Marketing Mix As A Tool For The Survival Of A Business Organization
This study is on marketing mix as a tool for the survival of a business organization. The total population for the study is 200 staff of Nigeria bottling company, Abuja. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made up production managers, human resource managers, junior staff and non senior staff was used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies
1.1 Background of the Study
Generally, the society believes that marketing activities start from when the product is made.
However, marketing is an all encompassing scheme, which start from when start from a products concealing to when such product is distributed to the customers.
Marketing as a discipline starts from when a particular producers is beginning to think about, what the people need, after a careful analyze to thinks about the quality of the product (with reference to the customer’s taste).
The packaging material that would be suitable and attractive from such product to the consumers.
All these facts started above can only be derived through marketing research. This research is normally carried out before and after the invention of new product.
The producer cannot just introduce into the marketing is an important aspect he feel like producing such a product would be taking a big leap in the dark. To business formation and growth in even determine the survival of a company or an establishment.
Marketing mix is the mixing together of variable product, process, promotion and place in the right proportion that will enable the marketing product to the carried out in a successful manner anytime. Marketing mix focuses or what to produce in term of life cycle. For instance, it is possible for a manufacturer to start his business very well, taste for a particular product or services may change with time. What seems the best today may be rejected tomorrow.
There is therefore an urgent need for the manufacturer to centrally reveal what the people (consumer) want (product) how they want such a product or service. They are willing to buy such product.
This firm at all time must not disregard the existence of these competitors who have the tendency of marketing their own product better and more acceptable to the public for a business to thrive well and survive. Marketing mix is a time necessary that must be considered and use effectively.
Historical Background of the Nigeria Bottling Company
The name Coca-cola was a pharmacist by name in John Perbetton. He was born in Atlanta Georgia, United State of America in the year 1833.
The idea of Coca-cola was born in 1806 and he died in 1888. Immediately after his death, Mr. Asa Candler took over the business in the same year.
Mr. Frank Robinson selected the Coca-cola trade mark and some other advertising materials which are still in use till date. The standard size 29cl bottle was designed and produced in I, 915 million dollars.
In 1923, Robert Wood RUFF took over the business presently; there are numerous bottling plants in United State of America while more than 35 percent plants are spread all over the West Africa.
Coca-cola first came into inception in Nigeria 54 years ago. Nigeria Bottling Company set up the first plants in Lagos; it is today Nigeria’s number one bottle of soft drink selling more than 8 million bottles per day.
A figure which is still growing with the continue expansion of the opening branches and mini branches in various parts of the country. In 1988 a new dimension was added to the bottling of coke, pet plastic coke, fanta, and sprite was introduced into the other six brands. Fanta, which is the fast orange, sprite is sold in lemon- lime segment action, others are tonic fanta, ginger and krest bottle lemon. The success of coca-cola has brought with it, the development of quite member of sister industries, oil contribution in the economy growth of the country (Nigeria)
They are delth Glass Company in ughali, which supplies empty bottle used for production in the company, the crown cork for the company’s use. The Benin Plastic Company which make crates for easy carrying of the bottles.
In addition, the trucks which supply more than 70, 000 dealers are also assembled in Nigeria. The Company is also the largest manufacturers of C02 (Carbondioxide) used to carbonate the soft drinks. The company employed more than 25. 000 Nigerians in all fields of operations.
1.2 Statement of Research Problem
Marketing concern itself with satisfying its customers at a profit, these activities are therefore, carried out with the aid of duct, place and promotion, which this project is set to look into product management. Product management is essential in marketing mix in order to ensure that a product matches the wants, needs and adjustment to meet market requirements.
Many markets failures can be traced to the inability to manage the product effectively. In addition, pricing strategy being adapted by different company at every stage of production life is very important. For instance, at the very introduction stage, a lot of advertising and campaign strategies had to be adopted by the company to create awareness for the product in the local and international market, if such product is not properly introduced or addressed, it might die prematurely. There are some of the issue that business are failing to address, hence tending to business failure.
1.3 Objective of the Study
Objectives of the study are
- To identify the impact of marketing mix in the business organization.
- To ascertain whether marketing mix is a tool to survive business organization
- To identify the different approaches used by organization to implement marketing mix.
- To ascertain the relationship between marketing mix and growth of business organization
1.4 Research Hypotheses
For the successful completion of the study, the following research hypotheses were formulated by the researcher;
- H0: there is no impact of marketing mix in the business organization
H1: there is impact of marketing mix in the business organization
- H02: there is no relationship between marketing mix and growth of business organization
H2: there is relationship between marketing mix and growth of business organization
1.5 Significance of the Study
It is hoped that his study when successful completed and supervised has a lot of roles to play. The study will basically fill a wide vacuum which is greatly essential practitioner’s experts and scholars in marketing communication and promotion that have been lacking the needed guiding information for their promotion mix decisions; promotional budgeting as well as research studies on promotion. Furthermore this study by its objectives will not only assess the relative effectiveness for sales but also in communication generally. By this the study will be essential useful to the government agents, non- will also serve as a source of resonant information to government agents on the communication tools to be used in communication creating awareness to masses about government programmes and actives. Politicians and charitable organization will also or equally make use of this study in their choice of which tools to employed promoting themselves and their programmes, manifestoes and achievement. A part from those groups marketing executive in various companies in Nigeria have problem in selecting the right promotion tools and in designing their promotional budgets and strategies for their companies. Most of these managers often rely heavily on the guess worker or they simply follow their competitors foolishly without due consideration to their promotion objectives, their product life cycle, position in the industry or the target market which they are aiming at. This study will provide insights to these managers who are having these problems and serve as a rich reference point. Finally, research consultants and individuals have been deprived of excellent performance in communication researcher because of insuffienct and scanty data and inadequate liberations available in this area of study it is hoped that his study when successfully completed will be an addition to the essential literatures needs in this vital area of marketing and entrepreneurship. Researchers will therefore uses it extensively as a sources of their secondary data, based on all these invaluable solutions expected to be derived from this study it becomes indispensable that the need for this study is worthwhile.
1.6 Scope and Limitation of the Study
The scope of the study covers marketing mix as a tool for the survival of a business organization. The researcher encounters some constrain which limited the scope of the study;
a) Availability of Research Material:
The research material available to the researcher is insufficient, thereby limiting the study
The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Organizational Privacy:
Limited Access to the selected auditing firm makes it difficult to get all the necessary and required information concerning the activities
1.7 Definition of Terms
The marketing mix is a foundation model in marketing. The marketing mix has been defined as the “set of marketing tools that the firm uses to pursue its marketing objectives in the target”
A business organization is a person or a group of people working together in pursuit of the same commercial interest
1.8 Organization of the Study
This research work is organized in five chapters, for easy understanding, as follows
- Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study.
- Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature.
- Chapter three deals on the research design and methodology adopted in the study.
- Chapter four concentrate on the data collection and analysis and presentation of finding.
- Chapter five gives summary, conclusion, and recommendations made of the study
Summary, Conclusion and Recommendation
It is important to ascertain that the objective of this study was on marketing mix as a tool for survival of a business organization. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of marketing mix as a tool for survival of a business organization
This study was on marketing mix as a tool for survival of a business organization. Four objectives were raised which included: To identify the impact of marketing mix in the business organization, to ascertain whether marketing mix is a tool to survive business organization, to identify the different approaches used by organization to implement marketing mix, to ascertain the relationship between marketing mix and growth of business organization. In line with these objectives, two research hypotheses were formulated and two null hypotheses were posited. The total population for the study is 200 staff of Nigeria bottling company, Abuja. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made up production managers, human resource managers, junior staff and non senior staff was used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies
Marketing mix – certain actions and decisions aimed at the company’s goals and meeting the customer needs. In these modern times, the company operates in a constantly changing environment. In order to successfully set up and remain profitable it is necessary to provide services that can meet the needs of customers. To this end, the marketing experts who are constantly monitoring the environment and its changes can properly respond and adapt to them. Businesses are very important for users, whose desires should be satisfied. Satisfaction is implemented in decisions and actions related to the 4p complex elements.
The marketing mix strategies adopted by Nigeria bottling company. Should be more emphasized in order to have greater influence on performance. In addition to price leadership strategy, formula based pricing strategy and fixed pricing strategy on retail stations, the firm can also have psychological pricing strategy in various market segments.
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