The Impact Of Marketing Planning And Strategy On Sales In An Organization (A Case Study Nigerian Bottling Company Plc Benin City)
This research work was carried out with the view to investigate the impact of marketing planning and strategy on sales in an organization with special focus on Nigerian Bottling Company Plc Benin City, as a case study. The research work was divided into five chapters, chapter one deals with the background of the study, statement of research problem, objective of the study, scope of the study, purpose of the study, significance of the study.
The research deals with the literature review with the view provide future users with the knowledge and framework for understanding marketing concepts which helps the organization in achieving the stated objectives without hitches or difficulties. The research also deals with research methodology and the main research instrument used for collecting data was the questionnaire and the sample was drawn from the staff of Nigeria bottling company Plc. Again, the research deals with data presentation, analysis and interpretation and finally it deals with summary of findings, recommendation and conclusion.
1.1 Background of the Study
The practice of marketing is a crucial human invention. It is set of activity which facilitates exchange transaction involving economic goods and services for the ultimate purpose of satisfying human needs (Ihionkhan, 2008).
Sellers and buyers sought to understand each others needs, wants, capacity and psychology with the goals of getting the exchange of goods and services to take place. Such meeting place embodied many aspects of today’s marketing methods such as marketing planning and strategy.
The role of marketing planning and strategy on sale cannot be overemphasized in a hostile and increasing competitive environment. The ability of any business organization like Nigerian Bottling Company Plc, Benin City to achieve profitable sale is impacted by effective and efficient marketing planning and strategy.
According to Dale et al (1995), marketing planning is simply a logical sequence and series of marketing objectives and the formulation of plans for achieving them while marketing strategy is the process which involves not only the coordination of the traditional element of the marketing mix but also the other organizational functions.
Marketing planning and strategy is a specialized management function involves the setting of marketing goals and objectives, implantation and evaluation of marketing plans, developing, package, pricing, distribution, promotion, marketing research and sales forecasting.
The overall purpose of marketing planning and its principal focus is the identification and creation of competitive advantage (MC Donald, 1984).
Business organizations generally go through some kind of management process in developing marketing planning and strategy. However, this research will investigate the marketing planning and strategy in Nigerian Bottling Company Plc Benin City.
A marketing strategy is a method by which a firm attempts to reach its target markets. Marketing strategy starts with market research, in which needs and 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. However, quantifying the return on investment from marketing expenditure on activities such as advertising, promotion and distribution is one of the most complex issues facing decision makers. Marketing performance is central to success in today’s fast moving competitive markets, and measuring marketing’s performance is critical to managing it effectively.
1.2 Historical Profile of Nigerian Bottling Company (NBC)
The Nigerian Bottling Company Ltd is one of the biggest companies in the non-alcoholic beverage industry in the country and is the sole franchise bottler of The Coca-Cola Company in Nigeria.
The company serves approximately 160 million people by producing and distributing a unique portfolio of quality brands, bringing passion to marketplace implementation, and demonstrating leadership in corporate social responsibility.
NBC Ltd started operations in Nigeria in 1951. Based in the city of Lagos, they operate 13 bottling plants across the country. In addition, they channel products through 59 warehouses and distribution centers.
The company employs about 4,800 people and indirectly supports the jobs of up to more than a million more in our value chain.
The company aims to be our customers’ most preferred supplier, and conduct programmes to support more than 450,000 customers who sell our products to consumers.
The company is part of the Coca-Cola Hellenic Group, one of the largest bottlers of the Coca-Cola Company’s products in the world, and the biggest in Europe. Coca-Cola Hellenic operations span 28 countries, serving more than 570 million people. The company is headquartered in Athens and listed on the Athens, New York, and London stock exchanges.
The company produces, sells and distributes a wide range of beverages, most of which are trademark products of the Coca-Cola Company. The company product’s portfolio consists of:
leading brands Coca-Cola, Coca-Cola light, Fanta and Sprite
local brands such as Schweppes, Five Alive, Limca and Eva
The company continuously reviews opportunities to expand our product portfolio in order to offer consumers in Nigeria an increasing range of choices. Every measure is taken to ensure that The company’s products are of the highest quality.
1.3 Statement of the Problem
Marketing planning and strategy is used virtually by various business organizations. In most cases, there is always a problem in analyzing and evaluating the usefulness of marketing planning and strategy in an organization. Some of the key issues to address are:
- To verify if the strategic steps are being adopted by the company to obtain their set goals and objectives.
- Another major problem is the inability to identify the result of any given plans. Since planning can only be valued when economic and their market condition pose challenges to managers.
- The poor method of marketing planning and strategy by the company in achieving their marketing activities.
- To verify if marketing planning and strategy is in operational.
- To ascertain whether or not marketing planning and strategy is one of the key corporate survival in the long-run.
- To determine whether strong competition to make marketing planning in an organization look like a wasteful exercise.
- To determine whether marketing strategy encompasses selecting and analyzing a target market.
1.4 Objective of the Study
- To find solution to the problems encountered during the executive or implementation of the plans.
- To present a detailed analysis of the role of effective marketing planning and strategy in an organization, using Nigerian Bottling Company Plc Benin City.
- The main objective of the study is to explore and determine the process of the modern marketing planning and strategy in an organization like Nigerian Bottling Company Plc Benin City.
- To probe the effectiveness and efficiency of using marketing planning and strategy as a tool to increase sales in an organization.
- To clarify and investigate the misconception and criticism held about marketing planning and furnish marketing managers with the benefits of marketing planning and strategy.
- To evaluate and analyses the importance of effective marketing planning and strategy in relation to sales.
- To provide ways of solving marketing problems, thereby achieving organizational goals and objectives.
1.5 Research Questions
- Is there a significant relationship between marketing planning and originations sales?
- What marketing strategy techniques do most organization adopt in Nigeria?
- Does marketing planning and strategy have positive impact on sales?
- Does marketing planning and strategy depend on management efficiency?
- Has the organization under study adopted the best marketing planning and strategy among her competitors?
1.6 Scope of the Study
This research work is limited to the impact of marketing planning and strategy on sales using Nigerian Bottling Company Plc Benin City as a case study.
The study is set to analyze how planning, strategy, implementation and control of marketing efforts can be investigated to obtain the objectives of the organization.
This study will enable the researcher to find out how the organization has been able to apple marketing planning and strategy effectively and to suggest ways in controlling deviations.
1.7 Significance of the Study
Due to the economic necessities, the complex of modern business activities, the dynamic and ever changing nature of market environment, the high rate of inflation, its has become imperative to adopt marketing planning and strategy in order to control the trend in the complex and competitive economy.
Another significance of the study is that, the competitive nature of business activities demands that companies and business organizations should apply marketing panning and strategy measures that will increase marketing shares (sales)
1.8 Limitation of the Study
During the conduct of the study, some factors posed challenges to the researcher. These include:
Financial constraint: This is the major factor that limits the extent to which the research work was conducted. Traveling expenses were incurred in getting materials and typing of questionnaire and the distribution of the questionnaires.
Time is another factor that posed hindrance in carrying out this research work.
Management restriction often does not allow access to information that is considered very confidential like details information of the organization profile. As a result of this restriction, the researcher was not able to get full information that was considered vital.
The attitude of the respondent in giving out information was another limitation. The researcher mainly used the information that was given.
1.9 Definition of Terms
For proper understanding, many terms will be used in this study; the terms are defined as follows:
Management is the effective and efficient utilization of organization resources so to achieve its predetermined goal (IKharehon J.I. 2005:4)
Baridan (1990) defined management as getting things done through people. This he said to do with the planning and directing of effort towards a common objective.
Efficiency is concerned with the cost of achieving more results with less than a proportionate increase in inputs in the attainment of organizational goals and sustainability of organizational existence.
Effectiveness means the ability of an organization to achieve its goals. It is reasonable to say that, ineffective organization is one that is unable to achieve a goal.
It is the pre-determined actions designed to increase consumer demands stimulate market demand or improve product availability for a limited time.
Market consist of individual and organizational activities designed to sense and serve the consumer’s need and to facilitate and expedite exchange with the view to achieving the goals of the individual or organization through the satisfaction of the consumer’s need (Agbonifo et al, 1998).
Strategy is a means of operationalizing policy and for achieving some predetermined objectives.
Anao, (1979) explained that, strategies are schemes, methods, maneuvers which management hopes to deploy in order to move the organization from its present position to arrive at its target goals.
Planning is an intellectual, the conscious determination of course of action the basic of decision on purpose, fact and considered estimate. To plan is to forecast into the future that is using related facts and assumptions.
The marketing mix is that particular blend of controllable marketing variables that a marketer uses to achieve his objective in a particular market segment. The four basic elements in the marketing mix are the product, price place or distribution and promotion. These four elements are popularly known as the 4ps (Ihiokhan P.A, 2008:12).
This is defined as the systematic management process of introducing the identification and assessment of marketing problem, opportunity and organization capacity, the selection of target markets and formulation of marketing objectives (Festus, 2005:14).
Summary of Findings, Conclusion and Recommendation
5.1 Summary of Findings
After a careful analysis of data in the previous chapter of this study from the questionnaire administered and interview conducted by the researcher, as regard the research study, the impact of marketing planning and strategy on sales, a case study of Nigerian Bottling Company Plc, Benin City, the researcher summarized the findings as follows:
- That the company has a formal planning and strategy techniques upon which the success of the organization under study revolves.
- That management should be properly trained in the field or marketing. This will enable the organization to make the best use of resources available to meet stated market requirement.
- It was discovered that, for an organization to experience sales, a good or effective marketing planning and strategy have to be set in place.
- It was also revealed that, the standard of marketing planning and strategy being formulated and implemented, goes a long way to tell if the management is efficient or not.
- The study revealed that planning and strategy enable management to be focused and also to take appropriate decision in a given circumstance.
- It was discovered that an adequate marketing plan should also have a corresponding marketing strategies i.e. planning and strategy are ties together in achieving the best result.
The role of marketing planning and strategy of sales cannot be overemphasized.
This can be buttress by the fact that marketing planning and strategy is a specialized management to help to formulate, implement and evaluate marketing activities.
However, the impact of marketing planning and strategy in Nigerian Bottling Company Plc has revealed the following:
The company actually operates a good marketing planning and strategy.
The marketing planning and strategy is not only a major management function but also the cornerstone, upon which organization can succeed in terms of growth and development. This Nigerian Bottling Company Plc should recognized and pay greater attention to its implantation of marketing planning strategy.
Marketing planning and strategy enhance the success of marketing department.
Consequently, any organization that fails to plan and strategize marketing efforts may result to a loss of organizational market scheme. But putting this in place will enable the organization to be in market for a long time.
Based on the analysis of findings in Nigerian Bottling Company Plc, the following recommendations are made to eliminate the weakness identified.
- The company should integrate corporate planning with marketing plan.
- Effective communication network should be put in place. This enable middlemen, distributors and sales force of the company to furnish the marketing department with information on the present market condition.
- To avoid the incidence of conflicting goals and objectives, a high degree of mutual trust and understanding which act as the life-link of an organization should be built among the various department of the company.
- Market planning and strategies should include motivation scheme for workers in the department.
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