TABLE
OF CONTENTS
CHAPTER
ONE
1.0 Introduction
1.1 Statements
of the problem
1.2 Aims
and Objectives of the study
1.3 Significance
of the Study
1.4 Scope
of the Study
1.5 Limitation
of the Study
1.6 Definition
of the term
CHAPTER
TWO
2.0 Literature
Review
2.1 Tools
for tracking and measuring customer satisfaction
2.2 Deliverance
customer value and satisfaction
2.3 Value
Chain
2.4 Value –
Delivering Network
2.5 Attracting
and retaining customers
2.6 Attracting
customer
2.7 Computing
the cost of customer
CHAPTER
THREE.
3.0 Research
methodology
3.1 Population
and sample size
3.2 Method of
Data Collections
3.3 Method
of Data Presentation
3.4 Method
of Data analysis
CHAPTER
FOUR
4.1 Historical
Background of Berger Paints
4.2 Data
Presentation, Analysis, and Interpretation
4.3 Testing
of Hypothesis
4.4 Discussion
of Findings.
CHAPTER
FIVE
5.1 Summary,
Recommendation and Conclusion
5.2 Summary
of the Research findings
5.3 Conclusion
5.4 Recommendation
5.5 Appendix
5.6 References
ABSTRACT
Before any business can succeed in winning
customers and outperforming competitors, there is need to embark upon a
thorough task. Generally, companies are facing toughest competitions in
building customers, not just product. Many companies is of the opinion that it
is the marketing or sales department jobs to procure customers, if they cannot,
the company draws the conclusion that marketing people are not capable and
competent; but intact marketing, is only one factor in attracting and keeping
customers. The topic aids the researcher to improve and increase the sales
volume of the organization. Its makes to know that the interest of consumer
should be bear in mind and be properly monitored for success accomplishment
thereby retaining them. The best marketing department in the world cannot sell
product that are poorly made or fail to meet consumers need.
Therefore, the project concluded that if present
economic system continue aid prosper, the marketing manager of Nigeria
must uniformly have as their goal the satisfying of consumers desires.
Also the project recommended that the company must
pay adequate and closer attention to its customer defection rate (the rate at
which the company losses customers) by improving on its existing products
quality. The company should motivate its employees (salesman) so as to serve
the customer better.
CHAPTER ONE
1.0 INTRODUCTION.
In
our society and the world at large companies are facing toughest competition
ever. Before any business can go about winning customers and outperforming
competitors, there is the need to do a thorough task of meeting and satisfying
consumer needs. It is only customer centered consumers companies that are adapt
at blaming customers not just product. So many companies think that it is the
marketing or sales department’s job to gain customers. If they cannot, the
company draws the conclusion that is; the marketing people are not very good
and are not effective in discharging their duties. But marketing is only one
factor in attracting and keeping customers. The best marketing department in
the world cannot sell products that are poorly made or fail to meet consumers
need.
The
consumer is faced with an infinite number of choices in his buying behavior. He
makes a decision on whether to spend his money or save it. If he chooses to
spend it, he has a wide range of product choices available to him. Even within
the relatively narrow field of paint industries the consumer has, from five to
ten different brands of paints from which to choose in the average paint shop
or depot, obviously, no one brand is going to be sold for long if it stops
giving the customer what he wants. Hence, it is a total error for a marketing
manager to believe that the consumer must buy his product.
The
consumer bestows his favor on those who give him what he wants in product,
price, promotion and convenience. The penalty for disobeying his mandate is
almost certain failure. There are numerous illustrations of firms that refused
to obey “Key consumer”, thereby incurring his wrath. At one time, the Waltham
Watch Company was held in high esteem by watch buyers decided that the wrist
watch was preferable to the pocket watch and subsequently, the consumers
changed their buying habit, Waltham
was a stubborn until the consumer forced it to do so by refusing to buy pocket
watches. Meanwhile, key consumer decided that he wishes his wrist watch to do
more than ten times, he wanted a fashionably styled time piece. The majority of
firm in that country immediately entered a competitive race on a fashion basis,
but not Waltham.
His refusal to produce a properly style watch eventually caused its failure.
Obviously,
the consumer seldom directly commands a manufacturer.
1.1 STATEMENT OF THE PROBLEM
The
researcher must confine himself with the following inherent factors for prompt
considerations”
1. Of
what quality and quantity would they prefer to buy?
2. Is
the price charged on the product not too high enough for them to bear?
3. Is
there any welfare package available for the consumer at all?
4. Are
company products readily available to any shortest possible notice from
consumer?
5. Are
there any positive responses from consumer as to the prospect of the business?
The
researcher must however bear in mind and proffer proficient solution and
answers to these numerous questions if he is to guarantee himself of success or
survival of the business entrusted to him.
1.2 AIMS
AND OBJECTIVES OF THE STUDY
The
objective of this research work is to improve and increase the sales volume of
the organization as a whole. The study allow for freedom of information (FOI)
by the consumer (Consumerism). This is done by evolving customer complaint
department so as for them to disclose their displeasure and grievance about the
services being rendered to them either in term of price, quality, quantity,
test marketing, and prototype as highlighted in the statement of problem
written earlier.
It
guarantees the future of the business at a profit. The study enables the
consumer to participate actively through their willingness to buy the
product and play for
the service rendered to them. As it is well known that consumer is a key, they
dictate what business is i.e the prospect and exit of the business is to a
large extent determined by him. The interest of consumer should be properly
monitored for success accomplishment.
1.3 SIGNIFICANCE
OF THE STUDY
The
important of the study is that it broadens and widens the researcher’s
knowledge. The topic chosen has really increases or improves the standard of
living of the researcher. The study serves as an impetus to participate
actively without allaying fears or panic in the field of practice. The study
being “Consumer Satisfaction and Retention as a key to business survival” plays
a dominant role in any business ramification.
The
study of this research work is a pre-requisite in partial fulfillment of the
requirement for the award of Higher National Diploma in Marketing. The research
equally creates awareness to the society at large as regards what consumer
satisfaction is all about in running of the organization in the respect that it
helps in solving problems associated with the satisfaction of consumers how
consumer can be valued at a profit.
1.4 SCOPE
OF THE STUDY
The
scope of this study is limited to paint industry. It is therefore imperative
for the researcher to carry out all necessary enquiries and activities within
the boundary specified in the study. The scope will also cover the conceptual
aspect in terms of user, colour, behavior, reaction and modes, friends and
relative.
The
market scope covers Ilorin
Township to immediate
consumer areas. The industrial scope will cover all the manufacturers of paint
product. But the case study of this research will be BERGER PAINT NIGERIA
LIMITED. The geographical aspect of the scope is going cover Ilorin metropolis area directed to the
consumer.
The
area of interest will be on the number of sales recorded in the five
consecutive years (2003 – 2008).
1.5 LIMITATION
OF THE STUDY
This
is varieties of problems faced white carrying out this research work. One of
this is thane constraint. There is no adequate time or sufficient time for the
researcher to visit and consult all necessary sales depots, distributors, and
consumers of Berger paint Nigeria Limited, since they are not geographically
sited in one region. In view of the limited time available for the final
submission of this project work, the researcher has to limit the research
finding to Ilorin
depot of the company since they offer likely services or operations.
The
researcher however came about finding solution to this problem by taking one
advantage of the semester break given by the school authority to consult and
gathered all vital information’s necessary and needed for this research work
from their various district and sales outlet (Berger Paint Nigeria Limited)
such as Lagos depot of the company and Ibadan respectively. This
done so as to update, equipped, and enlightening the researcher on the topic
chosen.
The
researcher is also faced with some administration problems from the staff of
Berger Paint Nigeria Limited. The staffs were always reluctant to grant
interview being carried out by the researcher. The solution to this is achieved
by re-orientate them and give a kind of incentives as motivation in order to
change their lackadaisical attitude towards the researcher and their customer
at large. Consumer satisfaction and retention. A key to business survival.
1.6 DEFINITION
OF TERMS
(a) CONSUMERS: These are groups of
individuals in an organization who are buyers for consumption purpose. They are
not buying to make profit, but to satisfy basic or psychology needs or wants.
(b) TOTAL CONSUMER VALUE: This is the
bundle of benefits consumer expect to derive from a given product or service.
(c) TOTAL
CONSUMER COST: This is the bundle of cost consumer expect to incure in
evaluating, obtained using, and disposing of the product or services.
(d) MARKETING:
Marketing is the total system of interrelating business activities designed to
play price, promote and distribute want, satisfying goods and services to
prospective customers. (would be customers).
(e) SATISFACTION:
Is all about pleasing the consumer by making available what they want, need at
the right time, in the right place and with the right price. To provide them
with what they want, needed or asked for.
(f) RETENTION:
All the activities involved in finding and retaining consumers and growing the
business.
(g) CONSUMER SATISFACTION: This is the way by
which the consumer pleased with the company aim and objective to make profit.
It is the way by which the company makes every effort to make goods and
services available for the consumer at the right time, in the right place and
at the right prices.
(h) BUSINESS SURVIVAL: This is all about the
improvement or growth of the business. Meanwhile, the primary aim of any
business is to minimize loss.
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