AN EVALUATION OF MARKETING STRATEGY AND ITS EFFECT ON ORGANIZATIONAL PRODUCTIVITY

AN EVALUATION OF MARKETING STRATEGY AND ITS EFFECT ON ORGANIZATIONAL PRODUCTIVITY

CHAPTER ONE

INTRODUCTION

1.1    BACKGROUND OF THE STUDY

In order to effectively, meaningfully, and sustainably serve targeted groups through the development of appropriate marketing strategies, businesses need to be competitive. market seriousness in the present business environment is a consequence of how well organizations can plan and carry out procedures, yet seriousness may likewise impact the personality of the company’s chosen system (Hopkins 2009). Particularly, advertising has been viewed as an administrative function rather than a primary organizational capability. It focused on options determined by market research, selecting a target market, product and brand expansion, promotion, and distribution strategies (Dwyer, 2009). This may, to some extent, present a one-sided perspective as an obligation to develop, advance, and transmit superior administrative to businesses and customers (Hopkins, 2009). According to Nwosu (1996), it is common knowledge that maintaining a stable customer base among a company’s current customers is more cost-effective than acquiring a new client. It makes it abundantly clear that businesses require increasingly high levels of customer management. An organization’s commitment to particular goods, markets, customers, competitive strategies, and methods of business operation is known as a strategy. Organizations that respond strategically to competition improve their business performance and are better able to maintain their competitive edge over those that do not (Kotler, 2003). A responsive work organization based on cooperative relationships with internal and external partners, such as customers, suppliers, and rivals, should set the companies’ strategies apart. For establishing a long-term competitive advantage, flexibility and adaptability are also essential management concepts, and successful businesses incorporate them into new organizational plans. As a result of the industry’s new globalization, businesses now see internationalizing their operations as a specific way to survive. Marketing strategy is now an essential and comprehensive tool for any business’s continued economic focus and expansion.

1.2 EXPOSITION OF THE PROBLEM Marketing with a clear focus on the market is becoming increasingly important for the business on all fronts (Kotler, 2003). Marketing strategies have been the subject of heated debate in countries ever since the 1990s because customers have become increasingly demanding of businesses in their fields while simultaneously focusing on issues (Baker, 1995). To communicate the expectations of a previous customer, a market-driven cumulative effect capacity to support process operations is used. Customers who use a particular product on the market are more likely to be satisfied with their purchases in the future because of marketing strategies that work. Showcasing methodologies that have been very much planned and executed play played huge parts in the progress of organizations in Nigeria. To ensure that its operations are effective and efficient, any business that wants to expand its marketing efforts needs to have solid marketing strategies. If these strategies are used correctly, they should help the company achieve its stated goals and objectives while also increasing sales and profitability. It was demonstrated that the strategy of building strong relationships with customers could coordinate the welcomes of rivals and provided a significant competitive advantage (Dwyer, 2009). Marketing strategies are unquestionably helpful in increasing organizational productivity, but do they work and are they effective?

1.3 OBJECTIVES OF THE PROBLEM The primary goal of this research is to assess the impact of market strategies on organizational productivity. The following are additional study goals:

i. To investigate the reasons behind the ineffectiveness of the organization.

ii. to investigate the various marketing strategies that boost productivity within an organization.

iii. to figure out how much marketing strategies affect how productive an organization is.

1.4 RESEARCH QUESTIONS This study will address the following research questions.

i. What causes an organization’s lack of productivity?

ii. What kinds of marketing techniques are utilized to boost productivity within an organization?

iii. How much is the impact of promoting systems on hierarchical efficiency?

1.5 SIGNIFICANCE OF THE STUDY This study will be significant to businesses because its findings will demonstrate how marketing contributes to productivity. The marketing industry will benefit from this study as well because they will be aware of the various marketing strategies that can be used to promote organizational productivity.

It will also be used as a literature review by future researchers. This means that other students who might decide to study this topic will be able to use this study as a source of relevant literature for critical analysis. The study’s findings always add a lot to the body of knowledge on paternalistic leadership styles and how they affect relationships in the workplace.

1.6 OBJECTIVE OF THE STUDY The evaluation of the effects of marketing strategies on organizational performance will be the primary focus of this study. Additionally, it will examine the various marketing strategies that are utilized for organizational productivity, as well as the extent to which marketing strategies affect organizational productivity.

The NASCO group of companies’ management and employees, Jos, as enrolled survey participants.

1.7 LIMITATIONS OF THE STUDY The scope of this investigation will be restricted to assessing the effects of marketing strategies on organizational performance. It will also focus on the reasons for an organization’s lack of productivity, the various marketing strategies that are used to boost productivity, and the extent to which marketing strategies affect productivity.

The management and employees of the NASCO group of companies, Jos, participated in the survey. As a result, the findings of this study cannot be used in any other context until additional research is conducted.

Last but not least, the researcher ran into a few roadblocks while conducting this study, including time constraints, financial constraints, language barriers, and respondents’ attitudes. The researcher, on the other hand, was able to control these to guarantee this study’s success.

1.8 TERMS DEFINITION Evaluation: is a methodical evaluation of a subject’s importance, worth, and merit based on a set of standards. Marketing strategy: a method that can help an organization focus its limited resources on the best opportunities to boost sales and establish a long-term advantage over its competitors. the capacity of a company, institution, or organization to achieve desired outcomes with the least amount of effort, time, money, personnel, or other resources.