EFFECTIVE MARKETING STRATEGIES FOR IMPROVED PERFORMANCE OF MANUFACTURING COMPANY IN ABA METROPOLIS
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EFFECTIVE MARKETING STRATEGIES FOR IMPROVED PERFORMANCE OF MANUFACTURING COMPANY IN ABA METROPOLIS
Chapter one
1.0 Introduction:
People in Nigeria, where the role of marketing has yet to be fully acknowledged, talk about promoting their products as if it were a specific problem. A effective marketing strategy must explain an organisation where it wants to be in the long run,
which is why it is commonly referred to as a continuous process. It must be based on a carefully yet thoroughly planned action. Baker (1995:17)
The strategy part of the plan should be based on what is known about the competitor’s strength and weakness, the physical qualities of the battleground, the friendly or hostile mood of individuals who held the region, and, of course, the nature of resources accessible to the organisation. Stanton (1982, 35).
There is no action in the business organisation that does not require the marketer to make the correct decision about the four components of the marketing mix – pricing, product, place/distribution, and promotion – using marketing strategy.
These main components must be coordinated and pushed into a single effective plan if the product is to perform successfully in the market. Kotler (1997, 315)
The analogy to business tactics is straightforward and relevant in business and marketing, where the terrain is the market place in particular, as well as the economic, political, social, and technological environment overall.
The resources include workers with diverse talents and knowledge, as well as factory laboratories, transportation systems, financial resources, and the business reputation. Henry (1984:72)
Furthermore, depending on the nature of the firm, strategies may include additional dimensions. Marketing strategy is fundamental to any business plan. Businesses exist to offer items to markets in such a way that they maximise profits while doing so.
All of them are marketing efforts. An organization’s objectives must be considered, primarily customer happiness and growing sales volume in order to maximise earnings.
To summarise, Lever Brother Nigeria Plc, as one of Nigeria’s main manufacturing outfits, must reflect on and examine marketing techniques as a method of market success, as well as predict the actions and reactions of their competitors, according to Nwosu (1996: 112).
1.1 HISTORICAL BACKGROUND INFORMATION FOR LEVER BROTHERS PLC:
Lever Brothers Nigeria Plc is one of Nigeria’s biggest international enterprises. And there is no way to discuss the history of Lever Brothers Plc without mentioning the existence and effect of Unilever Brothers (Nig.) Plc, its parent and global corporation based in London. Unilever’s history is also tied to its founder, William Hesketa Lever.
William H. Lever began at the youthful age of 19 in 1885. He began by purchasing the “purest” soap from the local soap store. In other words, he was the first to begin selling the faslets,
wrapping them in a bar of customised advertising in the local newspaper. “No soap does this buyer business than advertising,” was his standard phrase.
In 1910, William H. Lever purchased a Liverpool from Nigerian traders who specialised in timber. Palm kernel crushing mills were built in 1910 at Oposo and Apapa (Lagos).
In 1920, Mr. Lever paid $8.6 million for the Niger company. This company amalgamated with African and Eastern Trading Company to become the United African Company (UAC) in 1929.
Unliever expanded its business operations into Nigeria when it was incorporated as West African Soap Company (WASC), till 124 in Apapa, where laundry soap of the key, sunlight, and magret brands were initially manufactured in 1952. Lux tablet was introduced, and a magarine factory, registered as Van Bergh (Nig) Ltd, was established in Apapa.
In 1955, WASC and Van Ban Bergh (Nig) Limited amalgamated and formed Lever Brothers Nigeria Plc. Under the same administration, the Aba branch was created in 1957, along with a soap plant to begin manufacturing of laundry soap.
Currently, Lever Brothers Nigeria Plc has expanded into the manufacturing of a wide range of products such as:
1. Cream and lotion items.
2. Toilet/laundry soaps.
3. Oral Care Products
4. Baby Care Products
5. Hair Care Products
6. Beverages and Drinks
7. Detergents
8. Toothpaste
9. Fabric washing/house cleaning
10. Various lever/industrial floor care products.
11. Cubes, etc.
Lever Brothers Nigeria PLc has also acquired a stake in Lipton (Nig.) Ltd., the manufacturer of Lipton tea bags and Boncape coffee.
This section’s performance demonstrates that Lever Brothers (Nig.) Plc recognised the necessity for a marketing plan as early as 1885 and took innovative initiatives to penetrate the product market.
Source: An unpublished manual history of Lever Brothers’ current organisation. Department of Management Training and Development, LBN, Aba, 1997.
1.2 Statement of Problem:
Effective marketing methods have made a significant contribution to achieving post-purchase happiness among customers who use a specific product in the market. Well-established and implemented marketing strategies have played an important role in the success of Nigerian businesses.
Every firm that wants to increase its marketing must develop solid marketing strategies to ensure efficient and productive operations. These strategies, when applied correctly, should boost the firm’s sales and profitability, as well as enable the organisation to fulfil its stated goals/objectives. Nwaizugbo (2004): 102.
Lever Brothers Plc’s product line, which includes cream and lotion products, Omo detergent, baby care products, oral care products, hair relaxer, close-up tooth paste, and many others, has contributed significantly to the firm’s success in recent years,
owing to efficient and effective marketing strategies developed by them, as well as the maintenance of market share due to good product penetration in the market.
However, for some time now, Lever Brothers Plc has been facing poor sales of its products in the market as a result of the following:
– Poor external business environment.
– The products’ inability to compete with others in the market.
– Customer’s reaction to repeat purchases
As a result of the aforementioned challenges, the researcher seeks to identify answers and make recommendations.
1.3 Study Objectives:
Most texts, studies, and write-ups have hitherto focused entirely on the marketing concept and the four P’s of marketing, with little or no emphasis paid to marketing techniques. As a result of this disrespect, this research focuses on the following:
1. Determine the key factors of Lever Brothers’ poor market sales.
2. Identify marketing tactics for increasing product sales and profitability.
3. Determine whether the characteristics of the various products sold by LBN have contributed to a rise in sales.
4. Determine whether Lever Brothers Plc’s pricing initiatives have helped to enhance product sales in the marketplace.
5. Determine whether LBN’s distribution approach has helped to enhance product sales.
6. To determine whether LBN’s promotional techniques contributed to an increase in product sales in the market.
1.4 Formulation of Hypotheses:
H0: LBN Plc’s product strategy have not increased its revenues.
H1: LBN Plc’s product strategy have helped it expand revenues.
H0: LBN’s pricing initiatives have not increased product sales.
H2: LBN’s pricing methods have helped to enhance the sales of its products.
H3:LBN’s distribution techniques have failed to secure the availability of their items in the marketplace.
H0: LBN’s promotional methods led to increased product sales.
H4: LBN’s overall advertising methods have not increased product sales.
H0: LBN’s overall marketing efforts have not increased product sales.
H5: Overall, LBN’s marketing strategies have helped to enhance product sales.
1.5 Significance of the Study:
This study is being conducted in order to assist in the resolution of an issue(s), and if the problem is resolved, individuals affected will benefit.
The findings indicate that Lever Brothers Plc’s biggest difficulties are marketing techniques. It is intended that this study will assist the organisation in developing better marketing strategies that will improve the overall marketing performance of products while also allowing them to achieve their business objectives and capitalise on all available chances.
Furthermore, the recommendations made would provide initial steps in major decision areas facing the company, such as determining the current marketing strategies that LBN can use to improve the performance of its products in the market place, as well as vital expansion of business activities.
Furthermore, the study will inform readers that the success of a firm is dependent on effective marketing methods that generate a positive image for the organisation while also increasing sales revenue.
It will also broaden the marketer’s understanding of the many marketing tactics available and how they may be effectively used to any company’s products to improve the performance of their firm.
It would also greatly benefit LBN Plc by providing them with the necessary marketing techniques to implement in order to achieve high sales.
Above all, the study will assist others, such as businesspeople and industrialists, in understanding the importance of marketing techniques and how they may be effectively employed to attract new markets while also increasing market share in existing markets.
1.6 Scope of the Study:
The study examines several marketing methods using the 4ps to improve the performance of Lever Brothers’ products, with a focus on management, distributors, and customers of Lever Brothers Plc Products in Aba, Abia State.
1.7 Limitations of the Study:
The researcher encountered numerous obstacles while working on this subject, including:
Respondents’ Apathy:
The researcher’s inability to receive enough responses from his respondents hampered the achievement of the anticipated outcomes. Inadequate Finance:
The researcher’s visits to the Aba-based company were also limited due to a lack of funding. Insufficient time:
The time allotted to complete this task was insufficient, and due to other academic obligations, the researcher would have travelled to other locations to gather more information for the study.
1.8 Definition of Terms:
1. Market: Buyers or consumers.
2. Marketing Strategies: A consistent, reasonable, and practical set of principles by which a corporation aspires to attain its long-term customer satisfaction and profitability goals in a given competitive market.
3. Market Leader: A company in an industry with the biggest market share typically leads other companies in price changes, new product debuts, distribution coverage, and promotion spending.
4. Market Challenger: A second-place company in an industry that is working hard to outperform the leader by growing its market share.
5. Positioning: The technique of tailoring a product to one or more segments of the broad market in such a way that it stands out from the competitors and maximises sales and profit potential.
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