EXAMINING SALES PROMOTION AS AN EFFECTIVE MARKETING STRATEGY FOR SELLING CONSUMER PRODUCT
|BANKING AND FINANCE|
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|MS Word & PDF|
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1.1 BACKGROUND OF THE STUDY
The survival of any business organization depend to a very large extent on the patronage that it enjoys from those who consume its product thus, promotion means to push forward, to advance in idea in such a way as to gain acceptance and approval for it.
And also one the crucial components in the selling of the consumer product is promotion which is used in pervasion and communication which could either be form of advertisement personal selling’s, sales promotion, as a competitor in the market hope to influence as many consumers as possible to choose their product over alternative product.
Sales promotion is an effective strategy in an organization and is an important ingredient in most promotion program through which a consumers are persuade and convince to buy a product or service and commonly support by sales promotion this belief is strengthen by port (1996), whose work have attempted to spell out Experiment analysis of the theory of sales promotion in relation to consumption.
Also according to Ray Wild (years) promotion is concerned primarily with the persuasion gained largely at securing increasing the sale of the actual market prior to this study, the researcher was able to observe restriction in the use of sale promotion in consumer product effective in consumer product, however, this shows that the effective promotion strategies will diminish market effort.
While the presence of effective promotion strategies will bring about good performance on set goal as techniques of sale promotion is to complement and reinforce effort towards the achievement of set goal.
The sale promotion is an effective marketing strategy for selling consumer product. Need to identify their goals, plan, strategies and facilities within this limitation to reach those goal effectively execute their plan and evaluate their performance, the relevance of this paper to became obvious, its important to know the various promotional activities embark upon in selling of product and its effectiveness in the marketing of her product.
Promotion is an exercise aimed at information, persuasion and communication about a goals or services to potential consumers in a manner designed to illicit positive action.
Luck (1994) communication process to comprise communication message, media, production, it is still long sufficient to make a complete satisfactory product.
The potential customers must be told why it is so satisfactory. Sales promotion strategies can be development as a promotional goal.
Sales promotion can be defined as any marketing activities outside personal selling, advertising and publicity. Sales promotion is used as a compliment way to other promotional strategies and auction.
There are different classes of sales promotion namely;
Consumer promotion; this, aims at generating sufficient sales promotion for a particular product which includes lottery, free sample and cash and trade discount etc.
Introduction promotion: This is to increase sales or demand of industrial goods or product through quality trade discount, credit, sales, free sample and industrial exhibition etc.
Trade promotion: this encourage the channel of distribution to purchase the product or an organization, this can be accomplished by means of competition among middle men.
Sale promotion major objective among others is to enhance the sales of cut over of a company’s product which will bring about increase in the co-operation profit. Sales promotion strategy is a part of the overall marketing plan and is normally in conjunction with other strategies.
A price reduction for example would probably be supported with advertising.
A new product would be introduced by a sales promotion campaign, an expansion of the sale promotion.
The sale promotion is been tenancies of a market shares, the expansions of a territory.
The elimination of our lets. The promotional goal, the long serve the firm’s ultimate goal.
The long run of profit.
The sales promotion is a selling activities that co-ordinate advertising and personal selling into an effective persuasive force. It is claimed that sales promotion move buyer towards the product. Many sales promotion campaigns involve the use of incentive.
Incentives are something of financial nature added to an offer to encourage some over behavioral response.
a. Sample: To give out the sample free f charge to consumer.
b. Contest and Games: This desires to win easy monetary reward via games of chances is now spreading like wild fire.
c. Trade Shows Exhibition: This is where they will demonstrate the product in a different product.
1.2 STATEMENT OF THE RESEARCH PROBLEM
The researcher found it difficult to gather relevant information for the preparation of the project because of some difficulties, some of which were:
Relevance of superior officer to allow the researcher to some vita information needed for the project.
Questionnaire distributed to some member for sample where not returned.
Financial constraint on the part of the researcher, no much fund was available to enable the researcher to move around and acquire more relevant information.
Getting the staff list of salesmen from the marketing department, was a though task due to negative attitude of Nigerian to researchers.
The other difficulty was the aspect of getting people to answer the questionnaire because most of the time the work force were busy, but after much persuasion they cooperated with the researcher.
Time constrain on the part of researchers due to the nature of the program of hand.
1.3 OBJECTIVES OF THE STUDY
The research is mainly to examine the effectiveness of promotion in manufacturing industry by laying emphasis on BAGCO.
Since inception of poly propylene bag BAGCO, which started with just forty (40) Polypropylene bags to test the market, made history rapidly as a result of the innovated product.
The aims is also to determine the promotional activities implored by BAGCO for the purpose of this study and for other manufacturing industries.
Advertisement on television is one of the best medium.
The promotion is able to reach the target which makes them (target market) perceive the product in it tangible form; the popular jingle.
“BAGCO” super sac well don win” the advert reveals that it is sensible for industrial purpose.
The impact of the competition was also felt when they introduced something similar as “BAGCO” a sub standard product was not recites able.
This was noticed after five years of excellence performance (1996) by decline in sales but was tackled and ended by the marketing cure when they introduced massive distribution at every channels, the quality, future etic was improved upon and more sales forces where price for those who will not but in large quantity to eliminate the effectiveness of the competitors.
The research also made us to see the responsibility of demand elasticity.
It was demand for Barco was Zero and Inelastic perfectly unitary during the raining seasons which result in increase in price to equal to the same percentage in quantity demanded.
It is also important for its part of the requirement for the award of higher national Diploma in marketing in the department of marketing Kwara State Polytechnic, Ilorin.
1.4 SIGNIFIANCE OF THE STUDY
This study will assist in formulating effective marketing program in the manufacturing industry with the aim of improving customers’ satisfaction, importance of sales promotion at profit and close monitoring of the action of competitions. It is strongly believe that this research work will be readable and useful to all manufacturing company as a whole.