The Role of Marketing Strategy in Determining Consumer Purchasing Behavour

The Role of Marketing Strategy in Determining Consumer Purchasing Behavour

Abstract of The Role of Marketing Strategy in Determining Consumer Purchasing Behavour

The  performance  of  marketing  function  basically  marrying  consumers  needs  and  wants with  the  appropriate  products  and  services. It  is the  duty  of the  form  to  adopt  appropriate  marketing  strategy  to  attract  customers  to  it’s  products  and  since  it  is  generally believed that  marketing  strategy  affects  the consumer  buying  behaviour.  This  project  therefore  attempts to  examine how  the use  of marketing  strategies  have  generated  sales  for  Hardis  and  Dromedas  Plc  following  it’s  impact  on consumer purchasing  behaviours  efforts are therefore  made  to  show  the  relationship  between  sales  turnover and   the  amount spent on  marketing  activities. The  project  work is divided  into  five  chapters  conveying  the  introduction,  literature  review, and  research  methodology,  analysis  of result  findings  as  well as  recommendation and  conclusion, limitation  of  study  which  might help  to achiever greater  sales  using marketing  strategies.  In all  special attention  is  paid  to  both  the  company  sales  record.                          

Chapter One of The Role of Marketing Strategy in Determining Consumer Purchasing Behavour

INTRODUCTION

BACKGROUND TO THE STUDY

Of  all  business activities  of  functions  none  is as  interested  in  the consumer  and  his  purchasing  behavior as  marketing.  Marketing  is  invariably  connected  with  the  research  into  purchasing  behaviaour  namely  what  the consumers  want, need  prefer  and  value, who are the prospective consumers and where they live, their  in come  and made  of  spending,  how  and  why  they  make  purchase  decision  and  so on. Infact the  influencing  of the  buyer  behaviour  is the primary  task  of the  marketing  department  in  any  organization.

Equally,  marketing  tries  to  define  the  right type  of  products in  terms  of the  company’s  objective  and  attempts  to make  it  available  at  the right   place and  the  right price,  with  right   promotions. This  the  performance  of  marketing  functions involves  basically  marrying  consumer  wants   and  with  the  appropriate products  and  services.  It  is  the  duty  of the  firm  to  adopt appropriate  marketing  strategy  to  attract  customers  to  its  products. This  is  important  because  in a free market  economy, the  ultimate  judge  of the  firm  performance  is the  consumer.

Consumer  purchasing  behaviour  will  determine  the  face  of the  enterprise  this  behaviour  can  best  be  described  by  a  marketing  manager  who  can  also  tell  how  he  will  by  influenced  by  market  variable  such  as price,  promotion.  Product (variation and  distribution)  and  place.

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 are  therefore  to  show  the  relationship  between  sales  turnover and   Amount spent  on marketing  activities  and  it’s  resultant  impact  on  consumer  purchasing  behaviour shall  also  concentrate  on  establishing  how  consumer  purchasing  behaviour  is  influenced  by  a forms  strategy  for  accomplishing  marketing  objectives  and  plans.  We shall pay special attention to hardis & Dromedas PLC.

STATEMENT  OF THE  PROBLEM

This is considered as the   first major step and    great importance in carrying out research. There the researcher attempts to define or describe the research problem.

The primary objective of most business enterprise is to make profit. This is because profit ensures, growth, survival and continuity in business. Many  companies  like  Hardis  and  Dromedas PLC  recognizes  this  fact  but   many  enterprise  still  fail  to  realize  that  the  achievement of this  goal  depends  on  their  ability to satisfy  the  needs  of marketing  strategies  besides  a primary  task  of marketing   is to  influence  the  buyers.

This study will therefore examine the following problem

(a) The marketing   strategies used by hard is & Dromedas PLC

(b) The extent use strategies are used in this company in generating sales.

(c)  Essentially, the  impact of these  strategies  on the  consumers  will  be  assessed  by  finding  out  who  they  are propelled  into  buying   the  company’s  products.

OBJECTIVE  OF THE STUDY

The  objective  of this  study  is  to  investigate  and  identify  the  marketing  strategies  employed  by  Hardis  and  Dromedas PLC.  Shall  look at the various  element of marketing  strategies  and determine  how  this  company uses  them to identify  and retain  customers and how  this  firm  uses them  to  find  out  how  to  compete favourably  in the  industry and  make  profit. This  research  will  also  try  to determine  the  marketing  strategy  used by  Hardis  and  Dromedas  PLC   in  it’s  operation  the attainment  of  corporate/  marketing  goals  and  move emphatically  consumer  of  Hardis   and  Dromedas  PLC products.

Further I shall try  to  identify  the  major  problem  associated  with  the implementation  and use  of the  marketing  strategy  in this  company. I shall  suggest  possible  solutions,  which  might help  eliminate  or  reduce  these problems.

This study  is also  aimed  at  bridging  the gap  between  classroom  theory  and the  realities  of industrial  practice, particularly  in the  area  of  marketing  and  consumer  purchasing  behaviour. In  this  vain  it  is  hoped that  this  little  effort  will  stimulate  the  interest  of  other student  profession  managers  and  marketing  policy markers to  pay  attention  to research  in the  relationship  between  marketing  strategies  and consumer  purchasing  behaviour  it  will  in  on  doubt  leave  the  consumer  and  producers,  interest  harmonized.

RESEARCH  QUESTIONS

This research work tends to provide answer to the following research questions.

(i)                  What  are  the strategies  used  by  Hardis  and  Dromedas  PLC  to influence  consumers  buying  behaviors?

(ii)                 How does this company identify the factors influencing consumers buying behaviour?

(iii)                What  are  problems  associated  with the implementation  and  use  of these  strategies  in this  company.

(iv)               Does  low  price  mean  poor  quality

(v)                Would you  like  to be consulted  before  produce  her  products

(vi)               Can  advertising  persuade  you  to  purchasing  product you  did  not  really  want.

SIGNIFICANCE  OF THE  STUDY 

The  fact  that  implementation  of effective  marketing  strategies  create  satisfaction  for  both  the procedures  and  consumer,  it can  be stated  that  in Nigeria today there is the  need  to  improve on  market  orientation  among  organizations.

Companies  should  realized  the importance  of  strategies planning  in the provision  of goods and service  to ensure  guaranted profits.  Good  strategies  means  lower cost  and  so  lower  prices  and   consumer are  induced  to repeat  purchase.  This  way  the  producer  realize  their  aim  and objectives  and  consumer  gets  needed  and services  at  affordable  prices. It  is  therefore  toward  the state  of  affairs  that  this  research work  is  oriented.

The  research  work  is also  undertaken in the hope  that it’s  finding  will  enable  marketing  people  to  understanding  adopt  and  apply  knowledge  of  consumer  purchasing  behaviour  in  tackling  their  marketing  problems.

Again it  is  hoped that  the study  and  the recommendation  that  will  be  made, will  be  of  benefit  to the  Hardis  and  Dromedas  PLC   marketing  department  in  particular  and  the entire  industry  as  a  whole  it  will  contribute  to  determining  the strategies  requirements  for  effective  marketing  and  would  enable  firms serve  their  customers  more  effectively  and efficiently.  If  the research  achieves, Thus it  will be  a  worth  while  contribution  to the  integration  of  functional  specialize (marketing) that  is essential  in the  business  world  today.

SCOPE OF THE STUDY

Realizing  the  financial  and time  constraint that  are  involved  in this  types  of study,  it  become  necessary to  limit the  scope  of the  study  to one  hundred  and fifty  consumers within Enugu  metropolis ,  and  to one  company. Using  one  company  will  limit  and  reduce  the  necessity  for  comparative  analysis the  element  in a  marketing strategy are common to all the firms hence I  shall place emphasis on the marking mix ie product, price  promotion and place. They will use to see how they relate to each other and combine to influence the buyers of hardies and Dromedas plc products.

Equally, the concept of consumers purchasing behaviour shall be analysis based on the data collected from consumers of Hardis and Dromedas plc product with Enugu metropolis to see it place in the market.

DEFINITION OF TERMS

There are probably as many definition of marketing terms.  It I survey difficult in real life to come up with a comprehensive definition of any term particular in the social sciences that can withstand a total universal acceptance , it is therefore planisble to establish operation  or functional definition for the key can concepts or terms used in this study.

MARKETING DEFINITE

According to Kotler and Keller (2006:5), they define marketing as an organization function and a set of processes of creating communicating and delivery value of customers and for managing customer relationship in a ways that benefit the or

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.

MARKETING STRATEGY

According to Philip kotler and Gray Armstrong on principle of marketing 13th edition, (2004) say in designing an initial marketing strategy for a new product based on the product concept. They further stated that this consist of three parts, the first  parts that describe the target market, the second parts the planned value proposition and the last part which is the sales, market share and the profit goal for the first few years.

The term also suggested some  factors to  be consider  while  selecting  marketing  strategy  for  a product  such  factors  are according  to  them  are:-

(1)        Business  Analysis:-  A  review  of the sale, cost,  and profit projective for  a new product to find out  whether  these  factors  satisfy  the  company  objective

(2)        Product  development:-  Developing  the concept into a  physical  product in  order to  ensure  into  working  marketing offering.

(3)        Test  marketing:  The  stage  of  new  product  development in which  the product  and marketing  programe  are  tested  in  realistic  market  settings. In  using  the  test  marketing  the  follow approaches  and  available  to choose  from –  standard  test  market.  Controlled test market.  And stimulated test market.

(4)        Commercialization:-  it  simply  means introduction of  a  new  product  into  the  market.

According To Comfit Etal (2001) 

Defined  marketing  strategy  as the  general  terms  used  to describe  the  overall  company  pragramme for  selecting  its  consumers  through  careful  use  of the  elements  of the  marketing  mix.

Marketing  Mix:  According  to  Abdalmajid  and   Lionel (2004)  He  defined  marketing  mix as the  promotion  of product,  especially  advertising  and  Branding.  However,  In  professional  usage, the  term  has  wider  meaning will  recognized  that  marketing   mix is  customer centered.  Product  are  often  developed  to  meet  the desires  of  groups of  customers or  even,  in some  cases, for  specific  customers,  they  go on to  divide   marketing  mix  into  seven  general  sets of  activities which  include.

Price promotion, product, place, process, people, and physical evidence.

Consumer purchasing behaviour

Schiffman  and  Kanuk (2007:3) They  define  consumer  purchasing  behaviour as  the  behaviour  that  consumers  display  in searching  for  purchasing using  evaluating and disposing of  product  and services that they  except will satisfy their  needs.

PRODUCT

According  to  kotler  & Armstrong (2005:276) Define product as  anything  that  can  be offered to  someone  to  satisfy  a need or want.

Product for  the purpose  of this  study  refers to  any  thing  Hardis and  Dromedas  PLC  has  to offer  for  want  or  need  satisfaction.