THE IMPACT OF MARKETING STRATEGY ON PROFITABILITY OF CONFECTIONARY PRODUCT IN NIGERIA

THE IMPACT OF MARKETING STRATEGY ON PROFITABILITY OF CONFECTIONARY PRODUCT IN NIGERIA

(A Case Study of O.K Foods Nigeria Limited)

ABSTRACT

In recent times, priority has been to marketing strategies in any business organization, in order for the firm to have or acquire the market share targeted and eventually having success. The need for this study arose of confectionary products in Nigeria on in any business organization.

This work is aimed at knowing the impact of confectionary products on consumers and to know how profitability can help to achieve the organizational goals.

Consequently, data collected and analyzed formed the basis for arriving at the conclusion.

TABLE OF CONTENT

Title

Certification

Dedication

Acknowledgement

Abstract

Table of Contents

Chapter One

Introduction

1.1       Background of the Study                                                                1

1.2       Statement of the Problem                                                                2

1.3       Purpose /Objectives of Study                                                         2

1.4       Research Questions                                                                                     3

1.5       Research Hypotheses                                                                      3

1.6       Definition of Terms                                                                         4

1.7       Scope and Limitations of Study                                                     4

1.8       Significance of Study and Justification for Investigation         5

1.9       Historical Background ofO.K Foods Ltd.                                     5

References                                                                                        6

Chapter Two

2.1       Introduction                                                                                      7

2.2       Current Literature Based on Such of the Relevant Variable of the

Model                                                                                                 8

2.3       Summary of the Chapter                                                                17

References                                                                                         18

Chapter Three

3.1       Introduction                                                                                      19

3.2       Restatement of Research Questions and Hypotheses                19

3.3       Research Method and Design                                                        19

3.4       Data Collection Methods                                                                19

3.5       Characteristics of the Study Population                                       20

3.6       Sampling Design and Procedures                                                  20

3.7       Description of Data Collection Instrument                                  21

3.8       Administration of Data Collection Instrument                            21

3.9       Limitations of Methodology                                                          21

Chapter Four

4.1       Introduction                                                                                      23

4.2       Respondents Characteristics and Classification                                     23

4.3       Presentation and Analysis of Data, According to Research Questions                                                                                               29

4.4       Presentation and Analysis of Data, According to Research

Hypotheses                                                                                       30

Chapter Five

5.1       Summary or Synopsis of the Study Including Chapter by

Chapter and Comprehensive Summary of Findings                   35

5.2       Conclusions Drawn from the Findings                                         35

5.3       Recommendation Based on the Conclusions                              36

5.4       Limitations and Suggestions for Further Studies                        37

Bibliography                                                                                       38

Questionnaire                                                                          40

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE STUDY

Marketing remains a relevance discipline, an indispensable role in any organization can be said to have products and customers for company to survive the intense of competition; it mustmap out marketing strategies that will ensure the achievements of the company objectives and set of goals.

Marketing concept is important tools in the achievements of company goals, which will invariably yield positive results. The essence of marketing is to make consumer behaviour into consideration in order to sell successfully a product must give real satisfaction.

Before now, confectionary products are seen as sweets, chew gum and biscuits but recently there has been a lot of changes in the taste and expectation of consumers.

Nowadays, a sweet varies for different occasions likewise chew gum, biscuit change in the most pronounced among the confectionaries. The change in the confectionary products is not limited to physical attributes but also changes in government administrative techniques in all sectors of Nigeria economy.

There has been great change in the outlook of international business as it relates to all Nigeria business sectors, the impact of this development require new contemporary technique to be device not only for maintenance of standard and profitability but also for survival.

The research project is an empirical study on the marketing of contemporary products in Nigeria with OK Foods Limited as the case study.

Conclusively, it is hope that the findings that will emanate from this study help introducing the marketing introducing the marketing mobility of many forms within the industry and elsewhere due to the fact that successful marketing action are the result of management information and applied commonness.

1.2    STATEMENT OF PROBLEM

Marketing of confectionary products in Nigeria is aimed at finding out the following challenges:

1.       To what extent has confectionary company been affected by dilapidating economy of the country?

2.       How will the company sustain and increase their market share to ensure maximization of profit to meet company's objectives?

3.       How has the company (OK Foods Ltd) been able to cope with competition?

4.       Liability to cope with the high cost of promotional company and effective distribution channel?

1.3    PURPOSE/ OBJECTIVES OF STUDY

The main objective of this project is to examine how the use of marketing concept can be used to enhance the profitability of OK Foods product in Nigeria market.

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