IMPACT OF PROMOTIONAL MIX ON SALES PERFORMANCE
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IMPACT OF PROMOTIONAL MIX ON SALES PERFORMANCE
ABSTRACT
The study of the Impact of Promotional Mix on Sales Performance attempted to analyse the sales performance of Gulder, a product of Nigeria Breweries Plc, as well as the promotional and marketing methods utilised by the organisation.
The study’s approach and design used a basic random sampling strategy to acquire data from the case study. The entire questionnaire administration been completed and returned. The data collection method included the use of both research and survey methods.
The data were examined using simple percentages and frequency tables. The following steps were taken during the study. A research study that created and tested hypotheses on the effect of a company’s promotion strategy on its sales success.
Because the study focused solely on the consumer, additional research was required to determine the consumer’s knowledge needs, attitudes, and general purchasing behaviour. This study, however, is limited to Lagos.CHAPTERONE
INTRODUCTION
1.1 Background for the Study
Marketing is a component of human endeavour (Baker 1995). According to Brech (1953), marketing is the process of determining client demand for a product or service, driving sales, and distributing it for eventual consumption at a profit.
Marketing is more than just selling; it is a specialised activity that encompasses the entire firm. It is the entire business viewed through the lens of its ultimate goal – the consumer.
Following the rise of the industrial revolution, machines were brought into the production system, resulting in increased production of goods and services available for sale.
Consumers were exposed to a wide range of items, necessitating the selection of products that will provide them with the most satisfaction for their limited finances.
Companies, on the other hand, were interested in improving their image, maximising earnings, increasing sales, and getting a competitive advantage over similar businesses in the same industry. The purpose of this study is to examine how promotional activities effect the sales of Gulder beer, a product of Nigeria Breweries Ltd.
However, for a company like Nigerian Breweries Plc to outperform its competitors, it must employ specific marketing strategies to attract consumer attention and interest, such as the recently concluded GULDER ULTIMATE SEARCH five and the introduction of Gulder max with prices abounding under the crown corks.
The strategies evolve from the marketing mix, which is the company’s product, pricing, and promotion resulting in a good purchase choice from the consumer while also improving public perception and location of distribution (4pcs).
This means that marketing management should decide which features to include in the product for consumers, the most reasonable and acceptable pricing, how to promote the product, and how to distribute the product for maximum sales and profit.
1.2 Statement of Problem or Hypothesis
The current economic condition in the country ‘Nigeria’ as a result of the global economic depression and her poorly constructed policies has created a new outlook for businesses seeking to maximise return on investment.
The initiative aims to analyse the following difficulties, which include:
a) The ineffectiveness of some approaches, such as newspaper advertisements, which are often obscured and have little influence on some customers, particularly illiterates and those who cannot afford them due to their high cost.
b) The issue of not sponsoring television programmers as a promotional tactic for obtaining good customer purchasing decisions while also improving the organization’s image and public perception.
c) The problem of not advertising the product in local languages, which impedes the attainment of sales targets.
Attempting to tackle these challenges, the following hypothesis is developed for examination and study.
1.3 Goals and objectives of the study
a) Determine the consumer demand for the brand advertising situation.
b) Ensure that the study benefits the organisation by directing future management decisions about the brand’s promotional activities.
b) Determine the impact of promotion on the expansion of the market shave for the company regarding ‘Gulder’
d) Determine the company’s capacity to maintain the same level of revenue in a non-advertising circumstance.
1.4 Hypothesis of the Study
For the purpose of this study, three hypothesis were formulated, which are as follows:
Hypothesis I:
Ho – promotion does not assist Nigerian Breweries plc in informing, convincing, and raising awareness among tea customers to make purchases.
Hypothesis II:
Ho – sponsorship of programmes does not help Gulder expand its market share.
Hypothesis III:
Ho – Gulder’s promotional initiatives do not help Nigerian Breweries plc achieve a high turnover.
1.5 Scope and Limitation of Study
The study will look into the impact of promotion on the sales performance of the brand under consideration.
This study focuses on Gulder Beer drinkers in the Lagos area, one of Gulder Beer’s biggest markets. The decision to focus on Lagos markets was made in account of some logistical restrictions in the gathering,
which are being hampered by financing. Nonetheless, the findings and recommendations are expected to benefit the company, consumers, and other stakeholders.
1.6 Definition of Terms for Advertising:
Advertising:
Is a type of mass media communication about products, services, ideas, or opinions paid for by a specific sponsor and addressed at a certain audience (APCON, Advertising Practitioner Council of Nigeria).
Advertising Agency
These are a collection of creative and business experts who specialise in the development, preparation, and placement of advertisements in media for customers looking to raise awareness of their products and services.
Advertisement
It refers to any type of messaging used by an organisation to sell their goods to consumers.
Attitude
An ongoing organisation of motivational, emotional, perceptual, and cognitive processes related to a specific part of the individual’s reality.
Brand
A brand, according to the American Marketing Association, is a name, word, symbol, or device, or a combination of these, that is intended to identify the good or service of a seller or group of sellers and differentiate them from competitors.
Consumers
These are end consumers; they are the ones who purchase the goods for personal, family, or home usage, particularly for practical reasons.
Market
A zone or arena where any commodity can be traded. In its most basic form, it is the collection of existing or potential buyers from outside the company, and it is the primary source of the company’s revenue.
Marketing
According to the Chartered Institute of Marketing, marketing management is the process of identifying, anticipating, and supplying client needs in an effective and profitable manner.
Phillip Kotler defines marketing as a human activity aimed at meeting needs and desires through trade processes.
Marketing Segmentation
Is the practice of breaking a market into separate customer segments, each of which can be deemed a target market with similar demands and can be pursued with a unique marketing mix, activity, or programme.
Micro Marketing
The conduct of operations that aim to achieve an organization’s goals by anticipating customer or client needs.
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