Effectiveness of Strategic Marketing and Management on the Sustenance of Growth in Nigerian Tertiary Institution (A Case Study of Lagos State University)
Chapter One
OBJECTIVES OF THE STUDY
The objectives of the study include the following.
- To find out how marketing ideas can be applied to education.
- To scrutinize to what extend has the Tertiary institutions engage in the market oriented approach.
- To find out the extent to which the Tertiary institutions have started inculcating marketing concepts into the management of the citadel of learning.
- To determine the importance of strategic marketing management in the day to day mining of an organisation in which Tertiary institutions is not exempted.
- To examine the environment of university management in Nigeria with a view identifying problem areas that could benefits from the marketing concept.
- Propose market oriented as a strategic choice for effective and efficient management of Nigerian Tertiary institutions.
CHAPTER TWO
LITERATURE REVIEW
INTRODUCTION
This chapter deals with review of related literature concerning the study at hand. Therefore the review of related literature will be looked at under the following headings.
- The concept of marketing
- Strategies of marketing management
- Educational marketing a conceptualization
- The market oriented entrepreneurial university
- Attitude towards the market of higher education
- Towards brands (Reputation) management
- Rational for marketing
- Benefit of owning a compelling brand
- Branding development in higher education
- Perceived risk in Higher Education
- Challenges’ and pitfall in higher education brand management
THE CONCEPT OF MARKETING
Marketing means different things to different people. According to Kotter and Keller (2006) marketing deal chatered the is with identifying and meeting human and social needs. In attempting a social definition of marketing for the 21 century, they posited that “marketing is a societal process by which individual and groups obtain what they need and what through creating, offering and freely exchanging products arid service of value with others. According to the American Marketing Association (AMA, 2004) Marketing is an organization function and set of process for creating, communicating and delivering value to customers and for managing customers relationship in ways that benefit the organization and its stakeholder. The united kingdom charted institute of marketing , the largest marketing body in Europe has given a definition which has become generally accepted in Europe . It defines marketing thus; Marketing is the management process which is responsible for identifying, anticipating and satisfying customers requirement efficiently and effectively at a profit.
It may be necessary to take time to consider the key words in this definition in some details. The key word here are
- Management process
- Identifying, anticipating and satisfying
- Customers requirement
- Efficiently and effectively
- At a profit (Oyedijo, 2010)
It can be clearly observed, there is no single universally accepted definition through each of this definition is correct in its own right.
However, certain basic fact about the term marketing can be derived from the definitions. These include
- Marketing is the staring point of all business activities
- Mar focuses on the needs and wants of the customer
- Marketing is not synonymous (not the same) with selling, selling is simply that important aspects of marketing which deals with the exchange process.
- Marketing is a paramount functional area of management which takes customers identification, satisfaction and retention as they to business prosperity.
- Marketing is a management process. This involves planning, organizing, staffing, directing and controlling human activities. It requires a well-articulated (i.e structure) form of business organization for it (marketing) to lead and facilitate the application of the marketing philosophy. (Oyedeji, 2010)
STRATEGIC MARKETING MANAGEMENT
This is the art of and science of choosing target market and getting, keeping and growing customers through creating, delivering and communicating superior customer values. (Kotter and Keller, 2006) marketing particularizes normal meet different levels of demands in the market. So its all about customers and managing the various states of demands as the case may be. (Oyedeji 2010). Marketing management seeks to influence the level, timing and nature of demands. So marketing management simply means customers management (Oyedeji, 2010)
The famous management thinker Henry Mintzberg (1987) defines strategy as ‘a pattern in a stream of decisions and action ‘He further distinguished between intended strategies (which result from no formal planning. Michael Poter (1996) view strategy as developing and communicating the company’s unique position making tradeoffs and forging fit among activities. The following elements identified by Kazmi (2002) and David (2003) after extensive review of literature shows that a strategy;
CHAPTER THREE
RESEARCH METHODOLOGY
RESEARCH DESIGN
The descriptive research design was used for this study. In this type of research design the characteristics of the population being studied is described. Also, it is used to predict and explain events; phenomenon or characteristics of population. Also, the sample survey research will be used in this study. Under this type of study, characteristics of the entire population is observed and described with the use of a good number of the target population. Osuala (2005) pornfed out that the sample must be representative of the population so that its true characteristics can be reflected.
POPULATION OF THE STUDY
Taiwo (2000) defined population as the entirety of people or items being considered within a specific area. In this study, the population would be the entire academic staff, non academic staff and educational administrators in higher institutions. However, the target population would be restricted to higher institutions in Lagos state. Specifically, Lagos State University.
SAMPLE AND SAMPLING PROCEDUCE
A sample is a small part of the whole population. The main reason for selecting a sample in any study is because the population can be very large and in accessible. In the case of this study, a total of 150 respondents was used These respondents where se from the school Administration Staff as well as from the various School and facilities in the Lagos state university
A stratified sampling techniques which divides the sample into levels gives every me of the population equal chance of being selected was employed. This entire School was stratified base on the various facilities m the school And also into various department in each facility. A total of 10 strata is obtained including the facilities, School of transport and school Administration. 15 respondents was selected from each of these strata base on this techniques and a total of 150 samples was selected.
CHAPTER FOUR
DATA ANALYSIS AND INTERPRETATION
CHARACTERISTICS OF SAMPLES
Table 3.1: GENDER
CHAPTER FIVE
SUMMARY OF FINDINGS, CONCLUSION, RECOMMENDATIONS AND SUGGESTIONS FOR FURTHER STUDIES
INTRODUCTION
This study has attempted to investigate Effectiveness of Strategic Marketing and Management on the Su of growth in Nigerian Tertiary Institutions. This chapter concentrates on summary of various chapters of the study, recommendation conclusions and suggestions for further studies.
SUMMARY
This research project titled Effectiveness of Strategic Marketing and Management on the Sustenance of growth in Nigerian Tertiary Institutions (a case study of Lagos State University) is aimed at determining how Tertiary Institutions carries out Effective Strategic Marketing and Management in their institutions. It is also to highlight different areas where the institution can have sustainable competitive advantage and review factors militating their performances. Different forms of marketing research were discovered such as: problem identification research and problem-solving research which help the institution in identifying strategic needs and meeting their managerial needs optimally.
Strategic M and Management have thus enhanced the sustenance of growth in all ramifications. However, Lagos State
University use best practices, marketing concept, and effective marketing mix- strategies in its institution. This however, gave the ins an edge over other tertiary institutions in the country.
FINDINGS
The outcome of the study has reviewed that:
- Strategic Marketing and Management is essential for the survival and exi stei of tertiary institutions.
- Lagos State University cannot do without Strategic Marketing and Management as it helps them to identify the tactics that can be used to gain competitive advantage over other competing institutions.
- Strategic Marketing and Management has thus enhance organizational performance at Lagos State University.
- Strategic Marketing and Management has thus helped in tremendous ways of ensuring that Lagos State University maintains its leadership position among other tertiary institutions.
- It was also discovered that for Lagos State University to maintain its leadership position in the educational industry, Strategic Marketing and Management should be properly adopted for the following reasons:
- To be able to identity marketing opportunities
- To be able to close the gap between the organization and is customers.
- In order to reduce the risk involve in making management decision.
- In order to improve the quality of their managerial decisions.
- For Lagos State University logy to experience a significant relationship between Strategic Marketing and Management and Sustainable growth, the following should be put in place:
- Allowing external body (Research specialist) to carryout Marketing Research on behalf of the institution.
- Since Strategic Marketing involves huge amount of money, the management at Lagos State University should be ready to invest such money for the purpose of making reasonable profit, sustainable growth, identify and meet customers’ needs and wants, and to effectively and efficiently satisfy them.
CONCLUSIONS
The purpose of this research work has been to investigate the Effectiveness of Strategic Marketing and Management on the Sustenance of growth in Nigerian Tertiary Institutions.
Strategic Marketing and Management is a market-driven management process of strategy development which takes cognizance of the constantly changing business environment and the need to achieve a high level of customer satisfaction.
The motives behind investing marketing research are to identify customer needs, maximize turnover/profit and to discover new trends in educational environment. Thus, Strategic Marketing has significant impact on the sustenance of growth in Nigerian tertiary institutions. This revelation strongly draws the focus that sustained growth in the educational industry is due to the application of Strategic Marketing and Management. Marketing Research data are collected from the combination of prim and secondary sources and this data are apply in various ways such as for decision-making, identification of marketing opportunities and the determination of prices.
Strategic Marketing and Management Research has helped most tertiary institutions in maximizing profit, identifying customer needs, product development, building institutional image, among others. Some tertiary institutions are yet to see the essence of Marketing Research because of the cost involved, subjectivity and inconsistencies in the information.
RECOMMENDATIONS
Strategic Marketing and Management Research should be more transparent to address the issue of sustained growth and performance. The shift in educational operations from local to international institutions has also necessitated the conduct of Strategic Marketing and Management. Competition at the local and international levels is becoming keen. Therefore, Strategic
Marketing Research is the supplier of the qualitative information since information is required to compete effectively.
Having carefully carried out the study on the Effectiveness of Strategic Marketing and Management Research as a tool for sustainable growth in the. educational industry using Lagos State University as a case study. The following recommendations are made:
- Lagos State University should strike to increase its present effort on strategic research activities and to increase the awareness of the institution to the public, thereby bringing about sustainable growth and customer satisfaction.
- Lagos State University should utilize the various techniques in research activities such as survey, field and other tools available to them in performing the activities and emphasis should be placed on total marketing orientation for survival.
- The management must understand the modern marketing philosophy and the role it could play for a tertiary institution to remain competitive.
- More budgets should be directed to the appropriate department so as to conduct a result oriented research on customers’ needs in order to enable the institution to develop service offering that could appeal to the target market.
- Lagos State University needs to develop a strategic plan in order to curb the emerging trends in the educational industry.
- Lagos State University should continually carry out Marketing Research in order to identify marketing opportunities and to close the gap between them and their policy holders.
- Lagos State University should evaluate and measure its performance periodically in order to detect or discover any gap between the industry and their various policy holders.
SUGGESTIONS FOR FURTHER STUDIES
Based on the limitations of the study, the following suggestions are made for further studies in the future.
- To embark on this kind of research in the future, the researcher needs to provide adequate finance in order to meet any financial obligations that may arise.
- Tertiary Institutions should continually use Marketing Research for better performance in order to have a sustainable competitive advantage.
- For further studies, researcher of this form of project needs to make adequate provisions of both primary and secondary data collection for the purpose of obtaining accurate and valid information.
- It is important that researcher of this form of study or project provide adequate time for the execution of this research work and hence avoiding uncomprehended conclusion of the research work.
- Furthermore, it will be an immense benefit to any researcher of this form of study to really have a greater sample size from which information and data can be acquired.
- It is also suggested that other forms of primary data collection methods such as interview should be employed particularly for the managers and policy holders concern in be research work.
REFERENCES
- Aaker B. O. (1995). Issues in higher education: Research evidence from sub-Saharan Africa. Lagos: Bolaby Publications.
- Akpakpan (1991), Economics, Beyond Demand and Supply, 2 nd Edition, Uyo: Edem Publishers.
- American Marketing Association(2004), Marketing, Principles and Strategies London Random House: Inc.
- Babalola, J.B. (2007). “Reform and development in Nigeria’s tertiary education: Focus on the Obasanjo’s administration”. In J. B. Babalola (Eds.) Access, equity and quality in higher education. Jos: NAEAP Publication.
- Bayer, P.U. (1968). “Accountability in university education in Nigeria: The case of students’ indiscipline”. In B. A. Eheazu et al (Eds.) Minimum standards and accountability in the Nigerian educational system. Port-Harcourt: Nigerian Academy of Education.
- Castells, R. (2001). The idea of higher education. Buckingham: SRIII and the Open University Press.
- Chussil, M. (2005). “With all this intelligence, why don’t we have better strategies?’”, Journal of Business Strategy, 26(1), 26-33.
