THE IMPACT OF MARKETING MIX IN THE ACCOMPLISHMENT OF ORGANIZATIONAL OBJECTIVES
(A STUDY OF INNOSON PLC, EMENE)
This project work was to investigate the impact of marketing mix in the accomplishment of organizatioal objectives.
The main objectives were:
1. To identify the impact of marketing mix in the organization.
2. To identify the different approaches used by organization to implement marketing mix.
3. To identify how the management of Innoson Plc should ensure that good strategies should get in plan.
Based on the objectives of the study. The population of study were drawn from the users of Innoson products in Enugu metropolis. Bourley’s formular was used to determine the sample size. Questionnaires and personal interview were used to elicit data from respondents. Simple tables and percentages were used to analyzed data collected and, the following finding were made;
1. Marketing mix plays a good role in the performance of Innoson plc.
2. Innoson plc Emene choose the appropriate marketing mix from the target market.
The researcher therefore made the following recommendations;
1. The management of Innoson Plc should ensure that good strategies are put in place in presenting their products to the public.
2. People, process and physical evidence which is an other marketing mix in modern economy should be used in achieving the objectives.
TABLE OF CONTENTS
1.1 Background of the Study
1.2 Statement of Problem
1.3 Objectives of Study
1.4 Research Questions
1.5 Scope of Study
1.6 Significance of the Study
1.7 Definition of Terms
2.0 Literature Review
2.1 Historical Overview of Marketing
2.2 School of Thought in Marketing Profession
2.3 The Marketing Mix as a tool of Study
3.1 History Background of Innoson Plc
3.2 Source of Data
3.3 Population of the Study
3.4 Sample Size
3.5 Limitation of the Study
4.1 Summary of Findings
1.1 BACKGROUND TO THE STUDY
This study practically involves the investigation of marketing mix (product, price, promotion, and place) in the accomplishment of organizational objectives. There are numerous definitions of marketing written by various marketing fanatics and practitioners around the globe. As a result, students, lecturers, and marketing practitioners believe so much on whatever tool or monographs they could lay their hands on that relates to marketing.
Marketing administration itself takes a managerial approach to marketing problems. Hence, marketing is an instinct discipline. Practitioners consequently rely on principles; researches, ideas, concept and techniques including a problem solving approach to enable them (practitioners and scholars) handle global challenges. In general, a well-organized marketing economy creates numerous opportunities for viable investment and it gives rise to high level of business activities. But, when marketing activities are overlooked diminishing returns on investment and total failure of business initiative is likely to be encountered.
Looking at marketing from a marketing managers facet, one can envisage that he is concerned with the direction of specific functions and activities which must lead to specific result.
Having conceived this notion or idea, we may say that; Marketing is the performance of business activities that direct the flow of goods and services from producer to consumers in order to satisfy customers and accomplish the firms objectives from this stand point, we can define marketing as; the performance of activities that direct the flow of goods and services from source (producer) to the customer (consumer) or users.
Marketing as a managerial practice rest on the economic functions of, production, distribution and consumption. Based on the discussion so far, we should try to establish a link between marketing and marketing mix.
The marketing mix is a major concept in modern marketing. It is the term used to describe the combination of the four variables which constitutes the core of a company’s marketing system, viz the product, price, the distribution system and promotional activities. The application of these variables determines to a large extent the success in the marketing environment.
A firms marketing mix has been defined as the particular blend of controllable marketing variables that the firm uses to achieve its objectives of the target market:- P. Kotler. It can also be defined as a combination of those controllable internal marketing variables- comprising the four ps (product, place, price and promotion) which the firm uses to operate successfully within the marketing environment.
1.2 STATEMENT OF THE PROBLEM
Recent trends show that marketing organizations have through a good combination of the element of the marketing mix achieved success for goods and services, set market and marketing objectives in socio-economic environment.
Though producers and end users (customers) have posed considerable obstacles in the combination of these key marketing mix or elements;
The problems associated with the subject of the study is that the elements (product, price, promotion, place) of these marketing mix have all been affected by the up-thrust of the prevalent socio-economic environmental practice of marketing. It has therefore become very difficult to champion the effectiveness of the marketing mix in the total marketing plan for any given product Innoson Plc Nigeria Plc.
1.3 OBJECTIVES OF THE STUDY
The objective of the study are as follows.
1. To identify the impart of marketing mix in the organization.
2. To identify the different approaches used by organization to implement marketing mix.
3. To find out how organization should be consumer oriented rather than product oriented.
4. To identify how management of Innoson Brothers Nigeria Plc should ensure that good strategies are employed in their pla.
5. To identify how effective control analysis must be put in place by Innoson plc.
1.4 RESEARCH QUESTIONS
1. What are the approaches used by marketing managers to ensure proper integration of the marketing in their operations?
2. Should organization be consumer oriented rather than product oriented?
3. Should effective marketing text be carried out before a product is commercialized?
4. Is a good promotional strategy increase the rate of in turnover of an organization.
5. Do you think that affordable price of a product will increase market share of an organization.
1.5 SCOPE OF THE STUDY
The study would have covered all marketing oriented companies in Enugu metropolis but due to time and other constraints the study centered on.
1.6 SIGNIFICANCE OF THE STUDY
It is hoped that this study when successfully completed and supervised has a lot of roles to play. The study will basically fill a wide vacuum which is greatly essential to practitioners, experts, and scholars in marketing communication and promotion who have been lacking the needed guiding information for their promotion mix decisions; promotional budgeting as well as research studies on promotion.
Furthermore this study by its objectives will not only assess the relative effectiveness for sales but also in communication generally. By this the study will be essentially useful to the government agents, non- will also serve as a source of resonant information to government agents on the communication tools to be used in communication creating awareness to masses about government programmes and actives. Politicians and charitable organization will also or equally make use of this study in their choice of which tools to employed promoting themselves and their programmes, manifestoes and achievements.
A part from those groups marketing executive in various companies in Nigeria have problem in selecting the right promotion tools and in designing their promotional budgets and strategies for their companies. Most of these managers often rely heavily on the guess work or they simply follow their competitors foolishly without due consideration to their promotion objectives, their product life cycle, position in the industry or the targe market which they are aiming at. This study will provide insights to these managers who are having these problems and serve as a rich reference point.
Finally, research consultants and individuals have been deprived of excellent performance in communication researcher because of insuffienct and scanty data and inadequate liberations available in this area of study it is hoped that this study when successfully completed will be an addition to the essential material needs in this vital area of marketing and entrepreneurship. Researchers will therefore use it extensively as a sources of their secondary data, based on all these.
1.7 DEFINITIONS OF TERMS
Below are terms used in this work;
a. Marketing Mix: According to Kotler, Philip (principles of marketing, 1980) marketing mix can be defined as the particular blend of controllable marketing variables that the firm employs to achieve its objective in the target market.
b. Accomplishment: Weoster dictionary defines accomplishment as bringing to completion.
c. Organisational Objective: This is a carefully defined aim or goals of an organization.
d. Practitioner: According to oxford advanced learners dictionary, a practitioner is a person who regularly does a particular activity, especially one that requires skill.
e. Organization: According to J.C Okeke (hand book on business organization) organization is defined as a description of group activities, or an important aspect of management factors which designs. The utilization of production factors in an institution itself.
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