ROLES OF MARKETING MIX IN BUSINESS ORGANIZATION [A CASE STUDY OF LUBCON NIGERIA LIMITED, ILORIN, KWARA STATE]
ABSTRACT
CHAPTER 1
1.0 GENERAL INTRODUCTION
Several explanatory notes have been proposed for the term Marketing. Each tends to emphasized different issues concerning marketing as well as drawing a valid conclusion.
Many definitions of marketing have been put forth over the years. A popular one holds that “Marketing is the performance of business activities that direct the flow of goods and service from producer to consumer or end userâ€
The American Marketing Association (1995) offers managerial definition of marketing: Marketing is the process of planning and executing the conception pricing, promotion and distribution of ideas, goods and service to create exchange that satisfy individual and organizational goals.
Philip Kotler (Custom Edition 2005), says marketing is the methodology of communicating the value of products and services to customers for the purpose of selling the products and service. This involves some techniques such as choosing the target marketing through market analysis and segmentation, understanding consumer behaviour and advertising the product value to the customers.
In marketing, marketers use numerous tools to elicit the desired responses from their target market. These tools constitute Marketing Mix (McCarthy, 1999); Marketing Mix is the set of marketing tools that business organization use to pursue their Marketing objective in the target market. These include: Product, Price and Promotion; popularly known as four Ps
In a general sense, this research project bring to light how Marketing Mix allow business organization to build and sell value to their ultimate customers and also getting better return on their investment.
1.1 BACKGROUND OF THE STUDY
A business organization is an entity formed for the purpose of carrying out commercial activities. It can also be analysed as an individual or group of people that collaborate to achieve certain commercial goals and this can be achieved by a well-structured marketing system.
Marketing (Kotler, 1991) is not the art of clever ways to dispose of what you make or producer. It is an art of creating genuine customers’ value and helping them become better-off. The introductory part of this project discussed marketing as a means of identifying customers’ needs and supply various goods and services to satisfy those needs most effective.
A business organization needs to produce goods and services, make it at a price the consumers find reasonable, supply the good and services at different outlets the consumers can conveniently access and also inform them about the product and services through the media they have access to. All these can be attributed to a set of controllable variables and the controllable variables in this context refer to four “PS†(Product, Price, Place and Promotion) which constitute marketing mix. Each firm or business organization strive to build up such a composition of four ‘p’s which can create highest level of consumer satisfaction and at the same time meet its organization objective and goals i.e. Maximization of sales and profit, Bigger market share, survival in the market amongst others. The impact of these variables on business organization form the basis of this research project putting into consideration the case study: LUBCON NIGERIA LIMITED ILORIN, KWARA STATE.
1.2 STATEMENT OF THE PROBLEM
Effective Marketing Mix constitutes to highest level of consumer satisfaction, maximization of sales and profit, bigger market share and survival of the market amongst others.
In conducting this research, the following outlines are some of the problem encountered:
• Inadequate information as there are lots of neural response and restrictions of information in the questionnaire
• Time factor
• Data collection problem
• Financial instabilities
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]