THE ROLE OF MARKETING STRATEGY IN DETERMINING CONSUMER PURCHASING BEHAVOUR
ABSTRACT
Marketing function performance entails matching consumers’ requirements and desires with appropriate products and services. It is the form’s responsibility to implement an effective marketing strategy in order to attract people to its products, and it is widely assumed that marketing strategy influences consumer purchasing behavior. This project thus attempts to investigate how the use of marketing strategies has generated sales for Hardis and Dromedas Plc as a result of the impact on consumer purchasing behavior. Efforts are also made to demonstrate the relationship between sales turnover and the amount spent on marketing activities. The project work is separated into five chapters that transmit the introduction, literature review, and research methodology, analysis of result findings, recommendation and conclusion, and limitations of study might help to achiever greater sales using marketing strategies. In all special attention is paid to both the company sales record.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Marketing is the only corporate activity or function that is as concerned with the consumer and his purchasing habits. Marketing is inextricably linked with research into purchasing behavior, namely what customers want, need, prefer, and value, who prospective consumers are and where they reside, their income and spending habits, how and why they make purchase decisions, and so on. In reality, influencing customer behavior is the core responsibility of any organization’s marketing department.
Similarly, marketing strives to define the proper type of product in terms of the company’s aim and attempts to make it available at the right place, at the right price, and with the right promotions.
The performance of marketing functions is essentially matching consumer desires with the proper products and services. It is the firm’s responsibility to develop an acceptable marketing plan to attract customers to its products. This is significant because, in a free market economy, the customer is the final arbiter of corporate success.
Customer purchasing behavior will decide the enterprise’s face. This behavior can best be explained by a marketing manager, who can also tell how he will be influenced by market variables such as pricing and promotion. Place and product (variation and distribution).
Marketing strategy depicts the overall company program for selecting a particular market segment and then satisfying it’s consumers through careful use elements of the marketing mix-product, price, distribution and promotion effective. Marketing requires decisions that
successfully integrate a form marketing place program towards satisfying the consumer whose act in obtaining and using goods and services, including his decision process that precede and determine those acts are highly affected by the strategy adopted by the marketing manager in marketing the firm’s products.
Since the performance of marketing function involves basically marrying consumers needs and wants with the appropriate products and service and since it is generally believed that marketing begins and ends with the consumer, this project therefore attempt to examine how the use of marketing strategies have generated sale for Hardis & Dromedas Plc following it’s impact on consumer purchasing behaviours. Efforts will be made to demonstrate the relationship between sales turnover and the amount spent on marketing activities, as well as the impact on consumer purchasing behavior. Attention will also be paid to determining how a forms strategy for achieving marketing objectives and plans influences consumer purchasing behavior. Hardis & Dromedas PLC will be given special consideration.
1.2 STATEMENT OF THE PROBLEM
This is regarded as the first and most important step in conducting research. The researcher seeks to define or describe the research problem at this point.
The basic goal of most businesses is to create a profit. This is because profit assures business development, survival, and continuation. Several organizations, such as Hardis and Dromedas PLC, know this truth; nevertheless, many businesses fail to recognize that achieving this aim is dependent on their capacity to meet the needs of marketing strategies; after all, a fundamental task of marketing is to influence customers.
As a result, the following issue will be investigated in this study.
(a) Hard is & Dromedas PLC’s marketing techniques
(b) The extent to which sales strategies are implemented in this organization.
(c) Basically, the impact of these methods on consumers will be examined by determining who is influenced to purchase the company’s products.
1.3 OBJECTIVE OF THE STUDY
The purpose of this research is to explore and determine the marketing methods used by Hardis and Dromedas PLC. Will examine the many elements of marketing strategies and discover how this company uses them to attract and retain clients, as well as how this firm uses them to determine how to compete favorably in the industry and profit. This research will also attempt to establish the marketing approach employed by Hardis and Dromedas PLC in its operations in order to achieve corporate/marketing goals and move consumers of Hardis and Dromedas PLC products.
In addition, I will attempt to identify the key issue related with the execution and application of the marketing plan in this organization. I’ll provide some alternative methods to assist remove or decrease these issues.
This research also aims to bridge the gap between classroom theory and the realities of industrial practice, particularly in marketing and consumer purchasing behavior. In this vein, it is hoped that this small effort would pique the interest of other young professionals, managers, and marketing policymakers in researching the relationship between marketing techniques and consumer purchasing behavior, thereby harmonizing the interests of consumers and producers.
1.4 RESEARCH QUESTIONS
This study project aims to answer the following research questions.
(i) What are the techniques employed by Hardis and Dromedas PLC to influence consumer purchasing behavior?
(ii) How does this company detect the factors impacting consumer purchasing behavior?
(iii) What are the issues related with the implementation and usage of these strategies in this company?
(iv) Does a cheap price necessarily imply bad quality?
(v) Would you prefer to be consulted before she produces her products?
(vi) Can advertising persuade you to purchasing product you did not really want.
1.5 SIGNIFICANCE OF THE STUDY
Because the adoption of good marketing strategies results in satisfaction for both the procedures and the consumers, it can be claimed that there is a need for companies in Nigeria to strengthen their market orientation.
Businesses must recognize the importance of strategy planning in the provision of goods and services in order to assure guaranteed profitability. Excellent tactics result in decreased costs, cheaper prices, and prompted recurring purchases from customers. This way, the producer achieves their goals and objectives, while the consumer receives essential goods and services at reasonable costs. As a result, the focus of our research is on the current condition of circumstances.
The research is also carried out in the aim that the findings would help marketing professionals understand, accept, and use knowledge of consumer purchasing behavior in addressing marketing difficulties.
Again, it is hoped that the study and recommendations will be beneficial to the Hardis and Dromedas PLC marketing department in particular, as well as the entire industry as a whole. It will contribute to determining the strategies required for effective marketing and will enable firms to serve their customers more effectively and efficiently. If the research is successful, it will be a worthwhile contribution to the integration of functional specialization (marketing), which is critical in today’s business world.
1.6 SCOPE OF THE STUDY
metropolis to see where it stands in the market.
Given the cost and time constraints involved in this type of study, it became necessary to limit the scope of the study to one hundred and fifty consumers in Enugu city, as well as one company. Choosing one company will minimize and reduce the need for comparison research because the elements in a marketing plan are identical to all enterprises, therefore I will focus on the marketing mix, which includes product, pricing, promotion, and location. They will use to see how they relate to one another and how they may work together to persuade buyers of hardies and Dromedas plc products.
Similarly, the concept of consumer purchasing behavior will be examined using data gathered from consumers of Hardis and Dromedas plc product with Enugu metropolis to see it place in the market.
1.7 DEFINITION OF TERMS
There are probably as many definitions of marketing terminology as there are of marketing phrases. In real life, it is impossible to come up with a full definition of any term, particularly in the social sciences, that can resist total universal approval; therefore, it is feasible to construct operation or functional definitions for the important ideas or phrases utilized in this study.
DEFINITELY MARKETING
Kotler and Keller (2006:5) define marketing as an organizational role and a collection of processes for developing, conveying, and delivering value to customers, as well as maintaining customer relationships in ways that benefit the organization.
STRATEGY
This term borrowed from the military refers to the systematic approach commanding officers charged with a military action wishers to employ in discharging his responsibility.
According to Adirika etal (1996:259) He point out that strategy is grand design for getting where by our objectives. We have stated we want to go. It is battle phitm used out of marketing elements.
1.1.7 MARKETING STRATEGY
In establishing an initial marketing plan for a new product based on the product concept, according to Philip kotler and Gray Armstrong on principle of marketing 13th edition, (2004). They went on to say that this is divided into three sections, the first of which describes the target market, the second of which is the projected value proposition, and the third of which is the sales, market share, and profit goal for the first few years.
The term also recommended several aspects to consider while choosing a marketing plan for a product. These factors are as follows:
(1) Business Analysis: A assessment of a new product’s projected sales, costs, and profits to determine whether these aspects meet the company’s objectives.
(2) Product development: transforming a concept into a tangible product in order to secure a viable marketing proposition.
(3) Test marketing: The stage of new product development during which the product and marketing strategy are tested in realistic market situations. While using test marketing, the following approaches are available to pick from – standard test market. Test market under control. In addition, the test market was stimulated.
(4) Commercialization: This simply refers to the introduction of a new product into the market.
According To Comfit Etal (2001)
Marketing strategy is defined as the generic terminology used to describe the total firm program for selecting its consumers through careful use of the marketing mix elements. Marketing Mix: According to Abdalmajid and Lionel (2004), marketing mix is the promotion of a product, particularly advertising and branding. But, in professional usage, the term has a broader connotation, recognizing that the marketing mix is consumer centered. Products are frequently developed to fulfill the wants of groups of customers or, in some circumstances, specific customers; they then divide the marketing mix into seven main sets of activities, which include.
Price promotion, product, location, method, people, and physical proof are all examples of price promotion.
Schiffman and Kanuk (2007:3) They define consumer purchase behavior as the behavior that customers exhibit when searching for, evaluating, and disposing of products and services that they believe will meet their needs.
PRODUCT
According to Kotler and Armstrong (2005:276), a product is something that can be supplied to someone to satisfy a need or want.
For the purposes of this study, product refers to anything Hardis and Dromedas PLC has to offer in terms of want or need fulfillment.
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