EFFECT OF MARKETING PLANNING ON THE PERFORMANCE OF SERVICE ORGANIZATION
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EFFECT OF MARKETING PLANNING ON THE PERFORMANCE OF SERVICE ORGANIZATION
ABSTRACT
This research study examined the impact of Marketing Planning on a performance services organisation. Suggest possible solutions to some of the difficulties encountered while carrying out marketing planning. The research methods used for data collection were primarily questionnaires and personal interviews, both of which are primary sources.
Secondary sources were also used in the research. Following analysis, key findings were identified and a conclusion was formed. The findings found that a lack of proper knowledge on the company’s strengths and weaknesses is a barrier to effective marketing strategy and a lack of collaboration from others.
It was suggested that a planning committee be formed inside the business department. The company’s sales team should provide information regarding competitor activity and client reactions to marketing activities.
Chapter one
INTRODUCTION
1.1 Background for the Study
Marketing planning is critical to business since it begins with the selection of an organization’s marketing objectives and the development of strategies and technical programmes to attain these objectives,
which enable any business organisation achieve its overall goals. Some organisations do not prioritise planning; instead, they rely on day-to-day operations and whatever comes their way.
This is also due to the fact that large organisations have too much at stake, whereas other companies plan but execute poorly, which is also undesirable. Good management needs an organisation to plan ahead of time so that it is not caught off guard by environmental dynamics.
Many marketing managers believe that marketing planning is critical to a company’s long-term sustainability. Most marketing programmes are short-term, spanning periods of less than two years. Long-term programmes did not exist.
This is highly regrettable since it demonstrates a lack of marketing sophistication among the huge – Nigerian industrial establishment. Marketing planning is not just because our current problem is a production problem when established as a result of a marketing strategy,
such as evaluating a new performance or revising an existing plan. As a result, its marketing strategy would focus on analysing available resources and approaches for accessing opportunities.
Managers might then design marketing objectives and strategies. Companies should recognise the need of including information systems in their plans so that they can receive regular feedback and keep their marketing actions focused on the goal.
1.2 Statement of the Problem
The impact of planning and decision making are two critical and interconnected aspects of administration that must be understood and implemented correctly in order to successfully attain organisational goals.
It has been a lack of awareness of the complexities of planning and decision making that has occasionally influenced organisational authorities into adopting judgements and plans that are unprofitable to the continuation of their operations.
In order to solve this problem with viable solutions, this study is being conducted to investigate various approaches to the effect of planning as well as improving effectiveness in order to create an atmosphere in which employees in the organisation will collaborate in a cordial environment as a result of good planning and decision making.
1.3 Research Questions.
(1) Do most Nigerian banks practise marketing planning?
(2) Has the reaction to whether the bouting operation’s marketing approach in terms of product and service performance resulted in increased patronage?
(3) Marketing planning does not increase profitability in most service organisations?
1.4 Object of the Study
As a result, a discussion of this subject aims to construct a wide planning and development framework that establishes principles and stand-ins for more effective and complete planning.
1. To understand whether marketing strategy is important to the efficient performance of a commercial organisation.
2. To clarify if banks in Nigeria engage in marketing.
3. To determine whether marketing planning improves profitability in service organisations.
1.5 Statement of Hypothesis
1. Marketing planning is useless to the efficient operation of a commercial organisation.
2. Most Nigerian banks do not use marketing.
1.6 Scope of the Study
The researcher will look at how organisations organise their marketing activities to accomplish their stated goals. Access Bank of Nigeria PLC’s service and marketing operations have served as a case study for the researcher’s work, allowing the researcher to quickly evaluate an outline plan in order to compare real results to the company’s aims.
However, if necessary, data collecting will be limited to the marketing strategy, with an emphasis on the need of good marketing planning and the benefits of having one.
1.7 Significance of the Study
Due to the current economic scenario, marketing planning is required to minimise challenges encountered by businesses when seeking to combine and coordinate their marketing efforts into concrete marketing programmes.
Some businesses are unaware that marketing strategy can improve service quality and organisation growth while also creating assurance and tangibility of services in our surroundings.
A corporation or its implications, such as education and technical skills among service operators, will benefit not only the service firm or sector, but also the state and federal governments. Its goal is to establish the importance of services marketing in a service-oriented organisation.
1.8 Limitations of the Study
It should be emphasised at this point that a lot of challenges were faced throughout the course of this research activity, among them are:
The attitude of the respondents provided a significant challenge for the researcher; they questioned the actual goal of using the information as desired, and some of the respondents were redundant and too busy to complete the questionnaire. The respondents’ expense was really bad.
Time: Although the study took place in the second semester, the academic calendar was clearly too short. Aside from that, interactions with employees and management at the organisations visited were always scheduled within regular classroom hours.
Lack of Book: There were no books available for this work when it was first expected.
1.9 Operation Definition of Terms
A market is a venue where buyers and sellers exchange title to products or services. It encompasses any location where the physical transfer of materialised occurs; there are two criteria to consider.
Marketing is defined by the Institute of Market as the management process responsible for understanding and meeting client expectations in a portable manner.
The targeted market is a well-defined set of clients who require accompanying plans to be more profitable than competitors.
Planning is the prepared course of action that an organisation or individual takes to achieve a specific set of established goals.
Threats and Opportunities: These are external elements that affect a company organisation and can be caused by government regulations or market structures.
A threat is a challenge posed by an unfavourable trend or unique incident that, if not addressed via purposeful marketing effort, will result in product stagnation or denial.
Marketing Effort: This term refers to the development of a marketing strength through specific product and pricing decisions. The marketing mix refers to the distribution and promotion necessary to meet the needs of the target market and, ideally, provide strategy.
Marketing planning entails establishing goals and strategies for the firm’s marketing efforts, as well as developing long-term plans for the primary ingredients in the marketing mix.
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