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PROMOTION: AN EFFECTIVE MARKETING STRATEGIES IN BUSINESS ORGANIZATION IN NIGERIA
ABSTRACT
Promotion can be seen as a process or means of communication, and it has played an important roles in business organization because an organization that does not communicate itself to the public is far from reaching its goals that is why the roles of marketing manager has been re-organized in business organizations. The goals of the paper is to review in Nigeria, strategy, problems and solution to the problems of promotion using Zertech Nigeria Limited, Maya as a case study. Data of this study were collected through the use of questionnaires; they were analyzed using percentage method.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Successful business organization lies on the extent to which the public is aware of the organization. The importance o promotion as one of the marketing strategy can be traced back to the era whereby marketing has been recognized by people or organized by people or organization. Although before the invention of marketing strategy there has been adopted just to meet the needs, wants and aspiration of consumers, but all these efforts proved abortive. Some of these strategies can be traced back to the time of industrial revolution, when people were suffering. During 1900s people found ways to sustain their ways of living and one of the earliest forms of occupation they engaged in were subsistence farming, hunting etc in which individuals family was self reliant i.e. they depended on their productivity.
The recognition of this trend now led to trade by barter, whereby goods were exchanged for goods and services where exchange for services, but did not meet the wants of the people. it was after this era that many came to recognize and it led to the production of goods for the whole populace. Nowadays, most business organizations have come to realize the importance and role of marketing in their organization just because there is need to encourage the demand for goods and services which can be done through the identifying, anticipating and satisfying the needs of consumer’s profitability. And all these can be done through all the promotional tool i.e.
i. Advertising
ii. Sales promotion
iii. Publicity
iv. Personal setting
Most marketing practitioners have come to realize that they are operating in a competitive environment, in which every organization is striving to succeed. Although, most organization adopt sales promotion, as a promotional tools but it can never be used in isolation because it gives short term incentives. And the question we are to ask now is that, what could happen after this incentive? Definitely competition would set in and that is why moist organizations have adopted the promotional mix which is the optimum combination of the promotional tools, in order to achieve the organizations goals and objectives. Promotion can be seen as a process or means of communication, and it has played an important roles in business organizations because an organization that does not communicate itself to the public is far for reaching its goals that is why the roles of marketing manager has been reorganized in business organization in Nigeria especially Zertech Limited.
Although, all promotion is communication but not all communication are promotion, therefore, promotion has been seen as an effective marketing strategy in most business organization in Nigeria simply because it provides information that attracts consumers, and influence consumers behaviour.
1.2 STATEMENT OF PROBLEMS
Promotion has been seen as communication that provides information to both buyers and sellers. Due to the competitive environment, most manufacturers have been forced to promote their goods but inspite of all techniques used most organization spend huge among of money on promotion but they don’t achieve their goals.
1.3 PURPOSE OF THE STUDY
Promotion have been seen to have different tools in order to implement it. The tools include: sales promotion, advertising, personal settings, publicity and public relations etc. But the essence of these tools is to increase the sales of goods in the organization. However, in this course of study the impact of all promotional tools or Zertech Limited will be seen. Furthermore, the responses of consumers before, during and after promotion would be examined taking a tactical look at Zertech Limited.
1. Is to know the roles promotion have played in Zertech Limited
2. To know the form of promotional mix adopted by Zertech Limited
3. To make it obvious that none of the promo-tools can be single handedly used to stimulate sales
4. To know what the promo-tools generates sales in Zertech Limited
5. To examine how favourable promotion has been to Zertech Limited
6. To know how promotion is effective in business organization.
1.4 SIGNIFICANCE OF THE STUDY
i. The study will help marketers and economist to know more effective marketing strategies
ii. The study will enlighten business organizations on the advantage of promotion
iii. The study will help to correct the misconception about promotion
1.5 RESEARCH QUESTIONS
1. To what extent is the public aware of the existence of Zertech Limited?
2. What is the attitude of consumers after conducting promotion in the organization?
3. To what extend has promotion been favourable to the organization?
4. What form of promotional activities to the organization adopts?
5. What are the problems encountered in marketing strategies employed?
1.6 SCOPE OF THE STUDY
This research is limited to the effect of various promotional tools on all; the products of Zertech Limited which includes: sales promotion, personal selling, advertising, public relation. And how these promo tools are embraced by the consumers. And also the view of the marketing managers on adopting any of the promo tools. The first chapter explains the meaning of promotion as an effective marketing strategy. It comprises the definition of tray terms
- the statement of research problems
- limitation of the study
- the scope of the study
- the objective of the study, Zertech Limited
The next chapter comprises of literature review which will widely explain the concept of promotional tools and the objectives of promotion itself. The third chapter, explains about the methodology, population and sample methods of data collect and problems encountered during the course of collection of data. The fourth chapters deal with the presentation of data analysis of data and the interpretation of data. The last chapter deals with the summary, conclusion and recommendations of the study. The focus of the research is on the effect of marketing strategies in business organization in Nigeria.
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