MARKETING MIX AS A TOOL FOR THE SURVIVAL OF A BUSINESS ORGANIZATION
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Generally, the society believes that marketing activities start from when the product is made. However, marketing is an all encompassing scheme, which start from when start from a products concealing to when such product is distributed to the customers. Marketing as a discipline starts from when a particular producers is beginning to think about, what the people need, after a careful analyze to thinks about the quality of the product (with reference to the customer’s taste).
The packaging material that would be suitable and attractive from such product to the consumers. All these facts started above can only be derived through marketing research. This research is normally carried out before and after the invention of new product. The producer cannot just introduce into the marketing is an important aspect he feel like producing such a product would be taking a big leap in the dark. To business formation and growth in even determine the survival of a company or an establishment.
Marketing mix is the mixing together of variable product, process, promotion and place in the right proportion that will enable the marketing product to the carried out in a successful manner anytime. Marketing mix focuses or what to produce in term of life cycle. For instance, it is possible for a manufacturer to start his business very well, taste for a particular product or services may change with time. What seems the best today may be rejected tomorrow. There is therefore an urgent need for the manufacturer to centrally reveal what the people (consumer) want (product) how they want such a product or service. They are willing to buy such product. This firm at all time must not disregard the existence of these competitors who have the tendency of marketing their own product better and more acceptable to the public for a business to thrive well and survive. Marketing mix is a time necessary that must be considered and use effectively.
HISTORICAL BACKGROUND OF THE NIGERIA BOTTLING COMPANY
The name Coca-cola was a pharmacist by name in John Perbetton. He was born in Atlanta Georgia, United State of America in the year 1833. The idea of Coca-cola was born in 1806 and he died in 1888. Immediately after his death, Mr. Asa Candler took over the business in the same year. Mr. Frank Robinson selected the Coca-cola trade mark and some other advertising materials which are still in use till date. The standard size 29cl bottle was designed and produced in I, 915 million dollars.
In 1923, Robert Wood RUFF took over the business presently; there are numerous bottling plants in United State of America while more than 35 percent plants are spread all over the West Africa. Coca-cola first came into inception in Nigeria 54 years ago. Nigeria Bottling Company set up the first plants in Lagos; it is today Nigeria’s number one bottle of soft drink selling more than 8 million bottles per day. A figure which is still growing with the continue expansion of the opening branches and mini branches in various parts of the country. In 1988 a new dimension was added to the bottling of coke, pet plastic coke, fanta, and sprite was introduced into the other six brands. Fanta, which is the fast orange, sprite is sold in lemon- lime segment action, others are tonic fanta, ginger and krest bottle lemon.
The success of coca-cola has brought with it, the development of quite member of sister industries, oil contribution in the economy growth of the country (Nigeria) They are delth Glass Company in ughali, which supplies empty bottle used for production in the company, the crown cork for the company’s use. The Benin Plastic Company which make crates for easy carrying of the bottles. In addition, the trucks which supply more than 70, 000 dealers are also assembled in Nigeria. The Company is also the largest manufacturers of C02 (Carbondioxide) used to carbonate the soft drinks. The company employed more than 25. 000 Nigerians in all fields of operations.
1.2 STATEMENT OF RESEARCH PROBLEM
Marketing concern itself with satisfying its customers at a profit, these activities are therefore, carried out with the aid of duct, place and promotion, which this project is set to look into product management. Product management is essential in marketing mix in order to ensure that a product matches the wants, needs and adjustment to meet market requirements. Many markets failures can be traced to the inability to manage the product effectively. In addition, pricing strategy being adapted by different company at every stage of production life is very important. For instance, at the very introduction stage, a lot of advertising and campaign strategies had to be adopted by the company to create awareness for the product in the local and international market, if such product is not properly introduced or addressed, it might die prematurely. There are some of the issue that business are failing to address, hence tending to business failure.
1.3 OBJECTIVES OF THE STUDY
The objectives of this study is to examine the reliability of marketing variable in the life success of any business establishment, these are the variables.
i. Product
ii. Price
iii. Promotion
iv. Place or physical distribution. With particular reference to Nigeria Bottling Company Plc, Ibadan Oyo State.
1.4 RESEARCH QUESTIONS
1. Is there any relationship between marketing mix and business growth and survival?
2. What are causes of business failure?
3. How can an enterprise make the best use of marketing mix?
4. In what ways can a careful analysis of marketing mix help to maintain survival and profitability of the business?
1.5 STATEMENT OF HYPOTHESIS
Ho: There is no significant different between marketing mix and business organization
Hi: There is significant different between marketing mix and business organization
1.6 SIGNIFICANCE OF THE STUDY
The significance of this study is to help throw light to the benefit arising from marketing mix. Better attitudes towards the organization will be enhanced through marketing mix. This research work will be useful to business organizers, researchers and students of the recommendations are rigidly to be followed.
1.7 SCOPE OF THE STUDY
The scope of this research focuses on impact of the marketing mix on the survival of the business organization in Nigeria Bottling Company Plc. And the way in which the NBC mixes the following variable, product, price, promotion and place so as to obtain the essential market shake.
1.8 LIMITATION OF THE STUDY
Since the study was extended to another town, the researcher encountered some difficulties which include the followings.
1. Transportation: – Since the study involved a lot of traveling many difficulties were encountered in the process of data collection
2. Poor Communication: – There are some problems on the part of people being investigated. There was communication problem, as some people would not understand the medium of expression i.e. English language.
3. Financial Constraint: – Financial constraints did not permit an extensive research work to take some were always on other field.
4. Time Constraints: – There was no sufficient time to carry out this research the researcher because of the workload.
1.9 BACKGROUND OF THE CASE STUDY
Blair (1960) sees product life cycle as an attempt to recognize describe the distinct stage in the sales history of a product. It attempts to identify the stage in which the product is heading so that better marketing plan can be made to get product through to the market. He identifies four stages for a new product, these are introduction stage, maturity stage, the growth stage and decline stage.
1.10 DEFINITION OF TERMS
Marketing mix: – This refers to the inter-related area of marketing strategies. There are product, price, promotion and place.
Marketing: – Institution of marketing (London) defines marketing as “the managing process which is responsible for identifying anticipating and satisfying customer equipment profitability.
Organizational Goal: – This is the seed of aims and aspiration of an organization demand to be achieved which has been laid down
Place: – These were all activities involved transferring goods from producers to final consumer(s) is carried out.
Promotion: – Marketing activities are communicating with members of targets marketing in order to create awareness of product or services and increase sides.
Price: –The amount of money which is needed to acquired exchange some combine assortment the product and accompany services.
Firm: –Amount of a particular good which a buyer is willing to buy at a particular price over a given period of time and place.
Competitors: –These are the counterparts of particular company selling the same or similar product