THE IMPACT OF MARKETING MIX STRATEGY ON THE GROWTH OF A FIRM (A CASE STUDY OF LUBCON NIGERIA LIMITED, ILORIN)

CHAPTER ONE

•  INTRODUCTION

The aims of every organization is to minimize cost and maximize profit. An effective marketing mix strategy plays an important role towards enhancing the objective to be achieve by the organization.

        Those days when product was matched with the market gone. The modern marketing concept enhances the importance of consumer’s preference and consumer’s satisfaction. Therefore, the management is concerned with various policies on four elements of the marketing mix (4p) i.e. the product, the price, the  promotional activities and the place.

        The marketing mix strategy occupies a paramount position in the function of marketing management. It must also be cleared, that management is decision on one of the element has effects on others because they are inter-related and has weight on the performance and growth of any business form.

•       STATEMENT OF THE PROBLEM

Today, business world has become a servant of the society by trying to provide adequately the needs and waste of the society yet some business organization find it difficult to make accurate decision on each element of the marketing mix in order to achieve the organization objectives.

        Therefore, the researcher has been able to analyze some of the following problems.

• Uncertainty of which of the several product designs are mostly likely to be accepted in the market?
• What price should company charge for its product?
• How will profit change under various pricing strategy?
• Where and to whom the company product be sold?
• How much company spend on promotion in terms of each product and geographical segmentation?
• Does the benefit justify the cost of a planned marketing mix strategy?
• Then how well can this marketing mix strategy consumer?
• OBJECTIVES OF THE STUDY