EFFECT OF PRICING STRATEGIES ON THE MARKETING OF AGRICULTURAL PRODUCTS IN ENUGU STATE
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EFFECT OF PRICING STRATEGIES ON THE MARKETING OF AGRICULTURAL PRODUCTS IN ENUGU STATE
Chapter one
INTRODUCTION
Today, just saying the word marketing conjures up a slew of associations and implications for the average person. Any layman must understand and interpret the term “marketing” to mean the same thing as trade.
However, to a professional, marketing begins before manufacturing and concludes with consumption. We also discuss the concept of societal marketing, which considers the entire society while doing anything, as opposed to commerce, which focuses on selling.
In order to define the term marketing, it is useful to review certain definitions provided by authorities and specialists in the industry. It should also be emphasised that there is no universally acknowledged definition of marketing;
rather, each person attempts to define marketing in terms of the functions he does, therefore we would not be mistaken if we said that there are as many definitions of marketing as there are marketers.
According to Philip Kotler (1980), marketing is “human activity directed at satisfying needs and wants through the exchange process.” This definition uses important concepts as operational words, such as needs, wants, and exchange.
Needs is defined as a condition of perceived deprivation in a person. Wants are the manifestation of human wants as they are shaped by a person’s culture and personal growth.
And desire must be backed by money in order to be important to the advertiser. Exchange is the process of receiving a desired object from someone in exchange for something valuable.
Nwokoye (1981) defined marketing as “the set of activities that facilitate exchange transactions involving economic goods and services with the ultimate goal of satisfying human needs.”
Product creation, manufacture, packaging, branding, transportation, storage, advertising, distribution, pricing, and other operations are all carried out here.
According to Ifezue (1990), marketing is “the process of identifying, anticipating, and satisfying consumer needs and wants through the conception, promotion, mutual exchange, and physical distribution of economic goods and services.”
However, the Institute of Marketing, London (1945) described marketing as “a management process that identifies, anticipates, and supplies consumers’ needs efficiently and profitably.”
According to the preceding definition, a market is one that encompasses a wide range of activities, places a high value on consumer happiness, and generates profits for marketers.
According to the definitions provided above, marketing of agricultural produce (Rice) can be defined as the application of marketing expertise to rice marketing.
It may be true to state that the market begins when farmers plan their output in response to predicted market demand, then pricing the products in reference to the existing market price, and finally reaching the ultimate consumer.
‘Because of the foregoing, we decided to conduct this study to determine the pricing and techniques utilised in holding the produce (rice) and to give recommendations on how to improve the produce’s marketing.
By the end of this project, we will be able to identify the techniques utilised in rice pricing and determine whether any gaps in the strategies are to blame for the insufficient supply of rice to consumers who require the product.
1.1 Statement of the Problem
Rice output used to be extremely low, and as a result, rice was only available to the wealthy. The reason for this is because the production was left unmechanized, and while some attempts were made to increase the put, not much was accomplished.
We chose to investigate the issues associated with rice marketing in Enugu State for the reasons stated above. The concerns found fall into the following categories:
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