and public relations activities of insurance companies with special emphasis on health insurance†, Journal of Insurance, Vol. 25 No. 3, pp. 8-20. Makki, S. and Somwaru, A. (2001), â€Å"Finance’ participation in crop insurance markets: creating the right incentives†, American Journal of Agricultural Economics, Vol. 83 No. 3, pp. 662-7. Miner, R. B. (1961), â€Å"Application of the theory of marketing tangible goods to the marketing of insurance†, Journal of Insurance, Vol. 8 No. 1, pp. 41-4. Nigeria Insurers Association (2006), Where to Insure 2006, Nigeria Insurers Association, Lagos, pp. 28-43. Pappas, C. (2000), â€Å"AdNauseam†, Advertising Age, July, pp. 16-18. Polley, R . W. (1987), â€Å"On the value of reflection in the distorted mirror†, Journal of Marketing, Vol. 27 No. 6, pp. 104-9. Prisca, S. (2004), â€Å"Developing public trust in insurance. A critical appraisal†, Journal of Chartered Insurance Institute of Nigeria, Vol. 5 No. 13, p. 17. Rejda, G. (2002), Principles of Risk Management and Insurance, 7th ed. , Pearson Education, Delhi. Rejda, G. 2003), Principles of Risk Management and Insurance, 7th ed. , Pearson Education, Singapore, p. 20. Ryan, L. (1985), â€Å"New distribution channels for microcomputer software†, Business, October/December, pp. 21-2. Wikipedia (2006), The Free Encyclopedia, available at: http://en. wikipedia. org/wiki/Advertising Corresponding author S. A. Aduloju can be contacted at: [email  protected] com To purchase reprints of this article please e-mail: [email  protected] com Or visit our web site for further details: www. emeraldinsight. com/reprints The effects of advertising media