ABSTRACT
The
primary objective for any profit oriented organization in to maximize profit
and minimize lost among other objective. This in that survival mechanize for
such organization. However, achieving these stated objectives and others given
along with some environment elements which are not within the control and
capacity of the organization. Among these external elements or environment
factoring competition. The nature diversity and dynamic competition in the market determines the strategy and
traffics that will be formulated and adopted in dealing with such environmental
factor. Among several available strategy that could be adopted includes
promotion which its integral part is marketing. This research project will
evaluated the importance and significant role of marketing to manufacturing
firm in a competitive market environment taking DE –UNITED FOOD INDUSTRY as a
case of study. The project concluded that any manufacturing organization that
is profit oriented should adopted marketing concept strategy. This will enable
organization to fully understand the fundamental needs and desire of the target
market there by gaining competitive advantage over other competition. The
project recommends that the primary objective of any manufacturing organization
will and can be fully accomplished if marketing concept is adopted and fully frizzed
in a competitive environment.
TABLE OF
CONTENTS
TITLE PAGE i
CERTIFICATION ii
DEDICATION iii
ACKNOWLEDGEMENT iv
ABSTRACT vii
TABLE OF CONTENT viii
CHAPTER
ONE
BACKGROUND OF THE STUDY
1.1 Introduction 1
1.2
Statement of the Study 4
1.3
Aim and Objective of the Study 6
1.4 Significance of the Study 8
1.5 Scope of the Study 9
1.6 Definition of Term 11
CHAPTER
TWO
2.1 Literature Review 15
2.2 Concept of Marketing 16
2.3 Concept of Competitive Environment 22
2.4 Benefits of Marketing to Manufacturing Firm 26
2.5 The Function of Marketing in Manufacturing
Firms 31
2.6 Types of Marketing Concept 34
CHAPTER THREE
3.1 Research
Design 37
3.2 Population
and Sample Size 38
3.3 Method
of Data Collection 39
3.4 Data
Presentation And Analysis Techniques 42
CHAPTER FOUR
4.1 Brief History of De-United Food Industry
Limited 43
4.2 Data
Presentation 44
4.3 Data Analysis And Hypothesis Techniques 45
4.4 Data Analysis 50
CHAPTER
FIVE
SUMMARY CONCLUSION AND
RECOMMENDATION
5.1 Summary 53
5.2 Conclusion 55
5.3 Recommendation 56
REFERENCES 60
CHAPTER ONE
BACKGROUND OF THE STUDY
1.1 INTRODUCTION
In
the ancient times, there was no marketing because individual tended to be self
sufficient, growing and producing things that they needed to satisfy their
basic need. There was therefore almost no exchange of commodities and hence
no desire for the market place. As time passes, however, the concept of
division of labour our evolved, people began to concentrate on producing the
items which they did not have. This brought about specialization in the
production system. Thus people began to exchange goods with goods, a system
known as trade by barter.
After
this stage, comes the existence of a medium for exchange called money. The
introduction of money in business transaction leads to more advanced and rapid
exchange system. The introduction of money as a suitable medium of exchange
also led to the evolution of modern industries which undertake high production
of commodities, thereby improving the marketing sector of the production
system.
Exchange
involves not merely a transfer of value between the contracting parties but a
positive gain in value arising from the exchange, is greater than it was before
the exchange takes place. The exchange was largely saved on the production of
the basic needs which usually ware cleared to marketing.
With
the growth of time which resulted to industrial revolution, there was evolution
of marketing, producers manufacturing their goods in large quantities in
anticipation of future demands. There and then, marketing become the most
important sector emphasized by all manufacturing firms.
According
to Philip Kotler, in his book, principle of marketing practice, the forth
edition inc.1980 page 15, defined marketing as “A set off principle for
choosing target market measuring their need, developing want satisfying product
and services and delivering them at a value to the company. From the
definition, marketing process is aimed at getting the right goods to the
company. From the definition, marketing process is aimed at the right people in
the right time.
This
means that the activities designed to make commodities available at either tine
or places where they are more in demand at times. In this present age charges,
marketing is the heart beat or beating heart of many business operation. A
manufacture firm which has little or no knowledge of marketing jeopardizing the
probability achieving the primary objective, which is profit maximization
especially in this age where many firms and product are having a strong
competition with each other.
Marketing
therefore is an integral part for manufacturing organization to succeed.
Marketing should be taken into consideration especially with the use of
marketing strategies by a firm facing competition with each other firm.
Finally
marketing is the most vital way of an organization to make profit, without
which an organization cannot achieve its objectives which is maximize profit.
1.2 STATEMENT OF THE STUDY
The
statement of this research study highlights problems and challenges encounter
by the organization in the present of achieving the pre-determine objectives,
which is profit –maximization through increase in demand volume for the product
produced.
During
the course of this project, it was discovered that the sales volume and the
demand ratio for the company’s product drastically reduced from 95% sales
volume 87% sales volume.
Additional,
it was also detected that the customer base ratio also falls within the context
of the selected geographically places where the research study was conducted.
While
the brand image or the goodwill of the company and its recognition and public
acceptance reduce all due to the impact of competition in market.
The
selling concept policy which is adopted by the management of the organization
goes a way in reducing the brand loyalty and recognition from the customer, both
from the actual consumer and other prospective customer of the company’s
product (INDOMIE INSTANT NOODLES). This is due to the fact that consumers are
more aware of their right and freedom in relation to the purchase as goods
produced for consumption and services tendered are concerned.
1.3 AIM AND OBJECTIVE OF THE STUDY
The
aim of this research project is to highlight the roles and importance of
marketing in a competitive environment. Hence, the following objectives are
achieved during the time the research project was conducted in relation to food
industries market, work reference to DE-UNITED INDUSTRY, producer of INDOMIE
INSTANT NOODLES.
The
research project enables the organization concerned to understand the determinant
factors responsible for the decrease or fall in sales volume from 95% sales
ration to 87% sales ration. The decrease in sales volume is as a result of the
inception of various industries producing related product. Introduction of new related product from
competing industries couple with the failure on the part of (DE-UNITED)
Industry to systematically analyze its product performance against standard
drastically reduce the sales volume.
Another
objective of this research project is to expanciate on the significant roles of
marketing concept policy in a competitive environment in relation to the
selling concept policy adopted by the management of DE – UNITED INDUSTRY.
Marketing
concept (Philip Kottler, 1993, 4th Edition) holds to the view that
satisfying consumer needs effectively is a pre-requisition for achieving the
pre-determined objective of my manufacturing organization.
While
selling concept holds to the view that the primary objective of any established
organization is to maximize profit irrespective of consumer frame of mind.
Therefore,
De-United Industry management should adopt marketing concept policy which will
help to create delighted customer through satisfaction of their basic needs,
which will in turn yield optimum profit from increase in sales volume.
Recommend
solution to some of the problems the company might be facing which might also
be useful to other competitive firms.
1.4 SIGNIFICANCE
OF THE STUDY
The
significance of the study to researcher, the government and the company,
De-United Food Industry cannot be over emphasized. The researcher gains more knowledge in the
process of gathering information about this research work. Also, it is a partial fulfillment for the
award of Higher National Diploma (HND) in marketing.
The
government itself controls and owns a cost of industries or business units at
home and abroad. Therefore, an appreciation of the need for this research work
will enlighten the government on international market segmentation and reveal
the domestic and foreign opportunities for the government owned industries.
The
company, De-United Food Industry will gain more information about the market
for its product and can use such information to appraise the national and
significance of market segmentation and target marketing to its business
success.
1.5 SCOPE
OF THE STUDY
The
scope of this research study cover the duration of time used during the
research project, the geographical distance covered as at the time the research
was conducted the financial constraint encountered and the challenges faced in
getting relevance and coherent response from the targeted and selected
audience.
The research project was conducted
within the period of two (2) semester starting from December 2011 to June 2012.
This is due to the availability of limited time which was carefully apportioned
among other academic work besides project work.
The
research study limited its findings to the consumption pattern of varieties of
DE-UNITED FOOD INDUSTRY within Ilorin Metropolis, specifically between ELERO
and SANGO Metropolis.
The financial incapability of the
researcher limited the geographical distance covered during the time the
project was conducted. However, the financial constraint experienced was eased
by the contribution gotten from friends and relatives.
Additionally, most of the respondents
are not willing to divulge and information regarding their perception of the
product (INDOMIE) produced by DE-UNITED FOOD INDUSTRY in relation to other
related products produced by several competing firms. However, with consistency
and assurance that any information given will only be attributed for the
purpose of the research project and report writing, the respondent feel at ease
in responding to the question asked.
1.6 DEFINITION
OF TERM
In the presentation of this project
work, there are some important terminologies that are peculiar to the topic
under discussion which may not be understood by some readers of this project
such as marketing, market targeting, and market segmentation etc. there are
defined below:
·
MARKETING:
According to British Institute of Marketing (B.I.M) annual report paper of
1982, 3rd edition, page 3, defines marketing as “the management
process responsible for identifying, anticipating and satisfying customer
requirement profitably.
While the American Marketing Association
(AMA) in its own answer report of 1981, 5th edition, page 4, defined
marketing as “The performance of all business activities that direct the flow
of goods and services from producer to customer or users”. The process is a
society by which the demand for economic goods and services are anticipated or
enlarged and satisfied through the conception physical distribution and
exchange of such goods and services.
·
MARKETING CENCEPTS:
Marketing concept holds to the fact that the key for achieving organization pre-determined
goals and objectives is determining the needs and wants of target market and
delivering the desired satisfaction more efficiently and effectively than other
competitors.
·
MARKET:
A particular potential market consists of people with similar need for
particular goods and services, sufficient resources to make a purchase and
willingness and ability to buy.
·
MARKETING SEGMENTATION:
Marketing segmentation can be defined as the analysis of a target market into
several component homogeneous part in such a way that set of buyers can be
differentiated.
This is a process of selecting carefully
a portion of the market and designing a product to meet the requirement of that
particular portion of the market. Market
segmentation reveals the market segment, divide the opportunity facing the
organization. At a point, the
organization has to decide between ways and types of organization market
selection strategies to be adopted.
·
DIFFERENTIATED MARKETING:
Here, the firm decides to operate to several segment of the market and designs,
separate product for each identified market segment.
·
CONCENTRATED MARKETING:
here the firms go after one particular market segment and develop the idea
product or them.
·
UNDIFFERENTIATED MARKETING:
the organization might ignore segment differences and to offer the whole market
with one product offer. T eh organization does this by identifying what is
common in the needs of consumer rather than what is different.
·
TARGET MARKET:
Target market is specific group of people to whom an organization marketing
effort is directed.
·
MARKETING MIX:
This refers tot eh set of controllable variable that firms use to influence the
target market to achieve its objectives.
·
PRODUCT:
This refers to everything both favorable and unfavorable that one receives in
an exchange for its evaluated value usually in monetary term. It can be an idea, service, goods or services
or both.
·
CONSUMER:
this refers to people who patronize a particular product or service to satisfy
variety of their needs.
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