CORPORATE PROFITABILITY ENHANCEMENT BASED ON E – MARKETING PLATFORM

ABSTRACT

This study examined the Corporate Profitability Enhancement Based on E - Marketing Platform. E – market space enlargement, marketing main-stream based product and elimination of internet navigation frustration, confusion and wasting of time was used as proxy for dependent variable while corporate return on investment (ROI), corporate profitability index (CPI) and corporate internal rate of return (CIRR) were used as proxies for explanatory variables. The study used descriptive statistics. The study finds that enlargement in e-marketing space significantly [0.668] affected return on investment (as increment or decrease). The coefficient of determination (R2 = 0.9621) means that 96.21% change in return on investment (as increment or decrease) is attributed to change or enlargement in e-marketing space while 3.79% is associated to unexplained variables. Also, the study finds that marketing main-stream based products significantly [24.352] affected return on investment (as increment or decrease). The coefficient of determination (R2 = 0.916) means that 91.6% change in corporate profitability is attributed to change associated with marketing main-stream products based on e-platform, while 8.4% change may not be accounted for based on explained variables. Finally, the study also finds that the elimination of internet navigation frustrations, confusion and wasting of time significantly [21.796] affected return on investment (as increment or decrease). The coefficient of determination (R2 = 0.908) means that 90.8% change in corporate internal rate of return is attributed to the elimination of internet navigation frustrations, confusion and wasting of time while 9.2% change is unaccounted for by variables considered. Based on the results and findings of the study, we recommend that: education is very expedient and the e – marketing platforms should adopt it as a tool in increasing the corporate return on investment; e – marketing platforms should incorporate main-stream based products whose demands are high in order to attract more demand as this will increase their profitability.

TABLE OF CONTENTS

Title page i

Declaration ii

Certification            iii

Dedication iv

Acknowledgements          v

List of tables vi

Table of contents vii

Abstract ix

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY 1

1.2 STATEMENT OF THE PROBLEM 2

1.3 Objectives of the Study 4

1.4 Research Questions 4

1.5 Research Hypotheses 4

1.6 Significance of the Study 5

CHAPTER TWO

REVIEW OF RELATED LITERATURE

2.1 INTRODUCTION 6

2.2 CONCEPTUAL LITERATURE 6

2.2.1 Electronic Marketing Platforms 6

2.2.2 Concepts of E – Marketing Capabilities and Strategies 22

2.2.3 Concepts of E – Marketing Space 30

2.3 THEORETICAL REVIEW 34

2.3.1 Theory of Corporate Profit 34

2.3.2 Principles to Use in Internet Marketing 36

2.3.3 Features of Online Marketing 37

2.3.4 Challenges in Online Marketing 39

2.4 EMPIRICAL LITERATURE REVIEW 41

CHAPTER THREE

METHODOLOGY

3.1    INTRODUCTION 44

3.2 RESEARCH DESIGN 44

3.3 AREA OF THE STUDY 44

3.4 POPULATION OF THE STUDY 44

3.5 DATA COLLECTION 45

3.6 SAMPLE SIZE AND SAMPLE SELECTION 45

3.7  INSTRUMENT FOR DATA COLLECTION 46

3.7.1 Validity Test 48

3.7.2 Reliability Test 47

3.8 METHOD OF DATA COLLECTION 48

3.9 METHOD OF DATA ANALYSIS 48

3.9.1 Testing of Hypotheses 48

CHAPTER FOUR

DATA PRESENTATION

4.1 DATA COLLATION 49

4.2 TEST OF HYPOTHESES 49

4.2.1 Hypothesis 1 50

4.2.2 Hypothesis 2 52

4.2.3 Hypothesis 3 55

4.3 FINDINGS AND DISCUSSIONS 57

CHAPTER FIVE

CONCLUSION AND RECOMMENDATION

5.1 CONCLUSION 59

5.2 RECOMMENDATIONS 59

REFERENCE 61

Appendix I 70

Appendix II 71

CHAPTER ONE

INTRODUCTION

1.3 Background of the Study

Electronic Marketing is the process of marketing a brand using the Internet. It includes both direct response marketing and indirect marketing elements and uses a range of technologies to help connect businesses to their customers (Trepper, 2000). Electronic marketing means using digital technologies to help sell your goods or services. These technologies are a valuable complement marketing method not considered the size of the business model.

Market requirements and conditions are pertinent to establishing future sales, market share, and profitability (Ngo and O’Cass, 2012). The basic of marketing remain the same – creating a strategy to deliver the right messages to the right people. What has changed is the number of options you have (Kobsa, 2004). Though businesses will continue to make use of traditional marketing methods, such as advertising, direct mail and PR, electronic marketing adds a whole new element to the marketing mix. Many businesses are producing great results with e-marketing and its flexible and cost-effective nature makes it particularly suitable for small businesses (Trepper, 2000). Very simply put, electronic marketing refers to the application of marketing principles and techniques via electronic media and more specifically the Internet. The terms electronic marketing, internet marketing and online marketing, are frequently interchanged, and can often be considered synonymous (Sekar and Geetha, 2013).

There is no doubt that the Electronic Marketing has contributed positively in the life of modern societies, mainly the consuming societies. It allowed purchasing of materials cheaply without any limit, and without any restrictions (Najib, 2004). It also gave the chance to make a free selection and comparison between the prices of goods at the electronic department stores throughout the Internet (Sekar and Geetha, 2013). All such facilities are given to the consumers in a very short time without causing them to leave their office or home. In addition, the Electronic Marketing has exterminated the monopoly of goods and materials, all such acts of course are for the consumer’s benefit (James, 1976).

However, in addition to such advantages there are many disadvantages of such type of marketing, the Electronic Marketing has deleted the privacy of the consumer, because all of his movements through the Internet have been divulged and under control, in addition to lack of exclusive security through the Internet (Najib, 2004). Accordingly, many losses equally occurred to the customer and the merchant due to such acts of hackers who reveal the information and credit cards details.

The Electronic Marketing has also caused many merchants, agents and monopolists to be vanquished because it gave the chance for direct communications between the producer and the consumer without passing through them; as such, many of such merchants have been yielded away from the way of this new technology (Brown, 2014). The Electronic Marketing was able to cause an upset down in many concepts and standards of economic science that have existed for so many years. Doors are still open for every new in this assumption and endless world as there are no limits that can stop such human ambition (Najib, 2004)

1.4 Statement of the Problem

One of the problems in electronic marketing is the enhancement of its profitability. According to the study reported by Cronin-Gilmore (2012), 50% of all businesses close within the first 5 years because of insufficient and poorly executed marketing plans. Trademarks or logos can be used to defraud customers and take away sizeable markets. Not only that, these can also be used for perpetrating negative and erroneous information about the brand, product or service that will ruin the online reputation of the marketer and lose valuable targeted customers. Electronic marketing also can get drowned by too much online Ad-clutter. With both legitimate businesses and questionable entities like trolls, spammers and scammers present in the digital marketplace, the Internet is flooded by lots of online clutter. It would really be doubly hard for Internet marketers to get noticed by their targeted customers. Some consumers now have the tendency to simply ignore Internet advertising, making legitimate businesses lose valuable traffic and of course revenues in the process.

Some products (Goods and services) target the elderly and only a few percentages are tech savvy and may not have access or do not even know how to get online. If that’s the case, you will only be wasting time and resources marketing your products or services through Internet means (Brown, 2014).

Electronic marketing involves too much competition; just like the proliferation of online ads, Internet marketing is faced with a great challenge of too much competition. Digital marketers are scrambling to get into a better position for optimum visibility for their marketing and advertising campaigns, and with the presence of too much competition, will make it doubly hard and expensive to get the attention of targeted audiences.

Electronic marketing reputation can be damaged by negative feedback; digital marketing tools are prone to their perennial problem of negative feedback which can damage your online reputation. A single post or tweet that defames or give erroneous claims and negative feedback about your products or services can scar and ruin your Internet reputation for a long time.

Electronic marketing is highly dependent on technology which can be prone to errors; digital marketing makes use and is highly dependent on technology. In many cases, technology can break down and produce erroneous results that can severely affect your Internet marketing campaigns. Non-working links to important landing pages, pay buttons that do not work and other similar stuff like can ruin your hold of your targeted audiences and lose good business. The specific business problem in e-marketing platform is the lack of marketing strategies to generate profit.

1.3 Objectives of the Study

The major objective of the study is to determine the cooperate profitability enhancement based on e - marketing platform and the specific objectives includes the following;

i. To determine the impact of e – market space enlargement on corporate return on investment (ROI)

ii. To determine the effect of marketing main-stream based product on e – platform on corporate profitability index

iii. To determine the effect of elimination of internet navigation frustration, confusion and wasting of time on corporate internal rate of return.

1.4 Research Questions

The following probing questions become very pertinent:

1. What is the impact of e – market space enlargement on corporate return of investment?

2. What is the effect of marketing main-stream based product on e – platform on corporate profitability index?

3. What is the effect of elimination of internet navigation frustration, confusion and wasting of time on corporate internal rate of return?

1.5 Research Hypotheses

However, to give more emphasis and achieve these objectives we hypothesized that:

H₀₁: E – market space enlargement has no significant effect on corporate return on investment

H₀₂: Marketing main-stream based products on e – platform has no significant effect on corporate profitability index

H₀₃: Elimination of internet navigation frustration, confusion and wasting of time has no significant effect on corporate internal rate of return

1.6 Significance of the Study

This qualitative study will be resourceful to electronic marketing platforms since they will understand the cooperate profitability enhancement of the firm. It may contribute to information on how executives of the firms can implement effective practice of business by exploring marketing strategies for profitability for small and large businesses. The knowledge obtained from study results may help small and large business leaders improve business practices, as well as identify and determine factors that support innovative approaches to improve revenue, profitability, and market share. The implementation and effective execution of marketing strategies for profitability are significant from a business perspective because they may help small and business executives accelerate growth, expand current market position, solidify brand position, and achieve marketing targets. The responses obtained from the data instrument may allow electronic marketing platforms to use the data to identify customer needs, analyze market trends, and forecast marketing and brand strategies for business.

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