PROMOTION: AN EFFECTIVE MARKETING STRATEGIES IN BUSINESS ORGANIZATION IN NIGERIA
ABSTRACT
An organization that does not connect with the public is far from achieving its goals, which is why the duties of marketing managers have been reorganized in corporate organizations. Promotion can be seen of as a process or a means of communication. The purpose of the essay is to examine promotion strategy, issues, and solutions in Nigeria utilizing Zertech Nigeria Limited’s Maya as a case study. The information for this study was gathered through the use of questionnaires, and the percentage technique was used to analyze it.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
How well known a company is to the general public determines how successful the company will be. The significance of promotion as a component of a marketing strategy may be dated to the time when marketing was first understood or organized by individuals or groups of individuals. Although there were attempts made prior to the development of marketing strategy to merely satisfy consumer requirements, wants, and aspirations, all of these initiatives proved unsuccessful. Several of these methods date back to the industrial revolution, when there was widespread misery. People developed a variety of occupations during the 1900s to support their way of life, with subsistence farming, hunting, and other activities being some of the first they were dependent on their output.
The observation of this pattern eventually gave rise to barter trading, in which things were traded for services and vice versa, although this method did not satisfy the needs of the populace. Following this period, many people began to realize this, which sparked the manufacture of commodities for the entire population. The necessity to increase the demand for goods and services has led to the majority of corporate organizations realizing the value and function of marketing inside their businesses. This can be accomplished by recognizing, anticipating, and addressing the needs of consumers’ profitability. And all of these things can be accomplished with any promotional instrument, i.e.
i. Publicity
Sales promotion is option number two.
iii. Advertising and publicity
iv. Setting in one’s own home
The majority of marketing professionals now understand that they work in a cutthroat atmosphere where every business is vying for success. Although most businesses utilize sales promotions as promotional strategies, they should never be employed alone because they offer transient rewards. We now need to consider what might occur as a result of this incentive. Competition will undoubtedly increase, so to meet their aims and objectives, many firms have embraced the promotional mix, which is the best mixture of promotional materials. Promotion is a method of communication that has played a significant part in the functions of marketing managers have been reformed in corporate organizations in Nigeria, especially Zertech Limited, because a company that does not communicate itself to the public is distant from achieving its goals.
Although all promotion is communication, not all communication is promotion. For this reason, most commercial organizations in Nigeria view promotion as an efficient marketing approach since it offers information that draws customers and influences their behavior.
1.2 STATEMENT OF PROBLEMS
Promotion has always been thought of as communication that informs both customers and sellers. Owing to the intense competition, most manufacturers are required to promote their products, yet despite the numerous strategies adopted, most businesses still fail to meet their objectives.
1.3 PURPOSE OF THE STUDY
Several tools have been seen as being used to implement promotion. The resources include things like public relations, personal settings, PR, and sales promotion. Nonetheless, the main purpose of these tools is to boost the organization’s product sales. Nonetheless, the effects of all marketing strategies or Zertech Limited will be evaluated in this course of research. Additionally, a tactical analysis of Zertech Limited would be used to assess consumer responses prior to, during, and after the promotion.
1. To understand the functions that promotion has performed at Zertech Limited
2. To know the sort of promotional mix utilized by Zertech Limited
3. To demonstrate that none of the promotional methods can be used to boost sales on their own
4. To understand which marketing strategies create sales for Zertech Limited
5. To evaluate how beneficial Zertech Limited’s promotion has been.
6. To understand how effective promotion is in a commercial setting.
1.4 SIGNIFICANCE OF THE STUDY
i. The study will provide marketers and economists with knowledge on more efficient marketing tactics.
ii. The study will educate corporate groups on the benefits of promotion
iii. The study will assist in eradicating the false perception of promotion.
1.5 RESEARCH QUESTIONS
1. How much of the general population is aware that Zertech Limited exists?
2. What is the attitude of the public following the organization’s promotion?
3. To what extent has promotion been advantageous to the company?
4. In what way does the organization engage in promotional activities?
5. What are the issues with the marketing methods that are being used?
1.6 SCOPE OF THE STUDY
This study is restricted to the effects of various promotional tools on all Zertech Limited goods, including those for public relations, advertising, and personal selling. and how customers respond to various promotional tools. Moreover, the marketing managers’ opinions on using any promotional methods. The definition of promotion as a successful marketing strategy is covered in the first chapter. It includes the meanings of tray words.
– the description of the research problems.
– the study’s limitations
– the size of the research project
– the study’s purpose, according to Zertech Limited
The following chapter is a literature study that in-depth explains the idea of promotional tools and the purposes of marketing as a whole. The third chapter provides an explanation of the methodology, population and sample techniques of data gathering, and issues that were encountered. The display of data, analysis of data, and interpretation of data are the topics of the fourth chapters. The study’s summary, conclusion, and suggestions are covered in the final chapter. The impact of marketing techniques on commercial organizations in Nigeria is the main topic of the study.
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