ENEMS MICROSYSTEMS RESEARCH SPOT: MARKETING MIX

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Thursday, 16 March 2023

THE IMPACT OF MARKETING MIX VARIABLES IN THE ECONOMY OF NIGERIA

THE IMPACT OF MARKETING MIX VARIABLES IN THE ECONOMY OF NIGERIA

(A CASE STUDY OF NIGERIA BREWERIES, KADUNA)

ABSTRACT

The research study is titled “The impact of marketing mix variables in the economy of Nigeria “as applicable to Nigeria breweries. Chapter one started with the introduction background of the study, statement of the problem following by the objective of the study, scope of the study, statement of hypothesis ,limitation of the study and definition of items. Chapter two consist of the following literature review, introduction, analysis of marketing mix variables , the meaning and objective of marketing mix, the marketing means variables, The impact of marketing mix variable in the economy of Nigeria an the impact of modern information technology on the mix.

Further more , chapter three presented the following research design and methodology, source of data collection, research instructments , type of questionnaire, statistical technique used in analyzing the data questionnaire distribution and collection chapter four we have data presentation and analysis and rest of hypothesis chapter five consist of summary of endings , conclusion, recommendations, biography and appendixes.

CHAPTER ONE

1.0. INTRODUCTION

The marketing mix can be defined as the combination of elements in an organization offering to the market; offering being either products or services. These elements were identified as product, price, promotion and place. In the world today, everyday one person or two contemplate going to one business or the other.

This follows from a realization or discovery of an untapped opportunity. This therefore, prompts entry into one form of business and /or the order to cater for the needs and wants of unexplored market potential, and hence mobilize all factors and resources that will aid in the process of the achievement of this objectives.

Before going into any form of business, intensive research must be carried out on the marketing mix variables (product, price,pro0motion, and place) see the viability of achieve organization’s objectives.

In the absence of such a research, even when the business starts, problems are bound to arise and disrupt the smooth running of the business.

Marketing mix variables are very vital. They are the pivot on which business resolves, any mistake made on any of the variables will affect negatively or modified is the business will likely come to a stop. Because of the importance of the marketing mix, any marketing manager that will succeed will have to look critically at the variables and harness them to achieve good success in business.

1.1. HISTORICAL BACKGROUND OF THE STUDY

The Nigeria breweries plc was incorporated in Nigeria in 1946, It embarked on the construction of a brewery Lagos. By June, 1949, it started the production of beer and its first product was star larger beer.

The original founder of the company were the united African company (U A C) International, the Heineken international have acted as commercial and trading facilities for its up keep in business.

From June 1949, when the first product was rolled out, to date it has ranges of brands to it care. In 1976, it introduced guider brand of beer product in Nigeria market which has not been competed with by other breweries. It also has among its products range of shandy and maltina. This company is also the first to produce the energy giving matina in Nigeria .

The company has four factories i.e. Lagos, Ibadan, Kaduna and Aba and for a firm to source it raw materials for the production which is located at Aba and kogi. These firms produces maize and sorghum in large quantity for the four factories to be used for production it has dedicated, talented and experience manager. The yearly turnover of the industry is counted in billions. Modern techniques are used by the company.

1.2. STATEMENT OF THE PROBLEM

Marketing is a constant evolving trade and as such, management’s must appreciate the need of harnessing the marketing mix variables to achieve the over all organization goals of the firm or company.

The problems most firm face in business today is the ever changing need of the consumer. The product and service that a consumer perceive as superior at one time, he suddenly over time change attitude towards that particular product/ service within the shortest possible time.

1.3 AIM AND OBJECTIVES OF THE STUDY

The principal objective of this research is to know the impact of marking mix variables in general.
To investigate how much of marketing mix variable managers of firms know and apply in the organization
To know the impact of marketing mix variables in the organizations overall effectiveness and efficiency.
To know what marketing mix variables are it’s importance and role in the survival of a business
To review literature relevant to the subject matter.

1.4 SIGNIFICANCE OF THE STUDY

It is envisaged by the researcher of this subject that the research work will be beneficial to many in the following ways:

The research will reveal the need for the management of organization and business to see the marketing mix variables as the major pirot of success in business operations
This study will also reveal the impact-negative and/or positive the marketing mix variables can have on the marketing overall economy of Nigeria at large.
This research work is also intended to serve as a guiding nap to all who are intended in running one form of business or the other, on how to carry out feasibility study on the marketing mix variables

1.5 SCOPE OF THE STUDY

The study covers areas in which respondents are drawn, despite the fact that the researcher is not familiar with those areas. Again, the scope of any study is dependent on the resources needed to carryout the research work that was why Nigeria breweries plc is used and exploited extensively to final out how effective the marketing mix variables is used in the over all strategic planning of the organization, how much of he mix the management know and how it has improved status of the company.

1.6 STATEMENT OF HYPOTHESIS

Hypotheses are formed for the purpose of this study and they are stated below in their null forms.

Ho: marketing mix variable is not the pivot on which the success of any organization lies.

Hi: marketing mix variable is the pivot on which the success of any organization lies

Hi: marketing mix variables can be harnessed by management of organization.

Ho: marketing mix variables as difficult to harness in an organization

1.7 LIMITATION OF THE STUDY

A list of problems can hinders effective and extensive research work. In respect to this project work the list goes thus:

Finances- financial constraint posed a challenge to this project. There was no enough money to acquire some needed text books that would have helped in this research work.

Time- time is this research is another problem the researcher battled with. This is as a result of the short semester.

Information- the quality and quality of information to be used in the research work was a very big problem as those in position to furnish one with reluctant to assist.

1.8 DEFINITION OF TERMS

For the purpose of clear understanding of some unfamiliar works used in this research work, which may be strange to research work, which may be strange to readers, the researcher deemed it wise to explain the following term:-

PRODUCT: Kotler (1980) defines a product as anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a need.

PRICE: This is the amount of money that has to be paid for a commodity or services. It is simple an offer, a suggestion, or an experiment to test the purse of the market (Stanton 1964).

PLACE: (distribution): place is concerned with getting the “right” product to the target market place.

PROMOTION: Edward and William (1963) defines promotion as the co-ordination of all seller-initiated efforts to set up channels of information and persuasion to facilitate the sale of product or service, or the acceptance of an idea.

Marketing Mix: The marketing mix refers to the apportionment of effort, the combination, the designing, and the integration of the elements to marketing into programmes.

Consumers: Thereare the actual or potential buyers and users of a particular company’s product and / or services

ORGANISATION: An organization is a group of people who are formally arranged in such a way that they depend upon each other to reach a predetermined goals and objectives of an organization

4PS: These are the core elements of marketing and they are: product, place, price and promotion

STRATEGY: This refers to the technique designed by the senior management of an organization to help achieve the goals and objectives of the organization

Advertising: is any paid form of non-personal presentation of goods services, or ideas by an identified sponsor

Wednesday, 1 June 2022

MARKETING MIX

MARKETING MIX

From the various definition of marketing understand that marketing involve the performance if various activities bring about customers and social satisfaction. The controllable variable or marketing mix are of four key’s related to decision making are around which marketer jobs involves. They are made up of product, price, promotion and place. It is achieving a good mix or combination of them that gives the desired overall effort. Let us take a look at each of these variables of marketing and see how marketing control and enhance each one in achieving the goals and objective of the organization.

· The Product Mix

A product is a complex tangible and intangible attribute including functional, social and psychological utilities to benefit. Developing a product that meet the needs of customers required knowledge of fundamental market and product concept. Product is an important variable (promotion, price, place) must be co-ordinate with product decision. A product can be an idea, service, goods of any combination of three. When buyers purchase goods think the product will provide. Buyers purchase intangible goods like insurance, education, health care for instance the basic promise of satisfaction since a product meets pricing mix. Buyers concern for an interest is related to their expectation about buyer have limited resource, they most allocate their purchasing power to obtain the most desired products. A particular product price is determine by the value that consumers place on the product. Hence, price most equal or less than the benefit consumer received.

· Price

How you price, your product or service so that your price remains competitive but allows you to make a good profit.

Pricing objectives: Pricing objective are those objective that specify whole price play in an organization market plan and strategies. In setting price follow pricing objectives.

Profit objectives: The different objectives to a firms profit usually measured in term of returns on investment or return on asset. One objective for managing in a long profit maximizing current objective that is trying to obtain the highest possible profit within the short run.

Sale objectives: The hope is that the increase in market share profit objective related to sales revenue or unit sales has the advantage of being translated easily into meaningful targets for marketing managers responsible for a product line or brand for more easily than with a return on investment target.

Market share objective: Market share are the ratio of the firm sales revenue or unit sales to these industries (competitors plug the firm itself). In this pricing objective its aimed at increasing the market share of the industry or firm.

Unit volume objectives: Many firms use unit volume for produced or as a pricing objective. Social responsibility objectives, a firm may go higher on sales and follow pricing objective that recognize its objective to customers and society in general. For example government agencies which set many for services they offer user objective.

· Promotion

In marketing, promotion refers to a technique that persuasively communicates favorable information about the seller’s product of potentials buyers. Promotion is the method used to communicate the feature and benefits of your product or services to your target customer. The role of promotion is to communicate with individuals, group of people or organization to directly facilitate exchange by influencing one or more of the audience about firms and its product services and ideas. Markets directly facilitate exchange by focusing communication on companies activities and product on interest group (such as environment and consumers group) current and potential investment. To develop and implement effective promotional activities firms must obtain and controlled.

Promotional mix ingredient

Some of the ingredients that can be including in an organization as promotion mix are:

a. Advertizing: is the non personal communication of information usually paid for and usually persuasive in nature about products, services or ideas by identified sponsors through the various media (Bovee, 2002, p.7). Some mass media commonly selected to transmit advertising are television, radio, newspaper and magazines, individual organization use advertising to promote goods and services or ideas and people as political candidate.

b. Personal selling: personal selling is a process of information or informing customers to face conversation in other to persuade them to purchase a products, personal selling is promotional method in which one party (e.g salesperson) uses skill and techniques for building personal relationships with another party (e.g those involved in a purchase decision) that result in both parties obtaining value. Face to face selling in which a selling attempts to persuade a buyer to make purchase.

c. Sales promotion: are the set of marketing activities undertaken to boost sale of the product or service. Sales promotion refers to those marketing activities that stimulate consumer shows and expositions. It encompasses effort other than personal selling advertisement and publicity. Frequently marketer’s employs sales promotion to improve the effectiveness of other promotion mix ingredient especially advertising and personal selling.

· Distribution mix (place)

Distribution involve the movement of product in all stage of development from resources, procurement to manufacturing and to the final sales. It can be seen as adding value or satisfaction to raw material by mobbing them to the manufacturers to intermediaries and finally to ultimate consumers. Distribution involves the marketing of the product available to buyer a convenient assessable and suitable location. Distribution provides place and time utility.

CONTROLLABLE VARIABLE (MARKETING MIX)

· The Product Mix

· Price

How you price, your product or service so that your price remains competitive but allows you to make a good profit.

Pricing objectives: Pricing objective are those objective that specify whole price play in an organization market plan and strategies. In setting price follow pricing objectives.

· Promotion

Promotional mix ingredient

Some of the ingredients that can be including in an organization as promotion mix are:

· Distribution mix (place)

Tuesday, 10 May 2022

MARKETING MIX

MARKETING MIX

The four Ps classifications for developing an effective marketing strategy were first introduced in 1960 by marketing professor and author E. Jerome McCarthy. Depending on the industry and the target of the marketing plan, marketing managers may take various approaches to each of the four Ps. Each element can be examined independently, but in practice, they often are often dependent on one another.

A marketing mix includes multiple areas of focus as part of a comprehensive marketing plan. The term often refers to a common classification that began as the four Ps: product, price, placement, and promotion.

Effective marketing touches on a broad range of areas as opposed to fixating on one message. Doing so helps reach a wider audience, and by keeping the four Ps in mind, marketing professionals are better able to maintain focus on the things that really matter. Focusing on a marketing mix helps organizations make strategic decisions when launching new products or revising existing products.

MARKETING MIX is a planned mix of the controllable elements of a product's marketing plan commonly termed as 4Ps: product, price, place, and promotion.

These four elements are adjusted until the right combination is found that serves the needs of the product's customers, while generating optimum income. Sometimes the first P (Product) is substituted by presentation.

CONTROLLABLE VARIABLES

These refer to those variables that can be easily controlled by a business-man or a company to suit the demand of the business. They include the following:
•Product:
A company or marketer is said to have control over a product because he or she can undertake the following adjustments to suit prevailing demands of the business. The business can increase the capacity of output to cope with increasing demand, modify the product in terms of color, size, shape, fashion, design ,or change the package of the product and so on.
• Price:
A business or a marketer is said to have control over price of his products because he or she can undertake the following adjustments to suit the demand on business: it can offer discounts, offer price reductions or use the money off e.g. he can use this slogan, “buy two get one free”.
• Promotion:
A marketer is said to have control over promotional activities of his organization because of the following factors: it is able to select appropriate promotional media to use depending on different situations , is able to select appropriate slogans to use for different market segments. It can to do this because different advertising slogans are perceived differently in different market segments.
• Place or Distribution:
A company or a marketer is able to control distribution activities in his or her organization by way of choosing appropriate marketing channels to use in the distribution of his goods and services e.g. supermarkets, village shops, kiosks and multiple shops. This will enable customers to get goods at the right time and place.
• Suppliers:
Companies can either increase the number of suppliers or decrease it.

Saturday, 15 January 2022

AN APPRAISAL OF THE RELEVANCE OF THE MARKETING MIX ELEMENT TO MARKETING FIRMS

(A case study of Nigerian Breweries Plc. Kaduna State)

ABSTRACT

This project work examines the importance of marketing planning in MTN Telecommunication Company Abuja.The main principle of marketing is to have an achievable target market and to complete delivering the right service and product at a reasonable price. More so, a company’s aim is to create a unique brand name and establish a platform where the company can achieve its organizational goals and objectives, satisfying the consumer’s needs and wants. In the 90’s Nigeria experience poor quality service in telecommunication provided by NITEL both in making calls within or outside Nigeria, so all public outcry and the charges in the Country’s government brought about the transformation in some sectors of the country including telecommunication industry. MTN Nigeria is one of the several companies licensed by the Nigerian Communication Commission (NCC) to operate on the platform of mobile service operators. For more than 10 years, the Nigerian mobile industry has grown from grass to grace. However we cannot overlook the challenges faced by operators like MTN Nigeria. Still the Nigerian market if referred to as the biggest market in Africa and one of the fastest growing markets in the world.

CHAPTER ONE:INTRODUCTION

BACKGROUND OF THE STUDY

We live in a dynamic and changing environment and such one or two person may contemplate going into business. This follows a realization or discovery of an untapped market, which need to be exploited.

This therefore prompt for entry into one form of business or the other to cater for the needs of and wants of this unexploited market potential and hence mobilized all factors and resources that will aid the process of achieving this objectives.

This study will analyze and examine the relevance of the marketing mix element to marketing firms, business organization, and in Nigeria brewery Plc. in particular.

Again, before going into business, intensive research must have to be carried out to know the viability of such business and how they can effectively harness the resources at their disposal to attain the objectives since the marketing mix element plays an important role in the life of every firm there is the need for research to be carried out so that when the business commences, problem that are bound to occur will not disturb its operations.

A firm also needs research so as to determine how the competitors formulate their strategies to survive and push others out.In this regard therefore, investors or entrepreneurs must have to be very conscious of the environment in which they operate.

However, since the concept of every firmis to make profit, the marketing mix element which is the sevenPs i.e product, price, place, promotion, physical evidence, process and people must have to be blended. Individually and collectively to achieve the aim of the organization. Infact if the marketing mix element is not well blended it will go along way to show that firm will not be able to survive in the environment, and in the long turn, the objectives will not be achieved.

This research work will also enable us to understand how vital the marketing mix of a firm is. They are the pivot on which firms activities revolve. This is why any mistake made as a result of modification or rectification of any of the mix might lead to the collapse of the firm.

Also, this research will be analyzing how the mix should critically be looked at, individually and collectively so as not to affect the operation of the firm, which forms the basic bedrock of the marketing organization. It will also analyze the objectives, purposes and limitations of the marketing mix variety in a marketing organization and Nigerian breweries in particular.

1.1STATEMENT OF THE PROBLEM

Marketing mix element plays a very important role in any business firm or business organization, infact, there is no way a firm can function effectively without proper understanding of the marketing mix element.

However, both controllable seriously affect business activities and uncontrollable element in the environment and this include inadequate capital, lack of technological knowledge and infrastructural facilities, infact, these problems have hampered the adaptation of marketing mix the in business organization. The statement of the problem of this research is also based on the following:

The organizational efforts aimed at determining the relevance of the marketing mix in a business firms among competing strategies from other departments.
The inabilityto find out the extent to which marketingdepartment combines these mixes to achieve the overall mission, goal and objectives of the organization under study.
The problem of recognizing the appropriate mix to be used at particular time in the product life cycle.
1. OBJECTIVES OF THE STUDY

The objective of this study is to highlight the benefit of marketing their products. It is also the intention of the researcher to help find out solutions to the problems encountered in the application of marketing mix element in the Nigerian Breweries Plc. The following are the objective of the study:

To understand the role of marketing mix to marketing firms.
To formulate ways or strategies on how the firm can make its product available to end users.
To investigate the way business organizations responds to marketing mix so as to improve its marketing operations by using the relevant marketing mix element.
The importance of marketing mix and its contribution to the development of the firm and business organizations will be discussed.
1. RESEARCH QUESTIONS
What is the role of marketing mix to marketing firms?
How do you formulate ways or strategies on how the firm can make its product available to end users?
How does marketing organizations respond to marketing mix so as to improve its operations by using the relevant marketing mix element?

d. What is the importance of marketing mix and its contribution to the development of the firm and marketing firms?

1.4STATEMENT OF THE HYPOTHESIS

The hypothesis below will be designed to serve as a guide for the study.

Hi: Effective marketing mix has been responsible for the success of Nigerian Brewery Plc. Kaduna.
Ho: Effective marketing mix variable has not been responsible for the success of Nigerian Brewery Plc. Kaduna.

1.5 SIGNIFICANCE OF THE STUDY

The significance of this study is aimed at achieving the efficient e-distribution for consumer goods. This research work will serve as a useful guide to any manufacturing industry in the task of determining the most reliable source of marketing mix element that will meet the profitability of the organization expectation.

The study will also help us to give answer to the question that marketing mix element is a high factor which add to the price of the product to the final consumer.

1.6 SCOPE OF THE STUDY

This research work is designed to explaining the marketing mix elements in the economy of Nigeria using Nigerian Breweries Plc. Kaduna as a case study. The research work examined the marketing mix element in an organization and Nigeria as a whole and the application of the element in an organization. It also examined the relevance of marketing mix effectiveness and efficiency in an organization.

1.7 LIMITATIONS OF THE STUDY

Many shortcoming and setbacks have contributed in no small measure to the limited coverage of this research work.

1. Financial constraint was a serious setback while carrying out this research work.

2. Also there were no enough literature books to be consulted for adequate information required even the available ones in the market were sold at exorbitant price.

3. Respondent attitude: Most respondents were uncompromising with the researcher as they believe that the study will not bring benefit to them and most of the respondents tend to find inaccurate statements. This leads to the researcher making conclusion based on personal observation.

4. In addition, the time at my disposal for this project work was very small. Combining the research work with academic activities was very stressful.

1.8 OPERATIONAL DEFINITION OF TERMS

This includes definition of terms and concepts as vital in this research work.

1. CONSUMER:They are the actual or potential buyers and users of a given product.

2. PRODUCT: Can be defined as any commodity that has a monetary or commercial value. However, Philip Kotler in his book International Marketing defined product as anything that can satisfy the needs and want of the consumer.

3. PROMOTION: Encompasses all the tools in the marketing mix whose major role is persuasive communication.

4. MARKETING MIX: These are the four key variables which marketers use to influence the market.

5. PRICE: The value of product or services expressed in monetary terms.

6. PLACE: This is concerned with the distribution of goods and services from the point where they are produced to the place where the ultimate buyers will consume them.

7. BUSINESS: This is the sum of activities which individuals engage in the production of and services for distribution.