Advertising as a Tool for Economic Development

ABSTRACT

This research study analyzes advertising as a tool for economic development with a specific focus on the Vid Vision Media, Calabar. This work is divided into five chapters, and it adopts the survey method (a quantitative tool of data analysis). Recognizing the growing influence and importance of advertising especially as it concerns economic development, this study identifies that media firms are faced with increased tariffs and tax charges, this which impacts on their operations and impacts. In this regards, the study sets out to achieved the following objectives; to determine the roles of advertising in the advancement of economic development in Nigeria, to consider the challenges that militates against the effectiveness of advertising as a tool in the development of the economy, to recommend adoptable strategies towards the resolution of challenges that affects the role of advertising in the development of the economy. This study recommends the standards necessary to be adopted towards the assistance of the advertising firm in their roles towards economic development. Basic literary works and concepts, empirical studies and theory were reviewed and data were gathered through the survey research method. A sample size of 50 respondents was considered and the findings from the study points out that advertising can actually play a pivotal role in the development of the economy through its messages and other elements of contents, however, the advertising firms who creates this contents are faced with challenges including high taxation charges and lack of sufficient personnel, these which can be resolved through the commitment of the available staff and the adjustments in government’s taxation policies. The study recommends that the government should reduce Value Added Tax (VAT) on the media firms, as this will help reduce the overall cost of implementing an advert campaign in order to lessen the stations financial burdens. More so, the advertising/media firms should provide their staff with training and refresher IT centers in their organization. This would help to refresh and update their knowledge of advert copies writing as it is generally noted that communication is dynamic and contemporary approaches to communication will be more impactful on the economy.