ABSTRACT
The purpose
of this study is to examine the effect of sales forecast on marketing decision
making using Nigeria
bottling company plc, Benin city Edo state as a case study. To achieve this purpose,
questionnaires were designed and hypothesis were formulated. The questionnaire
were administered on the respondents and data collected on the respondents and
data collected were analyzed using percentage to determine the frequency
distributed. The hypothesis were analyzed using chi-square statistical data
analysis to test the hypothesis. The result of the analysis revealed that a
satisfactory package of sales forecast is important in making marketing decision.
Sales forecast is self assessment tool for a company and the future direction
of the company rests upon accuracy of sales forecasting. Recommendations were
made that, for effective sales forecast, market decision making must not be
treated as an isolated exercise rather it must be integrated in all aspect of
the organization also it is significance to note that, if you are selling more
than one product, you should prepare a separate forecast for each group. The
more focus your sales forecast is the more precise its outcome will be.
TABLE OF
CONTENTS
Title page
Certification -- -- -- -- -- -- -- -- -- i
Dedication -- -- -- -- -- -- -- -- -- ii
Acknowledgement-- -- -- -- -- -- -- -- iii
Table of Contents-- -- -- -- -- -- -- -- iv
Abstract -- -- -- -- -- -- -- -- -- -- v
CHAPTER
ONE: INTRODUCTION
1.1
Background to
the Study-- -- -- -- -- -- 1
1.2
Statement of
the Problem -- -- -- -- -- -- 2
1.3
Research
Questions -- -- -- -- -- -- 2
1.4
Objective of
the Study-- -- -- -- -- -- -- 3
1.5
Statement of
Hypotheses -- -- -- -- -- -- 3
1.6
Scope of the
Study -- -- -- -- -- -- -- 4
1.7
Significance
of the Study -- -- -- -- -- -- 4
1.8
Limitations
of the Study-- -- -- -- -- -- 5
1.9
Operational
Definition of Terms -- -- -- -- -- 6
CHAPTER TWO:
LITERATURE REVIEW
2.1 Sales
Forecast -- -- -- -- -- -- -- -- 8
2.2 Determinant
of Sales Forecast -- -- -- -- -- 11
CHAPTER
THREE: RESEARCH METHOD
3.1
Research design-- -- -- -- -- -- -- -- 24
3.2 Population
of the study-- -- -- -- -- -- -- 24
3.3 Sample/Sampling
Technique-- -- -- -- -- -- 33
3.4
Instrumentations -- -- --
-- -- -- -- -- 25
3.5 Method
of Data Collection --
-- -- -- -- -- 26
3.6 Method
of Data Analysis-- -- -- -- -- -- 27
CHAPTER
FOUR: DATA PRESENTATION, ANALYSIS AND DISCUSSION
4.1 Data
Presentation -- -- -- -- -- -- -- 28
4.2 Test
of Hypotheses -- -- -- -- -- -- -- 44
4.3 Discussion
of the Findings -- -- -- -- -- 52
CHAPTER
FIVE: SUMMARY CONCLUSION AND RECOMMENDATIONS
5.1 Summary
-- -- -- -- -- -- -- -- -- 54
5.3 Conclusion -- -- -- -- -- -- -- -- 55
5.4 Recommendations-- -- -- -- -- -- -- 55
5.5 Suggestions
for further research-- -- -- -- -- 57
References
Appendixes
CHAPTER
ONE
INTRODUCTION
1.1
Background to the Study
The heart of management in all level of
responsibilities is the fundamental requirement of being able to communicate
sales forecast have an effect in the dissemination of business information to
the target market and general public. The task of business management would be
simpler if industry was not continual state of change. This change is reflected
in increasing competition precipitated to a large extent by the growth of
global competition which has increased over the last decade.
Accurate forecasting or prediction of an
event in a business environment in which and organizations exist is important
in the design of productive sales force, structure and control over cost and
profit.
This makes it difficult for an
organization to forecast or predict their future prospect in terms of sales,
cost and profit. Forecasting itself is a realistic estimate so as to currently
anticipate what a buyer is likely to do under a given set of condition.
Forecasting helps management to anticipate
the future and reduce uncertainty which limit their ability to plan
effectively. Successful forecasting requires a skillful blending of art and
science including experience, judgment and technical expertise.
1.2
Statement Of Problem
Most manufacturing companies perform
poorly in terms of sales forecast. This is why several criticisms have been
leveled against them. Huge sum of money is been expended on sales forecasting
through marketing managers which draws the company’s finance. In spite of the
benefits from sales forecasting in an organization, there is also the view that
it is expensive consuming huge amount of money.
1.3
Research Questions
This research work is intended to ask
the following questions:
(i) Does forecasting have any impact in marketing
decision making?
(ii) Does
forecasting method of sales help in marketing decision marking of an organization?
(iii) Does
sales department witness a decline in sales a result of increase in price?
1.4
Objectives Of The Study
It is said that an undertaking without a
purpose is an attempt to pave way for unproductive ventures. It is in this
regard that the researcher has endeavoured to design, the purpose that has
strictly adhered to are:
i.
To investigate the effect of sales on
marketing decision making.
ii.
To determine if the forecasting method
adopted is used consisting by the company.
iii.
To be aware if the sales manager should be
familiar with the method of forecasting in marketing decision making.
iv.
To know if sales forecast is relevant to
marketing decision making.
1.5
Statement of the Hypotheses
The following hypothesis will be
tested in the study:
1. Sales
forecast does not have any impact on marketing decision making.
2. Sales
department does not witness decline in sales when company increases price.
3. The
sales manager should not be familiar with sales forecasting.
1.6 Scope of the Study
The scope of this study focus mainly on
the activities of sales department using the Nigeria Bottling Company located
in Benin City as a case study, in marketing decision making. The study will
look at the effects of sales forecast in marketing decision making and the
problems associated with the administration of sales forecast in the company.
1.7 Significance of the Study
It is appropriate to say that this
research work will be of great benefit to many people.
This research will benefit the producers with regard to the
best forecasting techniques used in promoting their product of the target
market.
Also, it will help management to know the
importance of sales forecast in decision to the successful achievement of the
company’s objectives with reference to their products. Finally, it brings about the experience of the consumers.
1.8 Limitations of the Study
Limitations encountered during the course
of carrying out this study cannot be overemphasized. One of the problems was
the problem faced with the respondents, some were not serious in answering the
questions why some did not really give meaningful contributions toward this
study for fear of given confidential information which could be used against
them in the future.
Some of the questionnaires distributed to
respondents were not returned because of their nonchalant attitude towards the
study.
Another problem was inadequate time; it
was not an easy task to continue this project research work with classroom work
because the duration of the semester was very short.
Finally, the other important factor that
limits this study is the problem of case study. In carrying out this research
work, I discover that the perception of the employees toward sales forecast in
their organization in relation to what is obtained in other organization are
different. Because of this, the research work is strictly based on the Nigeria
Bottling Company Plc, Benin City Edo State as a study.
1.9 Operational Definition of Terms
The following terms defined in this
study is to aid understanding:
Forecasting:
According to Katler and Keller (2006), marketing management forecasting is the
act of anticipating what buyers are likely to do under a giving set of
condition.
Sales
Forecasting: According to Anyanwu (2000), marketing
management sales forecasting is the act of predicting sales under a given set
of conditions within a specified time period of one or more years.
Company
Sales Forecast: According to Kotler (2006), marketing
management company sales forecast is the expected level of company’s sales
based on a chosen marketing plan and the assumed marketing environment.
Marketing: According
to Mazur (2001), marketing is the delivery of a standard of living to society;
This definition is an attempt to counter the criticisms of marketing especially
by those who see it as an agent of corruption in the society.
Performance:
This is the effort expended by the workers in the attainment of the desired
objectives of the organization.
Organization:
An organization is the co-ordination of the activities of a number of people
for the achievement of the common goal through division of labour function and
also through the hierarchy authority.
Management:
This is a process of planning, organizing, directing and controlling activities
to meet the objectives and goal of the organization.
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