ABSTRACT
Promotional strategies are one of the functions of organizations
globally. Through promotional strategies, customer’s needs are met and demand
is also stimulated. This study shows fully how promotional strategies can be
employed. Researches were conducted and different textbooks were also consulted
to know the impacts of promotional strategies and concepts. Workers of the
concern organization were also interviewed to know their view concerning
promotional strategies. This research highlighted the various promotional tools
employed in promoting their products.
TABLE OF CONTENT
Title page i
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Table of content vi
CHAPTER ONE
1.1 Introduction 1
1.2 Statement
of problem 2
1.3 Objective
of the study 2
1.4 Hypothesis
formulation 2 - 3
1.5 Significant
of the study 3
1.6 Scope
of the study 3
1.7 Limitation
of the study 3
- 4
1.8 Definition
of terms 4
- 5
CHAPTER TWO
2.0 Literature
review 6
- 7
2.1 What
is marketing mix 7
2.1.1 Nature of market 7
2.1.2 Price of the product 7
- 8
2.2 Historical
Background of Glaxo Nig. Plc. 8
- 9
2.3 Promotional
tools 9
- 10
2.4 The
composition of promotional strategies 10
- 11
2.5 Organization
chart 12
CHAPTER THREE
3.0 Research methodology 13
3.1 Introduction 13
3.2 Research design 13
3.3 Research instrument 13
- 14
3.4 Population sample and sample size 14
3.5 Hypothesis testing method 14 - 15
CHAPTER FOUR
4.0 Data presentation and analysis 16
4.1 Analysis of questionnaire 16
- 22
4.2 Testing hypothesis 22
- 24
4.3 Research question and responses 24
- 29
CHAPTER FIVE
5.0 Summary, conclusion and recommendation 29
5.1 Summary 29
5.2 Recommendation 29 - 30
5.3 Conclusion 30
5.4 Suggestion for further research 30
Bibliography 31
Questionnaire 32
– 33
CHAPTER ONE
1.0 INTRODUCTION
1.1 HISTORICAL
BACKGROUND
Promotion is a term which has many meanings over the years, its original
meaning in Latin was to move forward. However more recently the meaning has
been narrowed, so it now refers to communication undertaken to persuade other
to accept ideas, concepts or things. More especially promotional activities are
controlled, integrated program of communication method and materials design to
present company and it products to facilitate sales and thus contribute to long
run profit performance.
Promotion is also define according to Dennis: A Dect et al (1974) as
those marketing techniques which are used usually on temporary basis to make
good and services more attractive to customer by providing some additional benefit whether in cash or in
kind.
The code covers much firms of promotions are: Premium offers of all kind,
reduction in price fuel offers, distribution of vouchers coupons and samples
personality promotion, price promotion of all types.
This project is intended to examine the promotional strategies as a force
in errably associated with other aspect of marketing and applicable to the
total activities of any organization be it commercials social or otherwise.
Promotion is not a subject the marketers and business organization can
just reject, if the business is to achieve its
stated goals and objectives, the business organization and marketer in
particular has to make use of various strategies in other to face their
competitors if the organization wants to remain in the business world.
The Gloxo Nigeria Plc. Agbara Lagos (Pharmaceutical industry) today fewer
with the serious competitors and can less some strategies are used to capture a
large share of the market, it may be difficult for a firm to penetrate.
The Gloxo Nigeria Plc. Agbara Lagos (Pharmaceutical industry) has many
competitors. This is why the company has been intensifying its efforts in area
of promotion in other to have and maintain a large share of the market, through
the aid of promotional strategies. Advertising sales promotion, personal
selling and publicity has enabled the company to fight with other competitors
and consequently increases sales of the company.
1.2 STATEMENT
OF THE PROBLEM
Promotion is a key element of the marketing strategies. It is very vital
to the marketing process although it is costly, it helps infirmity customers
about the right products and services.
The promotional strategies is made-up of advertising, sales promotion,
personal selling and publicity. The four components of the promotional
programme are used in isolation, they go in pari-pasu. For example, though
advertising may be most suitable for a purpose and sales promotion for another,
the two are often employed simultaneously, the relative emphasis depending upon
circumstances. Advertising may be used to support sales promotion and vice
versa,
The pharmaceutical programmes, itself is in turn one aspect of the firms
marketing strategy. Decisions that are made in this area must therefore be
consistent with decision about the product, price and distribution.
However, it is disheartening to note that both producers of tangible and
intangible (services) tend not to supplement or use there promotional tools
interchangeably. For instance, most services establishment have solely depend on
advertising for the purpose of promoting their business and this tends to
affect them in terms of consumer patronage.
Furthermore, the industry has solely neglected the other promotional tools
particularly personal selling in promoting their business. This development has
not affected their operations only but also the consumer perception of their offering.
1.4 OBJECTIVE
OF THE STUDY
The objective of this work is to show the effects of promotional strategies
on pharmaceutical industry.
1.5 HYPOTHESIS
FORMULATION
Ho: There is no significant difference between
the sales of the company product through personal selling and sale through wholesalers.
Hi: There is significant difference between the
sales of the company promotion through personal selling and sales through wholesales.
Ho: There is no significant difference
between the sales recorded when advertising is done and when not.
Hi: There is significant difference
between the sales recorded when advertising is done and when not.
Ho: There is no significant difference
between the market share controlled by the company and the competitors share.
Hi: There is significant difference between
the market share controlled by the company and the competitors share.
1.5 SIGNIFICANCE
OF STUDY
This research after completion would enable Gloxo Nigeria Plc. Agbara
Lagos (Pharmaceutical industry) to appreciate its promotional strategies with a
view of making amendments where necessary, thus providing more effective ways
in achieving its corporate objectives
through promotional effort within the industry. This would contribute to the
general knowledge in the field.
1.6 SCOPE
OF THE STUDY
This research would focus on the promotional strategies which
manufacturers can use in reaching the ultimate consumer with their products.
Also to be investigated is the issue of selecting the most appropriate
promotional strategies to be use in other to help right consumers, a retailer
or a wholesale and to attain excellence in their promotional strategies at a
reduced cost.
This study would also analyze the relevant turn in promotion and the
factors that influence the promotion of pharmaceutical industry. Also the
problems face by the Gloxo Nigeria Plc. Agbara Lagos (Pharmaceutical industry)
in the process of enduring effective promotion of its products.
1.7 LIMITATION
OF THE STUDY
The research encountered some problems during the course research works.
i.
Transportation is one of the first problems encountered
during the period of going up and down to the industry to get the information.
ii.
Another problem: Associated problems in the process of
data collection in relation to scheduling of time.
iii.
The scarcity of relevant related to textbooks.
iv.
Time constraint: This project researcher has a limited
time lag within which the research work is to be carried, completed and submitted
for approval. As a result, more data pertaining to the subject matter of this
research finding couldn’t be collected and gathered.
v.
Financial constraint: There is a shortage of funds to
carry out this research findings at the writers (researcher) disposal. This
includes among others the cost of stationeries, project building as well as
transportation costs which prevent the researcher from embarking on a more
comprehensive research work.
vi.
Lack of cooperation: Some respondent reluctantly
refused to obtain questionnaire from the researcher on the pretext of wasting
time and others that obtain theirs even misplaced them. Even the staff that
gave me the historical background and organizational structure of the Glaxo
Nigeria Plc, Agbara Lagos (Pharmaceutical Industry) did so correctly out of
fear of being noticed.
1.8 DEFINITION
OF TERMS
Promotion: This can be defined as the
process of communication between seller and potential buyer to influence
attitudes and behaviours personal selling involves direct face-to-face
communication between seller and potential buyer. Mass selling is defined as
communication with the large numbers of the potential customers.
It is also defined as the process of marketing technologies which are
used usually on temporary basis to make goals and services more attractive to
customers or the potential buyers.
Places: Place means the various
activities the company undertakes to make the product accessible and available
to target customer, the management is responsible to select and manage the
trade channels through which the product will reach the right market at the
right time and develop a distribution system.
Marketing Mix: marketing mix as “the
term used to describe the combination of four inputs that contribute the cone of
the company system” while another looks it as the process of a set of
controllable variable that the firm can use to influence the buyer response.
Industry: It means on establishment
that make use of mechanical in reactions or machineries in the production
process.
Impact: It means the profound effect or
influence, which any activities has on its environment.
Promotion: It could be defined as any
action displayed to bring the product to the knowledge of the public. It is
part of direct and indirect advertising programmes, which is intended to
stimulate quick sales action and it also consisting and personal selling
helping to make them more effective e.g special price sales, free sample
distribution, premium offers contests coup offers, point of sales
demonstrations, pack product offers.
Public Relations: This can be defined
as the process of management function that evaluate public attitudes, identify
the policies and producers of individuals or organization with the public
interest and executive a progarmme of action to earn public understanding and
acception.
Advertising: According to Philip
Kolter, it is defined as any paid form of non-personal presentation and
promotion of ideas, goods and services by an identified sponsor.
Personal Selling: It can be defined as
the process of match up specific product with customer on a person-to-person
basis to secure ownership transfer. it is also an oral presentation of items of
product or services to the buyers. These methods are used in selling high
complex technical products.
Price: This is made about product
planning and of pricing polices by the management. It is also defined according
to the Cardiff (1980) as promotional misers of promotional activities where all
promotional elements are used effectively and each is assigned adequately with
weight in the total a product can be defined as those thing offered to a market
which includes, physical objectives, social amenities for satisfactions, this
includes not only physical products or services offered but also personality’s
idea and organizations.
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