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the effect of segmentation in the target marketing of nbl plc in enugu state
THE EFFECT OF SEGMENTATION IN THE TARGET MARKETING OF NBL PLC IN ENUGU STATE
This research project is very crucial study of the effect of segmentation in the target marketing of NBL plc Enugu.
To solve the research problem primary and secondary data were collected. The research instrument used in collecting the data were questionnaire and personal oral interview. The respondents compaesed the event staff/management and the customers of the company.
In the organizing and presenting data collected tables, frequencies and percentage were used. The various hypothesis were tested. OP the (S27) questionnaire was distributed, 400 to customer out of which 325 were refurned, representing 840, 87 to distributors out 012 80 were refurned representing 93%.
The objectives of this project are to find out the role of segmentation on the target marketing of NBL product. To find out the major problem falling on segmentation their product services.
The conclusion of the study, CS that organization without an efficient segmentation of market for those product from heterogeneous to homogenous is like an organization without plans to achieve organizational objective. This is because every Brewery product has whose reason for making them available and segmenting these will ensure that are purpose of the Brewery product with treaty every product separately, is the foundational basis for profitability of an organization.
To end this, various recommendation have been made to both organization to the Brewery industry, which is believe will helps to ensure and facolotate the educational level of NBL drink customer increase the profit of the patronge received from the customers, the educational level of the aspons marketer who are willing to enter the made for the first time.
TABLE OF CONTENTS
Statement of problems
Objective of the study
Formulation of hypothesis
Significance of the study
Scope of the study
Concepts of segmentation
Identifying attractive segment
Rational for market segmentation
Steps to entering the target market
Basis for market segmentation
Benefit created by market segmentation.
Population of the study
Sample size determination
Research Instrument Used
Method of data treatment and analysis
Limitation of the study
Presentation, analysis and Interpretation of data
Presentation analysis of data
Test of hypothesis
Summary of the findings, Recommendations and Conclusion
Summary of findings
In this modern and dynamic world, marketers look at the overall market as a body consisting of many smaller parts whose elements have some common characteristics.
They are mostly distinct from the entire market. For marketers entering a market, the total market must be divided into segments or division being similar internal of wants and need or behaviours. This therefore, results to designing its own programme which will be developed for its best satisfaction.
Adirika, Ebue, Nnolom (1997:40) noted that most marketers are too large for an organization market. Some delimitation of the market is necessary for the sake of efficiency and because of limited resources. This takes up to market segmentation.
According to Edoga and Ani (200:18) market segmentation is defined as the process of dividing the total market into several relatively homogenous groups with similar product interest. This process according to them requires marketers to identify factors that effect purchasing decision so that consumer can be grouped accordingly.
Adirika, Ebue and Noolom (1997:30) sees marketing segmentation as the subdividing of a heterogeneous market into homogenous subset or groups of customers so that each subset can conceivably be selected as a separated market target to be reach with a district marketing, mix. They further noted that in segmentation and consequently target marketing, organization endeavour to serve target market that they are able to satisfy efficiently and effectively, and not just any group of buyers that seems to represent a sizeable market. These includes the marketing of drinks.
Adirika (1992, 2-9) believe that the battles for the heart, mind and pocket book of the customers will be won by a block by block store by purchase, by bases. This strategy is based on the premise that customers have different test which change over town and that these customers and variety (customizable every organization including Brewery industries must make decision on two areas of needs:
– what need to serve and
– whose needs to serve
market consists of buyers who differ this wants, purchasing power, Geographical locations buying attitudes and buying practices. Any of the variables can be used to segment a market in today’s marketing environment, where are have an our grouping economy segmentation is giving a better view of what marketing concept is all about. A company that decides to operate on a broad or differentiated market whether consumer industrial reseller or government recongguishes that of normally cannot serve all customer in that given market.
Edoga (1995:86) believes that market segmentation is disagregative on its several demand schedules where only one was recognized before market segmentation, this is a device which is used in assisting management to divide a given total market demand into sets that are relatively homogenous and have certain specified characteristics by which they are identified. Market segmentation is customer oriented and hence, it is consistent concept. In segmenting, we first identify the needs and want of customers (consumers) within a sub market and then decide if it practical to develop a marketing mix to satisfy those wants.
Management can do a better marketing job and make efficient use of its resources by tailoring marketing programmes to individuals market segment.
STATEMENT OF THE PROBLEMS
Effective segmentation has been discovered to be potents marketing tolls for increase marketing performance on an ever increasing competition in the market place. M.B.2 = Nigeria breweries plc has registered her name in the brewery industry. Among other competitors like guardness plc life breweries etc.
Nigeria brewery has been witnessing tremendous competition among the different brands of bear which are market to customers like star, Gulder and maltona.
Nigeria brewery plc has maintained its leadership position on the market for a very long time or period.
The performance of this product on the market has been tremendous most customers prefer this brand to competitive brands.
In consumance to the above,
How has this segmentat6ion strategy on hand Nigeria brewery plc on meeting her customers demand.
Is this success as a result of effective segmentation stragtegy
Is this an improved service as a result of enhanced segmentation strategy.
What are the likely advantages this strategy has over competing brand.
In consumance of the above lines of reasoning/postulations: it is emphatically noted that segmentation is the key word for effective satisfaction of customers in catering industries.
OBJECTIVE OF THE STUDY =
In order to solve the problems identified above. The following objectives were formulated.
– To pond out the role of segmentation on the marketing of NBL Product
– To find out the major problems facings on segmentation their product/services.
– To determine the impact of market segmentation on increase profit of NBL
– To find out it marketing segmentation NBL leads to increase customers patronage.
– To determine if customers are satisfy with market segmentation strategies of NBL
– To find out the advantages of market segmentation of NBL products.
FORMULATION OF HYPOTHESES
In order to find a dependable solution to the research problem, the researcher has formulated the following hypothesis=Ho= market segmentation pratices of Nigeria brewery plc, do not leads to increase patronage of their products
Hi = market segment practices of NBL leads to increase patronage of their product Ho= The market segmentation practice of NBL does not leads to efficient use of limited resources of the company.
Ho = practice of market segmentation impacts negatively on the profit of the organization .
Hi = practice of market segmentation impacts positively on the profit of the organization
SIGNIFICANCE OF THE STUDY
Since the marketing environments changing, marketers continues to strive for protection marketing which is a human/idea oriented discipline cannot do without idea generation. As more ideas and products come into being, so, as the problems of entering the market with such product abounds. The study-market segmentation as a veritable of marketing, stands as shock absorber to market trying to segmentation a market, due to its intrinsite study and analysis of the segmentation variables. The significances of this study is engulfed and within the parameter of the following.
– Educating and aspiring marketers whose market segmentation as a veritable tools of marketing.
– Informing them of the euphoria of segmentation “with references to the querrilla warfare market”. It will make marketers to really understand that segmenting the market into a basket on benefits will in no distance time ensure that in any door step/audience you meet, there must be a kobo to be spent for your product.
– Informs the marketers about the problems which might be faced and also formulated policies and strategies to tackling these problems.
– Groom them on how to adopt to the rest changing marketing environment and finally. It will be a benefit to readers and researchers in coming out other related work.
SCOPE OF THE STUDY
This study concentrated on However, the researcher concentrated on the company operation within Enugu metropolis due to time money and other consonances.
DEFINITION OF TERMS
Marketing sargins relates to the marketing world. Certain words have been used in this write-up and they need to be defined as they are relates to the research topic
MARKET:- It is any legal and a formal place which exchange process takes place for benefit
– Segmentation: This is the process of sub-dividing a heterogeneous market into homogenous subset or group can conceivably be selected as a separate market target to be reached with a district marketing not.
– Marketing segment: This is a unique group, which has all its segmentation variables and characteristics.
– Premium segment: This is the segment that falls under the upper-upper group.
– Standard segment:- This group falls under the upper lower group. They are people on the average income group (Fantasial)
– Savings segment:- This group falls the lower group, they are the lower income earners.
– Strategies marketing:- Is described as STP marketing namely: Segment, target marketing and positiming.