The role of advertisement in consumer preference on food and beverages in oligopoly market: a study based on Mirigama divisional secretariat area

Abstract

Advertising plays a significant role in introducing a product to the public, changing tastes, and other product-related issues. In the current world, none of the products can remain in the oligopoly market without advertising. This research is based on "The role of advertising in consumer preference for food and beverages in the oligopoly market: a study based on Mirigama Divisional Secretariat area". The primary goal of this study is to determine the role of advertisements in consumer preferences for food and beverage items. The research's sub-objectives are to identify the role of advertising in consumer preference for food and beverage items based on the Mirigama Divisional Secretariat area, the highly chosen food and beverage items as a result of advertising, and the role of the media in the promotion of food and beverage products. This research was conducted based on primary and secondary data. The primary data was collected through questionnaires and the secondary data was collected from the Divisional Secretariat Office and Grama Niladari Office. The multiple regression model and descriptive analysis were used to achieve the objectives of the study, using SPSS and the MS Excel package. Results of this research show that necessity, dominance, brand recall, and stimulation of the advertisement are shown to have a positive impact on consumer preference and only pleasure has a negative impact. And the most chosen food and beverage items due to advertising are kottu mee, chocolate biscuit, dairy milk, anchor Newdale, Necto, Milo, MD juice, and wattawala. It is also identified that the media has a high contribution to consumer preference. Among the consumers' most preferred media is television. Producers and consumers can achieve a better achievement through reachable and attractive advertising if they act in accordance with the suggestions given by the researcher. The government can also implement digital-based advertisements in the market.