ASSESSING PROMOTION AS A MARKETING TOOLS IN A COMPETITIVE MARKETING ENVIRONMENT
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BACKGROUND TO THE STUDY
AGGRESSIVE PROMOTION AS THE INSTRUMENT OF COMPETITIVE IN THE MARKET
The need for promotion is based on the fact that in a marketing environment, strong competition is becoming the order of the day for marketers to attain corporate objectives of consumer satisfaction at a profit.
According to Kotler (1997), Marketing can be defined as managerial or corporate activities that identity the needs and wants of consumer at organization goals.
An adequate promotional objective must be set and rigorously pursued for sound performance.
Any firm existence depends majorly on the ability to manage its environment, in the face of strong competition and one of the major instruments being used which is the outstanding strategy which cannot be undermined.
The promotion can come as a result of situational analysis of the competitive environment, competitive advantages of firms targets and advance and communication medium.
The promotional method used and extend of promotion is essential to this study, therefore it intends to examine the different promotions and promotional strategies that can be used to attain this objectives.
The function of Unilever Nigeria Plc as the case study of the proposed study would be examined with a view to identifying the latest development and the present competitions that is going on among them and its problems and recommending ways of solving these problems.
1.2 STATEMENT OF PROBLEM
The problems this study intends to solve are the problems of irregularity and inconsistency in promotional activities such as over pricing in promotional activities, environment issues in competitive market.
This study will pin-point uncontrollable and controllable factors that affect the promotional tool in marketing environment.
Finally the improper counter-attack of the language used in promotion by other competitors in carryout their promotional activity will be analysis by this study.
1.3 AIMS AND OBJECTIVE OF THE STUDY
A company may have the best designed product, the most system of distribution and the fairest price, but the company’s product will not sell If the customers are not aware of its existence.
Hence, promotion is a critical element in any marketing strategy, since proper promotion sustains the other controllable variable:
The impact of promotion in a firm is what the study seeks to portray in the use of Unilever Nig Plc respectively in the face of strong competition in line of markets.
This study intends to identify the problems and limitations of effective promotions in the face of competitions in the market.
This study also seeks to know the different competition that is going on in the market and ways of application of promotion and the right time to adopt a particular promotions and the target audience at the market.
This study hopes to cover the various promotional approaches that the firm can adopt in a competitive marketing environment.
So as to achieve a significant result in al the promotional activities.
Additionally, this study also focused in promotional activities like communication.
The major promotional objectives are to inform, persuade and to effect the potential consumer knowledge and attitudes about a product in the face of aggressive promotions.
The study finally will make recommendation which if implemented will go a long way in providing the functions of promotions in a competitive marketing environment.
1.4 THE SIGNIFICANCE OF MARKETING
Marketing is very important to the success of business since it contributes greatly to the growth of organization. Production and distribution depends largely in market.
Marketing covers advertising, promotion, publications, personal-selling and sales. It is the process of introducing and promoting the products of Unilever and facilitates intention purchase of the product by consumer.
The goals of marketing is to make the product or services widely known and recognized to the market, marketers must be creative in the marketing activities in the competitive market of nature business getting the products noticed and accepted by the potential buyers.
There are various types of marketing approach this are personal selling, face to face contacts, radio broadcast e.t.c.
Marketing helps to boost product sales apart from public awareness about company products and services it helps to boost sales and revenue growth.
The following are the importance of marketing to an organization:
* Marketing builds company reputation
* Marketers aims to create brand name recognition and products recalls.
* Marketing facilitate buying intention of the consumer purchase
* Marketing builds an understanding relation between customer and organization
TO THE SOCIETY
The society comprises both controllable and uncontrollable factors. Controllable factors are internal elements and uncontrollable factors are competitors, customers, government, weather and forces, all these factors are determinant to the success of an organization.
Society is always very sensitive in response to certain products because they believe in purchase power.
Promotion drive facilitates purchase intention of society to patronize the product.
Vulnerability of environment needs constant promotion to facilitate the customer purchase.
The following are importance of society.
a. It will help the society to know newly introduced product
b. It will increase their knowledge about uses of product.
c. It will allow the society to differentiate the competitors product.
d. It will educates the buyers about new product.
e. It will also be an incentives opportunity of getting free and at discount rate.
THE SIGNIFICANCE TO RESEARCHER
The writer will benefit from the project because it will be an exposure and the writer will know promotion programmes.
It will also improved students skills and knowledge about promotional activities.
It will improve student practically aside class room work.
THE SIGNIFICANCE TO CASE STUDY
This research will be importance to the company Unilever Nig Plc in the following ways.
a. It will increase the profit margin of the company
b. It will increase the growth and stability of market share
c. It will allow the company to demonstrates its new products to the customers and potential buyers
d. It will improve the production and sales volumes of the company products
e. It helps the company to keep relationship with existing customers and new customers.
f. It helps the company to know the grievances about already used product and improve on the complains
g. It will helps the company to modify a products and introduce new ones.