ABSTRACT
The study examined the effect of marketing mix strategy
on sales volume of sacclux paint industry. The specific objectives includes: to
determine the effect of price on the sales volume of the products, to ascertain
the distribution channels that affect the sales volume of the product, to
determine the effect of promotion on the sales volume of the products of the
company, to examine the effects of product quality on the sales volume of the
company, to examine the effect of place on sales volume of the product. Primary data obtained from
administration of questionnaire was analyzed using descriptive statistic such
frequency, simple percentage and mean, multiple regression model was specified.
The multiple regression analysis results revealed that price, distribution
channel, promotion and product quality have significant and positive effects on
the sales volume of the organizations. It was based on this premise that the
study recommends that management of saclux paint
limited Umuahia should consider the prices of products sold since price attracts
customers from buying a products. Much emphases should be given to the price
structure and its price should be set according to the forces of demand and
supply, there is
also need to carryout regular advertisement, personal selling, sales promotion,
public relation, direct marketing, exhibition and cooperate image since its can
easily affect the sales volume of any firm if appropriately apply.
Keywords: marketing mix strategy and the sales volume
TABLE OF CONTENTS
Title Page i
Dedication ii
Acknowledgement iii
Declaration iv
Certification v
Table of Content vi
List of tables
vii
Abstract viii
CHAPTER ONE
Introduction
1.1 Background of the study
1
1.2 Statement of problems
3
1.3 Objective of the study
4
1.4 Research questions
4
1.5 Research hypotheses
4
1.6 Significance of the study 5
1.7 Scope and limitation of the
study
6
CHAPTER TWO
Literature Review
2.0 Introduction
7
2.1 Concept of marketing mix
7
2.2 Purpose of marketing mix
8
2.3 Elements of the marketing mix
10
2.3.1 Product
11
2.3.2 Price
12
2.3.3 Promotion
13
2.3.4 Place 14
2.4 Effects of
the Marketing Mix on Sales Volume of Industries 15
2.4.1 Influence of product on sales Volume
16
2.4.2 Influence of place on sales Volume
18
2.4.3 Influence of promotion on sales Volume 18
2.4.4
Influence of price on sales Volume 19
2.5 The
Marketing Mix: An Appropriate Marketing Strategy 19
2.6 Features of Marketing Mix
21
2.7
Empirical Framework 23
2.8 Conceptual framework
27
2.9 Theoretical Framework
29
CHAPTER
THREE
Research Methodology
3.1 Research
design 31
3.2 Area of
the study 31
3.3 Population
of the study
33
3.4
Determination of sample size 33
3.5 Sampling techniques
34
3.5.1. Method of Data Collection
35
3.6. Validity
of Instrument 35
3.7 Reliability of
Instrument
35
3.8 Methods of
data analysis 36
3.9 Model
specification
36
CHAPTER FOUR
Result and
Discussion
4.1 Data
presentation, interpretation and analysis 37
4.2.1Test of
Hypothesis
53
4.2.2 Test of
hypothesis 1
55
4.2.3 Test of
hypothesis 2
56
4.2.3 Test of
hypothesis 3
57
4.2.4 Test of
hypothesis 4
57
CHAPTER FIVE
Summary, Conclusion and Recommendations
5.1 Summary 59
5.2 Conclusion 60
5.3
Recommendations
60
LIST OF TABLES
Table 4.1: Based on questionnaire distributed 37
Table 4.2: Distribution of the respondents according to
their socio economic characteristics 38
Table 4.3. Rating the effect of fixed price system on the sales volume of
product saclux paint limited Umuahia 40
Table 4.4: Rating the effect of free price system on the sales volume of
product of saclux paint limited? 41
Table 4.5: Rating the effect of price structure on the sales volume of
product of saclux paint
limited 42
Table 4.6 Rating the use of wholesales and it effect on the sales
volume of saclux paint limited 43
Table 4.7Rating
the effect of retailing on the sales volume of saclux paint limited 43
Table 4.8 Rating
the effect of distributors on the sales volume of saclux paint limited 44
Table 4.9 Rating the effect of advertisement on the sales volume of saclux
paint limited 45
Table 4.10 Rating
the effect of sales promotion on the sales volume of saclux paint limited 46
Table 4.11Rating
the effect of personnel selling on the sales volume of saclux paint limited 46
Table 4.12 Rating
the effect of public relation on the sales volume of saclux paint limited 47
Table 4.13 Rating
the effect of exhibition on the sales volume of saclux paint limited 48
Table 4.14 Rating
the effect of product quality on the sales volume of saclux paint limited 48
Table 4.15 Rating
the effect of rebranded product on the sales volume of sacluxpaint limited 49
Table 4.16 Rating
the effect of place/location product on the sales volume of saclux paint limited 50
Table 4.17 Rating
how nearest to customers effects the sales volume of saclux paint limited 50
Table 4.18 Rating
the effects of distribution point on the sales volume of saclux paint limited 51
Table 4.19 Rating
the effects of sales volume on
the sales volume of saclux paint
limited 52
CHAPTER ONE
INTRODUCTION
1.1 Background
of the study
Marketing is
an important socio-economic activity with history of many centuries. It is an
essential activity for the satisfaction of human wants and raising social
welfare. Modern marketing is global in character. Everyone participates in
marketing activities for the satisfaction of needs and wants. Marketing is the
process of planning and executing the conception, pricing, promotion and
distribution of ideas, goods, services, organizations and events to create and
maintain relationships that satisfy individual and organizational objectives
(Nwakanma, Jackson and Burkhalter, 2007). The best way to achieve the
organizational objective of achieving high sales volume is through the
satisfaction of its customers. To satisfy customers, it is not only necessary to
know who they are, but what they need, and how to meet those needs in ways that
are consistent with the organization‘s objectives (Kotler, 2012). This
assumption places emphasizes on the marketing mix (4Ps product, price, place
and promotion).
Production is
the base of marketing. It supplements production activities by distributing
goods and services. Marketing links producers and consumers together for mutual
benefits. It facilitates transfer of ownership of goods and services to
consumers. Production will be meaningless if goods produced are not supplied to
consumers through appropriate marketing mechanism.
A firm’s
product offering and strategy constitute to its lifeline to the marketplace.
Therefore, product strategy is the way a firm competes in the market and
improves its total sales volume. To keep consistent performance, firms
regularly adjust their marketing strategies to conform to changes in the export
markets with the aim of enduring responsiveness to their operating market place
Ye, Li, and Levi, 2007).
Marketing Mix
is one of the most fundamental concepts in marketing management (Martin, 2014).
The use of a marketing mix is an excellent way to help ensure that ‘putting the
right product in the right place, will enable the organization achieve its
objectives. The marketing mix is a crucial tool to help understand what the
product or service can offer and how to plan for a successful product offering.
The marketing mix is most commonly executed through the 4
P’s of marketing.
For attracting
consumers and for increase in sales volume, every manufacturer has to
concentrate on four basic elements/components. These are: product, pricing,
distributive channels (place) and sales promotion techniques. A fair
combination of these marketing elements is called Marketing Mix which is
capable of increasing the sales volume of any product.
Sales volume
refers to the quantity or number of products sold or services provided by a
company in a particular period of time. Afande and Maina (2015) noted that the
sales volume of an and services industry is singularly determined by the
marketing mix it adopted, insisting that promotional element as a marketing mix
has influence on sales volume. When properly implemented, sales promotion
techniques would help retailers or manufacturers to encourage customers to
patronize their stores and to try out the products being promoted, and in
return would help the retailers and manufacturers to achieve their objective
which invariably is increased sales volume (Ndubisi and Chiew 2005). Contemporary
corporations especially production industries such as Saclux Paint, Umuahia
have restructured their distribution systems to take benefit from the major
improvements that were made in the information system, transportation and
storage infrastructure. The introduction of Information Management System (IMS)
has greatly eased order receipt; order processing, resource allocation, order
invoicing and analysis of distribution cost which has promoted the application
of the 4p’s of marketing in a bid to promote sales volume. This makes it
imperative to investigate if in essence marketing mix strategy actually
influences sales volume.
1.2 Statement of problems
Efficient
marketing mix strategy enables the organization to determine what to produce,
at what price to offer such product, how to communication the product to the
public and how to decide on the most efficient delivery systems. Hence the
success of the manufacturing organizations depends on a good understanding of
marketing mix strategy. The observed problem is that many manufacturing
establishments are yet to appreciate the importance of marketing mix strategy
to the successful performance of their companies, they appear to lack adequate
product mix knowledge, efficient pricing policy, sound promotion mix and
delivery and distribution understanding. Most product failures may be traced to
poor understanding and handling of marketing mix strategy.
Poor
combination of the various marketing mix elements: product, price, promotion
and place (Distribution) is a major problem faced by most companies. These are
empirically examined to determine the extent they affect sales volume of the
company.
1.4 Objective
of the study
The broad
objective of the study will be to ascertain the effect of marketing mix
strategy on sales volume of sacclux paint industry. While the specific
objectives includes to:
i.
determine the effect of price on the sales volume
of the product
ii.
ascertain the distribution channels of Sacclux
Paints Nigeria LTD that affect their sales volume
iii.
determine promotion tool that influence the sales
volume of the products.
iv.
examine the effects of product quality on the sales
volume of the product
v.
examine the effect of place on sales volume of the
product
1.4 Research
questions
1. To
what extent does price affect the sales volume of product?
2. How
does distribution channels affect the sales volume of the product?
3. To
what extent does promotion tool effect on the sales volume of product?
4. How
does product quality affect sales volume of the product?
5. What is the
effect of place on the sales volume of the product?
1.5 Research
hypotheses
The following hypotheses
were formulated to guide the study:
Ho1: Price has no significant effect on sales volume of the product
Ho2: Promotion has no significant effect on sales volume of the product
Ho3: Place/location has no significant effect on sales
volume of the product
Ho4: Product quality has no significant effect on
sales volume of the product
1.6 Significance of the study
This study is
needed because it permits the student to gains insight into the marketing mix strategies
most especially in the paint industry. Also it enables the students to know the
problems and how to tackle such problems in future when he/she might decide to
go into practice. It will also offer the student the opportunity to make
suggestions on how to eliminate any deficiency when called upon during the
course of his/her practice. It will also enable the student to know how to
implement the 4Ps of marketing in other to achieve the maximum result when
he/she start practicing.
The study is
beneficial to the company to discover the various effective means of directing
their products to potential customers and thereafter increase sales volume of
their products. To future researchers: It will be useful to future researchers
that want to embark on a research work related to the problems under study.
The study will
be beneficial to wholesalers and retailers of the product for faster
sales.
1.7 Scope
of the study
The area
covered in this study include the four promotional mix variables namely (product,
price, place and promotion). The research was structured and focused on Saclux
Paint Industries Umuahia.
1.8 Limitation
of the study
The
limitations of the work are many and varied but the following are the
outstanding ones.
Time constraints:
The period for
this work is too short, hence it is too tasking especially when it has to be
combined with routine lectures.
Inadequate materials:
Academic
material on marketing mix strategy are not sufficient enough for the study.
This means that I had to go out and visit several libraries in search for
relevant materials with the title resources available to me acquiring these
material became a problem.
Measurement
error and availability of required data.
Nevertheless,
these limitations will not negatively affect the outcome of the study.
Click “DOWNLOAD NOW” below to get the complete Projects
FOR QUICK HELP CHAT WITH US NOW!
+(234) 0814 780 1594
Login To Comment