ANALYSIS OF MARKETING RESEARCH, PLANNING AND CONTROL FOR COMPANY GROWTH IN A COMPETITIVE ECONOMY

ABSTRACT

Analysis of Marketing Research, Planning and Control for Company Growth in a Competitive Economy.  In this research process a probability sampling plan was adopted to get the sample size of 250 respondents from a population of 700 questionnaire were designed to collect primary data for the study which were analyzed with simple percentages and analysis presented in tables.  Correlation model was adopted to test the hypothesis, states among which was that; Marketing research does not enhance competitive growth in the beer industry.   This null hypothesis was rejected and implied alternative accepted at 5% significant level.  Therefore, the researcher concluded that marketing planning and control enhance organizational growth in the beer industries.  Thus, the research recommends that marketing planning, analysis and control, especially strategic planning should be adopted in the beer industry.

TABLE OF CONTENTS

Title page - - - - - - - - - i

Declaration - - - - - - - - - ii

Certification - - - - - - - - iii

Dedication - - - - - - - - - iv

Acknowledgements - - - - - - - v

Table of Contents - - - - - - - - vi

List of Tables - - - - - - - - ix

Abstract - - - - - - - - - x

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study - - - - - - - 1

1.2 Statement of the Problem - - - - - - 3

1.3 Objectives of the Study - - - - - - 5

1.4 Research Questions - - - - - - 5

1.5 Research Hypotheses - - - - - - 6

1.6 Significance of the study - - - - - - 7

1.7 Limitation of the Study - - - - - - 7

CHAPTER TWO

REVIEW OF RELATED LITERATURES

2.1 Overview of Marketing Research - - - - 8

2.2 Marketing Information System (MIS) - - - - 10

2.3 Relationship between Marketing Research and Marketing

Information System (MIS) - - - - - 18

2.4 Scope of Marketing Research - - - - - 19

2.5 When to Conduct Marketing Research - - - 20

2.6 Types of Marketing Research - - - - - 21

2.7 The Marketing Research Process - - - - 25

2.7.1 The Marketing Research Process - - - - 28

2.8 Application of Marketing Research - - - - 28

2.8.1 The Problems of Marketing Research in Nigeria - - 30

2.9 The Meaning of Product Planning and Development - 32

2.10 Stages of product Planning and Development - - 33

2.11  The Roles of Marketing Research in Product Planning and

Development - - - - - - - 36

2.12 Marketing Research and Product Life Cycle - - - 37

CHAPTER THREE

RESEARCH METHODOLOGY

3.1 Research Design - - - - - - -       39

3.2 Study Area - - - - - - - - 39

3.4 Sample Size - - - - - - - 40

3.5 Sources of Data - - - - - - - 41

3.5.1 Primary Sources of Data - - - - - - 42

3.5.2 Secondary Sources of Data - - - - - 42

3.6    Research Instrument - - - - - - 42

3.6.1 Method of Validating the Instrument - - - - 42

3.7 Data Analysis Techniques - - - - - 43

3.8 Pearson’s Product Moment Correlation (PPMC) - 44

3.8.2 Simple Regression Analysis - - - - - 45
CHAPTER FOUR

 DATA PRESENTATION AND ANALYSIS

4.1 Questionnaire Distribution -- - - - - 46

4.2 Data Presentation and Analysis - - - - - 47

4.3 Hypothesis Testing - - - - - - 55

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATION

5.1 Summary - - - - - - - - 59

5.2 Conclusion - - - - - - - 59

5.2 Recommendations - - - - - - - 60

Bibliography - - - - - - - - 63

Glossary

Questionnaire

TABLE OF CONTENTS

Table 4.1: Allocation of the Questionnaires and Returns 46

Question 1: What is your Sex? - - - - - 47

Question 2: What is your Age? - - - - - 47

Question 3:  What is your year of Service 2 - - - 48

Question 4: What is your present Position in the Company? 48

Question 5: What are the methods of research and planning open to

your company? - - - - - 49

Question 6: Can effective, marketing research planning and control

account for the success of the organization to achieve

productivity? - - - - - 49

Question 7: How has the implementation of your company’s

policies come to influence production - - 50

Question 8: How do you motivate your employee to give their best?  51

Question 9: Can a defect in a research and planning process result

to it’s failure? - - - - - 51

Question 10: When a marketing research document and plan has

effective control and implementation can it enhance

productivity? - - - - - 52

Question 11: What are the bases of your marketing research and

planning policy? - - - - - - 53

Question 12: Does effective marketing research, planning and   

control facilitate company’s profitability? - - 54

Question 13: Is the company marketing research, planning and

control process affected by environmental factors? - 54

Question 14: Is your company marketing research, planning,

control and productivity affected by the present

economic condition? - - - - 55

CHAPTER ONE

INTRODUCTION

1.1  Background of the Study

In today’s marketing environment, it will be hard to talk about effective  or successful marketing activities without effective and efficient marketing research.

Thus, the importance for analysis of marketing research to any organization (both profit and non – profit, large or small cannot be overemphasized marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideals, goods and services to create exchanging exchange that satisfy individual and organizational objectives. This means that any business organization should try and obtain information on consumer needs and gather marketing intelligence to help satisfy these needs efficiently. Marketing research is a critical parts of marketing intelligence systems, it helps to improve management decision marketing by providing relevant, accurate, and timely information. Every decision poses unique needs for information, and relevant strategies can be developed based on the information gathered through marketing research. Before the growth of a large scale industrialization and mass production techniques local craftsmen and small manufacturers were closely in touch with their customers and knew their needs personally. Products could be supplied which meet individuals preferences and demand could be reasonably forecast. This intimate knowledge of the market needs declined with the development of large producers who look far beyond their local markets for customers to buy their products. Inevitably, the gap between producer and final consumers or users indeed, causing some firms to loose touch with actual needs of those who eventually use the types of product which they made. But, with the reemergence of buyer’s market then customers were able again, to exercise personal preference in the selection of product, it became evident that producers would have to study their markets and make sure that their products satisfied specific needs of their customers.

Marketing research function is providing information that will help detect problems and opportunities, and then if necessary, learning enough to make decisions as to what marketing program would result in the greatest response. Understating the customers - who they are, how they behave, why they behave as they do, and how they are likely to respond in the future is at the heart of marketing research.  

Summarily, the essence of marketing research is that a firm/company will make what they can sell, rather than sell what they can make. Marketing research supports a company’s overall market orientation. Research links marketers to markets through information and scientific study. It is used to explore opportunities and problems, monitor performance, refine marketing strategy and improve understanding of marketing efforts and marketing themselves.  As such, research enhances a firm’s closeness with its customers and enables the marketers to anticipate talent unfulfilled needs and wants. Identification of customers needs means some systematic and objective search into markets either those being currently supplied or new market areas for potential interest. This is the analysis of marketing research which is the bedrock of sound marketing strategy, without reliable and accurate data which marketing research provides, management cannot be expected to plan and execute all the many activities necessary for the production and distribution of range of products involving, perhaps, many months or years of expensive development.

1.2  Statement of the Problem

The manufacturing organizations are witnessing a fundamental change in their marketing environment, hence the need for the analysis of marketing research, planning and control for company growth in competitive economy. It is evident that we are in the threshold of rapid and perhaps  changing business environment that creates new opportunities for a well managed innovative organization, it possess serious challenges as well requiring various marketing strategies and research marketing decisions are inevitably made under condition of uncertainly. Uncertainly involves both risk and opportunity. The use of marketing research does not and cannot eliminate either risk or opportunity but its intelligence use can reduce the former while enhancing the later. Therefore, the focus of this study is to establish a relationship between the identified problems below and the company growth through empirical study.

i. A narrow conception, of the research. Many managers see marketing research as a fact finding operation. They  expect the researcher to design a questionnaire, choose a sample, conduct interviews, and  report results, often without a careful definition of the problem or of the decision facing management.

ii. Uneven caliber of researchers. Some managers view marketing research as little more than clerical activity and treat it as such. Less competent marketing researchers are hired, and their weak training and deficient creativity lead to unimpressive results. These disappointing results reinforce managements prejudice against marketing research.

iii. Poor finding of the problem; some marketing research fail due to not setting up the research problem correctly, from a marketing perspective.

iv. Some managers do not have marketing research department and research development personnel.

v. Analyze and find out the causes of variation and wrong timing in planning and control process in organization.

vi. The issue behind unpredicted environmental changes which impose great

threat to marketing planning and control.

1.3  Objectives of the study

The main objective of this study is to examines the analysis of marketing research, planning and control for company growth in a competitive economy. Specifically, this study intends to achieve the following objectives;

i. To examine the extent marketing research helps to creates a product that meets the customers satisfaction.

ii.  To determine whether marketing research helps companies access market potential and market share.

iii. To determine the effect of lack of marketing on manufacturing companies.

iv. To determine whether marketing research can help companies measure the effectiveness of pricing, product distribution and promotion activities.

v. To ascertain the role marketing planning and control play in achieving company profit objective

vi. To determine the effect of marketing planning on the growth and survival of the firm.  

1.4 Research Questions

i. To what extent can marketing research help to create a product that meets customer’s satisfaction.

ii. Does marketing research help companies assess market potential and market share?

iii. What are the effects of lack of marketing research on manufacturing companies?

iv. Does marketing research help companies measure the effectiveness of pricing, product distribution and promotion activities?

v. What are the roles marketing planning play in achieving company profit objective?

vi. What are the effects of marketing planning on the growth and surviving of the firm?

1.5 Research Hypothesis

The following hypothesis stated in null ( Ho) form were postulated to guide the research work.

Ho₁: Marketing research is not a necessary condition for creating products that meet customer satisfaction.

Ho₂: There is no significant relationship between marketing research and company growth and survival.

Ho₃: The analysis of marketing research in product planning and development cannot affect company’s market share.

1.6  Significance of the study

The need for this study cannot be over-emphasized since we are in a dynamic world. The marketing environment is so competitive that manufacturing and non – manufacturing companies cannot do without marketing research in carrying out marketing activities. It is expected that this study will be of immense benefit to paint companies, as it findings will enhance their product and development management strategies.

Consumers will also benefit from this study and its findings implemented. Since, it will help industries to create and develop products that will meet the taste and preference of consumers. It will also benefit the government since, it will help boost the economy by generating revenue through taxes paid by these industries. And also create employment opportunities for people.

Also, the work when completed will serve as a preference material to other scholars in this field of study.

1.7 Limitation of the Study

Bad roads was an aspect the researcher found difficult due to the high rate of bad roads in Enugu state, especially around Udi area.  Secrecy of information and responses is yet another problem areas encountered during this study.

Finance is another limitation due to economic hardship in the country, the researcher found it difficult to get enough money to cover some of the essential costs involved in a study of this nature.

Lastly, time was a limited factor vise-versa with other demands of attending to lecture and preparing for examinations.

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