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- THE EFFECTS OF INTEGRATED GROUP BASED MASTERY LEARNING MODEL ON SOCIAL STUDIES STUDENTS’ ACHIEVEMENT
INTEGRATED MARKETING COMMUNICATION AND ITS EFFECTS ON SALES VOLUME (A Case Study of De - United Food Industries Plc)
This research project examine the effects of integrated marketing communication on sales volume. It also evaluate how consumer brand loyalty result in increase in sales volume.
A sample size of One hundred was drawn from the population. A hundred questionnaires were distributed randomly to stratified groups among the staff of De-United Food Industries Plc. Eighty five respondents duly filled and returned the questionnaires. A 5 - point likert scale was developed and validated to collect information from the respondents.
The data collected was analyzed with basic descriptive statistics such as frequency and simple percentages. Chi-square analysis was also made. The core findings from the results obtained show that
There is a significant correlation between Integrated Marketing Communication and level of sales, Integrated Marketing Communication promotes brand loyalty, and Integrated Marketing Communication increases consumer's awareness of a particular product.
Conclusion was draw from the summary of the result. Various remarks and recommendations were proffered to the organization of study
TABLE OF CONTENTS
1.1 Background of the Study
1.2 Statement of Problem
1.3 Objectives of the Study
1.4 Significance of the Study
1.5 Research Questions
1.6 Statement of Hypotheses
1.7 Scope of the Study
1.8 Limitation of the Study
1.9 Definition of Terms
2.1 The Concept of Marketing Communications
2.2 The Communication Process
2.3 The Objectives of Marketing Communication
2.4 Marketing Communication Mix
2.5 Marketing Communication Strategies
2.6 Developing an Effective Communication System
2.7 Integrating the Communication Mix
2.8 Evaluating the Effectiveness Of Communication
3.1 Research Population and Sample
3.2 Research Design
3.3 Data Collection Instrument
3.4 Administration of Instrument
3.5 Method of Data Analysis
3.6 Restatement of Hypotheses
DATA PRESENTATION AND ANALYSIS
4.2 Analysis of Personal Data Of Respondents
4.3 Analysis of Data
4.4 Test of Hypotheses
SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 Summary of Findings
1.1 BACKGROUND OF THE STUDY
Today's marketing requires more than just developing a good product, pricing it attractively, and making it available to target consumers. Companies must also communicate with current and prospective customers, and what they communicate should not be left to chance. All of their communications effort must be blended into a consistent and coordinated communications program. Just as good as communication is important in building and maintaining any kind of relationship, it is a crucial element in a company's efforts to build profitable customer relationship.
Several factors are changing the face of today's marketing communications. First, as mass markets have fragmented, marketers are shifting away from mass marketing. More and more, they are developing focused marketing programs designed to build closer relationship with customers in more narrowly defined micro markets. Secondly, the vast improvement in information technology are speeding the movement toward segmented market. The shift from mass marketing to segmented marketing has had a dramatic impact on marketing communications.
Just as mass marketing gave rise to a new generation of massmedia communications, the shift toward one - to - one marketing is spawning a new generation of more specialized and highly targeted communications efforts.
In the past years, many companies around the world have perfected the art of mass marketing - selling standardized products to a mass market. As a result, they have developed effective mass - media advertising techniques to support their mass- marketing strategies. These companies spent millions of naira in their mass media, reaching out to several millions of customer with a single advert. However, as we move into the twenty - first century, marketing managers face some new marketing realities which necessitated the need for an integrated marketing communication.
Don Schultz (2005) stated that integrated marketing communication "is the process of developing and implementing various forms of persuasive communication programs with customers and prospects overtime". The overall purpose being to build and maintain a long lasting relationship with customers by constantly keeping in touch with customers through adequate information on their products, market dynamics and communicating product benefits to prospective consumers.
Kotler and Armstrong (2008) defined Integrated Marketing Communication (IMC) as "a concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent, and compelling message about the organization and its products". Integrated marketing involves identifying the target audience and shaping a well - coordinated promotional program to obtain the desired audience response. It builds brand identity and strong customer relationships by tying together all of the company's messages and images. Brand messages and positioning are coordinated across all communication activities and media. IMC means that the company's advertising and personal selling communications have the same message, look, and feel as its Web site. Its public relations materials say the same thing as its direct mail campaign.
Carefully blended mix of promotion tools
It is therefore trite to say that for companies to thrive in this ever dynamic and increasingly complex and competitive business environment, an effective communication strategy must be developed which will involve a well coordinated communication channels that help in positioning the products of the company, and building a long lasting customer relationship.
1.2 STATEMENT OF PROBLEM
As the saying goes "He who fails to plan, plans to fail". Also, the ultimate success of a company depends absolutely on how effectively it can plan and use its available. Leveraging these resources is quite a challenge for many companies today.
The major problem associated with inadequate marketing communication is that the company's products are poorly exposed to current and prospective customers. As a result of this, many companies loose their customers to aggressive and forth rite - thinking marketers. This could be the reason why many companies, after a few years of launching, go bankrupt since they cannot sell their products.
Marketers fail to understand the fact that integrated marketing communication helps to enhance brand loyalty. Therefore all their communications efforts are done haphazardly - advertising and personal selling messages portray a different meaning.
Producers of goods and services often a time underestimate the importance of integrated marketing communication. Some will say it is a gross waste of resources, creating public awareness for a particular product. They fail to evaluate the correlation between communication budgets and the effect on sales growth.
Because customers differ, communications programs need to be developed for specific segments, niches, and even individuals. And given the new interactive communications technologies in the globe today, the problem facing marketers is not only, "How can we reach our customers?" but also, "How can we find ways to let our customers reach us?" Therefore, many companies find it difficult to develop a systematic communication process through which they can communicate to customers and equally get feedback from the customers. To communicate effectively, marketers must understand how communication works.
1.3 OBJECTIVES OF THE STUDY
The objective of the research work is to look at the effects of using integrated marketing communication tools no sales of goods using De - United Foods Industries Plc, as the case study. The research work will therefore consider the following:
v To examine the extent that integrated marketing communication brings about awareness for a particular product.
v To find out the impact of integrated marketing communication on sales of a product.
v To assess the effect of integrated marketing communication on consumer brand loyalty to a particular product or brand.
v To evaluate how consumer brand loyalty result in increase in sales volume.
v To find out if there is a direct relationship between integrated marketing communication and sales volume of a particular product.
v Lastly, the researcher intends to critically analyze how ineffective combination of marketing communication tools can lead to low sales and customer dissatisfaction.
1.4 SIGNIFICANCE OF THE STUDY
The objective of this study is also an attempt to articulate potentially accruable benefit that would result from a successful communication mix and therefore, answer the research questions that will arise later in this chapter.
The research will also alight all the elements of Integrated Market Communication (IMC) thereby, educating marketers on the communication process and how to integrate them to produce desired results.
It will also examine the impact of integrated marketing communications on the company's sales, the relationship between communication budgets and sales growth.
This research is of significance to business executives in that it provides adequate solution to the underlying problem of low turn over rate of products, and can help them to update or improve their technical skill for better performance.
It is also of academic significance because future researchers may use the findings here to update existing literature and building theories.
Practicing managers in organizations where Integrated Marketing Communication has been embraced may rely on the findings and methodology of this research to form a basis for their daily decisions.
Consumers and the society at large are also expected to benefit from the findings of this research. The findings will help consumers to appreciate the importance of the various communication tools as such tools or channel are engaged for their benefits- communicating product benefits, information on brand, packaging, prices and other product and market dynamics which help the consumers through the purchase decision process.
1.5 RESEARCH QUESTIONS
This research work will seek to answer questions related to problems that have been stated earlier on in this chapter. The questions are as follows:
RQ 1; To what extent does integrated marketing communication bring about awareness for a particular product?
RQ 2; What impact does integrated marketing communication has on sales of a product?
RQ 3; Will integrated marketing communication enhance consumer brand loyalty to a particular product or brand?
RQ 4; Can consumer brand loyalty result in increase in sales volume?
RQ 5; Will there be a direct relationship between integrated marketing communication (say advertising budget) and sales volume of a particular product?
1.6 STATEMENT OF HYPOTHESES
This research work presents three (3) testable dependent variables:
v Awareness of the customers
v Brand loyalty
v Increase in sales volume
The independent variables are the integrated marketing communication tools. Their relationships will be explored to provide answer to the research questions. To provide a logical framework within which the conclusion of this research work can be drawn, the hypotheses shall be tested for the reliability and acceptability of the outcome of this research work.
The Null Hypothesis (Ho) and the Alternate Hypothesis (Hi)
Hi: Integrated Marketing Communication promotes brand loyalty.
Ho: Integrated Marketing Communication does not promote brand loyalty.
Hi: Integrated Marketing Communication increases consumer's awareness of a particular product.
Ho: Integrated Marketing Communication does not increase consumer's awareness of a particular product.
Hi: There is a significant correlation between Integrated Marketing Communication and level of sales.
Hi: There is no significant correlation between Integrated Marketing Communication and level of sales.
1.7 SCOPE OF THE STUDY
The scope of this research work is limited to just one state out of the thirty six (36) states in Nigeria, that is, Lagos and also, it is to look at how integrated marketing communications affect sales with De - United Foods Industries Plc as the case study. Data shall be sourced from both primary and secondary sources i.e. questionnaires, and text, journals magazine and the internet.
1.8 LIMITATION OF THE STUDY
The lack of financial aid also stands as a bottleneck to the progress of this research work. In as much as fast food restaurants are unevenly dispersed around the town, it becomes a tedious task if not impossible for the researcher to go round all the outlets in the country to make enquiry.
Accurate data is basic to any research work, so to say, but it is quite unfortunate that accurate data is not obtainable in Nigeria. Data required are not available and where available, they are mere estimates and not obtained through rigorous research work. Inadequate texts in the library are also a constraint here.
Other factors that stood as constraint to this research are time factors, secrecy on the part of the respondents to give vital information.
1.9 DEFINITION OF TERMS
ADVERTISING: This is defined as ant paid form of non - personal presentation and promotion of ideas, goods or services by an identified sponsor.
PERSONAL SELLING: Personal presentation by the firm's sales force for the purpose of making sales and building customer relationship.
SALES PROMOTION: Short - term incentives that encourages the purchase or sale of a product or service.
PUBLIC RELATIONS: Building god relations with the company's various publics by obtaining favorable publicity, building up a good "corporate image," and handling or heading off unfavorable rumors, stories, and events.
DIRECT MARKETING: Direct communications with carefully targeted individual consumers - the use of telephone, mail, fax, e-mail, the internet, and other tools to communicate directly with specific consumers.
INTEGRATED MARKETING COMMUNICATION: A concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent, and compelling message about the organization and its products.