TABLE OF CONTENT
Front page i
Certification ii
Dedication iii
Acknowledgement iv
Table of content v
CHAPTER ONE
1.0
Introduction 1
1.1
Statement of problem 1
1.2
Objectives of the study 2
1.3
Research
question 3
1.4
Statement of Hypothesis 4
1.5
Significant of the study 4
1.6
Scope
of the study 4
1.7
Limitation of the study 5
1.8
Historical background of the study 5
1.9
Definition of terms 7
CHAPTER TWO
Literature Review
2.0
Introduction 9
2.1
Concept of marketing 9
2.2
Evolution of marketing 11
2.3
Concept of marketing mix strategy 13
2.4
The roles of marketing mix strategy 14
2.5
Marketing mix variable 15
2.6
Product 16
2.7
Pricing 21
2.8
Promotion 23
2.9
Distribution channel 29
CHAPTER THREE
Research Methodology
3.0
Introduction 38
3.1
Research design 38
3.2
Research population 38
3.3
Sample size and sample techniques 38
3.4
Source of data collection 39
3.5
Research instrument 40
3.6
Reliability and validity instrument 40
3.7
Method data analysis 40
Questionnaire
CHAPTER FOUR
4.0
Introduction 46
4.1
Data analysis and presentation 46
4.2
Test of hypothesis 59
4.3
Summary of findings on the hypothesis 65
CHAPTER FIVE
5.0
summary,
conclusion and recommendation 67
5.1
Summary of findings 67
5.2
Conclusion 67
5.3
Recommendation 68
Reference.
CHAPTER ONE
1.0
INTRODUCTION
The aims of every
organization is to minimize cost and maximize profit. An effective marketing
mix strategy plays an important role towards enhancing the objective to be
achieve by the organization.
Those days when product was matched with the market gone. The
modern marketing concept enhances the importance of consumer’s preference and consumer’s
satisfaction. Therefore, the management is concerned with various policies on
four elements of the marketing mix (4p) i.e. the product, the price, the promotional activities and the place.
The marketing mix strategy occupies a paramount position in
the function of marketing management. It must also be cleared, that management
is decision on one of the element has effects on others because they are
inter-related and has weight on the performance and growth of any business
form.
1.1
STATEMENT OF THE PROBLEM
Today, business world has
become a servant of the society by trying to provide adequately the needs and
waste of the society yet some business organization find it difficult to make
accurate decision on each element of the marketing mix in order to achieve the
organization objectives.
Therefore, the researcher has been able
to analyze some of the following problems.
i.
Uncertainty
of which of the several product designs are mostly likely to be accepted in the
market?
ii.
What
price should company charge for its product?
iii.
How
will profit change under various pricing strategy?
iv.
Where
and to whom the company product be sold?
v.
How
much company spend on promotion in terms of each product and geographical segmentation?
vi.
Does
the benefit justify the cost of a planned marketing mix strategy?
vii.
Then
how well can this marketing mix strategy consumer?
1.2
OBJECTIVES OF THE STUDY
This project work is
embarked to achieve the following objectives
i.
Whether
the product of lubcon satisfy the consumer in term of quality.
ii.
To
find out the distribution method used by the company is adequate to ensure the
availability of products to consumers at the right time and of the right place.
iii.
To
determine whether the pricing strategy of the company is in line with what
consumers and channel members satisfaction compares with its competitors.
iv.
To
determine whether a promoted activities of the company have an impact on the
sales volume.
v.
And
finally to detect and resolve likely problem which management encounter in
implementation of marketing mix strategy.
1.3
RESEARCH QUESTION
In order to achieve the
objectives of the research certain questions have to be posed to enable the
researcher attempts a detailed study. Such questions are:
i.
How
important is the marketing mix strategy to the organization?
ii.
Does
quality product promote sales?
iii.
How
does the company maintain its position in a place of competitive market?
iv.
What
techniques does the company choose as the best to improve their promotional
activities?
v.
Is
profit adequate in relation to capital employed?
vi.
What
type of distribution does the firm choose to distribute its products?
vii.
What
type of distribution channels does the firm use to distribute its product?
viii.
What
pricing strategy does the company use in fixing price for a new product?
1.4
STATEMENT OF HYPOTHESIS
i.
Ho: Quality product leads to consumers satisfaction
Hi:
quality product does not lead to consumers’ satisfaction.
ii.
Promotion
activities have no effects on the sales volumes
iii.
Ho: marketing strategy normally pursued by organization
without consumers consideration would normally succeed.
iv.
Hi: marketing strategy pursued by organization without
consumers consideration normally failed.
1.5
SIGNIFICANCE OF THE STUDY
This
study will have a prominent place in the operation of virtually of all business
organization, most importantly to new investors seeking to establish a new
business as it would serve as guide to them in their plan and decision making.
It will also give the researcher an experience and exposure to various
particular marketing activities.
Not only that, it will similarly serve as secondary date for
students embarking on related researches for further reading.
1.6 SCOPE OF THE STUDY
The research topic focus on the impact of
marketing strategy on the growth of a firm, and the scope of this research is
limited to Lubcon Nigeria limited, particularly it’s Ilorin depot, headhunter,
and customers in Ilorin.
1.7 LIMITATION OF THE STUDY
The study was
limited by finance particularly, because the researcher has to combine classes
with the other academic engagements to the task of writing this project.
Also sort time
frame from the completions of the project work did not permit wide latitude of
data collection. Not only that the cost of transportation gathering materials
for the project and other unanticipated cost were also borne by the researcher.
1.8
HISTORICAL BACKGROUND OF THE STUDY
LUBCON LTD and Gas Company was incorporated
in August 1991 as a limited liability company to engage in business of blending
lubricants together with distribution and sales of petroleum and allied
products.
The company’s head quarters and A’s plant are located at
lubcon Avenue, Adeqale Industry Layout, Ilorin Kwara
State.
The initial stage of operation in Lubcon Company Started with
staff including the Chairman himself (ALH. JANI IBRAHIM).
During these times, they managed to produce 25 cartoons per
day and distributed their product with only one pick up van.
Over the years, the company has grown to be the biggest and
fastest growing independent lubricant blending company in Nigeria with an ultra
modern blending plant of 10,000,000 liters capacity per annum on a single shift
located at Adewale Layout, ilorin, in addition the company has a mine blending
plant of 2.5 million liters capacity per annum located along Zaria road
Tranburawa, Kano.
In
1995,Lubcon became the Association (NATA). In recognizing the quality products
of the company, Lubcon was first company in Nigeria
to be awarded the prestigious NIS
award (Nigeria Industrial Standard) for lubricating oil. In 2002, Lubcon became
the first indigenous oil and gas company to be certified in Nigeria.
In
2005, it became the oil company to blend a Lubricant For National Union Of
Petroleum And Natural Gas Workers (NUPENG).
Also
in 2006, (NURTW) Nigeria Union Of Road Transport Workers made Lubcon its
official blender.
Lubcon
is product that are of different types and in sizes. It manufactures product
like super TV 50, Lubcon Adrenalin 2000/50, Lubcon motor lube, Lubcon Grease,
Lubcon 2T, Lubcon perform XV 50, Lubcon super outboard. These product are
packaged in different size ranging 0.s liters, 1 liter, 2 liters, 4 liters, 5
liters, 185 liters and 200 liters.
In
an attempt to distribute its wide range of products, the company maintain a
network of active retain outlets in more than 63 location all over Nigeria. In
addition, Lubcon is in joint partnership with Nigeria.
1.9
DEFINITION OF TERMS
MARKETING MIX STRATEGY
It
is the combination of four elements of
marketing mix in right proportion to achieve a firm objectives.
i.
STRATEGY: it is the plan of cost of action
that is limited to achieve a particular purpose.
ii.
CHANNEL OF DISTRIBUTION: this is the route of the pipeline
through which goods and services pass from the producer to its ultimate
consumers.
iii.
CUSTOMERS: it is an individual or group of
individual who buy, use or sell a product.
iv.
FIRM: this is the producer of goods and
services consumers of used by consumer or business users.
v.
PRICE: this is an agreement between buyers
and seller concerning what amount.
vi.
MARKET: it is the actual and potential
buyer of company’s products.
vii.
MARKET AND HARE: this is the percentage of consumer
that a company has out of the total market.
viii.
PROFIT: it is a financial reward to a
business firm after the cost and other expenses involved in production of goods
and services.
ix.
MARKET POSITION: this is the rank of a given product in the market relation to
competing product.
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