ABSTRACT
This study was focused on marketing research as a tool for increased profitability in soft drink industry, a case study of Nigerian bottling company plc Owerri. The main objective of any business organization is to produce goods and service that will satisfy the needs of its customers at a profit. It is truism that no business organization can survive without information. The objectives set for this study was; to determine if marketing research significantly aid marketing decision making ; to ascertain if marketing research impacts positively on the profit of the organization ; to determine if marketing research contributes much significantly to product qaulity improvement in the firm. The population of the study is 100 which consist of the staff of Nigerian Bottling Company Plc Owerri. The sample size is 80 which forms the bases upon which the analysis was carried out. The respondents were surveyed by means of questionnaire that was self administered. The primary data gathered by means of the survey conducted were analyzed through frequency tables. The chi-square statistical tool and correlation test were later employed to examine the statistical significance of the relationship studied. The results of the findings from the analysis carried out shows that marketing research impacts positvely on the firms´s profit, aids marketing managers in decision making; contributes significantly to customer satisfaction and improves the firm´s product qaulity as well. In view of this findings, the researcher also recommend the retainance of competent personel to carry out marketing research that will continously aid the marketing managers decisions towards competitiveness in this ever changing and dynamic globalized economy, that marketers strive to remain afloat through customer delight.
TABLE OF CONTENTS
Title i
Declaration ii
Certification iii
Dedication iv
Acknowledgement v
Table of contents ix
List of tables x
Abstract xi
CHAPTER ONE
1.0 INTRODUCTION 1
1.1 Background of the study 1
1.2 Statement of problem 4
1.3 Objectives of the study 6
1.4 Research questions 6
1.5 Research hypothese 7
1.6 Significance of the study 7
1.7 Scope of the study 8
1.8 Limitations of the study 8
1.9 Operational definition of terms 9
CHAPTER TWO
2.0 REVIEW OF RELATED LITERATURE 11
2.1 Introduction 11
2.2 Nature of marketing 14
2.3 Marketing research 15
2.3.1 Types of marketing research 17
2.3.2 Forms of business research 19
2.3.3 Roles of marketing research 20
2.3.4 Objectives of marketing 22
2.3.5 Importance of marketing research 22
2.3.6 Marketing research methods 23
2.3.7 Sources of marketing research information 25
2.3.8 Steps in marketing research 26
2.3.9 Limitations of marketing research 29
2.4 Marketing research instruments 30
2.5 The role of marketing research department in soft
drink industry 31
2.6 Historical background of the Nigerian bottling
company plc, (NBC) 33
CHAPTER THREE
3.0 RESEARCH METHODOLOGY 35
3.1 Introduction 35
3.2 Research design 36
3.3 Area of study 36
3.4 Population of the study 36
3.5 Sample size 36
3.6 Sources of data 37
3.7 Instruments of data collection 38
3.8 Methods of data analysis and presentation 38
CHAPTER FOUR
4.0 DATA PRESENTATION AND ANALYSIS 39
4.1 Questionnaire distribution 39
4.2 Socio-economic data 40
4.3 General data 43
4.4 Test for hypothesis 46
CHAPTER FIVE
5.0 SUMMARY OF FINDINGS, CONCLUSION
AND RECOMMENDATION 56
5.1 Summary of findings 56
5.2 Conclusion 57
5.3 Recommendation 58
REFERENCE
APPENDIX
LIST OF TABLES
Table 4.1 Distribution of questionnaire 39
Table 4.2 Respondents age 40
Table 4.3 Respondents sex 40
Table 4.4 Respondents marital status 41
Table 4.5 Respondents educational qualification 41
Table 4.6 Respondents experience in the organization 42
Table 4.7 Respondents knowledge of marketing research
Activities in NBC plc 42
Table 4.8 The roles marketing research plays on NBC plc 43
Table 4.9 whether marketing research of activities of NBC
significantly aid marketing managers in
decision making 43
Table 4.10 Whether marketing research activities of NBC impacts
Positively on its profits 44
Table 4.11 Whether marketing research is costly 44
Table 4.12 Whether marketing research contributes more
significantly to product quality in NBC plc 45
Table 4.13 Marketing research and consumer satisfaction 45
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
The basic reason for this study is to examine marketing research as a tool for increased profitability in the soft drink industry, a case study of Nigerian Bottling Company, Plc. Owerri. The present age has been described as the information age, hence the boom and pervasiveness of information in the modern world. The need for correct and timely information is increasing in the turbulent and complex marketing environment. Marketing operates in an ever changing environmental condition which is capable of impacting positively or negatively on the objectives of an organization in the market place. The main objective of any business is to produce goods that will satisfy the needs of its customers and of course, this will be done at a profit. It is a truism that no business organization can survive in a competitive and adverse economy without information. Presently buyers or customers are becoming more sophisticate and discriminating Kotler, (2003).
These conditions are making it difficult for firms to survive and are compelling them to be more discerning in the facts data on which they base decision that affect customer patronage. In the absence of relevant information, customer’s response to
marketing programs cannot be predicted reliably or accurately or accurately. Good marketers need timely, accurate and actionable information about customers, their purchase behavior, competition and their brands which in turn will yield profitable return to management. Consequently, a marketing manager in order to survive and achieve their objectives has to imply some of the laid down scientific or modern techniques (Ejiofor, 1998).
Business today demand that planned and defined system and tools be formulated and adopted to meet organization’s requirements and of such tools is marketing research. Good marketing research is a cornerstone of sustainable marketing operations. In the long-run, poor marketing research practices results in low profitability, unsatisfied customer, low productivity, low product quality and poor decision making. Marketing research, according to Kotler (2003), is the systematic design, collection, analysis and reporting of data and finding relevant to a specific marketing situation facing the company.
According to Cannon, (2003)., defined marketing research as the function which links the consumer, and public to the marketer through information used to identify and define marketing opportunities and problems; generate, refine and evaluate marketing actions; monitor marketing performance and improve understanding of marketing as a process.
Ejiofor (1998) postulated that marketing research is “a tool commonly used for collecting an up-to-date information capable of reducing the uncertainties often standing in the way of the business scientists attempting to apply scientific solution to scientific business problem”.
Nwokoye (2000) stated that marketing research provides valuable information for the planning of the marketing mix. He further stated that research reveals the product features that are popular, reveals retail outlets that can favour the buyers are likely to be reached. From the above definition, it can be deduced that marketing research is a scientific tool used in identifying opportunities for profitable growth, understanding customer experience and behaviour, identifying and realizing innovation opportunities.
The marketing environment is changing at an accelerating rate, so the need for real time market information is greater now than at any other time in the past. To predict buyer’s responses to different features, styles and other attributes, businesses must turn to marketing research. As businesses increase their use of branding, product differentiation, advertising and sales promotion, they require information on the effectiveness of these marketing tools on the profitability of their business (Kotler, 2003).
It is against this background that the researcher believes that the study of this nature is necessary.
1.2 Statement of the Problem
As already stated, that marketing operates in an ever changing environmental condition which is capable of impacting positively or negatively on the objectives of an organization.
Today, it is nearly impossible to efficiently sell a product without having conducted market research. This need for marketing research is derived from the concept that it is only by understanding the needs and wants of the target market and by effectively meeting them, you will be able to achieve the organizational goals and surpass the competition in the specific market. Good ideas and good products are not enough; a variety of factors can prevent first-class concepts from becoming profitable businesses. Unfortunately, most firms in Nigeria have ignored the place of marketing research in their business operations. This is because they do not understand the role and impact that marketing research could have in the organization long-run benefit.
Despite the large market potentials in the product/service industry and it competitive nature, many businesses still find it difficult to develop an appropriate offering that will serve the market satisfactorily. Most often, innovations and changes in the industry are not properly assessed to know if there is a market demand for their products; thus resulting in low productivity. However, the above stated problems prevail in most business organizations because of inadequate marketing research information arising from poor research and development and lack of competent and development department in most organizations.
There is no doubt that there are remarkable consequences of ignoring the place of marketing research in any business operation. Consequences could range from unsatisfied customers, low return on investment, low productivity, and poor decision making by organization managers to business failure Levitt, (1990).
Therefore, a company may have good innovation, well equipped plant and office facilities strategically located and good promotion activities but if it has no place for effective marketing research, then the whole effort used in putting the other factors in place has been wasted.
It is in the light of the above problems that the researcher seeks to evaluate marketing research as a tool for increased profitability in any business organizations using Nigeria bottling Company as the study organization.
1.3 Objectives Of The Study
The major objective of this study is determine how marketing research aids marketing managers in decision making. The secondary objectives includes;
i. To determine if marketing research significantly aid marketing managers in their decision making.
ii. To ascertain if marketing research significantly contributes to customer satisfaction in Nigerian Bottling Company Plc.
iii. To determine the impact of marketing research on the profitability of the organization (NBC).
iv. To determine if marketing research significantly contributes in improving product quality in Nigerian Bottling Company Plc.
1.4 Research Questions
The following research questions guided the researcher in this study;
i. Does marketing research significantly aid marketing managers in decision making?
ii. How does marketing research contribute significantly to customer satisfaction in Nigerian Bottling Company Plc?
iii. What is the impact of marketing research on the profitability of Nigerian Bottling Company Plc?
iv. How does marketing research contribute significantly in improving the product quality of the organization (NBC Plc)?
1.5 Research Hypotheses
The following research hypotheses was developed to assist researcher in this study;
H01: Marketing research activities of Nigerian Bottling Company Plc. does not significantly aid marketing managers in their decision making.
Ho2: Marketing research does not contribute significantly to customer satisfaction in Nigeria Bottling Company Plc.
Ho3: Marketing research activities of Nigeria Bottling Company Plc does not impact positively on the profit of the organization.
Ho4: Marketing research does not contribute significantly to product quality improvement in Nigerian Bottling Company Plc.
1.6 Significance of the Study
It is expected that at the end of this study, company managers, directors, marketers and other users of marketing information will come to understand the importance of marketing research.
The study will also help the management of business organizations to draw-up strategies and programmes which will enable them to remain competitive and as well as help to enhance their decision making.
The management team of Nigeria Bottling Company Plc. as well as other related companies would find this work useful and reliable. Since the work seeks to fill the gap in the knowledge that occur in better utilization of marketing research, it will be useful to future researchers, the academic world and general public.
The research work will also help organizations to understand more correctly the basic principle of marketing research and its place in the manufacturing industry so as to influence marketing operations.
1.7 Scope of the Study
The study takes a look into the marketing research activities of Nigeria firms with Nigerian bottling company plc being the study organization. Efforts are made to ensure that all marketing research components and tools will be detailed so as to determine how proper implementation of marketing research programmes could lead to the realization of the firm marketing and promotional goals.
1.8 Limitations of the Study
In the course of this study, the research encountered a number of problems and limitation as shown below:
Time Constraints:
The time required for the completion of the study is limited and not long enough to enable the researcher carry out an elaborate study on the topic.
Finance:
The researcher had limited financial resource to enable her expand the area of study. Thus, the study was to one company in Owerri.
1.9 Operational Definition of Terms
The following operational terms are defined as they apply to this study:
Marketing: Marketing is the performance of business activities that direct the flow of goods and services from producer to consumer or user in order to satisfy customers and accomplish the firm’s objectives.
Marketing Research: Marketing Research is the function which links the consumer and public to the marketer through information used to identify and define marketing opportunities and problems; generate, refine and evaluate marketing actions; monitor marketing performance and improve understanding of marketing as a process.
Marketing Information Systems (MIS): Marketing information system is de fined as “an interacting, continuing future oriented structure of people, equipment, and procedure designed to generate and process an information flow to aid managerial decision-making in a programme”.
Market Share: this is a percentage measure of the share obtained by an individual company from the total market available.
Market: This refers to a set of actual and potential buyers of a product. It is also defined as people with needs to satisfy, money to spend and willingness to spend it.
Product: Product is a set of tangible and intangible attributes assembled in an identified form. It also refers to anything that can be offered to a market for attention, use of consumption. It includes physical objects, services, personalities, place, organization and ideas.
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