Below is a brief overview of this Project Work.
Format: MS WORD
| Chapters: 1-5
| Pages: 70
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
An oil lubricant has been a canon product in our society today due to uses of different types of moving objects like motor vehicles. A lubricant “sometimes referred to as lube” is a substance which is often a liquid introduced between two moving surfaces to reduce the friction between them improving efficiency and reducing wear. It may also have the function of dissolving or transporting foreign particles and of distributing heat. The ability of lubricants to lubricate moving parts and reduce friction is what is called lubricity.
According to Chris-C- (2017) one of the single largest applications for lubricants in the form of motor oil is protecting the internal combustion engines, in motor vehicles and powered equipment. He went further to state that typically lubricants contain 90% base oil (most often petroleum fraction, called mineral oils) and less than 10% additives. Vegetable oils or synthetic liquids such as hydrogenated polyolefin, ester, silicon and many others are sometimes used as base oils. Motor Oil or engine oil is oil used for lubrication of various internal combustion engines and the main function is to lubricate moving parts, motor oil also cleans, inhibits corrosion, improves sealing and cools the engine by carrying heat away from moving parts. Now, there has been increase in competition in the oil lubricate market from department companies. However, the application of marketing concept can drive the competition better for any firm irrespective of the numbers of the competitions in the market.
Stanton (2015) observes that the marketing concept is a philosophy of business which believes that the consumers’ want and need satisfaction is the economic and social justification for a firm’s existence. Therefore, all company activities must be devoted to finding out what the consumer needs and wants are, and then satisfying these wants, while still making a profit in the long run Fulmer (2014). Stanton (2015) contented, that by serving a customer well, we are at the same time wanting the consumer to satisfy his needs, and the consumer expects value and higher than the quantity in the products he buys and uses, when a customer fails to gain value from a product in one place, he will go and search for it elsewhere.
Stanton (2015) observes that marketing concept is a marketing strategy accepted with the fact that a consumer’s good judgment cannot be bought but can be freely given in response to gifts of value from the products. The growth of competition has stretched this concept to embrace the importance of adoption or repeated purchases of the product brand and trade mark which determine the success of other use of that product in the market. This project work was carried out in order to determine the consumers’ preference in oil lubricant products whether Mobil, total, A-Z, A/P, Oando etc.
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
An oil lubricant has been a canon product in our society today due to uses of different types of moving objects like motor vehicles. A lubricant “sometimes referred to as lube” is a substance which is often a liquid introduced between two moving surfaces to reduce the friction between them improving efficiency and reducing wear. It may also have the function of dissolving or transporting foreign particles and of distributing heat. The ability of lubricants to lubricate moving parts and reduce friction is what is called lubricity.
According to Chris-C- (2017) one of the single largest applications for lubricants in the form of motor oil is protecting the internal combustion engines, in motor vehicles and powered equipment. He went further to state that typically lubricants contain 90% base oil (most often petroleum fraction, called mineral oils) and less than 10% additives. Vegetable oils or synthetic liquids such as hydrogenated polyolefin, ester, silicon and many others are sometimes used as base oils. Motor Oil or engine oil is oil used for lubrication of various internal combustion engines and the main function is to lubricate moving parts, motor oil also cleans, inhibits corrosion, improves sealing and cools the engine by carrying heat away from moving parts. Now, there has been increase in competition in the oil lubricate market from department companies. However, the application of marketing concept can drive the competition better for any firm irrespective of the numbers of the competitions in the market.
Stanton (2015) observes that the marketing concept is a philosophy of business which believes that the consumers’ want and need satisfaction is the economic and social justification for a firm’s existence. Therefore, all company activities must be devoted to finding out what the consumer needs and wants are, and then satisfying these wants, while still making a profit in the long run Fulmer (2014). Stanton (2015) contented, that by serving a customer well, we are at the same time wanting the consumer to satisfy his needs, and the consumer expects value and higher than the quantity in the products he buys and uses, when a customer fails to gain value from a product in one place, he will go and search for it elsewhere.
Stanton (2015) observes that marketing concept is a marketing strategy accepted with the fact that a consumer’s good judgment cannot be bought but can be freely given in response to gifts of value from the products. The growth of competition has stretched this concept to embrace the importance of adoption or repeated purchases of the product brand and trade mark which determine the success of other use of that product in the market. This project work was carried out in order to determine the consumers’ preference in oil lubricant products whether Mobil, total, A-Z, A/P, Oando etc.
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