Economic Impact in Packaging as a Promotional Strategy in Marketing Company’s Product (a Case Study of Berger Paint Nigeria Limited)
CHAPTER ONE
OBJECTIVE OF THE STUDY
The objectives of the study are;
- To ascertain the relationship between economic impact in packaging and promotional strategy
- To ascertain the impact of promotional strategy in marketing company’s products
- To ascertain the economic impact in packaging as a promotional strategy in marketing company’s product
CHAPTER TWO
REVIEW OF RELATED LITERATURE
CONCEPTUAL FRAME WORK
The independent variable in the study is Promotional Strategy. It is the combination of the different channel that can be used to communicate the promotional message to the consumers. The channels to be used are advertising, public relations and publicity, personal selling, sales’ promotion and direct marketing tools that the company uses to persuasively communicate customers’ value and build customer relationship. (Armstrong and Kotler, 2009)
Asikhia (2000) viewed marketing promotion strategy as the design and management of a marketing sub-system for the purpose of informing and persuading present and potential customers and clients. The promotional elements are organic, for example, advertising can be seen as the taking of the horse to the stream while personal selling is forcing the horse to drink some water
Osuagwu (2002) submitted that promotion strategies are of substantial importance in the efficiency and effectiveness of a company’s marketing efforts. He further argued that marketing promotion elements play varying roles towards the achievement of corporate marketing goals and objectives. Adetayo (2006) opined that the overall promotion effort usually includes several individual promotion campaigns. He defined promotion campaign as an interrelated series of promotion activities designed to accomplish a specific objective. The goal of promotion management according to Adetayo (2006) is to ensure that all the individual elements of the promotion mix work together to accomplish the organization’s overall promotion activities.
According to Enikanselu (2008) company that wants more than “walk in” sales must develop an effective program of communication and promotions. Successful promotion is an essential ingredient in marketing strategy. Prospective buyers must learn about both the products’ distinctive wants satisfying characteristics and its availability. Establishing and maintaining communications with target market segment are the main tasks assigned to marketing promotion. Osuagwu (2002) identified the objectives of promotion as information, stimulation of demand, product differentiation, accentuating product value, and maintain stable product sales. The elements of marketing promotions mix are involved in communicating information to customers, clients or potential users about goods or services on offer.
CHAPTER THREE
RESEARCH METHODOLOGY
Research design
The researcher used descriptive research survey design in building up this project work the choice of this research design was considered appropriate because of its advantages of identifying attributes of a large population from a group of individuals. The design was suitable for the study as the study sought to economic impact in packaging as a promotional strategy in marketing company’s product
Sources of data collection
Data were collected from two main sources namely:
Primary source and Secondary source
Primary source:
These are materials of statistical investigation which were collected by the research for a particular purpose. They can be obtained through a survey, observation questionnaire or as experiment; the researcher has adopted the questionnaire method for this study.
Secondary source:
These are data from textbook Journal handset etc. they arise as byproducts of the same other purposes. Example administration, various other unpublished works and write ups were also used.
CHAPTER FOUR
PRESENTATION ANALYSIS INTERPRETATION OF DATA
Introduction
Efforts will be made at this stage to present, analyze and interpret the data collected during the field survey. This presentation will be based on the responses from the completed questionnaires. The result of this exercise will be summarized in tabular forms for easy references and analysis. It will also show answers to questions relating to the research questions for this research study. The researcher employed simple percentage in the analysis.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
It is important to ascertain that the objective of this study was economic impact packaging as a promotional strategy in marketing company’s product. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of economic impact packaging as a promotional strategy in marketing company’s product 5.2 Summary
This study was on economic impact packaging as a promotional strategy in marketing company’s product. Three objectives were raised which included: To ascertain the relationship between economic impact in packaging and promotional strategy, to ascertain the impact of promotional strategy in marketing company’s products, to ascertain the economic impact in packaging as a promotional strategy in marketing company’s product. In line with these objectives, two research hypotheses were formulated and two null hypotheses were posited. The total population for the study is 200 staff of Berger paint Nigeria limited, Lagos state. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made production managers, marketers, senior staff and junior staff were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies
Conclusion
The importance of the impact of promotional strategy on market suggests the need for a better understanding of the organizational factors that determine the commitment of organizational resources to drive the achievement of marketing goals. The significant effect of the adoption of promotional strategy in the selected companies does not only reflected in improved market share size and increased bottom line but has also shown that the customers and the society at large benefitted from the product information that are communicated to the markets. Promotional strategy therefore provides Berger paint Nigeria limited with the ways to effective connect with their target market in order to consequently improve the fortune of their business or organization and as well gain competitive edge in the market over their rivals .The findings reveal that promotional strategy is potent tool to influence performance in the organization and equally a strategic option that could determine the survival of any organization in her drive and quest to achieve marketing objectives. The findings reveal further that promotional strategy affected market share and profitability in the selected companies differently and at significant level.
Recommendation
The study therefore recommends that organization in their promotional strategy plan should identify which of the promotional tools the customers responds to favorably and ensures resources are concentrated on sales promotion, advertising, and publicity to maximize returns on promotional strategy expenditures. The use of the promotional strategy tools should be determined by the promotional objectives to be achieved, market share or profitability. In addition, promotional budgets should be enhanced to further strengthen the impact of the adopted tools on market share and profitability. The methods adopted in the study could be utilized by managers to analyze their market performance
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