Below is a brief overview of this Project Work.
Format: MS WORD
| Chapters: 1-5
| Pages: 71
THE ROLE OF MARKETING STRATEGY IN DETERMINING CONSUMER PURCHASING BEHAVOUR
ABSTRACT
The performance of marketing function basically marrying consumers needs and wants with the appropriate products and services. It is the duty of the form to adopt appropriate marketing strategy to attract customers to it’s products and since it is generally believed that marketing strategy affects the consumer buying behaviour. This project therefore attempts to examine how the use of marketing strategies have generated sales for Hardis and Dromedas Plc following it’s impact on consumer purchasing behaviours efforts are therefore made to show the relationship between sales turnover and the amount spent on marketing activities. The project work is divided into five chapters conveying the introduction, literature review, and research methodology, analysis of result findings as well as recommendation and conclusion, limitation of study which might help to achiever greater sales using marketing strategies. In all special attention is paid to both the company sales record.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Of all business activities of functions none is as interested in the consumer and his purchasing behavior as marketing. Marketing is invariably connected with the research into purchasing behaviaour namely what the consumers want, need prefer and value, who are the prospective consumers and where they live, their in come and made of spending, how and why they make purchase decision and so on. Infact the influencing of the buyer behaviour is the primary task of the marketing department in any organization.
Equally, marketing tries to define the right type of products in terms of the company’s objective and attempts to make it available at the right place and the right price, with right promotions. This the performance of marketing functions involves basically marrying consumer wants and with the appropriate products and services. It is the duty of the firm to adopt appropriate marketing strategy to attract customers to its products. This is important because in a free market economy, the ultimate judge of the firm performance is the consumer.
Consumer purchasing behaviour will determine the face of the enterprise this behaviour can best be described by a marketing manager who can also tell how he will by influenced by market variable such as price, promotion. Product (variation and distribution) and place.
Marketing strategy depicts the overall company program for selecting a particular market segment and then satisfying it’s consumers through careful use elements of the marketing mix-product, price, distribution and promotion effective. Marketing requires decisions that
successfully integrate a form marketing place program towards satisfying the consumer whose act in obtaining and using goods and services, including his decision process that precede and determine those acts are highly affected by the strategy adopted by the marketing manager in marketing the firm’s products.
Since the performance of marketing function involves basically marrying consumers needs and wants with the appropriate products and service and since it is generally believed that marketing begins and ends with the consumer, this project therefore attempt to examine how the use of marketing strategies have generated sale for Hardis & Dromedas Plc following it’s impact on consumer purchasing behaviours. Efforts are therefore to show the relationship between sales turnover and Amount spent on marketing activities and it’s resultant impact on consumer purchasing behaviour shall also concentrate on establishing how consumer purchasing behaviour is influenced by a forms strategy for accomplishing marketing objectives and plans. We shall pay special attention to hardis & Dromedas PLC.
1.2 STATEMENT OF THE PROBLEM
This is considered as the first major step and great importance in carrying out research. There the researcher attempts to define or describe the research problem.
The primary objective of most business enterprise is to make profit. This is because profit ensures, growth, survival and continuity in business. Many companies like Hardis and Dromedas PLC recognizes this fact but many enterprise still fail to realize that the achievement of this goal depends on their ability to satisfy the needs of marketing strategies besides a primary task of marketing is to influence the buyers.
This study will therefore examine the following problem
(a) The marketing strategies used by hard is & Dromedas PLC
(b) The extent use strategies are used in this company in generating sales.
(c) Essentially, the impact of these strategies on the consumers will be assessed by finding out who they are propelled into buying the company’s products.
1.3 OBJECTIVE OF THE STUDY
The objective of this study is to investigate and identify the marketing strategies employed by Hardis and Dromedas PLC. Shall look at the various element of marketing strategies and determine how this company uses them to identify and retain customers and how this firm uses them to find out how to compete favourably in the industry and make profit. This research will also try to determine the marketing strategy used by Hardis and Dromedas PLC in it’s operation the attainment of corporate/ marketing goals and move emphatically consumer of Hardis and Dromedas PLC products.
Further I shall try to identify the major problem associated with the implementation and use of the marketing strategy in this company. I shall suggest possible solutions, which might help eliminate or reduce these problems.
This study is also aimed at bridging the gap between classroom theory and the realities of industrial practice, particularly in the area of marketing and consumer purchasing behaviour. In this vain it is hoped that this little effort will stimulate the interest of other student profession managers and marketing policy markers to pay attention to research in the relationship between marketing strategies and consumer purchasing behaviour it will in on doubt leave the consumer and producers, interest harmonized.
1.4 RESEARCH QUESTIONS
This research work tends to provide answer to the following research questions.
(i) What are the strategies used by Hardis and Dromedas PLC to influence consumers buying behaviors?
(ii) How does this company identify the factors influencing consumers buying behaviour?
(iii) What are problems associated with the implementation and use of these strategies in this company.
(iv) Does low price mean poor quality
(v) Would you like to be consulted before produce her products
(vi) Can advertising persuade you to purchasing product you did not really want.
1.5 SIGNIFICANCE OF THE STUDY
The fact that implementation of effective marketing strategies create satisfaction for both the procedures and consumer, it can be stated that in Nigeria today there is the need to improve on market orientation among organizations.
Companies should realized the importance of strategies planning in the provision of goods and service to ensure guaranted profits. Good strategies means lower cost and so lower prices and consumer are induced to repeat purchase. This way the producer realize their aim and objectives and consumer gets needed and services at affordable prices. It is therefore toward the state of affairs that this research work is oriented.
The research work is also undertaken in the hope that it’s finding will enable marketing people to understanding adopt and apply knowledge of consumer purchasing behaviour in tackling their marketing problems.
Again it is hoped that the study and the recommendation that will be made, will be of benefit to the Hardis and Dromedas PLC marketing department in particular and the entire industry as a whole it will contribute to determining the strategies requirements for effective marketing and would enable firms serve their customers more effectively and efficiently. If the research achieves, Thus it will be a worth while contribution to the integration of functional specialize (marketing) that is essential in the business world today.
1.6 SCOPE OF THE STUDY
Realizing the financial and time constraint that are involved in this types of study, it become necessary to limit the scope of the study to one hundred and fifty consumers within Enugu metropolis , and to one company. Using one company will limit and reduce the necessity for comparative analysis the element in a marketing strategy are common to all the firms hence I shall place emphasis on the marking mix ie product, price promotion and place. They will use to see how they relate to each other and combine to influence the buyers of hardies and Dromedas plc products.
Equally, the concept of consumers purchasing behaviour shall be analysis based on the data collected from consumers of Hardis and Dromedas plc product with Enugu metropolis to see it place in the market.
1.7 DEFINITION OF TERMS
There are probably as many definition of marketing terms. It I survey difficult in real life to come up with a comprehensive definition of any term particular in the social sciences that can withstand a total universal acceptance , it is therefore planisble to establish operation or functional definition for the key can concepts or terms used in this study.
MARKETING DEFINITE
According to Kotler and Keller (2006:5), they define marketing as an organization function and a set of processes of creating communicating and delivery value of customers and for managing customer relationship in a ways that benefit the or
STRATEGY
This term borrowed from the military refers to the systematic approach commanding officers charged
with a military action wishers to employ in discharging his responsibility.
According to Adirika etal (1996:259) He point out that strategy is grand design for getting where by our objectives. We have stated we want to go. It is battle phitm used out of marketing elements.
1.7 MARKETING STRATEGY
According to Philip kotler and Gray Armstrong on principle of marketing 13th edition, (2004) say in designing an initial marketing strategy for a new product based on the product concept. They further stated that this consist of three parts, the first parts that describe the target market, the second parts the planned value proposition and the last part which is the sales, market share and the profit goal for the first few years.
The term also suggested some factors to be consider while selecting marketing strategy for a product such factors are according to them are:-
(1) Business Analysis:- A review of the sale, cost, and profit projective for a new product to find out whether these factors satisfy the company objective
(2) Product development:- Developing the concept into a physical product in order to ensure into working marketing offering.
(3) Test marketing: The stage of new product development in which the product and marketing programe are tested in realistic market settings. In using the test marketing the follow approaches and available to choose from - standard test market. Controlled test market. And stimulated test market.
(4) Commercialization:- it simply means introduction of a new product into the market.
According To Comfit Etal (2001)
Defined marketing strategy as the general terms used to describe the overall company pragramme for selecting its consumers through careful use of the elements of the marketing mix.
Marketing Mix: According to Abdalmajid and Lionel (2004) He defined marketing mix as the promotion of product, especially advertising and Branding. However, In professional usage, the term has wider meaning will recognized that marketing mix is customer centered. Product are often developed to meet the desires of groups of customers or even, in some cases, for specific customers, they go on to divide marketing mix into seven general sets of activities which include.
Price promotion, product, place, process, people, and physical evidence.
Consumer purchasing behaviour
Schiffman and Kanuk (2007:3) They define consumer purchasing behaviour as the behaviour that consumers display in searching for purchasing using evaluating and disposing of product and services that they except will satisfy their needs.
PRODUCT
According to kotler & Armstrong (2005:276) Define product as anything that can be offered to someone to satisfy a need or want.
Product for the purpose of this study refers to any thing Hardis and Dromedas PLC has to offer for want or need satisfaction.
ABSTRACT
The performance of marketing function basically marrying consumers needs and wants with the appropriate products and services. It is the duty of the form to adopt appropriate marketing strategy to attract customers to it’s products and since it is generally believed that marketing strategy affects the consumer buying behaviour. This project therefore attempts to examine how the use of marketing strategies have generated sales for Hardis and Dromedas Plc following it’s impact on consumer purchasing behaviours efforts are therefore made to show the relationship between sales turnover and the amount spent on marketing activities. The project work is divided into five chapters conveying the introduction, literature review, and research methodology, analysis of result findings as well as recommendation and conclusion, limitation of study which might help to achiever greater sales using marketing strategies. In all special attention is paid to both the company sales record.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Of all business activities of functions none is as interested in the consumer and his purchasing behavior as marketing. Marketing is invariably connected with the research into purchasing behaviaour namely what the consumers want, need prefer and value, who are the prospective consumers and where they live, their in come and made of spending, how and why they make purchase decision and so on. Infact the influencing of the buyer behaviour is the primary task of the marketing department in any organization.
Equally, marketing tries to define the right type of products in terms of the company’s objective and attempts to make it available at the right place and the right price, with right promotions. This the performance of marketing functions involves basically marrying consumer wants and with the appropriate products and services. It is the duty of the firm to adopt appropriate marketing strategy to attract customers to its products. This is important because in a free market economy, the ultimate judge of the firm performance is the consumer.
Consumer purchasing behaviour will determine the face of the enterprise this behaviour can best be described by a marketing manager who can also tell how he will by influenced by market variable such as price, promotion. Product (variation and distribution) and place.
Marketing strategy depicts the overall company program for selecting a particular market segment and then satisfying it’s consumers through careful use elements of the marketing mix-product, price, distribution and promotion effective. Marketing requires decisions that
successfully integrate a form marketing place program towards satisfying the consumer whose act in obtaining and using goods and services, including his decision process that precede and determine those acts are highly affected by the strategy adopted by the marketing manager in marketing the firm’s products.
Since the performance of marketing function involves basically marrying consumers needs and wants with the appropriate products and service and since it is generally believed that marketing begins and ends with the consumer, this project therefore attempt to examine how the use of marketing strategies have generated sale for Hardis & Dromedas Plc following it’s impact on consumer purchasing behaviours. Efforts are therefore to show the relationship between sales turnover and Amount spent on marketing activities and it’s resultant impact on consumer purchasing behaviour shall also concentrate on establishing how consumer purchasing behaviour is influenced by a forms strategy for accomplishing marketing objectives and plans. We shall pay special attention to hardis & Dromedas PLC.
1.2 STATEMENT OF THE PROBLEM
This is considered as the first major step and great importance in carrying out research. There the researcher attempts to define or describe the research problem.
The primary objective of most business enterprise is to make profit. This is because profit ensures, growth, survival and continuity in business. Many companies like Hardis and Dromedas PLC recognizes this fact but many enterprise still fail to realize that the achievement of this goal depends on their ability to satisfy the needs of marketing strategies besides a primary task of marketing is to influence the buyers.
This study will therefore examine the following problem
(a) The marketing strategies used by hard is & Dromedas PLC
(b) The extent use strategies are used in this company in generating sales.
(c) Essentially, the impact of these strategies on the consumers will be assessed by finding out who they are propelled into buying the company’s products.
1.3 OBJECTIVE OF THE STUDY
The objective of this study is to investigate and identify the marketing strategies employed by Hardis and Dromedas PLC. Shall look at the various element of marketing strategies and determine how this company uses them to identify and retain customers and how this firm uses them to find out how to compete favourably in the industry and make profit. This research will also try to determine the marketing strategy used by Hardis and Dromedas PLC in it’s operation the attainment of corporate/ marketing goals and move emphatically consumer of Hardis and Dromedas PLC products.
Further I shall try to identify the major problem associated with the implementation and use of the marketing strategy in this company. I shall suggest possible solutions, which might help eliminate or reduce these problems.
This study is also aimed at bridging the gap between classroom theory and the realities of industrial practice, particularly in the area of marketing and consumer purchasing behaviour. In this vain it is hoped that this little effort will stimulate the interest of other student profession managers and marketing policy markers to pay attention to research in the relationship between marketing strategies and consumer purchasing behaviour it will in on doubt leave the consumer and producers, interest harmonized.
1.4 RESEARCH QUESTIONS
This research work tends to provide answer to the following research questions.
(i) What are the strategies used by Hardis and Dromedas PLC to influence consumers buying behaviors?
(ii) How does this company identify the factors influencing consumers buying behaviour?
(iii) What are problems associated with the implementation and use of these strategies in this company.
(iv) Does low price mean poor quality
(v) Would you like to be consulted before produce her products
(vi) Can advertising persuade you to purchasing product you did not really want.
1.5 SIGNIFICANCE OF THE STUDY
The fact that implementation of effective marketing strategies create satisfaction for both the procedures and consumer, it can be stated that in Nigeria today there is the need to improve on market orientation among organizations.
Companies should realized the importance of strategies planning in the provision of goods and service to ensure guaranted profits. Good strategies means lower cost and so lower prices and consumer are induced to repeat purchase. This way the producer realize their aim and objectives and consumer gets needed and services at affordable prices. It is therefore toward the state of affairs that this research work is oriented.
The research work is also undertaken in the hope that it’s finding will enable marketing people to understanding adopt and apply knowledge of consumer purchasing behaviour in tackling their marketing problems.
Again it is hoped that the study and the recommendation that will be made, will be of benefit to the Hardis and Dromedas PLC marketing department in particular and the entire industry as a whole it will contribute to determining the strategies requirements for effective marketing and would enable firms serve their customers more effectively and efficiently. If the research achieves, Thus it will be a worth while contribution to the integration of functional specialize (marketing) that is essential in the business world today.
1.6 SCOPE OF THE STUDY
Realizing the financial and time constraint that are involved in this types of study, it become necessary to limit the scope of the study to one hundred and fifty consumers within Enugu metropolis , and to one company. Using one company will limit and reduce the necessity for comparative analysis the element in a marketing strategy are common to all the firms hence I shall place emphasis on the marking mix ie product, price promotion and place. They will use to see how they relate to each other and combine to influence the buyers of hardies and Dromedas plc products.
Equally, the concept of consumers purchasing behaviour shall be analysis based on the data collected from consumers of Hardis and Dromedas plc product with Enugu metropolis to see it place in the market.
1.7 DEFINITION OF TERMS
There are probably as many definition of marketing terms. It I survey difficult in real life to come up with a comprehensive definition of any term particular in the social sciences that can withstand a total universal acceptance , it is therefore planisble to establish operation or functional definition for the key can concepts or terms used in this study.
MARKETING DEFINITE
According to Kotler and Keller (2006:5), they define marketing as an organization function and a set of processes of creating communicating and delivery value of customers and for managing customer relationship in a ways that benefit the or
STRATEGY
This term borrowed from the military refers to the systematic approach commanding officers charged
with a military action wishers to employ in discharging his responsibility.
According to Adirika etal (1996:259) He point out that strategy is grand design for getting where by our objectives. We have stated we want to go. It is battle phitm used out of marketing elements.
1.7 MARKETING STRATEGY
According to Philip kotler and Gray Armstrong on principle of marketing 13th edition, (2004) say in designing an initial marketing strategy for a new product based on the product concept. They further stated that this consist of three parts, the first parts that describe the target market, the second parts the planned value proposition and the last part which is the sales, market share and the profit goal for the first few years.
The term also suggested some factors to be consider while selecting marketing strategy for a product such factors are according to them are:-
(1) Business Analysis:- A review of the sale, cost, and profit projective for a new product to find out whether these factors satisfy the company objective
(2) Product development:- Developing the concept into a physical product in order to ensure into working marketing offering.
(3) Test marketing: The stage of new product development in which the product and marketing programe are tested in realistic market settings. In using the test marketing the follow approaches and available to choose from - standard test market. Controlled test market. And stimulated test market.
(4) Commercialization:- it simply means introduction of a new product into the market.
According To Comfit Etal (2001)
Defined marketing strategy as the general terms used to describe the overall company pragramme for selecting its consumers through careful use of the elements of the marketing mix.
Marketing Mix: According to Abdalmajid and Lionel (2004) He defined marketing mix as the promotion of product, especially advertising and Branding. However, In professional usage, the term has wider meaning will recognized that marketing mix is customer centered. Product are often developed to meet the desires of groups of customers or even, in some cases, for specific customers, they go on to divide marketing mix into seven general sets of activities which include.
Price promotion, product, place, process, people, and physical evidence.
Consumer purchasing behaviour
Schiffman and Kanuk (2007:3) They define consumer purchasing behaviour as the behaviour that consumers display in searching for purchasing using evaluating and disposing of product and services that they except will satisfy their needs.
PRODUCT
According to kotler & Armstrong (2005:276) Define product as anything that can be offered to someone to satisfy a need or want.
Product for the purpose of this study refers to any thing Hardis and Dromedas PLC has to offer for want or need satisfaction.
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