Impact of Advertising on Turnover of Brewery Companies in Nigeria.

This paper examines the impact of advertising on turnover of manufacturing companies with a view to rank the magnitude of importance of advertising among the multifarious factors of promotion, goodwill, product availability, pricing impacting on turnover. Both primary and secondary data used were analyzed using ordinary least square and a multiple regression models and were interpreted using R2, adjusted R2, and standard error of estimate and t statistics. These were supplemented with augmented Dikky Fuller Unit Root and causality tests. The study concludes that generally advertising is a powerful determinant of manufacturing companys turnover in Nigeria whether considered individually or in combination with other factors (for Nigerian Breweries) but ranked after goodwill for Guinness. It is recommended that advertising models of the brewery sector in Nigeria should consider goodwill sustainability to achieve advertising objectives.