MARKET POTENTIAL OF BREAD PRODUCED FROM MAIZE FLOUR
1.1 BACKGROUND OF THE STUDY
Survival was the watchword of many manufacturing companies in the country as the effect of the high cost of wheat flow irritated into the country flow mills beking and livestock feed industries have resorted to using corn, cassava and sometimes sorghum as substitute for the formally imported wheat due to the unbearable situation many bakery companies got closed down.
In the presidential budget speech of 2000, the president (Chief Olusegun Obasanjo) of the Federal Republic of Nigeria emphasized raising the rate of utilization of existing installed capacity in agriculture and industry to accelerate food production and rural development and encourage the use of local raw materials. Prior to this, alternative raw materials live maize, guinea corn, millet and cassava have been suggested as close substitutes to wheat for bread production.
Product research companies the investigations concerned with designing on modifying products so that they are best adopted to the desire of the buyer and to marketing requirements product research may deal with the original development of an entirely novel product with the entrance of with existing makes and with modification of existing makes to enhance their marketability product research in the later case may deal with its packaging and labeling.
Bread produced from maize flow or non-wheat flow can be regarded as a new or modified new product. As a result it will required a kind of commercial evaluation. The screening process will throw up the move obvious fit talls and opportunities which a new product ofters but desk and field or markets by size, location, structure and buying habits. Information can also be obtained on competition and other possible external factors and thus calculations can be made to indicate the share of market likely to be obtained at various time periods at various costs and by the use of various methods of distribution pricing and sales policies.
Once the product has passed through the development and design stage full sales production risks are avoided by building models, proto types or by using a pilot plant. It may also be feasible to carryout limited tests of the product in the market of consumers goods a geographical are possibly one of the smaller T.V. area may be selected to both product and marketing methods. A gradual extension of the test market can follow with the advantage of allowing for a gradual and selling effort.
However, from all findings: Odinga special bread have not been doing so bad in the market. The only thing is that it is a small scale industry and they do not go far geographically to reach out for larges consumers.
1.2 STATEMENT OF PROBLEM
This study is conducted in Okigwe, Imo State and surveyed bakery farm, baker of Odinga special bread in the town, findings out the market potential of bread produced from maize flow. Though bread baked from maize flow involves the use of local raw materials (that is maize flow) which is produced within the country. Bakery farms still face some problems such as follows: -
- They company is faced with so many competitors who have also come into the business with the use of the same maize flow in the baking of bread.
- Consumers do not see the bread as a high quality product.
- They company is also faced with the problem of distribution. They do not cover as much place as possible.
- Due to its small scale nature the company has not created much awareness for their product.
- Due to the local source of their raw material, the company product prices is suppose to be lower than what is obtainable.
The company have to work hard to see that the above problems is checked to enhance the effective and efficient growth of the company.
1.3 OBJECTIVE OF STUDY
The objective of the study is the marketing potential of bread produced from maize floor. A case study of Odinga special bread industry Okigwe, Imo State.
Ho1: consumers or Odinga special bread don’t like bread baked from maize flour.
H1: Consumers of Odinga special bread live bread baked from flow.
Ho2: Bread baked from maize flour is not of high quality.
H2: Bread bakes from maize flow is of high quality
Ho3: Bread baked from maize flow are not of low price
H3: Bread baked from maize flow are of low price
Ho4: There is no good market potential for bread baked from maize flow.
H4: There is good market potential for bread baked from maize flow.
1.5 SIGNIFICANCE OF STUDY
This research work should not be seen as merely being done for the sole purpose of certifying the requirements for the award of certificate in marketing. The study is beneficial and important in the context of the problem under study.
The beneficial and this study or research can be simply stated as follows: -
(i) It will be of great benefit to bakery farm because it will not only identify areas of production problems being encountered by them in using maize flour in the baking of bread, but will also help them identify consumer reaction towards their product; (that is Odinga bread) so as to satisfy them better by further research.
(ii) It will identify consumer reactions towards bread baked from maize flour which will help in the area of further research by bakery farm, and by the research institute who engage in the innovation of the use of maize flour in baking.
(iii) It will be of better benefit to the competitors, because it will help them to see the larses of the company in question and will provide information towards a better application of marketing functions.
(iv) It will also be of benefit to the reads of this research work because it will help the readers to the exposed to the topic in question.
(v) It will serve as a starting point to other researchers who may or will like to research on the same topic in question.
1.6 SCOPE OF STUDY
The study or research work surveyed bakery farm, baker of Odinga special bread, baked from maize flour as an alternative to wheat flour whose importation was banned.
The survey was done within Okigwe and its environs. The research was carried out in 2005; when the researches was a final year ordinary National Diploma (OND) student.
1.6 DEFINITION OF TERMS
MARKETING: - Marketing is the management function which organizes and directs all those business activities involved in assessing and converting purchasing power into effective demand for a specific product or service, and in moving the product or services to the final consumers or uses so as to achieve the profit target or other objectives set by a company.
MARKETING RESEARCH: - Marketing research is the systematic, objective and exhaustive search for and study of the facts relevant to any problem in the field of marketing.