Sales Promotion As A Panacea For Improved Sales The Nigeria Botlling Company Experience (A Case Study Of Nigeria Bottling Company Plc 9th Mile Corner)
SALES PROMOTION AS A PANACEA FOR IMPROVED SALES THE NIGERIA BOTLLING COMPANY EXPERIENCE (A CASE STUDY OF NIGERIA BOTTLING COMPANY PLC 9TH MILE CORNER)
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This study treats or focused on sales promotion as a panacea for improved sales. The Nigeria Bottling company experience. Using NBC plc 9th mile corners as a case in point.
The major problems investigated was to determine whether actually manufacturing companies derive benefits by engaging sales promotions and other business incentives.
The primary objectives of this study was to find out the extent through which sales promotion can be used to improve sales.
The review of other related literature which was necessary for this study was made.. out of a population of three hundred workers of NBC PLC one hundred and seventy one was chosen as the sample size. The sample size was determined using the Taro Yamani Formula.
Survey research method was used because of its reliability in generating results and analysis. The data for the study was collected through the use of questionnaire. Data were presented in tables while analysis were according to research questions, however, the major statistical tool for analysis include, simple percentage, mean score and bar chart.
From the analysis carried out, it was discovered that NBC PLC, Enugu benefits from engaging in sales promotion and other business incentives.
The finding also reveals that the level of response from the customers and consumers of NBC PLC sales promotion include; the size of promotion, the audience participation requirement, type of promotion and ease of getting the offer.
The researcher recommends that NBC PLC should engage in extra marketing strategy to stimulate consumer patronage and rate of turn over for its survive the present economic competition such as strategy is sales promotion.
TABLE OF CONTENT
1.1 Background of the study
1.2 Statement of the research problem
1.3 Purpose of the study
1.4 Significance of the study
1.5 Research questions and hypothesis
1.6 Definition of term
1.8 Scope and limitation of the study
REVIEW OF RELATED LITERATURE
2.1 The meaning of sales promotion
2.2 The objectives of sales promotion
2.3 Sales promotional tools and its implications
2.4 Advertising (the promotion effort)
2.5 Summary of related literature review.
3.0 RESEARCH METHODOLOGY
3.1 Research method
3.2 Research design
3.3 Area of study
3.4 Population of the study
3.5 Sample and sampling technique
3.6 Instrument of data collection
3.7 Validation of the instrument
3.8 Method of collection
3.9 Method of data analysis
4.0 Data presentation and analysis
4.1 Presentations of data
5.0 SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
5.1 Summary of findings
1.1 BACKGROUND OF THE STUDY
Sales promotion is the activity that tends to educate, inform, persuade and induce prospective buyers, or consumers to patronize a particular product or services. Although advertising is seen as one of the sale products, colliers Encyclopedia volume 15 states that sales promotion covers various promotional techniques used by manufacturers and wholesales other than advertising and publicity.
Sales promotion also sanitizes and creates better awareness about a product or services with the intention of driving home the possible need and wants, such product or services can satisfy a consumer.
Operationally, sales promotion is an all marketing exercise or activity which are usually put together to principally create and ensure a steady increase in the demand for a particular product or service. Sales promotion which can also be called business promotion is also a principle factor that makes for desirable sales in any product or services. Historically, the use of sales promotion started effectively in Nigeria in the 18th century when the retailers displayed their product in triangular shop to attract consumers. Since then, various sales promotion strategies have been developed by business organizations and these had contributed in various ways to the success of their respective business.
However, some business entrepreneurs and merchant have also criticized sales promotion as a waste of money, arguing that as a statement, debunking the statement, has been a serious puzzle owing to the fact that the study which can prove the sales promotion can be used for improved sales in any business is not easily fetched. This is why the researcher has chosen to embark on a study that will bring to charity for improved sales, on a business venture especially as it regards improving sales.
Consequently, the researcher also intends to examine the difficulties associated with planning and executing a sales promotion capable of making their desired improvement.
In other words, this study will concentrate on determining the use of sales promotion as a panacea for improved sales, Nigeria bottling company PLC makers of coca-cola and other brands of soft drinks. Nigeria bottling company is subsidiary of leventis group of companies, which produces soft drink in Niger under franchise granted to it by coca-cola company of Atlanta USA. The late Ag Leventis in 1943 established AG Leventis and company (NIG)LTD. The main business then was testile trade, but by mere providence, the two brothers, Messers AG Leventis and L Leventis nurtured the company to a group of companies with business interest like wholesales, retailing through departmental stores etceteras. Others were manufacturing of soft drinks, glass and plastic products.
About five companies which the group of companies are quoted to the stock exchange market. Branches include Enugu, Onitsh, Lagos, Aba, Ibandan and other scattered all over Nigeria significantly the marketing philosophy of the NBC is to create and distribute to Nigerians consumers soft drink that offer satisfaction to the demanding population. Hence it is charged with the responsibility of establishing sales promotion that should propagate high sales.
1.2 STATEMENT OF THE RESEARCH PROBLEMS
The following problems are involved in this study
- Difficulties in the determination of whether actually manufacturing companies derive benefits by engaging sales promotion and business incentives.
- The impact of various departments towards the planning, design and execution of sale promotion.
- When of these promotional tolls do manufacturing companies use in planning design and execution of sales promotion as it relates to NBC PLC Enugu.
- Which factor influence the response of the consumer to a sale promotion/incentives programme.
- Which of these methods does the company use to advertise or determine the performance of sales promotion
1.3 THE OBJECTIVES OF THE STUDY
The ultimate purpose of sales promotion is to increase and create better awareness about a product or services with the intentions of inducing the consumer to make more purchase which will at the same time, satisfy the consumers needs.
The primary objective of this study is to find out the extend through which sales promotion can be used for improved sales. The Nigeria bottling company experience.
Specifically, the study is intend to:
- To determine the benefits derived by companies engaging in sales promotion and business incentives.
- To find out the extent various departments contribute to the success of sales promotions.
- To identify the promotional tools manufacturing companies use in planning, design, and execution of sales promotion.
- To find out the factors that influence the responses of the consumer to a sales promotion.
- To know the extent advertising help to determine the performance sales promotion.
1.4 SIGNIFICANCE OF THE STUDY
This study is significantly carried out for the following reasons.
- The result of the study would help the management of NBC PLC Enugu in manufacturing increase return in investments to enable them remain strong in our competitive market.
- The result will go a long way to alleviate the problems associating with sales promotion in manufacturing companies
- This research study would also create a foundation that will facilitate the understanding of the need for sales promotion and its valuation.
- It is hoped that result of the study will encourage various departments in NBC PLC Enugu to help contribute data for planning and controlling of sales promotion.
- The result will help NBC to assess their overall performance for possible modification policy strategies and economic growth.
- The result will also help manufacturing companies review their organizational goals and sees the extent their objectives are been achieved.
- This study will definitely encourage manufacturing companies to sending their staffs to the course and workshop to acquire new skills and update their knowledge on sales promotion.
- This study will help include new ideas to the management on various methods that can influence consumers response to achieve an increase in return on investment and profit position of NBC PLC.
- This will also serve as work of reference to future researchers, while suggestions made in this study would serve as a rally point on formative evaluation of the best maximum and utilization of the best approach to planning, design and execution of sales promotion in NBC PLC Enugu.
1.5 RESEARCH QUESTION
To guide this study five questions were formulated as follows
- What benefits can be derived by engaging in sales promotion
- To what extent do various department contributes to the success of sales promotion manufacturing company.
- To what extent do manufacturing companies use promotional tools in planning, design and execution of sales promotion.
- To what extend do many factors that influence the response opf the consumer to the success of the sales promotion.
- What is the extent various methods or means of advertising used, help in sales promotion.
1.7 DEFINITION OF TERMS
- SALES: Means the action or process of selling something or being sold
- PROMOTION: Advertising or some other activities by intended to increase the sales of a product ore services.
- PANACEA: An answer or cure for all troubles or problems
- IMPROVE: To achieve or product something of a letter standard or quality than some thing else.
- INCENTIVES: Something that incites rouses or encourages a person to do something either a work or a social service. It may be in form of honor, rewards and gift.
- SALES FORCE: A number of person or vehicle used by the firm to distribute and sell products in different outlets
- TOOLS: Instrumental whether tangible or intangible held and used by work man to achieve an organization goals or objectives
- COMPANY: This is a group of people working together or business or commercial purpose, a business organization.
- MANUFACTURING : This means the activity of making things by industrial process
- DEPARTMENT: A division of a large organization
- AWAARENESS: making something known to people
- CONSUMER: This is people who buys goods or used services.
Promotional activities are designed to break down brand loyalty
This is because sales promotion has an element of immediacy, which will being the consumer to go for a particular product. As Thomas cook of the Journal for marketing week put it: “No matter what ones marketing requirement. There is a solution at the end of the line” Promotions are tailored to suit your objectives and budgets.
In this research work, the researcher made the following assumption.
- The respondent in NBC PLC are likely going to respond actively to the questionnaire in this study.
- The study will give or yield dependable results.
- Future researchers will have to use this work as a reference material to make suggestions.
- The management of NBC PLC will use all the information in this work for further promotions
- The result of the work can be generally
H1: Members of NBC PLC have the time to improved sales promotion to their consumers.
Ho: Members of NBC PLC did not have time to improve sales promotion to their consumers.
H2: The members are not influenced by all the sales promotion to their consumers
Ho: The members are not influenced by the sales promotion ti the consumers.
H3: The consumers benefited from sales promotion of NBC PLC
Ho: The consumer did not benefit from sales promotion of NBC PLC
H4: The NBC PLC use the strategy for sales promotion to stimulate consumer patronage and rate of turnover for it to survive the present economic competition.
Ho: The NBC PLC do not use the strategy of sales promotion to stimulate consumer patronage and rate of turnover for its to survive the present economic competition.