ABSTRACT
As key components of livestock products, feedstuff products have long been a pathway for income generation for the poor. Rapidly growing and changing markets in the developing world provide not only real opportunities but also significant threats to participation of the poor in production and marketing of livestock and poultry products. Enough thought have not been given to the components that facilitate the growth of livestock and poultry products. This work takes a look at the various feedstuffs that is used to enhance growth and wellbeing of livestock. The determinants that affect sales volume of feed stuff dealers was the major worry of this work. The study discussed the role of animal feeds in the global food industry and how it enabling economic production of animal proteins throughout the world. Feed stuff was discovered to be the largest and most important component to ensuring safe, abundant and affordable animal proteins. Objectively the researcher specifically describe the price of livestock feed stuff and features of the dealers in the market, estimate the determinants of sales volume among the dealers, analyze factors that affect sales volume and profit among livestock feedstuff dealers and ascertained the relationship between sales volume and profit performance in livestock feed stuff market. The study area was Abia state as a purposefully sample techniques was used which have 50 respondents. The data collection was both primary and secondary as descriptive statistics such as frequency, tables and percentage were used as part of the analytical tools. Other tools employed by the researcher were econometric model, regression analysis, spearman correlation and income statement. It was discovered that determinants of sales volume of the dealers in the study area were price, transportation cost, competition, product quality and experience. While price, transportation, competition were inverse related with sales volume product quality and experience were positively related to sales volume. Sales volume and number of customers were the factors that affect profit performance among the dealers of feedstuff in the study area. There is a strong relationship between sales volume and profit of the dealers as the business proved to be profitable because its income is more than its cost. It was recommended that government should encourage the players in the market as that will help to reduce unemployment.
TABLE OF CONTENTS
Title page i
Declaration ii
Certification iii
Dedication iv
Acknowledgement v
Table of contents vi
List of tables viii
Abstract ix
CHAPTER
ONE
INTRODUCTION
1.1 Background to the Study 1
1.2 Statement
of the Problem 3
1.3 Objectives
of the Study 4
1.4 Research Questions 5
1.5 Research Hypothesis 5
1.6 Significant of the Study 6
1.7 Scope of the Study 6
CHAPTER TWO
LITERATURE
REVIEW
2.1 Conceptual View 8
2.1.1 Marketing of Feedstuff in Nigeria 10
2.1.2 The Role of Feed stuff in Nigeria Economy 12
2.1.3 Definition/Feedstuff and Ingredients 14
2.2 Theoretical Framework 15
2.2.1 Breakeven Sales Volume 17
2.2.2 Sales Volume Analysis 18
2.3 Empirical Framework 21
2.3.1 Factors Affecting Feedstuff Marketers in Nigeria 22
CHAPTER
THREE
RESEARCH
METHODOLOGY
3.1 Study Area 23
3.2 Sampling Techniques 24
3.3 Sources of Data 24
3.4 Data Analysis 24
3.5 Model Specification 25
CHAPTER
FOUR
RESULTS
AND DISCUSSIONS
4.1 Describe the price
of livestock and features of the dealers in the market 28
4.2 Analysis
on the determinants of sales volume among dealers 31
4.3 Analyzing factors
that affects sales volume and profit among livestock Feedstuff dealers 33
4.4 Ascertaining the
relationship between sales volume and profit performance of feedstuff dealers
in the study area 36
CHAPTER FIVE
SUMMARY
OF FINDINGS, CONCLUSION AN RECOMMENDATIONS
5.1 Summary of Findings 37
5.2 Conclusion 40
5.3 Recommendations 41
REFERENCES
Appendix
LIST OF
TABLES
Table 4.1: Distribution
and Return of Questionnaires 28
Table
4.2: Distribution
on Age of the Respondents 29
Table
4.3 Marital
Status of Respondents 29
Table
4.4: Distribution on
type of livestock feed stuff sold by the respondents
and
their prices 30
Table
4.5: A multiple
response on factors that facilitate the respondents
sales 31
Table 4.6: Determinants
of sales volume among feed stuff dealers
31
Table 4.7:
Distribution
on the major source of income of the
respondents 33
Table 4.8: Factors
affecting sales volume and profit among livestock
feedstuff
dealers 33
Table 4.9: Distribution on
the problems encountered by feedstuff dealers in
the
study area in a multiple response 34
Table 4.10: Income
Statement of supermarkets in the study area 35
Table
4.11: Spearman
correlation matrix showing the relationship between
sales
volume and profit performance of feedstuff dealers
in
the study area 36
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
Animal feeds play a leading role in the global food
industry, enabling economic production of
animal proteins throughout the world. Feed stuff is the largest and most important component to ensuring safe, abundant
and affordable animal proteins (FAO, 1982).
Leseinde (2004) opined that livestock feed occupies a
place of pride in agricultural
enterprises and that its marketing constraints and determinants if well ascertained can help improve livestock
production. According to Akinwumi and Ikpi
(1999). the supply of key inputs in livestock feeds has continued to becloud the industry especially where some of the
ingredients needed in feed formulation are
sourced abroad. Dukem (2003) showed that animal feeds and nutrition research largely concentrated on biological aspects both on
station and on farm. Experts have
called for adoptions of animal nutrition technologies on the on-farm, but the truth remains that feed technologies development
should be accompanied by efficient feed market system Asamaro (2001).
An efficient feed marketing system is rewarding both for
marketing agency and livestock
producers. So far, very few studies have addressed issues of feed supply and marketing. However, information
concerning livestock feed demand and
supply, feed quality issues, feed marketing, feed prices, price trends and
sales and profit of the feed stuff dealers are scarce.
Livestock feed marketing is a very profitable business,
the demand for animal feeds in
Nigeria is gradually getting high due to the fact that, livestock farmers
cannot do without feeding their animals except they want to go out of business (Anayo 2010). Feed stuff marketing
require being creative, communicating
skill and delivering feed value to 'customers and managing customers relationship in ways that benefit
the marketer and increases the sales of profit. A lot of factors can affect or
determine the sales of livestock feed dealers in the
study area such as material handling, advertising, and delivering feed pattern
to the people who need it.
Since every firm/business exist with the intention of
making profit, a firm must weigh the possibility of
increasing its sales and profits. Livestock feed dealers in Abia State not withstanding may have numerous
challenges in the cause of marketing
their products but there is need to determine how best to market these feed
stuff to the potential customers and what affects the firms sales and it
profit.
1.2 Statement
of the Problem
Despite the contribution of livestock to the economy and
small holders livelihood, the production system is not
adequately market-oriented and livestock feed marketing remains very low due to various constraints
that include poor nutrition and disease
prevalence. These problems are compounded by inefficiencies in the input (feed, genetic material and
veterinary services) and output
(livestock and livestock products), marketing including poor market infrastructure, lack of marketing support services and limited
market information.
The marketing situation in Abia State exhibits a number
of diverging issues. For most
livestock feed dealers, the above stated problems might not be the only problems, as there are other barriers related
to institutional factors, such as lack of access to markets (Mendelsohn 2006). Understanding these
issues require a methodology that will
facilitate the inclusion of all the different situations of types of situations to ensure a well representative sample.
Feed
stuff shortage in quantity and quality has been another critical problem in
Nigeria livestock production system (Samuel, 2005). Egbe opined that the single
largest expense in animal production is feed
cost and it dictates feasibility of livestock
enterprise. Overall, among the dominant factors contributing to the feed shortage
both in terms of quantity and quality is the poor feed marketing system characterized by poor marketing information among
feed stuff dealers/marketers. A lot of
dealers leave the business due to lack of their ability to understand or
determine what affect the drop in the patronage by the customers. This problem
is what necessitated the study of
determining what really affect the sales and profit of livestock feed dealers
in Abia State, Nigeria.
1.3 Objectives of the Study
The main objective of
this study is to analyze the determinants of sales volume and profit among livestock feed stuff dealers in
Abia State, Nigeria.
The
specific objectives are to:
i.
describe the price of
livestock feed stuff and features of the
dealers in the market.
ii.
determine
the level of performance with respect to sales volume, profit and market share
of livestock feedstuff dealers.
iii.
estimate the determinants of sales volume
among the dealers.
iv.
analyze
factors that affect sales volume and profit among livestock feed dealers with respect to price,
advertising, competition and product quality.
v.
ascertain
the relationship between sales volume and profit performance in livestock feed stuff market.
1.4
Research Questions
Having considered the problems and the objectives of the
study, the following questions are to be examined.
i.
what are the prices of
livestock feed stuff market and features of the dealers
in the market?
ii.
what are
the determinants level of performance with respect to sales volume, profit and
market share of livestock feedstuff dealers?
iii.
what are the determinants of
sales volume among the livestock feed dealers?
iv.
what are
the factors that affect the sales volume and profit among feed dealers?
v.
what is
the relationship that
exist between sales
volume and profit performance
among livestock feed dealers in the study area?
1.5 Research
Hypothesis
This study seeks to
prove or disprove the following hypothesis which is stated in null (H0) form.
Ho: There
is no significant relationship between sales volume and profit of livestock feedstuff dealers in Abia State.
1.6 Significant of the Study
This study ascertained the basic determinants of
livestock feed dealers profit and
sales in Abia State, Nigeria. The result of this work shall strengthen the knowledge of the dealers on
the best practices to enhance the performance of the
industry.
Marketing aspect of
feed stuff of livestock has not gotten attention for sometimes now, but with
this research work, an insight on the best marketing practices of livestock
feed stuff will be appreciated as the factors that affect performance will be distinguished.
This study will also enable some students who may need
additional information on marketing strategy of livestock
feed. The importance and significance
of this study cannot be overemphasized as the work will bridge the marketing gap already noticed in livestock
feed industries. Addition to the researcher's
knowledge on the importance of the feed stuff of livestock and to the extent it will add value to livestock and its
economic importance is another appreciable contribution of
this research work.
1.7 Scope of the
Study
The study examined concept of feed stuff livestock
marketing as it affects the sales and profit of the
dealers in Abia State, Nigeria.
Although the research based on livestock feed stuff
determinants of the dealers profit and sales,
the work x-ray the economic importance of livestock feed stuff and its contribution to the growth
of livestock. The work also covered: the history of
livestock feed stuff, the definition of livestock and the marketing strategies
applied by the dealers in the study areas.
This work is strictly
on the livestock feed stuff as it relates to the sales and profit performance of the dealers in the
study area. Therefore, any other agribusiness,
agric economic or marketing component that does not contribute directly or relate the sales and profit of
livestock feed stuff is not within the' scope of
this study
Click “DOWNLOAD NOW” below to get the complete Projects
FOR QUICK HELP CHAT WITH US NOW!
+(234) 0814 780 1594
Login To Comment