IMPACT OF MARKETING MIX IN THE ACCOMPLISHMENT OF ORGANIZATION OBJECTIVE
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IMPACT OF MARKETING MIX IN THE ACCOMPLISHMENT OF ORGANIZATION OBJECTIVE
ABSTRACT
Marketing as a profession and academic study has undergone a rebirth, making its principles more inclusive and beneficial in their everyday application in enhancing product innovation??? The primary goal of this project is to determine the impact of “Marketing Mix” on the achievement of organisational objectives.
Over time, inadequate marketing communication has had a negative impact on the marketing mix, prompting us to ask the issue. How much is marketing communication (promotion) valued in terms of improving the good outcomes of other marketing variables?
Marketing communication is the effort of a firm or company to design and convey information about its product existence, features, terms, and benefits to its target markets via various mediums.
This study is expected to shed further light on how an appropriate marketing mix (product, price, promotion, and place) can help organisations achieve their goals.Chapter one
1.0 Introduction
1.1 General Background of the Subject Matter
This study focuses on the practical use of the marketing mix (product, price, promotion, and place) in achieving organisational goals. There are multiple definitions of marketing written by marketing enthusiasts and practitioners around the world. As a result, student lectures and marketing practitioners place a high value on any marketing-related tool or monograph they may obtain.
Marketing administration takes a managerial approach to marketing issues. Hence, marketing is an instinctive discipline. As a result, practitioners and scholars rely on principles, research, ideas, concepts, and approaches, as well as a problem-solving strategy,
to help them address global concerns. In general, a well-organized marketing economy generates multiple chances for profitable investment and promotes a high level of commercial activity.
However, if marketing operations are disregarded, returns on investment will suffer and the business endeavour would fail completely.
Looking at marketing from the perspective of a marketing manager, one may imagine that he is concerned with the direction of specific functions and activities that must result in specified outcomes.
Having developed this thought or idea logy, we can claim that: Marketing is the performance of business operations that direct the flow of goods and services from producers to consumers in order to please customers and achieve the firm’s objectives.
From this perspective, marketing can be defined as the activity of directing the flow of goods and services from the source (producer) to the client (consumer) or users.
Marketing is a managerial activity based on the economic functions of production, distribution, and consumption. Based on the debate thus far, we should attempt to create a link between marketing and marketing mix.
The marketing mix is an important idea in modern marketing. It is the word used to describe the four variables that form the foundation of a company’s marketing system: product, price, distribution system, and promotional activities. The application of these elements has a significant impact on marketing performance.
A firm’s marketing mix is defined as the specific blend of controllable marketing factors that the firm uses to achieve its goals in the target market:– P. Kotler.
It can also be defined as a collection of controllable internal marketing variables, including the four ps (product, place, price, and promotion), that the firm employs to operate successfully in the marketing environment.
1.2 Problems with the study.
Recent developments suggest that marketing organisations have achieved success for goods and services by effectively combining elements of the marketing mix, as well as setting market and marketing objectives in a socioeconomic environment.
Though producers and end users (customers) have posed significant impediments to the convergence of these important marketing mix or aspects;
The problem with the study’s subject is that the elements (product, price, promotion, and site) of the marketing mix have all been influenced by the rise of the current socioeconomic environmental marketing technique.
As a result, it has become extremely difficult for Unilever Brothers Nigeria Plc to promote the effectiveness of the marketing mix as part of the overall marketing strategy for any given product.
1.3 Object of the Study
The study’s objective is as follows.
1. To determine the distribution of marketing mix inside the organisation.
2. Identify the various ways used by organisations to apply the marketing mix.
3. Determine how organisations should be consumer-oriented rather than product-oriented.
4. Identify how Unilever Brothers Nigeria Plc’s management can ensure that effective strategies are implemented.
5. To determine how effective control analysis must be implemented for uniliver products.
1.4 RESEARCH QUESTION.
1. What tactics do marketing managers employ to apply the marketing mix and ensure satisfaction?
2. Should organisations focus on consumers rather than products?
3. Should successful marketing text be created before a product is commercialised?
4. Is a smart promotional technique for increasing an organization’s turnover?
5. Do you believe that a product’s reasonable pricing will improve an organization’s market share?
1.5 Scope of the Study
The survey would have been more comprehensive if it had included all marketing-oriented enterprises and customers from all Nigerian households.
However, the researcher’s disposition and many other limitations to the Unilever Brothers Nigeria plc, marker of close up tooth paste, and the researcher will be conducted within the post secondary and high schools in Enugu metropolis for the simple reason that the company’s promotional campaigns are channelled and felt more in the schools.
1.6 Significance of the Study
It is hoped that his study, if completed and supervised, would have several responsibilities to perform. The study will essentially address a large gap that is critical for practitioners, specialists,
and academics in marketing communication and promotion who have been lacking the necessary guiding information for their promotional mix decisions, promotional budgeting, and promotion research investigations.
Furthermore, the objectives of this study will examine the relative efficacy of sales as well as communication in general. This study will be extremely beneficial to government agents,
as well as a source of relevant information for government agents on communication techniques to be employed in raising public awareness of government programmes and activities.
Politicians and charitable organisations will use this study to help them decide which methods to utilise to promote themselves and their agendas, manifestos, and achievements.
Aside from such categories, marketing executives in various Nigerian companies struggle to select the correct promotional tools and build promotional budgets and strategies for their businesses.
Most of these managers rely primarily on guesswork or just follow their competitors blindly without considering their promotion objectives, product life cycle, industry position, or target market. This study will provide insights to managers who are experiencing similar issues and act as a valuable reference point.
Finally, research consultants and individuals have been deprived of excellent performance as communication researchers due to insufficient and scant data and inadequate liberations available in this area of study.
It is hoped that his study, once completed, will be an addition to the essential literatures needs in this vital area of marketing and entrepreneurship.
As a result, researchers will use it extensively as a source of secondary data. Given all of the essential answers likely to be generated from this study, it is clear that the need for this study is justified.
1.7 Definition of Terms
The following terms were used in this work:
a. MARKETING MIX: According to Kotler, Philip (Principles of Marketing, 1980), marketing mix is the specific combination of controllable marketing elements that a company uses to achieve its goal in the target market.
b. achievement: The Weoster dictionary defines achievement as “bringing to completion.”
c. ORGANISATIONAL OBJECTIVE: This is a well-defined aim or goal of an organisation.
d. PRACTITIONER: According to the Oxford Advanced Learners Dictionary, a practitioner is someone who frequently engages in a specific activity, particularly one that demands competence.
e. ORGANISATION: According to J.C Okeke (Handbook of Business Organisation), organisation is described as a description of group activities or a significant part of management factors that are designed. The application of production factors to an institution itself.
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