AN APPRAISAL OF THE RELEVANCE OF THE MARKETING MIX ELEMENT TO MARKETING FIRMS

AN APPRAISAL OF THE RELEVANCE OF THE MARKETING MIX ELEMENT TO MARKETING FIRMS

(A case study of Nigerian Breweries Plc. Kaduna State)

ABSTRACT

This project work examines the importance of marketing planning in MTN Telecommunication Company Abuja.The main principle of marketing is to have an achievable target market and to complete delivering the right service and product at a reasonable price. More so, a company’s aim is to create a unique brand name and establish a platform where the company can achieve its organizational goals and objectives, satisfying the consumer’s needs and wants. In the 90’s Nigeria experience poor quality service in telecommunication provided by NITEL both in making calls within or outside Nigeria, so all public outcry and the charges in the Country’s government brought about the transformation  in some sectors of the country including telecommunication industry. MTN Nigeria is one of the several companies licensed by the Nigerian Communication Commission (NCC) to operate on the platform of mobile service operators. For more than 10 years, the Nigerian mobile industry has grown from grass to grace. However we cannot overlook the challenges faced by operators like MTN Nigeria. Still the Nigerian market if referred to as the biggest market in Africa and one of the fastest growing markets in the world.   

CHAPTER ONE:INTRODUCTION

1. BACKGROUND OF THE STUDY

We live in a dynamic and changing environment and such one or two person may contemplate going into business. This follows a realization or discovery of an untapped market, which need to be exploited.

This therefore prompt for entry into one form of business or the other to cater for the needs of and wants of this unexploited market potential and hence mobilized all factors and resources that will aid the process of achieving this objectives.

This study will analyze and examine the relevance of the marketing mix element to marketing firms, business organization, and in Nigeria brewery Plc. in particular.

Again, before going into business, intensive research must have to be carried out to know the viability of such business and how they can effectively harness the resources at their disposal to attain the objectives since the marketing mix element plays an important role in the life of every firm there is the need for research to be carried out so that when the business commences, problem that are bound to occur will not disturb its operations.

A firm also needs research so as to determine how the competitors formulate their strategies to survive and push others out.In this regard therefore, investors or entrepreneurs must have to be very conscious of the environment in which they operate.

However, since the concept of every firmis to make profit, the marketing mix element which is the sevenPs i.e product, price, place, promotion, physical evidence, process and people must have to be blended. Individually and collectively to achieve the aim of the organization. Infact if the marketing mix element is not well blended it will go along way to show that firm will not be able to survive in the environment, and in the long turn, the objectives will not be achieved.

This research work will also enable us to understand how vital the marketing mix of a firm is. They are the pivot on which firms activities revolve. This is why any mistake made as a result of modification or rectification of any of the mix might lead to the collapse of the firm.

Also, this research will be analyzing how the mix should critically be looked at, individually and collectively so as not to affect the operation of the firm, which forms the basic bedrock of the marketing organization. It will also analyze the objectives, purposes and limitations of the marketing mix variety in a marketing organization and Nigerian breweries in particular.

1.1STATEMENT OF THE PROBLEM

Marketing mix element plays a very important role in any business firm or business organization, infact, there is no way a firm can function effectively without proper understanding of the marketing mix element.

However, both controllable seriously affect business activities and uncontrollable element in the environment and this include inadequate capital, lack of technological knowledge and infrastructural facilities, infact, these problems have hampered the adaptation of marketing mix the in business organization. The statement of the problem of this research is also based on the following:

1. The organizational efforts aimed at determining the relevance of the marketing mix in a business firms among competing strategies from other departments.
2. The inabilityto find out the extent to which marketingdepartment combines these mixes to achieve the overall mission, goal and objectives of the organization under study.
3. The problem of recognizing the appropriate mix to be used at particular time in the product life cycle.
   1. OBJECTIVES OF THE STUDY

The objective of this study is to highlight the benefit of marketing their products. It is also the intention of the researcher to help find out solutions to the problems encountered in the application of marketing mix element in the Nigerian Breweries Plc. The following are the objective of the study:

1. To understand the role of marketing mix to marketing firms.
2. To formulate ways or strategies on how the firm can make its product available to end users.
3. To investigate the way business organizations responds to marketing mix so as to improve its marketing operations by using the relevant marketing mix element.
4. The importance of marketing mix and its contribution to the development of the firm and business organizations will be discussed.
   1. RESEARCH QUESTIONS
5. What is the role of marketing mix to marketing firms?
6. How do you formulate ways or strategies on how the firm can make its product available to end users?
7. How does marketing organizations respond to marketing mix so as to improve its operations by using the relevant marketing mix element?

d. What is the importance of marketing mix and its contribution to the development of the firm and marketing firms?

     1.4STATEMENT OF THE HYPOTHESIS

The hypothesis below will be designed to serve as a guide for the study.

1. Hi: Effective marketing mix has been responsible for the success of Nigerian Brewery Plc. Kaduna.
2. Ho: Effective marketing mix variable has not been responsible for the success of Nigerian Brewery Plc. Kaduna.

1.5     SIGNIFICANCE OF THE STUDY

The significance of this study is aimed at achieving the efficient e-distribution for consumer goods. This research work will serve as a useful guide to any manufacturing industry in the task of determining the most reliable source of marketing mix element that will meet the profitability of the organization expectation. 

The study will also help us to give answer to the question that marketing mix element is a high factor which add to the price of the product to the final consumer. 

1.6     SCOPE OF THE STUDY

This research work is designed to explaining the marketing mix elements in the economy of Nigeria using Nigerian Breweries Plc. Kaduna as a case study. The research work examined the marketing mix element in an organization and Nigeria as a whole and the application of the element in an organization. It also examined the relevance of marketing mix effectiveness and efficiency in an organization.

1.7      LIMITATIONS OF THE STUDY

Many shortcoming and setbacks have contributed in no small measure to the limited coverage of this research work.

1. Financial constraint was a serious setback while carrying out this research work.

2. Also there were no enough literature books to be consulted for adequate information required even the available ones in the market were sold at exorbitant price.

3. Respondent attitude: Most respondents were uncompromising with the researcher as they believe that the study will not bring benefit to them and most of the respondents tend to find inaccurate statements. This leads to the researcher making conclusion based on personal observation.

4. In addition, the time at my disposal for this project work was very small. Combining the research work with academic activities was very stressful.        

1.8       OPERATIONAL DEFINITION OF TERMS

This includes definition of terms and concepts as vital in this research work.     

1. CONSUMER:They are the actual or potential buyers and users of a given product.

2. PRODUCT: Can be defined as any commodity that has a monetary or commercial value. However, Philip Kotler in his book International Marketing defined product as anything that can satisfy the needs and want of the consumer.

3. PROMOTION: Encompasses all the tools in the marketing mix whose major role is persuasive communication.

4. MARKETING MIX: These are the four key variables which marketers use to influence the market.

5. PRICE: The value of product or services expressed in monetary terms.

6. PLACE: This is concerned with the distribution of goods and services from the point where they are produced to the place where the ultimate buyers will consume them.

7. BUSINESS: This is the sum of activities which individuals engage in the production of and services for distribution.