APPLICATION OF MARKETING CONCEPTS IN MANUFACTURING INDUSTRY
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APPLICATION OF MARKETING CONCEPTS IN MANUFACTURING INDUSTRY
Chapter one
INTRODUCTION
1.0 Background of the study.
Kotler (2001) described marketing as “a societal process by which individuals and groups obtain what they need and want by creating, offering, and freely exchanging value-added products and services with others.”
Staton (1964) describes marketing as “the total interaction of business activities designed to plan, price, promote, and distribute want-satisfying products and services to potential customers.”
Schew and Smith (1982) defined marketing as a company philosophy or management attitudes that assert that the consumer is the firm’s local point of contact.
These marketing activities are called the marketing mix, and their basic purpose comprises product development, package branding, pricing, placement, and promotion.
Clearly, marketing activities should be carried out in accordance with a well-thought-out philosophy of efficiency, effectiveness, and social responsibility in marketing.
Kotler (2001) believes that organisations undertake marketing activities under five conflicting concepts: production idea, product concept, selling concept, marketing concept, and societal marketing concept.
All business administrators recognise that marketing is critical to a company’s success, and that customers want to be satisfied, both economically and socially. All of the company’s actions are focused on determining what customers want and then satisfying those wants.
While maintaining an acceptable profit, marketing is one of the most important tasks that define the success or failure of any organisation. As a result, marketing plays an important part in achieving organisational goals. Organisations require marketing principles in order to increase efficiency while also meeting consumer demands.
It is far easier to sell goods or services that properly match the needs or wants of buyers than to sell products that do not, and because sound knowledge of consumers’ needs and wants provides an information base to effect this match,
the application of the marketing concept should result in increased sales, which assumes efficient and effective cost management, resulting in greater profit.
Consumers communicate their needs and desires by purchasing or declining goods and services provided by retailers and other intermediaries.
If the offerings are satisfactory, sales occur and further orders are placed; but, if the products are unsatisfactory, no sales occur, indicating that the products have not gained consumer acceptability.
A successful organisation recognises consumer desires and adjusts its activities to satisfy those needs and wishes. As the saying goes, “the customer is king,” thus every organisation that wants to succeed must regard its customers and perform what is expected of them.
The success of an organisation is consequently dependent on the success of its product or services, which is linked to the effectiveness of the marketing mix. Marketing mix and tools that enable producers to continue acquiring a large share of the market for their products; the longer the market,
the longer the output, resulting in full resource utilisation (capacity utilisation); with these tools, organisations can meet marketing targets while also operating at full capacity.
Each organisation has a notion that best matches their products. Some organisations believe in producing huge quantities and waiting for buyers to buy (production concept),
while others produce and go out to persuade consumers to buy (selling concept), and still others produce to satisfy customers while also generating a profit (marketing concepts), and so on.
All of these applications are dependent on the nature and type of product that an organisation produces, as well as how those items are accepted in the market.
1.1 Historical Background of Sunglass Nigeria Ltd.
Sunglass Nigeria Limited, one of Kaduna’s manufacturing organisations, was established as a limited liability company in 1992 to pursue the business of creating glass containers.
After formation, the firm acquired the assets of the previous Ballapur Glass Limited, which explains why Sunglass is using the space vacated by the defunct Ballapur Glass.
Sunglass employs about 500 people directly, and many more indirectly. It sources around 85% of its raw materials domestically (Katsina, Kogi, Abuja, Borno, and Plateau), which include sand, marble powder, dolomite, feldspar, and barytes.
On November 15, 1995, Sunglass Nigeria Limited began producing glass containers for users both within and outside of the state. And it performs averagely in the industry. Sunglass is equipped with high-speed automobile machines that create up to 260,000 glass bottles each day.
1.2 Statement of Problem
Several business philosophers have proposed various approaches to effectively managing corporate issues. Marketing, as a business facet, or part of business management, has its own methods.
Nigeria, as a growing country, is endowed with vast natural resources that can feed the manufacturing sectors to full capacity, as well as a huge marketing size that allows it to absorb a substantial amount of output created.
However, it has been discovered that most industries exist but are operating below capacity, indicating that there is something wrong with these industries,
such as a lack of professional knowledge on how to manage resources or how these industries reach end users, not only reaching them but also retaining existing customers and exploring new ones.
1.3 Study Objectives
The study’s aims are as follows.
– Determine the extent to which manufacturing industries employ marketing concepts.
– To understand why manufacturing industries operate below capacity.
– To identify the barriers to reaching ultimate consumers.
1.4 Significance of the Study
This study aims to provide more light on how to implement marketing concepts in an organisation in order to increase efficiency. The study will also enable students who are reading about marketing to understand the practical side.
In their expertise, they might also function as a resource for additional research. This study will also assist industrial organisations, particularly small and medium-sized businesses, in becoming acquainted with the ways for using marketing concepts in their operations.
1.5 RESEARCH QUESTIONS.
1. What are the most successful ways to implement marketing concepts?
2. Why do manufacturing organisations operate below capacity?
3. What elements should be employed to effectively reach out to end consumers?
1.6 Scope of the Study
The purpose of this study is to determine the importance of marketing concepts in meeting consumer needs and desires. As a result, this study focuses on the marketing aspects of Sunglass Limited, a Nigerian glass container manufacturer.
1.7 Limitations of the Study
Studies of this sort cannot be conducted without encountering some difficulties. This includes:
Time: Although there is only a limited amount of time to do this research, every effort was made to make the most of it.
Confidentiality:-Because Sunglass Ltd is a foreign firm, several critical and necessary documents and information that would have benefited this study could not be displayed to the public.
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