The Impact Of Marketing Concept On Sale Growth

The Impact Of Marketing Concept On Sale Growth
Abstract
The study’s overall objective is to examine the impact of marketing concept on sale growth (case study of relented small scale business) in Lagos State. The study further ascertained whether promotion strategy affect marketing objectives, establish whether product quality influences policy of the competitors and enhance sales., determine whether affordable pricing strategy influences sales growth in small business. The research adopted the survey descriptive design and with the aid of convenience sampling method, the researcher conveniently selected eighty (80) participant who are staff and management relented small scale business in Lagos State..Self- structure questionnaire was issued to the respondent of which seventy-seven (77)responses were retrieved and validated for the study. The study made use of of descriptive analysis and inferential statistics where data from field survey was analyzed using simple percentage in frequencies and tables. Hypothesis test was conducted using Chi-Square Statistical Package for the Social Sciences (SPSS v.23).The study found that marketing strategy (product, price, promotion and place,) were significantly independent and joint predictors of business performance. Each one has its unique contribution and impact to the performance of the small Businesses. This also shows the importance of the marketing strategy no matter how small the Business may be. The study concluded The combination of all marketing concept influence high sales performance of small businesses. The study therefore recommends The study therefore recommends that since small Businesses have high potential and opportunity for growth, instituting appropriate and adequate measures of marketing strategy in their Business practice will go a long way in Business success. This is also coupled with the emerging economic nature of the country which if marketing strategy is properly utilized, there is no doubt for improved performance.
Table of Content
Chapter One:
Introduction
- 1.1 Background of the Study
- 1.2 Statement of the Problem
- 1.3 Objective of the Study
- 1.4 Research Questions
- 1.5 Research Hypothesis
- 1.6 Significance of the Study
- 1.7 Scope of the Study
- 1.8 Limitation of the Study
- 1.9 Definition of Terms
- 1.10 Organisations of the Study
Chapter Two:
Review of Literature
- 2.1 Conceptual Framework
- 2.2 Theoretical Framework
- 2.3 Empirical Review
Chapter Three:
Research Methodology
- 3.1 Research Design
- 3.2 Population of the Study
- 3.3 Sample Size Determination
- 3.4 Sample Size Selection Technique and Procedure
- 3.5 Research Instrument and Administration
- 3.6 Method of Data Collection
- 3.7 Method of Data Analysis
- 3.8 Validity of the Study
- 3.9 Reliability of the Study
- 3.10 Ethical Consideration
Chapter Four:
Data Presentation and Analysis
- 4.1 Data Presentation
- 4.2 Analysis of Data
- 4.3 Answering Research Questions
- 4.4 Test of Hypotheses
- 4.5 Discussion of Findings
Chapter Five:
Summary, Conclusion and Recommendation
- 5.1 Summary
- 5.2 Conclusion
- 5.3 Recommendation
- 5.4 Suggestion for Further Studies
- References
- APPENDIX
- QUESTIONNAIRE
Chapter One
Introduction
1.1 Background of the Study
The current globalized marketing has made companies to see the internationalization of their activities as a way to remain competitive. Marketing strategy has become important tool globally for any organization to remain in competitive market environment and be stronger. Aremu and Lawal (2012) sees strategy as a pattern of resource allocation decisions made throughout an organization. This encapsulates both desired goals and beliefs about what are acceptable and most critically unacceptable means for achieving them. Strategy implies that the analysis of the market and its environment, customer buying behaviour, competitive activities and the need and capabilities of marketing intermediaries. Marketing strategy therefore, can be defined as a method by which a firm attempts to reach its target markets, Marketing strategy starts with market research, developing vision about the market(s), selecting market targets strategies, design positioning strategies, setting objectives and implementing the marketing programmes to meet the value requirements of the target markets (Mustapha 2013). It is a logic which customer needs, attitudes and competitors’ products are assessed and continues through into advertising, promotion, distribution and where applicable, customer servicing, packaging, sales and distribution. Marketing strategy must focus on delivering greater value to customers and the firm at a lower cost (Chiliya, Herbst and Roberts- Combard 2009). Owomoyela, Oyeniyi and Ola (2013) also see marketing strategy as way of providing a quality product that satisfies customer needs, offering affordable price and engaging in wider distribution and back it up with effective promotion strategy. Marketing strategy is a vital prerequisite of industry’s ability to strengthen its market share and minimize the impact of the competition.
Small and medium enterprises (SMEs) are the engine of economy growth and development globally, Nigeria inclusive. By their very nature, SMEs constitute the most viable and veritable vehicle for self-sustaining industrial development (Oyebamiji, Kareem & Ayeni, 2013). SMEs in developing countries, like Nigeria are struggling to survive under intense competitive environments both domestic and international. Small and Medium Enterprises (SMEs) in Nigeria have not performed creditably well and hence have not played the expected vital and vibrant role in the economic growth and development of Nigeria. They note that the situation has been of great concern to the government, citizenry, operators, and practitioners. These challenges could be as a result of perceived ineffective marketing strategy which is having negative effect on the organization’s performance, product quality, customer satisfaction and profitability. Small and medium enterprises (SMEs) operators need to provide a quality product with good packaging that satisfies customer needs, offering affordable price and engaging in wider distribution and back it up with effective promotion strategy in order to survive the pressure from global market competitive environment.
Marketing Concept’s focus on the need to understand the future customers just before designing and manufacturing a product or service for them. With the customer’s wants and needs incorporated into the design and manufacture of the product, sales and profit goals are far would be met. Customer’s satisfaction is key to the organization, the need to understand the customer is highly important. Marketing research techniques was bought about just for that purpose. Smaller companies can be able to keep a close relationship with them but imply talking with them. While larger organizations have set up strategies in place in order to be able keep in close touch with their customers, be it through focus groups, or even third-party research studies. Whatever the strategy, the goal is to know the customers so that organization can better serve their customers and not lose focus of their needs and wants. The marketing concept, as defined in the marketing literature, is of the view that for success in any organization soley depends on first determining the needs of the target market and delivering satisfaction to the target markets more efficiently and effectively than competitors do (Kimerey & Rinehart, 1998).
The marketing concept can be seen as a guide to ensure the satisfaction of customer needs and wants. The marketing concept is based on the principle that individuals who do not have a need or desire for the products which the firm is selling will simply not purchase it. Ibidunni O.S (2012) marketing concept is the management orientation that holds the key in achieving organizational goals.. Peter and Donnelly (2004) holds that the concept of marketing means that organizations should try as much as possible to strive to be profitable by serving the needs of customers. Thus Marketing concept and philosophy states that the organization should always strive to create satisfaction for its customers’ wants and needs while also meeting the different organization’s goals. It should be noted that meeting organizational goals can best achieved by meeting the customer’s needs and wants. The core of the marketing concept is the enterprises’ dependency on the identification of the needs of the customers and satisfaction of its customers. The customer will become the focal point for company functions such as planning, strategic setting research problem development as well as marketing activities.
The traditional marketing concept holds that an organization should enhance long-term customer satisfaction through a co-ordinate set of activities that also allows the organization to satisfy its profit goal. The implications are clear; long-term relationships with customers is desired by any organization, profit making instead of short-term exchanges is emphasized, and co-ordination will signify long-term relationships with both internal and external stakeholders especially customers. The product service system (PSS) concept is known as path way to help contribute to this system level improvement (Goedkoop, van Helen et al. 1999; Mont2000).
Advertising a product or service must be targeted at motivating the interest of the target market, as it creates a desire for the product or service. For example, some advertisement raws attention, but some seconds afterwards, the product or service is forgotten. Great advertisement would always keep products in the minds of the target consumer. Also, advertising budget must also be in mind while selecting a marketing concept that should be adopted. When firms first begin to adopt the marketing concept, they always set up separate marketing departments whose goal is to satisfy customer needs and desires. Interestingly some of these departments include sales departments with additional responsibilities. While this sales department can be found in some organizations today, many other organizations have structured themselves to becoming marketing organizations having a company-focus on customers. Since the entire organization aim is for the satisfaction of customer needs and wants, other departments in the organization cannot abandon any customer issue by declaring it as a marketing department problem. This involves the contribution of every personnel in the organization to be concerned with the satisfaction of customer needs and wants. The marketing concept relies on marketing research so as to be able to define market segments. To satisfy those needs in the market segments, the marketing department makes decisions about the controllable parameters of the marketing mix.
1.2 Statement of the Problem
The business environment is fast evolving from one, where companies get to dictate the types of products and services produced to one where consumers get to decide what they want to be produced. Therefore, in a day and age where competition amongst businesses is rife and consumers are spoilt for choice, it is important for any company that hopes to maximize sales volume to get right what the customers want .However, small scale businesses as observed by Onwukwe (2018) are unable to realize good profits margins, dispose off their excess stock, recover the cover the cost of operation on time, and command a reasonable market share due to their inability to generate higher sales volume; this is majorly because of the marketing concept they adopt. Market concept is an orientation that emphasizes on the need to achieving organizational goals is in first understanding the needs and wants of target markets and then adapting itself to delivering the product or service satisfactory, more efficiently and effectively than its competitors. It has being noticed that consumer needs are numerous and cannot be easily satisfied. This problem is to find out the influence of marketing concept on human needs, in what ways can marketing concept be used ,in order to solve human needs and what are consumers perception of marketing concept in meeting their needs? Although there are many literature on marketing, only few has focused on how relented small businesses can utilized it to influence sales growth of their business. Upon this background, the researcher embarked on the study.
1.3 Objectives of Study
The broad objective of the study is to know the impact of marketing concept on sale growth (case study of relented small scale business), specifically the objective include:
- To examine whether promotion strategy affect marketing objectives.
- To establish whether product quality influences policy of the competitors and enhance sales.
- To determine whether affordable pricing strategy influences sales growth in small business
- To examine whether combination of all marketing concept influence high sales performance of small businesses.
1.4 Research Questions
The research is guided by the following questions
- Does promotion strategy affect marketing objectives?
- Does product quality influences policy of the competitors and enhance sales?
- Does affordable pricing strategy influences sales growth in small business?
- Does the combination of all marketing concept influence high sales performance of small businesses?
1.5 Research Hypotheses
The hypothesis below are stated in the null form are formulated for the purpose of the study:
- Ho: The combination of all marketing concept does not influence high sales performance of small businesses
- Hi: The combination of all marketing concept significantly influence high sales performance of small businesses
1.6 Significance of the Study:
This study is carried out because it was intended to help in solving a problem(s), and if the problem is solved, it will benefit those who are affected by it.
It can be seen from the problems that small scale businesses difficulties are identified to be marketing strategies. It is then hoped that this study will help the company to adopt better marketing strategies that will improve the overall marketing performance of products and equally enable them to realize their business objectives as well as utilize all their opportunities. In addition to this, the recommendations made would provide initial steps in major decision areas facing the company, such areas includes; decision on the determination of .the present marketing strategies that can be used by small scale businesses to improve the performance of its products in the market place, and also for vital expansion of business activities. In addition, the study will enable the readers to know that the success of a business depends on good marketing strategies that will promote good image for the company and as well increase their sales revenue.
It will also widen the marketer’s knowledge about the various marketing strategies available and how they can be effectively applied to any company’s products so as to improve the performance of their business.
1.7 Scope of the Study:
The study covers the different marketing strategies with regard to the 4p’s for improved performance of relented small scale businesses.
1.8 Limitation of the Study
Like in every human endeavour, the researchers encountered slight constraints while carrying out the study. The significant constraint was the scanty literature on the subject owing to the nature of the discourse thus the researcher incurred more financial expenses and much time was required in sourcing for the relevant materials, literature, or information and in the process of data collection, which is why the researcher resorted to a limited choice of sample size. Additionally, the researcher will simultaneously engage in this study with other academic work. More so, the choice of the sample size was limited as few respondent were selected from small scale businesses in Lagos State to answer the research instrument hence cannot be generalize to other small scale businesses outside the state. However, despite the constraint encountered during the research, all factors were downplayed in other to give the best and make the research successful.
1.9 Definition of Terms:
Marketing Concept:
The philosophy which states that customers satisfaction is the economic and social justification for a firm existence.
Marketing Strategies:
A consistent, appropriate, and feasible set of principles through which a particular company hopes to achieve its long – run customer satisfaction and profitability objectives in a particular competitive environment.
1.10 Organisations of the Study
The study is categorized into five chapters. The first chapter presents the background of the study, statement of the problem, objective of the study, research questions and hypothesis, the significance of the study, scope/limitations of the study, and definition of terms. The chapter two covers the review of literature with emphasis on conceptual framework, theoretical framework, and empirical review. Likewise, the chapter three which is the research methodology, specifically covers the research design, population of the study, sample size determination, sample size, abnd selection technique and procedure, research instrument and administration, method of data collection, method of data analysis, validity and reliability of the study, and ethical consideration. The second to last chapter being the chapter four presents the data presentation and analysis, while the last chapter(chapter five) contains the summary, conclusion and recommendation.
Chapter Five
Summary, Conclusions and Recommendations
5.1 Summary
The study’s overall objective is to examine the impact of marketing concept on sale growth (case study of relented small scale business) in Lagos State. The study further ascertained whether promotion strategy affect marketing objectives, establish whether product quality influences policy of the competitors and enhance sales., determine whether affordable pricing strategy influences sales growth in small business and examine whether combination of all marketing concept influence high sales performance of small businesses.
The research adopted the survey descriptive design and with the aid of convenience sampling method, the researcher conveniently selected eighty (80) participant who are staff and management relented small scale business in Lagos State.. Self- structure questionnaire was issued to the respondent of which seventy-seven (77)responses were retrieved and validated for the study. The study made use of of descriptive analysis and inferential statistics where data from field survey was analyzed using simple percentage in frequencies and tables. Hypothesis test was conducted using Chi-Square Statistical Package for the Social Sciences (SPSS v.23).
5.2 Conclusion
Marketing is one of the key ways in which companies try to create awareness of their products or services. Marketing is undertaken through the five key elements known of the marketing mix. With the everrising significance of the financial sector, there has been a rise in pressure for efficient marketing management and regulation of company’s financial services. Therefore it is vital to point out that marketing strategies are very important in the long run performance of an organization.
The study found that marketing strategy (product, price, promotion and place,) were significantly independent and joint predictors of business performance. Each one has its unique contribution and impact to the performance of the small Businesses. This also shows the importance of the marketing strategy no matter how small the Business may be. Its performance is proportionately depends and goes with the marketing strategy applied. Findings also concludes that :
- Promotion strategy affect marketing objectives.
- Product quality influences policy of the competitors and enhance sales.
- Pricing strategy influences sales growth in small business
- The combination of all marketing concept influence high sales performance of small businesses.
5.3 Recommendation
From the findings of the study, the researcher recommends thus:
- The study therefore recommends that since small Businesses have high potential and opportunity for growth, instituting appropriate and adequate measures of marketing strategy in their Business practice will go a long way in Business success. This is also coupled with the emerging economic nature of the country which if marketing strategy is properly utilized, there is no doubt for improved performance.
- Companies should engage in extensive research, to find out the actual needs of the consumers in relation to what should be produced. This would go a long way in preventing the production of products which are not actually needed because of its failure to satisfy the needs and wants of the consumers;
- In addition, companies should carry our research on the changing taste of the consumers periodically so as to adjust the already existing product, to meet the dynamic taste of consumers because failure to do so would reduce the product sales and profit;
- Since product innovation helps in reducing cost of consumer goods, small business management should engage in it at regular interval so as to cut down the cost of value analysis strategy which is segment of product innovation.

The Complete Material Will Be Sent to You in Just 2 Steps
Quick & Simple…
![]()
Make Payment (Through Transfer) of ₦6,500 to the Account Below
![]() | Acc No: 0811003731 |
| Samphina Academy | |
| Current Account |
Or CLICK HERE To Pay With Debit Card
| FOR STUDENTS OUTSIDE NIGERIA | |
| CLICK HERE To Pay With Card ($15) | |
| FOR GHANA STUDENTS (GHS 100) | |
![]() | MTN MoMo |
| 0553978005 | |
| Douglas Osabutey | |
![]()
Send the Following Details on WhatsApp ( 07062590260 ) After Payment
- Payment Details
- TOPIC: The Impact Of Marketing Concept On Sale Growth
The Complete Material Will Be Sent To You On WhatsApp After Receiving Your Details
T & C Apply
Students Review
List of Related Works
Application Of Marketing Concept In The Nigeria Public Sector Industry
Impact Of Marketing Concepts On The Performance Of Commercial Banks In Nigeria
The Need For The Application Of Marketing Concept In Government Establishment
The Impact Of Application Of Marketing Concept In The Nigeria Public Sector Industry
The Significant Of Marketing Concept To Retailing (A Case Study Of Cadbury Nigeria Plc)
The Effectiveness Of Marketing Concept On Buyer’s Behaviour Of Consumer Product
Marketing Concept And It’s Application In Customer Services
Marketing Concepts A Sure Way Of Enhancing Growth In The Sell Of Insurance Services
Effect Of Marketing Concepts On The Growth Of Banking Industry (A Case Study Of Zenith Bank Plc)
Application Of Marketing Concepts In Banking Industry And Its Effect On Customer Satisfaction
The Application Of The Marketing Concept In The Marketing Of Agricultural (Poultry) Products
Application Of Marketing Concept In Service Industry
The Application Of Marketing Concept In The Nigeria Public Sector Company
The Application Of The Marketing Concept In The Marketing Of Agricultural Products
An Evaluation Of Marketing Concept In The Banking Industry
The Importance Of Marketing Concept In The Development Of A Business Organization
Application Of Marketing Concept In Banks And Its Effectiveness In Consumer Satisfaction
Impact Of Marketing Research In A Small Scale Company
The Impact Of Marketing On Agricultural Development In A Developing Country
The Impact Of Marketing Strategies On Productivity
The Impact Of Marketing In The Development Of Tourism (A Case Study Of Enugu State)
The Impact Of Marketing Strategy On Productivity Of An Organization
The Impact Of Marketing Research As An Avenue For Profitability
The Impact Of Marketing Research Activities On The Financial Services And Delivery In Nigeria Banks
The Impact Of Marketing Research On Decision Making
An Assessment Of The Impact Of Marketing Segmentation On Production Planning In An Organization
The Impact Of Marketing On Financial Institution (A Case Study Of First Bank Nigeria Plc. Ilorin.)
The Impact Of Marketing Activities On Deposit Mobilization And Profitability In Nigeria Banks
The Impact Of Marketing Communication On Sale Of Consumer Goods
The Impact Of Marketing Information System (MIS) On Marketing Decision Making In The Organizations
The Impact Of Marketing Information System On Managerial Decision Making
The Impact Of Marketing Strategy In The Banking Industry Of Nigeria



