THE IMPACT OF MARKETING RESEARCH ON SALES AND PROFIT IN THE MANUFACTURING INDUSTRIES

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THE IMPACT OF MARKETING RESEARCH ON SALES AND PROFIT IN THE MANUFACTURING INDUSTRIES

CHAPTER ONE: INTRODUCTION

   1.0     INTRODUCTION

Marketing research is a chain of activities by which the demand structure of goods and services are managed effectively to facilitate the exchange process satisfactory.

In other words marketing research is a systematic design, collection and analysis and reporting of data relevant to a specific marketing problem for decision making purpose. This relate to a specific marketing problems for which absolute solutions are needed.

Kotler (2000). In practice, marketing research is usually concentrated on limited number of recurrent problem often on a continuous basis and covers areas such as marketing research, advertising research, marketing economic research etc.

Marketing research helps the firm in providing valid information on which decision are based. It is indubitable fact that a firm that is not involved in marketing research cannot give an accurate measure of its opportunities and threats in the environment. Although the gathering processing and costly a firm will be, making a great mistake, if it ignores those essential activities. Each problem demands a formal project to gather the necessary information in the most efficient way, thus, the need for marketing research.

1.1     HISTORICAL BACKGROUND OF THE CASE STUDY

The historical background of the Nigerian Bottling Company Plc (NBC) which is part of Coca-Cola was incorporate as a private company in Nigeria in November, 1951 by chief A. G Leventis of blessed memory. The Nigeria Bottling Company Plc incorporated in 1951 in Nigeria to bottle and sell carbonated and non-alcoholic beverage.  The company was given the sole power to bottle Coca-Cola products in Nigeria Coca-Cola product line in Nigeria includes carbonated (CSD) and non-carbonated (non-CSD) soft drinks juices, water, sports and energy drinks and ready –to-drink beverages such as tea and coffee. The production of coca- cola began operation in 1953 at a bottling facilities in logos and now plants in Kano, Port Harcourt and Ibadan were opened shortly afterwards. In 1972, the Nigerian Bottling company plc,(NBC) became a public company with its shares listed on the floor of the Nigerian stock exchange (N S E).

Nigeria Bottling Company PLC (NBC) head office in Nigeria is located at mainland Ebute Metta, Lagos.

The current chief executive chairman of the Nigerian Bottling Company Plc is Mr. Basgorun Alli Adebisi Adesanya; he took over the chairmanship of the Nigerian Bottling Company long ago when they had just five factories.

Reasons for the success of the Nigerian Bottling Company Plc are:

i)       The company has clear objectives.

ii)      Sincerity of the purpose and genuine intention to succeed in their business.

iii)     Retaining much of their profits every year to expand their business.

According to the Nigerian Bottling Company Plc annual report 2009, the company has over N50 billions as their working capital which is one of the reasons behind their success. The Nigerian Bottling Company plc is made up of many departments, some of them are; Administrative department, security department, personnel and human resources department, production department, Quality Assurance department, marketing department, etc. According to the Nigerian Bottling Company employs over 7,000 Nigerians in their field of operation.  

The historical background of Nigerian Bottling Company Plc will not be completed without trying to list some of their products: Coke, Fanta, Fanta Ginger, Fanta Tonic, Fanta Apple, Krest, Bitter Lemon, Eva water, Five Alive Juice, e t c. These products are sold in more than 150 countries including Nigeria.

1.2     STATEMENT OF THE PROBLEM

In anticipating the needs of the consumers, marketing managers are faced with a lot of problems such as that of the general economic situation of the market is beyond the control of the marketing managers.

They cannot therefore, manipulate it to their own advantage.

1. The problem does not give marketing research a total chance of operation in the manufacturing industry, which most firms in the manufacturing industries ignored the use of marketing research as one of the most important tools in marketing activities.
2. The budgetary expenditures on research activities is gross in adequate. In some firms a limited amount of capital is usually given to undertake research activities will definitely have negative effects on them final analysis and report also of the research activities are not provided . The more the personal involved, the more time necessary and resource for research activities will also increase in the number of personnel involved. This makes some firms to avoid marketing research exercise.
3. The bureaucracy involved in collecting secondary data from government agencies is rather cumbersome and in most cases, the data is outdated. The high illiteracy rate in the country is part and parcel of respondents to answer questions correctly
4. Wrong design of questionnaires and lack of facilities for conducting scientific marketing research is also a major problem been encountered by researchers during research exercise.

1.3     OBJECTIVES OF THE STUDY

The main objectives of the research work are as follows:

1. To study the impact and the validity of the application of marketing research on the level of sales and profits in a manufacturing firm as applicable to the Nigerian Bottling company Plc, Abuja.
2. To examine the needs of the consumers and to determine the impact of the marketing research on the consumers.
3. This research work is undertaken to fulfill one of the academic requirements for the award of National Diploma in Marketing.

1.4     SCOPE OF THE STUDY

Marketing research is very important to sales and profits of any manufacturing industry especially the Nigerian Bottling Company Plc.

For the purpose of this research work, the researcher will like to examine the impact of marketing research on sale and profit in a manufacturing firm as applicable to the Nigerian Bottling Company Plc. This research work is designed to covers the impact of marketing research on sales and profit,  evaluation of research effectiveness, and the limitations of marketing research  and the relationship between marketing research and marketing information. This research work is restricted to the Nigerian Bottling Company Plc Abuja.

1. LIMITATIONS OF THE STUDY

In the course of carrying out this research wok, marketing research, the researcher was faced with a lot of difficulties, some of these difficulties/ problems are:

1. The researcher in the course of this study was faced with various financial difficulties.
2. Time was another constraint that affects this research because of conflicts of time between when the researcher is free and when the respondents were free to attend to the researcher.
3. Constant fuel scarcity/shortage in the country was another limitation to this research work and the resultant increase in transport fares in most part of the country especially in Lagos and Nasarawa make it difficult for effective and efficient research work. Most respondents were uncooperative with the researchers as they believed that the study will not be of any benefits to them due to their previous experiences.
4. Uncompromising attitudes of some management staff of the Nigerian Bottling Company to present the researcher with relevant information which, according to them is official secrets.

1. STATEMENT OF HYPOTHESIS

In order to achieve the above mentioned objectives, this research work can be tested based on the following assumption using null and alternative hypothesis

1        H_O:    Marketing research assist organisation in achieving a better level of sales and profit.

H_I:    Marketing research does not assist organisation in achieving a better level of sales and profits.

2.       H_O: Marketing research assist companies to make use of their resources and opportunities

H_I: Marketing research does not assist companies to make better use of their opportunities.

1. SIGNIFICANCE OF THE STUDY.

This study is intended to provide the research units of Nigerian Bottling Company, Lagos with an insight into marketing research problems and a symptom to the problems. This research work is also intended to provide the necessary techniques which are expected to be employed to promote the sales in an organization through proper utilizing a careful research method.

Furthermore; it is intended to serve as impulse for incoming students, the pragmatic approach to the research techniques and scope for future research work.

1.8     DEFINITION OF TERMS

The section explains some of the words or terms which the researcher has come across in the course of this research work.

DATA: These are row fact about a phenomenon of a situation. Data can be primary or secondary.

MARKETING RESEARCH: This is the systematic gathering, recording and analyzing of data about problems relating to the marketing of goods and services. Source A M A (Reporting of Definition committee,1961).

BUREAUCRACY: According to Nwankwo (1999), defined bureaucracy as a kind of formal organization characterized by a complex administrative hierarchy, specialization of skills and tasks, prescribed limits on discretion set forth in a system of role, impersonal behaviours with regards to customers or clients, and separation of ownership and control.

QUESTIONNAIRE: A questionnaire is a printed form that contains questions as well as instruction for answers.

BUDGETARY EXPENDITURE: Budgetary expenditure is a quantitative expression of a plan of action prepared in advance of the period to which it relates. It may be prepared for the business as a whole, for departments, for functions such as sales and production, or for financial and resources item such as cash, purchases etc.

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