THE IMPACT OF SEGMENTATION ON CUSTOMER STATISTACTION
(A CASE STUDY OF NBC PLC IN ENUGU METROPOLIS)
Basically, NBC moffers different product to customers which in one way or the other leads to the satisfaction of the desires of the customers.
Some objectives of this study are;
· To find out the role of segmentation in the marketing of NBC Plc products.
· To find out if market segmentation of NBC Plc leads to increase customers patronage.
Based on the above objectives, the researchers used primary and secondary data. Secondary data are collected from already done work like textbooks, dictionary, magazine etc. the sample size for the consumer was derives using borhey’s formular while census was used for relevant staff and wanyement.
The data collected when analyzed using tables, frequencies and percentages. The analyzed data gave the following finding that market segmentation practice of NBC Plc leads to increased patronage of their products.
Market segmentation practice of NBC Plc leads to increase in profit of the organization.
The researchers came up with the following recommendations.
· NBC should stick to segmentation of their products because it increase their profit.
· NBC PLc is advised to practice marketing segmentation because it reduces cost of operations.
The researcher concludes that market segmentation not only help in serving the customers better but also increase the profit of the organization.
1.1 Background of the study
1.2 Statement of the problem
1.3 Objectives of the study
1.4 Formulation of hypotheses
1.5 Significance of the study
1.6 Scope of the study
1.7 Limitation of the study
1.8 Definition of terms
2.1 An overviews of segmentation
2.2 Objectives of market segmentation
2.3 Segmentation criteria
2.4 Conditions for effective market segmentation
2.5 Evaluation of market segmentation
2.6 Impact of segmentation on customers satisfaction
2.7 Segmentation in NBC plc
3.0 Research methodology
3.1 Sources of data
3.2 Research instruments used
3.3 Population of the study
3.4 Sampling techniques
3.5 Determination of sample size
3.6 Method of questionnaire administration or distribution
3.7 Limitation of the study
4.0 Presentation, analysis and interpretation of data
4.1 Presentation and analysis of data
4.2 Test of hypotheses
5.0 Summary of findings, recommendations and conclusion
5.1 Summary of findings
1.1 BACKGROUND OF THE STUDY
In this modern and dynamic world, marketers look at the overall market as a body consisting of many smaller parts whose elements have some common characteristics.
They are mostly district from the entire market. For marketers entering a market, the total market must be divided into segment or division being similar character of wants and need or behaviours. This therefore, results to designing its own program, which will be developed for its best satisfaction.
Adirika, Ebuen Nnohu (1997:40) noted that most marketers are two large for an organization market.
According to Edoga and Ani (200:18) market segmentation is defined as the process of dividing the total market into several relatively homogenous groups with similar product interest. This process according to them requires marketers to identify factors that effect purchasing decision so that consumer can be grouped accordingly.
Adirika, Ebue and Nnohm (1997:30) sees marketing segmentation as the subdividing of a heterogeneous market into homogenous subset, groups of customers so that each subset can conceivably be selected as a separate market target to be reach with a district marketing mix. They further noted that in practicing segmentation and consequently target marketing, organization endeavour to serve target markets that they are able to satisfy efficiently and effectively, and not just any group of buyers that seems to represent a sizeable market.
These includes the marketing of drinks.
Adirika (1992,2.9) believes that the battles for the heart, mind and pocket book of the customers will be won by a block by block store by purchase, by purchases bases. This strategy is based on the premise that customers have different test which change over time and that these customers and variety (customization) every organization including Brewery industrial must make decision on two areas of needs:
· What needs to serve and
· Whose needs to serve.
Udeagha (199 – 86) believes that market segmentation is disaggregate in its several demand schedules where only one was recognized before market segmentation, this is a device which is used in assisting management to divide a given total market demand into sets that are relatively homogenous and have certain specified market segmentation is customer oriented, and hence, it is consistent concept. In segmenting, we first identify the needs and wants of customer (consumers) within a sub-market and then decide if it is practical to develop a marketing mix to satisfy those wants.
Nigerian Breweries is one of the heading companies is soft drink industry, the company has assorted soft drinks in the market to serve different needs of their customers.
Although the company have been doing well but there is a lot to be done in terms of satisfying all the segments of the market.
Management can do a better marketing job and make more efficient use of its resources by tailoring marketing programmes to individuals market segments.
In view of proliferation of soft drink industry is Nigeria today and the ever changing needs of consumers theme is need for Brewery industry including NBC Plc to study and implement market segmentation for increased customers satisfaction.
1.2 STATEMENT OF THE PROBLEM
The Nigeria Bottling company Plc is a leader in soft drink market in Nigeria. The company has several brands of soft drink which are being market to their customers. In order to satisfy their customers, they have resorted to segmentation.
Segmentation has been the main important marketing tool used by organizations including the soft drinks industry to achieve their marketing objectives. NBC Plc is not an exception.
However it has been discovered by customers that NBC do not effectively solve segments of the market this could be attributed to lack of efficient segmentation of the market.
Most often customers who go to market to get NBC product find that they are readily available. This one’s that are available is not within the reach of the customers. Some segments of the markets would meal sugar free soft drinks but this is not available. All these no doubt have effective the patronage of customers and company’s profit. In this study the researcher work at segmentation as a two for NBC customers satisfaction.
1.3 OBJECTIVES OF THE STUDY
In order to solve the problems identified above. The following objectives were formulated.
To find out the role of segmentation in the marketing of NBC products.
To determine the impact of market segmentation on increase profit of NBC Plc.
To find out if market segmentation of NBC leads to increase customer patronage.
To determine if customer are satisfied with the market segment strategies of NBC Plc.
To find out the advantages of market segmentation of NBC products.
1.4 FORMULATION OF HYPOTHESIS
Hypothesis is a tentative statement about the universe which may or may not be truth. For the purpose of this work, the following hypothesis will be tested.
Ho: Market segmentation of NBC Plc does not lead to increased customer patronage
Hi: Market segmentation of NBC Plc lead to increased customer patronage.
Ho: Market segmentation of NBC Plc does not lead to increased profit of the organization.
Ho: Market segmentation of NBC Plc lead to increased profit of the organization.
Ho: Market segmentation of NBC Plc does not lead to efficient use of limited resources of the Banks.
Ho: Market segmentation of NBC Plc lead to efficient use of limited resources of the Banks.
Ho: Customer are not satisfied with market segmentation been practiced by NBC Plc.
Hi: Customer are satisfied with market segmentation been practiced by NBC Plc.
1.5 SIGNIFICANCE OF THE STUDY
As the marketing environment is ever changing, a market continues to strive for perfection (Novelty) marketing which is a human / idea oriented discipline cannot do with out idea generation. Implicitly as more ideas and products come into being so as the problem of entering the target market and satisfying consumers effectively and efficiently.
This study on market segmentation on customer satisfaction will benefit the following.
The ease organization – the study will enable NBC known how to satisfy their customers very well.
It will help other related companies on how segmentation will help them improve on their offerings.
The study, will be equally beneficial to readers and researchers as the findings will wider their knowledge in research writing and equally serve as a source of literature review.
1.6 SCOPE OF THE STUDY
The Nigeria bottling company Plc (NBC) can be qualified as a big wail operating in small pond. This research works covers the company operations within Enugu metropolis.
1.7 DEFINITION OF TERMS
Certain words have been used in this write – up and they need to be defined as they are related to the research topic:
SEGMENTATION: This is the process of sub – dividing a heterogeneous market into homogenous subset or group of customers so that each group can conceivably be selected as a separate market target to be reached with a district marketing mix.
MARKETING SEGMENT: This is a unique group, which has all its segmentation variables and characteristic.
SAVINGS SEGMENT: This group falls under the lower group, they are the lower income earners.
STRATEGIC MARKETING: Is described as STP marketing namely – segment target marketing and positioning.
PRODUCT POSITIONNING: It is the act of establishing a variable completive positioning of the firm and its offer in each target market.
RIFFLE APPROACH: This is an act of focusing all marketing efforts on the buyer why they have the greater change of satisfying.
SEGMENTATION VARIABLES: This include: Geographic, Behavioural, Demographic and Psychographics to consumer market. While to industrial market, it include Demographic, Operating, Purchasing a approaches, situation factors and personal characterize.
TERMS AND CONDITIONS
Using our service is LEGAL and IS NOT prohibited by any university/college policies
You are allowed to use the original model papers you will receive in the following ways:
1. As a source for additional understanding of the subject
2. As a source for ideas for your own research (if properly referenced)
3. For PROPER paraphrasing ( see your university definition of plagiarism and acceptable paraphrase)
4. Direct citing ( if referenced properly)
Thank you so much for your respect to the authors copyright.
For more project materials
Log on to www.grossarchive.com