EFFECT OF SALES PROMOTION AS A TOOL FOR ACHIEVING CUSTOMERS BRAND LOYALTY IN THE TABLE WATER INDUSTRY
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EFFECT OF SALES PROMOTION AS A TOOL FOR ACHIEVING CUSTOMERS BRAND LOYALTY IN THE TABLE WATER INDUSTRY
ABSTRACT
This study looked into the relationship between effective sales promotion and customer happiness in the table water business.
To meet the study’s goals, a survey research design was employed to study the organisation, with 37 questionnaires distributed to respondents to collect firsthand knowledge. Following a critical study of the acquired data, the hypothesis was evaluated using the variance (ANOVA) statistical tool (method).
There is a strong correlation between good sales promotion and customer happiness in the table water sector, and table water companies’ aims are linked to their performance. Militating elements have been identified as mediating between efficient sales promotion and client satisfaction.
According to the conclusions of this investigation, the following were complimented. That numerous table water companies in the state and country as a whole implement additional sales promotion tools and educational initiatives.
Consumers should be informed through appropriate communication channels and efficient sales promotion methods. Government bodies should enact legislation to guide the operations of manufacturers.
Chapter one
1.1 Introduction
Sales promotions are defined as the process of promoting product sales or introducing new brands in a short period of time using various media. Sales promotions can attract brand switchers and produce significant sales in a short period of time.
They can encourage consumers to utilise higher-end, more up-market products while also stimulating consumers’ desire to explore new things.
The effect of sales promotion is that buyers who purchase one product are persuaded to purchase another product at the same time at a significantly reduced price or for free. These gifts may be included with the purchase or sent via mail.
The demonstration hands out samples to viewers and demonstrates how to utilise the product. This method of promotion is frequently used to sell cosmetics, apparel, small electrical appliances,
and table water, among other things. The produce provides free samples to build customer confidence in the brand and achieve the goal of selling the product through trial use.
Such samples can be given to people’s homes, mailed, distributed in stores, or attached to another product. Companies reward bulk purchasers and long-term consumers with financial awards, rebates, gifts, and other types of incentives to encourage them to provide ongoing support.
1.2 Statement of Problem
Despite the fact that profounders and proponents have previously and continue to emphasise the importance of sales promotion in the growth of businesses and non-profit organisations, many managers, particularly those in the small and medium-sized manufacturing industry, demonstrate a high level of ignorance in its application.
The reason for most organisations’ neglect of sales promotion can be linked back to bottlenecks associated with it, such as high costs, short time frames, and insufficient incentives provided during the programme.
It is also perceived negatively by consumers as exploitative and untrue. This is why the study was conducted to determine the impact of sales promotion on the marketing growth of the constant table water companies in Imo state.
1.3 The purpose of the study
The study’s major focus is on determining the degree of the relationship between sales promotion and organisational objectives in the table water business. Furthermore, it identifies the following specific objectives:
The impact of timing sales promotions on an organization’s business growth.
How effective sales promotional incentives are in meeting organisational goals.
Whether the sales promotion cost structure is in line with the industry’s organisational expansion.
If moderating variables (competition, technology, economic considerations, and government policy) influence the link between sales promotion and organisational growth in the table water business.
1.4 RESEARCH QUESTIONS.
How effective are sales promotional incentives in helping organisations achieve their objectives?
What is the degree to which sales promotional timing enhances an organization’s business growth?
Does the cost structure of sales promotion align with the organisational goals of the table water industry?
Do moderating factors affect the relationship between sales promotion and organisational growth?
1.5 Statement of Hypothesis
The Oxford Advanced Dictionary describes a hypothesis as an idea or suggestion based on existing facts and used as a foundation for reasoning or further inquiry. There are two types of hypotheses: (Hi) alternative and (Ho).
The null hypothesis states that there is no significant difference between the objectives of contention, but the alternative hypothesis is designed to contradict the null hypothesis for the purpose of this study, which we will examine.
Ho1: There is no significant association between sales promotion and marketing growth in medium-sized commercial enterprises.
Ho2: Moderating variables do not affect the association between sales promotion and organisational performance.
1.6 Significance of the Study
This study was conducted to evaluate the relationship between sales promotion and organisational performance, with the hope that the findings will provide a long-term remedy to any ineffective operations at Up Dike Industry Limited.
Furthermore, the study’s findings and recommendations will benefit other companies in the same industries. Both buyers and readers will find this post inspiring because it will enhance their awareness of the issue.
Finally, students and experts who are interested in this topic might build on the findings of this study.
1.7 Scope and Limitations of the Study
The scope of this study is determined in terms of the research issue, the effectiveness of sales promotion in generating consumer brand loyalty in the sachet water business in Owerri, Imo state.
The researcher faced the following minor obstacles while conducting this study: time and the financial resources required to complete the research properly.
Major constraints encountered include a lack of current literature and difficulty accessing the internet for journals and articles, bias responses, respondents’ refusal to return questionnaires, audience/shyness away from the interview, and difficulty in determining an appropriate statistical tool to test hypothesis.
1.8 Operation Definition of Terms
ADVERTISING: Any paid type of non-personal presentation and promotion of ideas, products, or services by an identified sponsor.
A brand is a name, term, sign, or symbols used to identify and differentiate the goods or services of one or more sellers from those of competitors.
COUPONS: A piece of paper from the manufacturer or his middleman entitles the holder to a discount on a specific product. They are certificates that provide purchasers with a discount when they purchase a specific product in exchange for an invitation to quest.
SALES PROMOTION: The employment of a short-term inducement to generate sales.
EXHIBITION: The exhibition of a company’s goods or services for promotional purposes, particularly the assembling of a large number of such displays that are either visible to the general public or only to encourage inquiries.
ORGANISATION: A profit-driven enterprise that generates goods and services for society.
PRIVATE/PUBLIC VENTURES: Business projects or activities undertaken by an individual or a government entity.
WORLD CLASS MULTINATIONAL: A business organisation that operates in or involves multiple countries.
PROFIT/NON-PROFIT MAKING ORGANISATION: A firm or organisation that makes or will make a profit, as opposed to a business that is not profit-oriented in terms of socioeconomics and politics. The study of society, economics, and politics.
COMMUNICATION MIX: Variables employed by marketers to reach their target audiences.
brief TERM INCENTIVE: An enticement designed to encourage an individual for a brief length of time.
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