IMPACT MARKETING RESEARCH ON THE MARKETING PERFORMANCE OF SOFT DRINK IN NIGERIA
Need help with a related project topic or New topic? Send Us Your Topic
DOWNLOAD THE COMPLETE PROJECT MATERIAL
IMPACT MARKETING RESEARCH ON THE MARKETING PERFORMANCE OF SOFT DRINK IN NIGERIA
ABSTRACT
The purpose of this study is to determine the impact of marketing research on the marketing of soft drinks in the 7-Up bottling industry. The first chapter, which is the introduction, revealed the background of the study, a statement of the problems,
and the study’s objectives, which included determining whether marketing research is a better way of satisfying customer needs, determining whether a research study is necessary for marketing soft drinks in the 7-Up company, and so on.
This chapter mentioned the abia research questions, the statement of hypothesis, and the significance of the study. The second chapter examines a literature study that demonstrates the definition of marketing and consumer demands marketing concepts, as well as the importance of marketing research.
Chapter three outlines the research methodology, which demonstrates the methods and procedures used to collect information for the study. The following elements were shown: research, study area design, study population, sample size determination, and sampling methodologies.
The data was acquired using a questionnaire distributed to the respondents. The collected data was analysed with the sample percentage approach. The formulated study hypothesis was investigated using chi-square statistical methods.
Chapter four is data presentation and analysis; the collected questionnaire, which was filled out by the respondents, was analysed to find that 73% of the respondents stated that good marketing research has an impact on the company’s product quality.
Again, 86% of respondents indicated that customers do not complain about the company’s products. 96% of respondents stated that marketing research helps the organisation achieve its goals and objectives.
The two hypotheses investigated yielded the following results:
Marketing research has a tremendous impact on company goals and objectives.
Chapter five presented the summary, conclusion, and recommendation. The organisation should continue to use efficient marketing. Resrach helps people achieve their aims and objectives. The organisation should conduct a marketing survey to identify any changes in client needs and wants.
Chapter one
INTRODUCTION
According to the definition of marketing, marketing is the performance of business activities that direct the flow of goods and services from the point of production to the point of consumption, with the addition of the definition that states it is the identification, anticipation, and profit to the firm.
To attain the above-mentioned marketing aims and goals, efficient marketing research must be conducted to allow the marketer to realise his or her objectives.
As a result, our goal in this chapter is to understand what marketing research is and how to use it to increase sales, to know who our target market is, what they want, and when they want it, and to make it available to them at the proper moment.
Background of the Study
Marketing is defined as the business operations that direct the flow of goods and services from production to consumption. It is the identification, anticipation, and efficient satisfying of customers at a profit for the company. In achieving the aforementioned marketing aims and goals. Marketing cannot be accomplished without marketing research.
So, what is marketing research? Before answering the topic, let me note that any given firm’s performance in a saturated market is heavily dependent on its ability to deliver a want-satisfying product.
The extent to which a product meets a consumer’s needs is determined by the producer’s capacity to grasp what the consumer genuinely requires.
As a result, marketing research gives channels for meeting the demands of consumers. Marketing research provides information on what to create as well as the best section of the market with the most opportunities. As a result, research firms find visible sectors that can be profitably cultivated. Onuoha, J. Kelechi.
Marketing Management (2007:109).
A better comprehension of the measurement of marketing research should begin with a good appreciation of the terms marketing and research. Marketing has been defined above as a student of marketing;
we know that market is concerned with the production, pricing, distribution, and promotion of goods and services in such a way that both the producer and the consumer’s interests are met. According to Longman’s Dictionary of Contemporary English, research has the following meaning.
A service study of a subject that seeks to find new facts or test new ideas.
The act of gathering information about something you are interested in or need to know about.
to conduct extensive research on a subject, particularly in order to find new facts or test new theories.
To provide all relevant facts and information about something.
The marriage of the meanings of two words results in a clearer and more comprehensive unerstanding of the term marketing research. Ezirim Aloy Chinedu (2004): 12.
Marketing research is discovering who clients are and what they want (modern A R 1987:35). According to the definition, the goal of market research is to discover customers and predict what they will desire in the future.
The function of conducting marketing research is that of the marketing department in an organisation. To avoid bias, firms are asked to hire independent marketing consultants or carry it out jointly. The information gathered through market research can be useful in making informed decisions.
According to Okafor (1998), knowledge from market research can be employed in the following areas:
Who are the customers, where are they located, and what are their characteristics?
Who are the organization’s non-buyers, and what are their reasons for not purchasing?
How many producers are there in the particular industry?
What size is the market?
How feasible is the market?
A lot of definitions have been provided for this idea. Paterson R.A (1982:47) defines marketing research as an objective formal method for systematically collecting, analysing, and interpreting data in order to provide actionable knowledge for marketing decision making.
According to Onuoha J. Kelechi and Bassi BP (2004:16), marketing research is the systematic collection and analysis of data with the goal of solving marketing challenges.
Perhaps the simplest method to describe the distinction between marketing research and marketing research could be noticed from their coverage, as shown below. According to Wilmishurst John (1978:123), profit-oriented organisations perform marketing research in the following areas:
Product research includes new product screening, acceptance, packaging, and price.
Sales operation research: sales force effectiveness, sales territory, method of distribution, Oracle mentality, and sales statistics Sales Forecasting
User market research: market size, market potential trends, and market share analysis.
Economic and business research include economic trends and forecasts, business trends and forecasts, political trends and forecasts, social trends and forecasts, competitive intelligence, and inter-company/inter-industry comparisons. Onuoha J. Kelechi (2007: 112).
The American Marketing Association defines marketing research as “the systematic gathering, recording, and analysing of data about problems relating to the marketing of goods and services.”
This is a broad definition that includes investigations into market segments, product differentiation, channel relationships, the effectiveness of salespeople and advertising, product pricing, and so on.
The key to emphasise is that marketing research is not limited to investigating the principal type of marketing problem, but rather extends to all stages of marketing.
The primary goal of any marketing research is to produce data that will help identify marketing problems so that solutions can be proposed.
Statement of Problems
Naturally, any business exists to achieve its aims, which are primarily to make a profit. However, before such profit can be made, the organisation must encounter obstacles that may impede the performance of the firm.
As a result, it is unclear whether bad research effort has an impact on product quality.
It is also unclear to the researchers whether using marketing research is the best strategy to meet the needs of customers.
Furthermore, the research question whether the research study is important for soft drink marketing utilising 7-Up Bottling Company as a case study.
GOALS OF THE STUDY
To investigate whether bad research work has any impact on product quality.
To determine whether the utilisation of marketing research is the superior approach of satisfying the customers’ wants.
To determine if research study is necessary for the marketing of soft drinks.
To assess if marketing research has any marketing implications for soft drinks.
To determine whether marketing research increases sales volume for the company’s products.
To determine whether marketing research helps the organisation reach its goals and objectives.
To determine whether the marketing research budget they establish is aligned with the firm’s objectives.
RESEARCH QUESTIONS:
The research during his study asked several questions, that is, in the course of this research, the following questions will be addressed:
Is there any useful contribution that the 7-Up Bottling Company, in particular, and soft drinks in general, have made to the development of the Nigerian economy?
Is there a link between poor research and worse product quality?
Is using marketing research a better method to meet client needs?
Is research necessary for soft drink marketing?
Does marketing research have any marketing implications for soft drinks?
Does marketing research assist the organisation achieve its goals and objectives?
1.5 Statement of Hypothesis
The following hypotheses are formed.
Hypothesis I.
Ho: no substantial association exists between effective marketing research and increasing sales volume.
Ho. There is a considerable association between successful marketing research and greater sales volume.
Hypothesis II.
Ho: Marketing research has no substantial relevance to the company’s aims and objectives.
Hello: there is a strong correlation between marketing research and the company’s aims and objectives.
Significance of the Study
The research study would assist the 7-Up Bottling Company in particular, as well as other soft drink companies in general, that produce the same type of product.
This study is significant to the researcher since it will allow him to gain additional expertise in the field of marketing research. It serves as a guidance for the case study and other businesses conducting marketing research for their products.
According to the research, it is a condition for the award of the Higher National Diploma certificate. Other academics and students will utilise this study work to do research on related issues.
The study is significant since it will contribute to the body of academic knowledge available as a research study.
It is also relevant in the sense that it will be used as a reference for problems. This study will also help investors in their respective industries, as well as the government.
1.7 SCOPE OF THE STUIDY
The purpose of this study is to examine the impact of marketing research on the marketing of soft drinks in 7 up plc Aba. And information is obtained from the workforce of the 7-Up bottling company Aba.
This research endeavour will be confined to 7 up panies in Aba. Personal interviews will be held with the company’s senior staff. Also, present and future customers will be interviewed in regard to his theme.
1.8 Limitations of the Study
During the course of conducting this investigation, the researcher experienced certain constraints, which included
Constraints include financial, time, and non-research-related factors.
1.9 Definition of Terms
IDENTIFICATION: the process of demonstrating, proving, or recognising who or what someone or something is.
ANITCIPATION: the belief that something awful will happen in the future and that you can control it now.
3 SATISFACTION: the excellent sensation that you have accomplished what you wish to do.
SATURATED: to thoroughly satisfy someone without adding anything extra.
SEGMENT: the process of separating things from one another.
NEEDS: this is the deepest want of a human.
WANT: These are the things that humans aspire to have when given the opportunity.
VIABLE: something that is feasible and likely to succeed.
BIAS is a strong sentiment in favour of or against one group of individuals.
ACQUISITION: the act of acquiring something, particularly knowledge of skin
DIVERSIFICATION: Developing a broader variety of product interest skills in order to increase success or reduce risk.
FORECAST: A declaration about what will happen in the future based on current information.
PROFFERED: A solution or counsel given to someone.
14.SYSTEMATIC: carried out in accordance with a predetermined procedure.
Need help with a related project topic or New topic? Send Us Your Topic