The Impact Of Personal Selling In Achieving, Organizational Objective (A Case Study Of Mutual Benefit Insurance Company Plc Owerri)


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Project and Seminar Material for Marketing

Project and Seminar Material for Marketing


Dedication


I dedicated this project to God Almighty who saw me through during the project writing period and also my academic which without him would not have been successful.

I am indebted to my lovely parents MR. GROFFERY NWOKO and to my late mummy KUBURA NOWOKO for their prayers upon me and also to my brothers and Sister Nwoko Chibuzor, Nwoko Chisara, Nwoko Chigozie for their financial support and also normal support on this work.


Acknowledgement


This study would not be completed without mentioning those who have contributed directly or indirectly to its success.

My sincere appreciation goes to my project supervisor Mrs. Oparaku .L. who spent his time in reading through the manuscript and also his constructive and objective criticism with direction and guidance to make this project a success.
I am really indebted to my HOD Mr. Egu. A.O and all my lecturers in the department of marketing for impacting educative knowledge to me.

Finally I wish to extend, my gratitude to all my entire family and to my colleagues and friends.

My greatest acknowledgement goes to my grand mother Mrs. Matilda Nwoko.

I say may God bless them all Amen.


Abstract


The research aim of working in the impact of personal selling in insurance marketing in Nigeria mutual benefit insurance company Plc Owerri is the case study the research aim of finding, the ideal of personal selling is distribution of insurance service.

It is required in finding prospect convincing to buy and keeping customer satisfied. When the above mentioned is achieved, there will be increase in sale volume and steady market growth. The researcher highlights the limitations, problem scope purpose of the study and also review some related literature which formed the backbone of this research work.

It also explain the research methodology to enable the reader know the design and steps taking in making the findings.


Table Of Contents


  • Title page i
  • Approval page ii
  • Dedication iii
  • Acknowledgement iv
  • Abstract v
  • Table of content vi

Chapter One

  • 1.0 Introduction
  • 1.1 Background of the study
  • 1.2 Statement of problem
  • 1.3 Objective of the study
  • 1.4 Research question
  • 1.5 Scope of the study
  • 1.6 Significance of study
  • 1.7 Limitation of study
  • 1.8 Definition of terms
  • References

Chapter Two

  • 2.0 Literature review
  • 2.1 Salesman recruitment
  • 2.2 Types of sales person
  • References

Chapter Three

  • 3.0 Research methodology
  • 3.1 Introduction
  • 3.2 Research design
  • 3.3 Sources of data
  • 3.4 Population and sample size
  • References

Chapter Four

  • 4.0 Data presentation and analysis
  • 4.1 Presentation of data

Chapter Five

  • 5.0 Summary of finding , Conclusion and Recommendation
  • 5.1 Summary of finding
  • 5.2 Conclusions
  • 5.2 Recommendations
  • References
  • Appendix
  • Questionnaires

Chapter One


1.0 Introduction

1.1 Background Of The Study

Insurance business is know as business which does not sell a concrete items like a motor car but exist mainly to provide the insurance public with a system of protection against finical losses arising from accidental and unexpected events.

It is difficult most time to convince consumer to buy their product after advertising. This now resulted to the use of personal selling as a strategy which they use in order to work on the customer because customer have a normal tendency resist buying most things that are not essential for their need, when the massage of the advertised product is not clear or understood at this point personal selling being a direct communication. In order to make substantial effort to induce the prospect and customer and to stimulate their interest to like and believed in the company’s product by directly education. The customer on the usefulness of the product well as various terms used by insurance company.

Owing to the fierce competition among insurance companies, which led to the innovation and revolution stage, the use of personal selling as a strategy in order to make consumer to by their product is not only to sale and collect cash, but it is also used as a tool in educating consumer on the product. Meanwhile, personal selling is an arm of promotion which is one of the marketing mix in other aspect of promotion and public relation. However, personal selling effort is made easy to other arms of promotional mix. The impact of personal selling will vary from business. It can be one of the most expensive ingredients of the promotional mix.

Though the cost of salaries, commission, travel and hotel expense are huge. It’s usefulness out weight the cost of the operation of personal selling.


1.2 Statement Of Problem

This study is not an exceptional bearing in mind that personal selling in never giving the seriousness it deserves in insurance organization in terms of training of sale people, payment of right salaries / commission and recruitment of the right sale people even the buyer cannot realize the relevance of personal selling both in their well being and that of the society on the whole.

The research undertakes this piece of work so as to establish convincing facts is to the importance of personal selling to the succession of insurance company.


1.3 Objectives Of Study

  1. To determine whether personal selling make the buyer buy product they don’t really need
  2. To know if personal selling make the buyer buy product at higher cost
  3. To determine whether personal selling have helped the buyer
  4. To determine the promo tool that captivate the interest of the mutual benefit insurance company more
  5. To know the promo tool that move the seller more.

1.4 Research Question

  1. Does personal selling make the buyer to buy product they don’t really need?
  2. Does personal selling make the buyer to buy product at higher cost?
  3. In what ways has personal selling helped the buyer?
  4. What promo tool captivate the interest of the buyer?
  5. Which promo tool move the buyer more?

1.5 Significance Of Study

The organizations translate what the people need and want into product. Having ascertained what these needs and wants are it is not enough to produce the product that will satisfy the needs of the consumer if this is done without attaching it with proper price and marking the available when and where they are needed.

Personal selling is within the telecommunication aspect of market. The other aspect of marketing communication involves advertising sale promotion publicity and product packing. The mentioned area. of marketing promotion individually and collecting work to water the ground for personal informing, persuading and reminding target customer about the firm and its products.

Personal selling is generally one of the tools of marketing communication it is a unique promotional tool in the sense that it is a marketing programmed with the ultimate aim of converting a company’s output to immediate cash. Personal selling occupies a tire pre relent position in marking and it quickly identified its prospective buyers persuades them to physically exchange a parts of their money for the output of firm.


1.6 Scope Of The Study

The scope of the study is limited to some insurance co-operation limited Owerri which head quarters is located at WO 14116 alibiobi street box 2094 Lagos state. Mutual benefit insurance was the co-operate in the year 1970 the Chief executive S.B ifatujosine has made effort by opening braches in other parts of the state which include Jos, Enugu, Port-Harcourt, Ibandan, Onitsha, and Abuja.


1.7 Limitation Of The Study

This study will examine the impact of personal selling in achieving organizational objective in Nigeria with in emphasis on mutual benefit Owerri. Research of this nature generally involve, coat in terms of survey questionnaire administration, collection of data and the promotion of the research work.

As a student those coat because more glaring and financial difficult to settle and therefore stretched the financial resource of the researcher there were the problem of watery and prejudice dispraising from the ignorance of the respondent, of the bass of the study some respondent never understood what were required of them and why the research was being conducted.

Another limitation of the study was the time constraint which did not allow for the boarding of the sample which would have increase the validity and reliability of the result of the study.

There was also the non-availability of text-book journals magazines, newspapers, covering the topic under investigation attentive calculated against the staff response to enable the researcher to assign percentage weight to each alternative with the highest percentage.


1.8 Definition Of Terms

1). Personal selling:

This is an act of successfully persuading prospects or customer to buy from which they can derive suitable benefits.

2). Forecasting:

This is a means by which company through whatever value of post sales people ascertain the volume of product they will assign to them in future.

3). Customer:

They are those that use a particular product without buying another.

4). Selling:

This is the personal presentation of tangible or intangible services and ideas of significant potential customer


I bet you, the complete material is fully loaded. This is just an excerpt. The Material is in MS-Word Format which you can easily edit and is comprehensive for a complete research work for this topic


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How to nail it on the head during your project defence


You are through with writing that project. Now what?

You have found yourself at that point where you have to defend what you have written. Of course you have to stand in front of your supervisor and other literary personalities to prove that you know what you wrote in your project paper. Unfortunately, the more you think about it, the more it looks like you are about to face a legion. It is not a war. But the emotion of dread welling up inside of you makes it look like one. So now you are asking yourself questions.

  • How am I going to start?
  • I hope I will do well enough to get an A.

You really want to nail it, but you need to come to terms with exactly how to get everything in perfect control. Especially your emotions of fear that seem to make a wreck of you every time you think about public speaking.
So here is the deal. I want to help you avoid that feeling that would ruin your precious moment if you dare to let it. And we are going to do it together.

I am going to highlight some very important tips to help you get in control for you to be comfortable enough to move from that feeling of DREAD to CONFIDENT; and making an awesome Impression for that great rating your supervisors should be giving to you so freely.

Consider these tips as you prepare for your defence. We will be taking them one after the other so here we go.


Watch Your Body Language And Keep It Confident:

Can you tell that a person is falling apart if they look confident? … If I can second guess you rightly, am sure you answered no to that question. Remind yourself that you need to come out that way. Now this might seem like a huge big deal when you are dealing with the foreboding. Maintaining a poise of confidence is very important. So find your most comfortable position, sitting or standing and draw up your body. You must exude confidence. It is something you need to do for yourself. People can only see what you allow your body language to show. So you must endeavour to put that out. Remember the story of David and Goliath? … At the end of your defence day, you want to be David.


Dress In Your Most Comfortable And Impressive:

Am sure this one is a no brainer. However I must highlight that you choose comfortable pieces. You don’t want to look so good and yet look like you were forced to wear something that does not belong to you. It’s great to ensure that as impressive as your clothes are on you, that they are also very comfortable.


Speak With Authority:

Going hand to hand with that aura of confidence is your most powerful asset:your words. If you look that confident, your words must not come out like whimpers. To be able to pull this off, you definitely need to speak as deliberately as possible in expressing yourself. Let them also hear what they see.


Use, Your Gestures:

I have often found this to come to my rescue in dealing with shyness and conveying my confidence. Usually it gives you an edge to also drive home your point. You must, however, ensure that you do not over use it. It doesn’t mean that your hands should be flying all over the place. That would be absolutely unnecessary. If you do this well, after a while you will realize that you are not as self-conscious as you used to be at the very start. For most situations, it would have completely disappeared altogether; leaving a really confident you talking.


Have A Good Opening And Closing Line:

Make sure you have perfected a good opening line. You should also be armed with a good closing line too. Try and rehearse it to a friend. If for the first time you presented it, your friend does not say “wow, that’s beautiful” or something like that; just know you need to keep refining it until you get the perfect line. Both opening and closing lines will go a long way in how impressed your panel gets to rate you high.


Make Sure You Know Your Work:

Certainly you should understand how important it is to know your own work from start to finish. Not having in-depth knowledge of your own work is tantamount to a suicide mission. Why should you kill yourself?
When all is said and done, this is what you came to defend in the first place. You should know your work from A to Z.


Prepare For The Questions:

Now this part is truly essential. You must be sure you do not floor all the good work you did on your presentation by not answering correctly. You must pay attention to the questions you are asked to be sure you will give the right answer. Many people get it wrong at this stage and spoil their good presentation. When you do not understand any question do endeavour to ask the person to expatiate what they mean before you answer.


These tips are by no means exhaustive, but applying these tips will give you some necessary advantage you need for a great outcome. Of course that outcome would mean that you eventually earn all your points on this project.


The structure of a good project work


Undergraduate projects in Nigeria is a prerequisite for graduation amongst Nigerian tertiary students who will which to obtain bachelors degree in their respective courses of study such as accounting, banking and finance, business administration and a host of others. Writing an undergraduate project in Nigeria for final year students entails a lot both financially and otherwise. Being able to develop any final year project depends on getting a researchable topic whether it is Accounting Undergraduate project topics, Banking and Finance research topics or banking and finance project topics and materials and it all requires diligent hard work of students who are willing to develop best undergraduate projects in Nigeria and graduate in flying colors.

A typical Undergraduate project in Nigerian tertiary institutions can be said to be divided into five or six chapters depending on the format of the school and course of study which are


1. Introduction

The introduction of an undergraduate project states the main research problem and research argument. What precisely the study is all about and why it is important. It looks at the originality of the research work and how it will fill the gap in other studies. Justification for a research undergraduate topic should not be lengthy before it has been explicitly stated.

Below are the contents in chapter one of an undergraduate research project which includes;

  • Background of the study,
  • Statement of the problem,
  • Objectives or aims of the study,
  • The research questions,
  • Research hypothesis,
  • Significance of the study,
  • Scope of the study,
  • Limitations of the study and
  • Operational definition of terms.

2. Literature review

Literature review of any undergraduate research work, be it business administration project topics or Economics project topics just to mention a few is very critical to securing a high grade in one’s project work. The literature review of a research process uncovers what other writers have written about the student’s topic. A student’s undergraduate research work should include a discussion or review of what is known about the subject and how that knowledge was acquired. The review could conclude with a brief summary of the literature and its implications. The contents of the literature review are the theoretical review, conceptual framework, empirical review and summary of literature review.

3. Research Methodology

This section includes a description of the research methods used in the undergraduate research work such as the sample size, data collection methods, measurement instruments, research data analysis procedures and the population from which the sample was selected.  This section also describes the method used in selecting the sample or samples, validation and reliability of the instruments used in the research work. There are different research statistical techniques used in undergraduate research work such as SPSS, e-views etc.


4. Results & Discussion

This section presents and discusses the data analysis results used in an undergraduate research work, the results of each analysis is being summarized, tabulated, and then discussed for each research question.  Then for each research hypothesis, the statistical test of significance selected and applied to the data is briefly described, followed by a statement indicating whether the hypothesis was supported or not supported.  In presenting the result analyses/summary in an undergraduate project tables and figures and or graph are used to add clarity to the presentation.


5. Summary, Conclusions And Recommendations

This section summarizes the findings of the study in an easy to understand manner.  It also explains the practical implications of those findings, and points to recommended directions for future research in that area.


References:

This is where every source cited in the undergraduate research work is being included. Every undergraduate research work must be properly referenced for its authenticity.


Choosing A Good Project / Research Topic


Students in Nigerian universities these days wish to choose a very simple project topic/material. There is no issue choosing a simple project topic; the only problem is your ability to choose a good project or research topic that your supervisor will easily approve for you.

Most project supervisors really want to see how good his or her project student understands his or her surrounding through the kind of topic he or she chooses for their project work.

There are some project topic that are not reject-able; for instance in Nigeria of today; what do you think is the major issue on ground now?

If a project student can choose or craft a topic on the effect of dollar increment on the economy of Nigeria. Such project topic will be very interesting to write on.

Now what are the qualities of a good project topic?

  1. The materials for the project topic must be easily assessable.
  2. The project topic itself must be meaningful.
  3. The variables must be able to give a clear aim of the project topic.

What do I mean by variable?

Well I am deriving my point from the area of project writing; the variables here are those main words in the project topic.

Like the above project topic; the effect of dollar increment on the economy of Nigeria. You can see the main variables that really define this project topic are:dollar, increment and economy.

Before you present your topic to your project supervisor, first of all understand your project topic, and then secondly try to do some research for your topic to see if at least you can get up to 60% of what you need to write the complete project.

I said that above because you might have a very nice topic that the materials are not available online and there are no books as regard the topic; in this case the project topic becomes difficult for you even though the topic is catchy.

What do I mean by your topic being assessable?

Well what I mean is very simple and easy to understand. Simply pick your project topic, type it on google and see if you will have at least a good background for the topic you are writing on.

If you can have a good background for your project topic and you can understand the problem associated with the project topic, then I believe the aim of the project is not far-fetched.

SAMPHINA ACADEMY

SAMPHINA ACADEMY

Samuel Obiora Blessed is the CEO and founder of Samphina Academy (samphina.com.ng) a.k.a Nigeria Students Media, the youngest engineering graduate of Federal Polytechnic Nekede in 2017 and the engine brain behind this great platform. He is the man behind the scene, filled with many potentials, a musician as well as a pro developer with the interest of Nigerian students at heart.

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