EFFECTIVE MARKETING STRATEGIES IN IMPROVING PERFORMANCE OF NON-DURABLE CONSUMER PRODUCTS
Marketing has been identified as an interesting fascinating and dynamic field. It is to a great extent to all embracing and evolving process of very organization and of every business world. Marketing is a human activity directed at satisfying needs and wants rooted in human behaviour. In real life, there is nothing that one does that does not imply an art of marketing, when one displays its product or services to the public in order to earn revenue and possibly make profit; he is engaged in promotion and selling and selling, an aspect of marketing. The aim of this research work is to appraise the effectiveness of marketing strategies in improving performance of non durable consumer product focusing on peak milk. For a successful completion of this research work, the researcher will make use of both primary and secondary data were collected through:
a) Questionnaire administration
b) Oral interview and
c) Personal observation
Secondary data were collected through
a) Periodicals and journals,
b) Textbooks and lecture and note books,
The data collected will be presented in table and analyzed with simple percentage. The summary of findings made by the research include the following:
1) Marketing strategies help a firm achieve and maintain a high level of operating efficiency.
2) Marketing is the bedrock on which business survives.
3) The marketers of peak milk after quality products and services and practice the concept of marketing which aims at customer satisfaction.
The recommendations made by the researcher include the following:
1) The marketers of peak milk should always define the current business situations and explain how they will get there ion their marketing strategies.
2) These marketing with regards to the products market facilities and the required financial and human resource to accomplish corporate overall marketing objectives.
In conclusions, an organization or firm, most especially a market oriented one in a very competitive economy needs to examine how it can competitively develop plans and strategies for serving it market.
TABLE OF CONTENTS
Title page i
Approval page ii
Table of contents vi
1.1 Background of the study 1
1.2 Statement of problem 4
1.3 Objectives of the study 6
1.4 Research question 6
1.5 Formulation of hypothesis 7
1.6 Significance of the study 9
1.7 Scope and limitation of study 10
1.8 Definition of terms 10
2.0 REVIEW OF RELATED LITERATURE 12
2.1 Theoretical framework 12
2.1.1 Marketing and its usefulness 14
2.1.2 Marketing improvement techniques 16
2.1.3 The changes marketing in Nigeria 17
2.1.4 Development of marketing strategy 18
2.1.5 The role of marketing strategy in peak
milk industrial marketing 20
2.2 Empirical work on effective marketing strategies
and performance 21
2.3 Summary of review of related literatures 24
3.0 RESEARCH DESIGN AND METHOD 27
3.1 Research design 27
3.2 Area of study 27
3.3 Population of study 27
3.4 Sampling method 28
3.5 Research instrumentation 29
3.6 Validity and reliability of research instruments 30
3.7 Source of data 30
3.8 Methods of investigation 31
4.0 PRESENTATION AND ANALYSIS OF DATA 32
4.1 Presentation and analysis of results 32
4.2 Test of hypotheses 37
5.0 SUMMARY OF FINDINGS/CONCLUSION AND RECOMMENDATIONS. 44
5.1 Findings 44
5.2 Recommendations 45
5.3 Conclusion 46
1.9 BACKGROUND OF THE STUDY
Most people believe that marketing is synonymous with personal selling and Advertising selling and advertising are two key activities of marketing of services and products.
Marketing therefore will be defined as the activities performed by individuals or organizations performed by individuals or organizations for commercial and on commercial objectives, aimed at satisfaction through the exchange process of buyers demand for products services, people or ideas (Menfier J. and Sch. 1985). Schoell (1985) going straight to the point says marketing involves individuals and satisfy human want by facilitating exchange relationship. Competition for buyer attention in the market place became keener, Business at this point needed a new philosophy to reflect the marketing concepts.
Marketing concept address his situation by proposing three basic ideas.
1) Companies should produce only what customer want.
2) Management must integrate all company to develop programs to satisfy those want.
3) Long-range profit goals rather than quick sales should guide management decisions. Marketers must make the right decisions about the four components of the marketing mix, price, place, product and promotion.
The key components must be co-ordinated and more unto unified effective strategies, the terrain market place in particular and economic, potential, special and technological environment in general. These sources or personal with wide ranging skill and expose as well as factories, laboratories, transportation system, financial resources and the corporation reputation.
At the heart of any business strategy, marketing strategic business exist to deliveries product to the marketers to the extent that they serve the purpose well efficiently they grow and profit.
Expectation therefore, plays a major role in the reaction of the consumers towards a product, consumers based on the their expectation or in the information or message received for sellers friend, another science of information.
All these are the marketing effort, the objectives of organization has to be considered, particularly profit maximization.
Moreover, the key to a successful marketing strategy is to effective marketing strategy would be that blend of element in the marketing mix, price, product, promotion, selling, service, that would take advantage of that market opportunity at the lowest cost.
The conclusion, strategies must reflect all aspect of marketing and above all, it must anticipate the action and reaction of competitors.
1.10Statement of Problem
Marketing research studies a method for collecting, on an one-tune bases, data pertinent to a particular marketing problem or opportunity. That is, they are often used to determine the causes of specific problem or to explore opportunities in the market place.
Moreover, company which intends to improve on its marketing has to create good marketing strategies for operation, these strategies of effective should increase the sales and profitability of such companies and will also help them to achieve its objective or aims.
Furthermore, peak milk beverages manufactured by (Friesland Foods Wamanco Nigeria plc) has contributed towards the success of the firm in recent years due to good marketing strategies set up for it by their marketer.
Peak milk beverages which is one of the leading beverages ever produce by the firm has maintained its market share due to good penetration of the product into the market.
Finally, peak milk for some time now experience some unfavourable external business environment. Like poor sales of the product, inability of the product to face other competing beverages in the market and so on. Stating all these hindrances in which adequate research will be carried on as well as recommendation.