EFFECTIVE MARKETING STRATEGIES FOR IMPROVED PERFORMANCE OF NON – DURABLE CONSUMER PRODUCTS
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EFFECTIVE MARKETING STRATEGIES FOR IMPROVED PERFORMANCE OF NON – DURABLE CONSUMER PRODUCTS
ABSTRACT
This research project is extremely important for Unicuer Nigeria Plc. The study was inspired by the need to increase Omo detergent’s performance using efficient marketing methods. This research effort has the following objectives:
a. Identify marketing tactics for increasing product sales and profitability.
b. Determine whether LBN’s pricing approaches have increased Omo detergent sales.
c. Determine whether LBN’s distribution technique has helped increase its sales.
d. Determine whether LBN’s distribution approach has contributed to the availability of Omo detergent in the market.
The research challenge was solved using both primary and secondary data. The study’s population included employees of Unilever Nigerian Plc. Omo detergent is distributed and used.
Data collection instruments included a questionnaire, an oral interview, tables, frequencies, and percentages for presenting and analysing the acquired data.
The chi-square statistic was utilised to assess the various hypotheses, as this was a goodness test.
The researcher’s data analysis yielded the following findings:
– Approximately 63.4% of users are happy with the quality of Omo detergent on the market.
– Respondents agreed that the price of Omo detergent is moderate.
– Approximately 95.1% of users are satisfied with the availability of Omo detergent on the market.
– Approximately 96.6 percent of respondents agreed that the indirect distribution structure ensured the availability of Omo detergent on the market.
– Approximately 54.8% of those who consumed the product believed that the quality and pricing were satisfactory.
– Distributors agreed that Omo detergent has been well accepted by consumers and is selling or moving in the market.
– Unilever Nigeria Plc’s overall marketing initiatives have significantly increased product sales and profitability.
Based on the data, the researcher suggested that the company should:
1. Maintain or continuously improve the high quality of Omo detergent.
undertake periodic regard studies to measure the product’s performance in the market.
2. Conduct periodic research studies to examine how the product performs on the market.
3. A set of consumer panels to provide input on the product’s performance.
4. Maintain adequate product supply during distribution to meet consumer demand.
5. Improve product advertising to further stimulate or boost sales.
The investigation concludes with the Omo detergent, which is one of Unilever Nigeria Plc’s main detergents. Has been successful, and the corporation should continue to market the product using effective marketing tactics.Chapter one
INTRODUCTION
Background of the study
People in Nigeria, where the value of marketing is still underappreciated, talk about selling their product as if it were our problem.
A good marketing operation is based on thorough consideration and planning.
The strategy aspect of the plan should be based on what was known about the enemy’s strength and positioning, the physical characteristics of the battleground,
the financial and hostile sentiment of those who occupied the territory, and, of course, the strength and character of the commander’s available resources.
In this company organisation, there is a safeguard on activities where elements of marketing and marketing plans cannot be tracked. Marketers must consequently make the correct judgement regarding the four components of the marketing mix: pricing, product, place, and promotion.
These major components must be coordinated and integrated into a single successful plan if their product is to succeed in the market. The analogy of business strategies is straightforward
and useful in business and marketing, with the terrain being the market place in particular and the economic, prospective, social, and technological environment in general.
There are workers with a wide range of skills and knowledge, as well as factories, labs, transportation systems, financial resources, and the corporation’s reputation.
Furthermore, the product’s performance is heavily influenced by post-buy satisfaction; whether they are satisfied or dissatisfied with their purchase, potential consumers expect to gain satisfaction from the product when compared to others they have used previously.
Depending on the nature of the business, strategy may include more dimensions. A marketing plan is at the heart of any business strategy; businesses exist to supply products to markets, and the more effectively and efficiently they do so, the more they expand and profit.
Expectation thus plays an important role in the consumer’s reaction to a product; consumers build their expectations on information or messages obtained from vendors, friends, and other sources of information.
All of these are marketing efforts, and the organization’s goal, specifically profit maximisation, must be considered.
Conclusion plans must represent all aspects of the market and, most importantly, anticipate competitors’ actions and reactions.
HISTORICAL BACKGROUND INFORMATION FOR LEVER BROTHERS PLC.
There is no way to discuss the history of Lever Brothers Nigeria Plc. (LBN) without mentioning Unilever. Lever Brothers (Nig.) Plc is the parent and multi-national firm based in London. Unilever’s history is limited to its founder, William Hesketa Lever.
William H. Lever began at the youthful age of 19 and by 1985 had begun purchasing the cleanest soap from a local soap producer. In reality, he was the first man to begin selling faslets,
wrapping them in a bar of specific advertising in the local newspaper. “No soap does his buyer business than advertising” was his customary shagan. Its innovation clearly aimed to lead to current brand and product management.
In 1910, William Hesketa Lever purchased a River Pool forum in Nigeria, which dealt primarily with lumber.
Palm palm crushing mills were built in 1910 at Oposo and Apapa (Lagos). In 1920, Mr. Lever purchased the Niger Company for r8.6 million. This company merged with African and Eastern trading companies to form the United African Company (UAC) in 1929.
Unilever expanded its operations into Nigeria when it was incorporated as West African Soap Company (WASC) till 124 in Apapa, where laundry soap for the Key, Sunlight, and Magret brands was initially manufactured in 1952. When the Lux pill was introduced, the Magerine factory in Apapa, registered as Van Beign (Nig.) Ltd, was opened.
WASC and Van Beigh (Nig.) Ltd. merged in 1955 to establish Lever Brothers Nigeria Plc, which still exists today. Under the same administration, the Aba Branch opened in 1957 with a soap factory to begin producing laundry soap.
Today, Lever Brothers Nigeria Plc. produces a vast array of items, including;
a. Cream and lotion product.
b. Oral care product.
c. Baby Care Products
d. Hair Care Product.
e. Washing fabrics and cleaning the home
f. Diversify lever/industrial floor care products.
g. Beverage/drink product.
Lever Brothers Nigerian Plc. has also acquired a part of
Lipton (Nig.) Ltd manufactures Lipton Tea Bags and Boncafe Coffee. This section’s performance demonstrates that as early as 1885, Lever Brothers (Nig.) Plc. recognised the necessity for a marketing strategy and took new steps to penetrate the product market.
LEVER BROTHERS PLC’S ORGANISATION CHART.
CHAIRMAN
MANAGING DIRECTOR.
Commercial Director
Financial Director
Purchasing Director
Marketing Manager
Administration Manager
Chief Accountant
Store Manager
Sales Manager
Customer Secretary
Account Clerk
Clerk
Sales Supervisor
Receptionist
Messenger
Messenger
Research Development Unit
Clerk
Messenger
Messenger
Personal Director
SOURCE: Personnel department, Aba (1997).
STATEMENT OF PROBLEM
Post-purchase contentment has always been a key indicator of customer satisfaction with the goods in the market. Defective marketing strategies have contributed to the achievement of these aims. Well-established and implemented marketing strategies have been critical to the success of Nigerian businesses.
Every company that wants to increase its marketing must have effective marketing strategy for its operations. These effective techniques should boost the sales and profitability of such businesses while also assisting the organisation in achieving its goals.
Omo detergent, developed by Lever Brother Plc., has contributed to the firm’s recent success as a result of effective marketing initiatives. Omo detergent, one of the firm’s most successful products,
has maintained its market share thanks to strong product penetration. However, the company has been experiencing certain negative external business conditions for some time.
For example, poor product sales, the product’s incapacity to compete with other detergents on the market, etc. As a result of these problems, a research will be conducted and appropriate recommendations will be made.
GOALS OF THE STUDY
The study’s aims include:
a. Identify marketing tactics for increasing product sales and profitability.
b. Investigate the cause of the product’s poor market sales.
b. Determine whether LBN’s pricing method has helped increase sales of OMO detergent.
b. Determine if the quality of Omo detergent has helped to improve its sales.
a. Determine whether LBN’s distribution method has helped to ensure the availability of Omo detergent in the market.
f. Determine whether LBN’s promotional methods have increased Omo sales.
Statement of Hypothesis
1. Omo’s quality has not contributed to an increase in sales.
Omo’s quality has contributed to an increase in sales.
2. Lever Brothers’ pricing structure has not helped to improve Omo sales.
Lever Brother’s pricing approach has helped to enhance Omo sales.
3. LBN’s distribution approach has not helped to secure Omo’s availability on the market.
The distribution mechanism used by LBN has helped to ensure Omo’s availability in the market.
4. LBN’s overall promotional methods have not increased Omo sales.
LBN’s overall promotional methods have contributed to enhance Omo sales.
5. LBN’s overall marketing techniques have not increased Omo sales.
LBN’s overall marketing techniques have contributed to enhance Omo sales.
Significance of the Study
As can be seen from the problem statement, Lever Brothers’ (LBN) key difficulties are in marketing. It is hoped that the study would assist the company in developing better marketing strategies that will improve the overall marketing performance of the company’s products and help the company achieve its business objectives.
The recommendations made in this study, if accepted and implemented, would be the first step in making key decisions about the current marketing techniques that may be utilised to improve the performance of the product (Omo detergent) as well as for the virtual development of the business activities.
The study will also inform the reader that the success of a corporation is dependent on effective marketing methods that build a positive image for the company and increase sales revenue.
It will also provide the researcher with a better understanding of the numerous tactics available and how they may be used to the company’s products to boost business performance.
Above all, the study will assist individuals understand the importance of marketing tactics and how they may be used to recruit new clients from the present market.
Definition of Major Terms
Marketing is a social and managerial process in which individual ad groups achieve what they need and want by developing and trading products and value with one another.
Market: – The group of actual and potential buyers of a product.
Market penetration is a firm growth strategy that involves growing sales of a present product to a specific market group while making no changes to the product itself.
Positioning is the skill of fitting into one or more segments of the wide market in such a way that it stands out from the competition and maximises opportunities for increased sales and profit.
Market challenge: – A runner-up in a competitive industry vying for a larger market share.
Market plan Development: – Designing an initial market plan for a new product based on its concept.
Market Leaders; – Firms with the biggest market share in an industry typically lead other firms in price changes, new product introduction, distribution coverage, and promotional spending.
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