THE IMPACT OF MARKETING MIX STRATEGY ON THE GROWTH OF A FIRM [A CASE STUDY OF LUBCON NIGERIA LIMITED, ILORIN]
ABSTRACT
CHAPTER 1
1.0 INTRODUCTION
The aims of every organization is to minimize cost and maximize profit. An effective marketing mix strategy plays an important role towards enhancing the objective to be achieve by the organization.
Those days when product was matched with the market gone. The modern marketing concept enhances the importance of consumer’s preference and consumer’s satisfaction. Therefore, the management is concerned with various policies on four elements of the marketing mix (4p) i.e. the product, the price, the promotional activities and the place.
The marketing mix strategy occupies a paramount position in the function of marketing management. It must also be cleared, that management is decision on one of the element has effects on others because they are inter-related and has weight on the performance and growth of any business form.
1.1 STATEMENT OF THE PROBLEM
Today, business world has become a servant of the society by trying to provide adequately the needs and waste of the society yet some business organization find it difficult to make accurate decision on each element of the marketing mix in order to achieve the organization objectives.
Therefore, the researcher has been able to analyze some of the following problems.
i. Uncertainty of which of the several product designs are mostly likely to be accepted in the market?
ii. What price should company charge for its product?
iii. How will profit change under various pricing strategy?
iv. Where and to whom the company product be sold?
v. How much company spend on promotion in terms of each product and geographical segmentation?
vi. Does the benefit justify the cost of a planned marketing mix strategy?
vii. Then how well can this marketing mix strategy consumer?
1.2 OBJECTIVES OF THE STUDY
This project work is embarked to achieve the following objectives
i. Whether the product of lubcon satisfy the consumer in term of quality.
ii. To find out the distribution method used by the company is adequate to ensure the availability of products to consumers at the right time and of the right place.
iii. To determine whether the pricing strategy of the company is in line with what consumers and channel members satisfaction compares with its competitors.
iv. To determine whether a promoted activities of the company have an impact on the sales volume.
v. And finally to detect and resolve likely problem which management encounter in implementation of marketing mix strategy.
1.3 RESEARCH QUESTION
In order to achieve the objectives of the research certain questions have to be posed to enable the researcher attempts a detailed study. Such questions are:
i. How important is the marketing mix strategy to the organization?
ii. Does quality product promote sales?
iii. How does the company maintain its position in a place of competitive market?
iv. What techniques does the company choose as the best to improve their promotional activities?
v. Is profit adequate in relation to capital employed?
vi. What type of distribution does the firm choose to distribute its products?
vii. What type of distribution channels does the firm use to distribute its product?
viii. What pricing strategy does the company use in fixing price for a new product?
Departments
- Accounting Projects [85]
- Accounting And Management Projects [6]
- Accounting Education Projects [1]
- Adult And Primary Education Projects [6]
- Agricultural And Bio-environmental Engineering Technology Projects [8]
- Agricultural Economics And Extension Projects [57]
- Agricultural Engineering Projects [3]
- Agricultural Technology Projects [1]
- Agriculture Projects [104]
- Agriculture Education Projects [3]
- Anatomy Projects [1]
- Architecture Projects [28]
- Banking And Finance Projects [53]
- Basic Medical Sciences Projects [1]
- Biochemistry Projects [25]
- Biological Sciences Projects [46]
- Biology Education Projects [13]
- Botany Projects [3]
- Building Projects [58]
- Business Administration Projects [151]
- Business Studies Projects [76]
- Chemical Engineering Projects [24]
- Chemistry Education Projects [3]
- Civil Engineering Projects [80]
- Community Health Projects [35]
- Computer Education Projects [6]
- Computer Engineering Projects [28]
- Computer Science Projects [138]
- Construction Engineering And Management Projects [1]
- Cooperative Economics Projects [0]
- Cooperative Economics And Management Projects [2]
- Criminology Projects [68]
- Cyber Security Projects [2]
- Data Science Projects [1]
- Economics Projects [107]
- Economics Education Projects [1]
- Education Projects [189]
- Educational Foundation Projects [9]
- Educational Management Projects [44]
- Electrical/electronics Engineering Projects [140]
- English Education Projects [14]
- English Language Projects [6]
- English Language And Literature Projects [18]
- Entrepreneurship Projects [7]
- Environmental Science Projects [79]
- Epidemiology And Community Health Projects [2]
- Estate Management Projects [40]
- Fashion & Design Projects [1]
- Fine Art Projects [1]
- Food And Nutrition Projects [2]
- Food Science And Technology Projects [52]
- Geography Projects [24]
- Geography Education Projects [4]
- Government And Public Administration Projects [1]
- Guidance And Counselling Projects [132]
- Health Education Projects [9]
- Health Information Management Projects [3]
- History And International Studies Projects [3]
- Human Kinetics And Healthy Education Projects [2]
- Human Resources Management Projects [111]
- Industrial Relations And Personnel Management Projects [58]
- Information And Communication Technology Projects [2]
- Institute Of Education Projects [1]
- Insurance And Risk Management Projects [1]
- International Relations Projects [55]
- Islamic Studies Projects [3]
- Law Projects [21]
- Leisure And Tourism Management Projects [2]
- Library And Information Science Projects [85]
- Linguistics Projects [104]
- Marketing Projects [78]
- Mass Communication Projects [188]
- Mathematics Projects [3]
- Mathematics Education Projects [1]
- Mechanical Engineering Projects [86]
- Medical And Health Science Projects [82]
- Medical Laboratory Science Projects [2]
- Medical Radiography Projects [2]
- Medicine And Surgery Projects [2]
- Metallurgical Engineering Projects [2]
- Microbiology Projects [120]
- Minerals And Petroleum Resources Engineering Projects [32]
- Mining Engineering Techology Projects [2]
- Nursing And Nidwiffery Projects [124]
- Office Technology Management Projects [104]
- Parasitology And Entomology Projects [3]
- Petroleum Engineering Projects [3]
- Pharmacy Projects [18]
- Philosophy Projects [111]
- Physics Projects [3]
- Physiology Projects [1]
- Political Science Projects [123]
- Primary Education Projects [5]
- Project Management Projects [1]
- Psychology Projects [61]
- Psychology Education Projects [1]
- Public Administration Projects [123]
- Public Health Projects [100]
- Purchasing And Supply Projects [112]
- Pure And Industrial Chemistry Projects [8]
- Quantity Surveying Projects [59]
- Science Education Projects [4]
- Science Laboratory Technic Projects [108]
- Science Laboratory Technology (stl) Projects [21]
- Secretarial Administration Projects [40]
- Sex Education Projects [2]
- Social Studies Projects [8]
- Sociology Projects [126]
- Statistics Projects [107]
- Surveying And Geoinformatics Projects [4]
- Theology Projects [9]
- Transportation And Management Projects [3]
- Urban & Regional Planning Projects [1]
- Value Engineering Projects [1]
- Vocational Education Projects [1]
- Zoology Projects [1]