Project Materials

ASSESSMENT OF MARKETING STRATEGIES ADOPTED BY FAST FOOD FIRMS

ABSTRACT

The purpose of this study is to assess the marketing methods used by fast food restaurants in Imo State, with a focus on Mr. Biggs and Rennys Owerri. The study is broken into five chapters. Chapter one is the introduction section of the work, which includes the statement of problems, purpose of the study, research hypothesis, significance of the study, and research.

Chapter one

INTRODUCTION

1.1 Background of the Study 

Whatever commodity is created must be marketed. A commodity/product is anything that is offered to the market for consideration, acquisition, and use. As a result, the debate arises as to what marketing is and how fast food companies use it in their operations.

Kotler (1994:6) describes marketing as a social and management process that allows individuals and groups to achieve what they need and want by creating, presenting, and exchanging value-added products with others.

Marketing is one of the organic business tasks; without it, no business can thrive. The American Marketing Association defines marketing as the delivery of goods and services from producers to end users.

According to Leighton (1966:11), the marketing concept begins with the assumption that the goal of a business enterprise is to return those who have invested in it, that one must sell in order to make profits, and that the best way to make profitable sales over time is to produce a product that meets the needs of customers.

Kotler (1983:17) appears to have gotten at the core of the marketing concept when he says that “marketing as a business philosophy holds that the keys to achieving organisational goals consist in determining the needs and wants of the target market and delivering the desired satisfaction more effectively and efficiently than competitors.”

Also emphasised is the fact that marketing engagement ranges from butting the company’s counter to nudging the consumers’ earnings. According to Boone (1973:3), marketing orientation suggests that the customer, rather than the company, is in the middle.

The marketing concept is a managerial philosophy that assumes that a company’s ultimate goal is to fulfil its target market in the most effective and efficient way possible by properly identifying its target market’s needs and desires.

The preceding section demonstrates that the marketing concept is consistent with the company’s profit-making goal. However, this notion goes on to explain that such profit must be generated by producing goods and services that meet the demands and needs of consumers, as well as by integrating marketing operations.

1.2 Statement of The Problem

This is a marketing plan that will ultimately determine whether or not a business succeeds. It is true that more people work outside the home these days.

Despite the fact that customers in Nigeria (and most African countries) are accustomed to our native staple foods such as rice, garri, yam, and many more. Most people consider fast food producers to be lazy and reckless because of our values.

1.3 PURPOSE OF THE STUDY

The overall goal of this study is to conduct an interview and evaluate the marketing methods used by fast food companies in Imo State. Thus, the study’s precise aims are as follows.

1. To examine the marketing methods used by fast food companies and their outcomes.

2. Identify the problems impeding the efficient marketing of fast food in Owerri and propose appropriate solutions.

3. To investigate the effects of frequent price changes in the fast food industry in Imo State.

4. To establish the popularity of fast food in the context of our conventional eating habits.

1.4 Significance of the Study

This research is valuable and essential in relation to the challenges being studied. The study aims to investigate the techniques used by fast food restaurants in Owerri, Imo State. The fast food sector will profit from the study because it aims to uncover the factors of fast food’s high or low appeal.

This is significant since the success of fast food is dependent on consumer desires, and how the study will aid in better satisfying consumers and reorienting the illusion of fast food consumption. As a result, it is believed that the findings of this study would provide a foundation for future research and references.

1.5 RESEARCH QUESTIONS.

The research questions are as follows.

1. What techniques do Mr. Biggs Owerri and Rennys Ihiagwa, Owerri employ to promote their product(s)?
2. How do these strategies benefit the marketing of their product(s)?

3. What are the shortcomings of these fast-food marketing strategies?

1.6 Statement of Hypothesis

The following hypotheses will be evaluated during the course of this investigation.

1. Ho: Marketing strategies do not improve the marketing of fast food.

H1: Marketing strategies help to improve fast food marketing.

2. Ho: The market techniques used by Mr. Biggs Owerri and Rennys, Ihagwa, Owerri do not increase people’s desire for fast food.

H1: The market methods used by Mr. Biggs Owerri and Rennys, Ihagwa, Owerri promote people’s appetite for quick food.

1.7 SCOPE OF THE STUDY

The scope of this study is limited to the activities of Mr. Biggs plants and Rennys in Owerri, Imo State. It covers all of Mr. Biggs and Rennys’ marketing methods, as well as the underlying difficulty that comes with them.

However, the study focusses on the evaluation of marketing methods used by fast food companies, with Mr. Biggs and Rennis serving as a survey. The research findings can be generalised to their plants throughout the country, as their role and activities are the same.

1.8 Limitations of the Study

Some limiting factors or constraints make it impossible to conduct extensive surveys on all of Mr. Biggs’ sales outlets in Imo State and Rennis, but only those in Owerri. Time, money, and a lack of information are among the constraints. a. TIME: The sourcing of books to which references were made was a very difficult problem. It was difficult to obtain textbooks, particularly those on marketing methods. It therefore took the researcher a questionable time before he could access some of the text volumes required to finish this poll.

b. FINANCE: Finance is one of the limiting factors to this research because, as a student who is dependent on his parents, he is not financially strong enough to meet all of the financial requirements that he requires in gathering information for this research work, such as photocopying materials and transportation to the plants of the two firms under survey in Owerri, where he needs information on the study under research.

c. INADEQUATE INFORMATION: The majority of the information required to accomplish this study work was not made available to the researcher since it was deemed confidential by the firms.

1.9 OPERATIONAL DEFINITION OF TERMS

1. MARKETING STRATEGIES: Marketing strategies involves all the activities put in place such as product planning, market diversification, marketing and distribution programme etc aimed at fulfilling the target market more effectively and efficiently.

2. CUSTOMER SATISFACTION: This is the process of ensuring that customers receive the goods and services or objects of value they require at the appropriate time, location, and combination.

3. FAST FOOD: Eat food quickly as a stopgap, particularly hamburgers, meat pies, and cotactch-egg doughnuts.

4. MENU: A list of courses served at a restaurant, such as Mr. Biggs and Rennis.

5. MARKETING: Marketing is the human effort aimed at identifying and satisfying consumers’ wants and requirements through the exchange process.

6. DISTRIBUTION CHANNEL: These are the marketing institutions that interchange product titles as they go from the production to the consuming point.

7. PRODUCT: A product is anything presented to the market for attention, acquisition, or use that has a monetary worth.

8. quick FOOD FIRMS: quick food firms are businesses that produce and sell quick meals to clients.

9. FAST FOOD CUSTOMERS: They are the patronizes or people who buy and eat fast food.

10. MARKET: A market is described as a group of people who have a demand and the purchasing power to meet it, as well as the willingness to spend it.