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ETERMINANT OF CONSUMER PREFERENCE ON A PARTICULAR PRODUCT: A CASE STUDY OF SMART PHONE USERS IN EGOR LGA

  • Type:Project
  • Chapters:5
  • Pages:90
  • Methodology:Descriptive and Inferential Statistics
  • Reference:YES
  • Format:Microsoft Word
(Business Administration and Management Project Topics & Materials)
ETERMINANT OF CONSUMER PREFERENCE ON A PARTICULAR PRODUCT: A CASE STUDY OF SMART PHONE USERS IN EGOR LGA
Abstract

    The purpose of this study is to examine the determinants of consumer preference on a particular product. The objective of the study is to examine the effect of social factors, price, brand name and product trust on consumer brand preference.
    This study uses qualitative research instrument through the administration of questionnaires to two-hundred and fifty (250) consumers of Techno Smart Phone in Egor Local Government Area of Edo State and adopts descriptive statistics, Cronbach Alpha test, Pearson Moment correlation matrix and robust regression techniques for the data analysis.
    The regressions results show that that regressions results that social factors has a significant positive effect on consumer brand preference at 1% level of significance, price has a significant positive effect on consumer brand preference at 5% level of significance, brand name has an insignificant positive effect on consumer brand preference and product trust has a significant effect on consumer brand preference at 1% level of significance. The study recommends that management should considered social factors in the choice of consumer brand preference.
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
    The rivalry between manufacturers and suppliers has grown with unsuspected rhythms, by new rules in the market which are identified by the means of complex marketing research of potential buyers, manufacturers or competitors, of market fluctuations, and so on (Costea & Saseanu, 2009). Ibidunni (2004) opines that marketing concept can be described as a business philosophy that challenges the concept of products, production, selling and society. Moreover, “marketing concept can be seen as a guide to ensure the satisfaction of consumer needs and wants. It is based on the principle that individuals who do not have a need or desire for the products which the firm is selling will simply not purchase it” (Adegbuyi, Akinbode, Kehinde & Borishade, 2016:2).
    Srivastava, Shervani and Fahey (1998:4), “are of the view that marketing actions in place are packaging, brand name, distribution channel density, advertising, exhibitions, sponsorship and they often aid the development of a long-term assets such as brand equity and customer satisfaction for the firm which can be leveraged to providing a short-term profitability and increased shareholder value”. However, “consumers and customers of a product are known to be rational with regard to their purchases and the willingness to maximize their satisfaction when it comes to consumer goods” (Muhammad, Muhammad, Hafiz, Unzila & Ayesha (2014:56). A consumer is willing not purchase a commodity whose price is above the additional satisfaction that he derives from the good (Sloman & Wride, 2007).
    Customer’s perception of a product influences the buying behaviour concerning the distribution strategy of product offering (Schiffman & Kanuk 2007). Consumer perception built on the appearance of the brand product to be offered for sale, feel of the product, price, and quality and fulfilling the promise in creating the product based on previous experience (Muhammad, Muhammad, Hafiz, Unzila & Ayesha, 2014). Therefore, the marketer, consumer’s perceptions are much more important than their knowledge of objective reality (Adepoju & Oyewole, 2013). Successful products and services are those which meet a specific consumer need and a robust understanding of the needs of target consumers is therefore required to ensure that newly developed products would accurately reflect key consumer requirements (Leonard & Rayport, 1997). Marketing organizations developing new products are expected to exhibit some high level of creativity and innovativeness which is consistent with their customer perception of both their product and company image. Based on the foregoing, this study examines the determinants of consumers' preference on a particular product.
1.2. Statement of the Research Problem
    The complex nature of consumer is influence by personal beliefs, purchase experiences, marketing and communication which enhanced their buying decision and behaviour (Posavac, 2012). The realities of contemporary world show that a functional economy is an economy on which marketing is powerfully centered, as a philosophy that directs organizational activity, no matter its nature, as well as practical action, reflected in significant and spectacular results (Lefters, Bratucu, Balasescu, Chitu, Rauta & Tecau, 2006). Consumers are unique and their needs are diverse. In order to successfully market a product, the marketer must measure the factors that influence consumer preference, emphasize market segmentation through their preferences and emphasize product positioning in order to meet consumers' needs (Muriuki, 2003). Ali (2014) claims that customers are curious about products to satisfy their future desires, the availability of a product brings about customer loyalty when the product is satisfactory.
    The problems of marketing communication are mainly due to non-availability of adequate and reliable market information on the taste, demand pattern and preferences of consumers to the producers and partly due to inadequate infrastructural facilities that should facilitate an efficient marketing channel (Garba, Elijah & Achimugu, 2013). Dodds, Monroe and Grewal (1991) add that consumer purchase intention is a means whereby the customer is probably attempting to buy some product with the given level of information concerning the product. The process of predicting consumer behaviour is of great challenging tasks for any marketing organizations as it keeps on changing under the influences of unknown and uncertain factors; consequently leading to a purchase intention which is difficult to measure under different circumstances.
    In order to fill the above gap, this research works, the study will endeavors to conceptualize, develop and test a model to enhance our understanding of the determinants of consumer’s preference of a particular within the context of the smart phone marketing organizations. This study will also add to existing body of knowledge on the determinants of consumers' preference on a particular product. The study will use structured questionnaire in the measurement of the given variables (consumer’s preference, price, social factor, brand name, and product trust).
1.3 Research Questions
    The following research questions are raised the guide the study under consideration:
(i)    what is the effect of social factor on consumer preference on a particular product?
(ii)    what is the effect of price on consumer preference on a particular product ?
(iii)    what is the effect of brand name on consumer preference on a particular product?
(iv)    what is the effect of product trust on consumer preference on a particular product?
1.4 Objectives of the Study
    The broad objective of this study is to examine the determinants of consumer preference on a particular product. Therefore, the specific objective is to:
(i)    examine the effect of social factor on consumer preference on a particular product
(ii)    examine the effect of price on consumer preference on a particular product
(iii)    examine the effect of brand name on consumer preference on a particular product.
(iv)    examine the effect of product trust on consumer preference on a particular product.
1.5. Hypothesis of the Study
The following hypotheses formulated will be stated in null form:
HO1:     Social factor has no significant effect on consumer preference of a particular product.
HO2:    Price has no significant effect on consumer preference of a particular product.
HO3:    Brand name has no significant effect on consumer preference of a particular product.
HO4:    Product trust has no significant effect on consumer preference of a particular product.
1.6. Significance of the Study
    This study is significant to the following groups:
Manufacturers: This research study will be of great assistance to producers of mobile devices. It will enable them to ascertain the reasons for the consumer's preference of one mobile device to the other, thereby increasing their production techniques, sales and marketing strategies, and gearing their efforts towards the production of smart phones.
Consumers: This study will enable consumers to become more aware and more objective in taking decisions among competitive brands and also appreciate the great technological efforts behind the production of smart phones. This is because the study seeks to identify the benefits a smart phone has over other mobile devices.
Marketing Practitioners: The study will enable marketing practitioners to find the best ways to influence consumer preference of a product with strategic marketing actions and policies.
Researchers and Academia: Smart phones enable researchers all over the world to interact with one another anywhere, anytime. Researchers have access to any kind of information, and research at any point. In the world today, there is a more complete, intricate and accessible web of information than has ever been in existence. The study will also in no small measure serve as a reliable guide on this topic or related topics for further researchers.
1.7 Scope of the Study
    This study focuses on the determinants of consumer’s preference of a particular product. The scope of this study is cut across consumers of mobile phone marketing organizations in Egor Local Government Area of Edo State. The study will employed a survey design by distributing structured questionnaires to consumers of Techno Smart Phone in Egor Local Government Area of Edo State for the period of July –November, 2018 which serves as a means of measuring the variables. Therefore, a convenient and simple random sampling technique will be employed. The justification of convenient sampling techniques is because of the infinite population and also the respondents will be easily accessible within the sample population.
1.7. Limitations of the Study
    In the course of conducting this research work, the research will witness some constraints. They include:
Poor Opinion: The study will be limited to bias in respondent opinion about the subject matter as well as the use of a single study area and the uncertainty about the generalization of finding sequel to the use of a single research design as well as instrument.
Sample Size: The sample size of the study will be affected because of the reluctance of some respondents to complete questionnaires promptly and those who even fail to complete them at all.  This thus limits the number of respondents involved in the study despite the researcher’s efforts and approaches to them explaining the potential benefits of the study.
Statistical Modeling: The study will be also limited by the difficulty of measuring and modeling the variables for the study (consumer preference, social factors, price, brand name, product trust).  

ETERMINANT OF CONSUMER PREFERENCE ON A PARTICULAR PRODUCT: A CASE STUDY OF SMART PHONE USERS IN EGOR LGA

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Details

Type Project
Department Business Administration and Management
Project ID BAM1530
Price ₦3,000 ($9)
Chapters 5 Chapters
No of Pages 90 Pages
Methodology Descriptive and Inferential Statistics
Reference YES
Format Microsoft Word

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    Details

    Type Project
    Department Business Administration and Management
    Project ID BAM1530
    Price ₦3,000 ($9)
    Chapters 5 Chapters
    No of Pages 90 Pages
    Methodology Descriptive and Inferential Statistics
    Reference YES
    Format Microsoft Word

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