The Effect Of Segmentation In The Target Marketing Of NBL Plc In Enugu State

Project and Seminar Material for Marketing

The Effect Of Segmentation In The Target Marketing Of NBL Plc In Enugu State


Abstract


This research project is very crucial study of the effect of segmentation in the target marketing of NBL plc Enugu. To solve the research problem primary and secondary data were collected. The research instrument used in collecting the data were questionnaire and personal oral interview. The respondents compassed the event staff/management and the customers of the company. The study was conducted using the descriptive study design, employing both quantitative and qualitative approaches. The target population was the organization marketing managers in selected international organizations in Nigeria. The study sampled 17 marketing directors. The main source of primary data was individual questionnaires served to marketing executives of the Nigerian breweries. Descriptive Statistics techniques was used to produce data such as mean, standard deviation, frequencies and percentages. Inferential statistics techniques were used to test the various correlations that exist among variables. The findings of the study indicate that there is a moderate linkage which exists between market segmentation and access to diverse markets in international business environments. The study found that the marketing departments in the organizations have a well educated workforce undertaking their delivery of services in this field. It found that while the organizations were recruiting new staff in the marketing departments, they were also keen on maintaining staff for continuity of organization culture. It found that most of the respondents feel that their sales growth is high and that most organizations are doing quite well in growing the revenue from sale of services. The results are also significant for theory, policy and implementation purposes in marketing for services. The study recommended similar studies in other organizations in the service sector.


Chapter One


Introduction

1.1 Background of the Study

In this modern and dynamic world, marketers look at the overall market as a body consisting of many smaller parts whose elements have some common characteristics.

They are mostly distinct from the entire market. For marketers entering a market, the total market must be divided into segments or division being similar internal of wants and need or behaviours. This therefore, results to designing its own programme which will be developed for its best satisfaction.

Adirika, Ebue, Nnolom (1997:40) noted that most marketers are too large for an organization market. Some delimitation of the market is necessary for the sake of efficiency and because of limited resources. This takes up to market segmentation.

According to Edoga and Ani (200:18) market segmentation is defined as the process of dividing the total market into several relatively homogenous groups with similar product interest. This process according to them requires marketers to identify factors that effect purchasing decision so that consumer can be grouped accordingly.

Adirika, Ebue and Noolom (1997:30) sees marketing segmentation as the subdividing of a heterogeneous market into homogenous subset or groups of customers so that each subset can conceivably be selected as a separated market target to be reach with a district marketing, mix. They further noted that in segmentation and consequently target marketing, organization endeavour to serve target market that they are able to satisfy efficiently and effectively, and not just any group of buyers that seems to represent a sizeable market. These includes the marketing of drinks.

Adirika (1992, 2-9) believe that the battles for the heart, mind and pocket book of the customers will be won by a block by block store by purchase, by bases. This strategy is based on the premise that customers have different test which change over town and that these customers and variety (customizable every organization including Brewery industries must make decision on two areas of needs:

  1. What need to serve and
  2. Whose needs to serve

market consists of buyers who differ this wants, purchasing power, Geographical locations buying attitudes and buying practices. Any of the variables can be used to segment a market in today’s marketing environment, where are have an our grouping economy segmentation is giving a better view of what marketing concept is all about. A company that decides to operate on a broad or differentiated market whether consumer industrial reseller or government recongguishes that of normally cannot serve all customer in that given market.

Edoga (1995:86) believes that market segmentation is disagregative on its several demand schedules where only one was recognized before market segmentation, this is a device which is used in assisting management to divide a given total market demand into sets that are relatively homogenous and have certain specified characteristics by which they are identified. Market segmentation is customer oriented and hence, it is consistent concept. In segmenting, we first identify the needs and want of customers (consumers) within a sub market and then decide if it practical to develop a marketing mix to satisfy those wants.

Management can do a better marketing job and make efficient use of its resources by tailoring marketing programmes to individuals market segment.


1.2 Statement of the Problems

Effective segmentation has been discovered to be potents marketing tolls for increase marketing performance on an ever increasing competition in the market place. M.B.2 = Nigeria breweries plc has registered her name in the brewery industry. Among other competitors like guardness plc life breweries etc.

Nigeria brewery has been witnessing tremendous competition among the different brands of bear which are market to customers like star, Gulder and maltona.

Nigeria brewery plc has maintained its leadership position on the market for a very long time or period.

The performance of this product on the market has been tremendous most customers prefer this brand to competitive brands.

In consumance to the above,

  1. How has this segmentation strategy on hand Nigeria brewery plc on meeting her customers demand.
  2. Is this success as a result of effective segmentation stragtegy
  3. Is this an improved service as a result of enhanced segmentation strategy.
  4. What are the likely advantages this strategy has over competing brand.

In consumance of the above lines of reasoning/postulations: it is emphatically noted that segmentation is the key word for effective satisfaction of customers in catering industries.


1.3 Objective of the Study

In order to solve the problems identified above. The following objectives were formulated.

  1. To pond out the role of segmentation on the marketing of NBL Product
  2. To find out the major problems facings on segmentation their product/services.
  3. To determine the impact of market segmentation on increase profit of NBL
  4. To find out it marketing segmentation NBL leads to increase customers patronage.
  5. To determine if customers are satisfy with market segmentation strategies of NBL
  6. To find out the advantages of market segmentation of NBL products.

1.4 Formulation of Hypotheses

In order to find a dependable solution to the research problem, the researcher has formulated the following hypothesis=Ho= market segmentation pratices of Nigeria brewery plc, do not leads to increase patronage of their products

Hi = market segment practices of NBL leads to increase patronage of their product Ho= The market segmentation practice of NBL does not leads to efficient use of limited resources of the company.

Ho = practice of market segmentation impacts negatively on the profit of the organization .

Hi = practice of market segmentation impacts positively on the profit of the organization


1.5 Significance of the Study

Since the marketing environments changing, marketers continues to strive for protection marketing which is a human/idea oriented discipline cannot do without idea generation. As more ideas and products come into being, so, as the problems of entering the market with such product abounds. The study-market segmentation as a veritable of marketing, stands as shock absorber to market trying to segmentation a market, due to its intrinsite study and analysis of the segmentation variables. The significances of this study is engulfed and within the parameter of the following.

  1. Educating and aspiring marketers whose market segmentation as a veritable tools of marketing.
  2. Informing them of the euphoria of segmentation โ€œwith references to the querrilla warfare marketโ€. It will make marketers to really understand that segmenting the market into a basket on benefits will in no distance time ensure that in any door step/audience you meet, there must be a kobo to be spent for your product.
  3. Informs the marketers about the problems which might be faced and also formulated policies and strategies to tackling these problems.
  4. Groom them on how to adopt to the rest changing marketing environment and finally. It will be a benefit to readers and researchers in coming out other related work.

1.6 Scope of the Study

This study concentrated on However, the researcher concentrated on the company operation within Enugu metropolis due to time money and other consonances.


1.7 Definition of Terms

Marketing sargins relates to the marketing world. Certain words have been used in this write-up and they need to be defined as they are relates to the research topic

Market:

It is any legal and a formal place which exchange process takes place for benefit

Segmentation:

This is the process of sub-dividing a heterogeneous market into homogenous subset or group can conceivably be selected as a separate market target to be reached with a district marketing not.

Marketing segment:

This is a unique group, which has all its segmentation variables and characteristics.

Premium segment:

This is the segment that falls under the upper-upper group.

Standard segment:

This group falls under the upper lower group. They are people on the average income group (Fantasial)

Savings segment:

This group falls the lower group, they are the lower income earners.

Strategies marketing:

Is described as STP marketing namely: Segment, target marketing and positiming.


Chapter Five


Summary, Conclusion and Recommendations

5.1 Introduction

The general objective of the study was to examine the effect of segmentation in the target marketing of NBL Plc in Enugu state. Moderating effects of firm characteristics and employee factors on segmentation was also focused on. The research questions were for eliciting additional information for elaboration and triangulation purposes. The present chapter summarizes the research problem and discusses the broader implications of the findings for theory, practice, policy and further research in the field of education.


5.2 Summary

The study found that the marketing departments in the organizations have a well-educated workforce undertaking their delivery of services in this field. It found that while the organizations were recruiting new staff in the marketing departments, they were also keen on maintaining staff for continuity of organization culture. It found that most of the respondents feel that their sales growth is high and that most organizations are doing quite well in growing the revenue from sale of services. It found a positive correlation of 0.561 between Market Segmentation and Performance and performance. The results also show a negative correlation of -0.472 between Environmental Diversity and performance. The R2=0.518 is an indication that there is a linear relationship between Environmental Diversity and Market Segmentation of organizations. It also shows that Environmental Diversity and Market
Segmentation explain 51.8% organization performance.

The emphasis was on whether Segmentation influences performance of the manufacturing institutions in Nigeria. The indicators were identified as benefits and practices as a way of avoiding biasness in studies by the respondents. It was established that market segmentation has a strong, positive and significant relationship with the performance of manufacturing institutions.


5.3 Conclusion

Segmentation in manufacturing industry in Nigeria is changing from rare trend to a common trend. Some of the benefits of segmentation are increased annual turnover, expanded client base and reduced risk on investment just to mention but a few. However segmentation does not come without challenges, some of the challenges could be; loss of work and less returns, upsetting the old practices with the new products, new technology requiring employees to be further trained hence high cost more work, more expenses, economic effects resistance to changes, getting qualified employees, competition from other firms and a lot of time needed in understanding new methods of approaching new market segments.

The study concludes that the marketing departments in the organizations have a well-educated workforce undertaking their delivery of services in this field. It concludes that while the organizations were recruiting new staff in the marketing departments, they were also keen on maintaining staff for continuity of organization culture. It concludes that most of the respondents feel that their sales growth is high and that most organizations are doing quite well in growing the revenue from sale of services. It concludes that there is a positive correlation of 0.561 between Market Segmentation and Performance and performance. The results also shows a negative correlation of -0.472 between Environmental Diversity and performance. The R2=0.518 is an indication that there is a linear relationship between

Environmental Diversity and Market Segmentation of organizations. It also shows that Environmental Diversity and Market Segmentation explains 51.8% organization performance.


5.4 Recommendations

The study sought to establish the general remarks from the respondents on the way forward towards diversification in legal service firms. The remarks were both positive and others posed on need for improvement on diversification strategies. The remarks were that more segmentation of the markets should be encouraged, segmentation should be done cautiously in order to strike a balance in retaining traditional values of the legal profession, corporate training is vital in running a business in diverse environments, Changes should be gradual as firms embrace segmentation, segmentation of markets in international market is vital for making higher profits and more clients, and offering services of maximum perfection to the clients in order to maximize good will in the market.


5.5 Suggestion for Further Research

The study found that Environmental Diversity and Market Segmentation explains 51.8% organization performance living out 48.2% unexplained. This shows that there are other variables not in this study that explains the change in organization performance. The study therefore suggests that further study be done on other variables that affect organization performance.


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