The Impact of Marketing Research on the Marketing Performance of Soft Drink in Nigeria
CHAPTER ONE
Objectives Of The Study
The objectives of this study is to evaluate the impact of marketing research on the marketing performance of soft drink in Nigeria.
CHAPTER TWO
LITERATURE REVIEW
Literature review
It’s necessary to review the need for marketing research in an industry. However, it does not have to be that way, but because many Banks and even industries have failed to take marketing research important in product development.
Marketing managers and other professionals are now relying more on marketing research in product development to make better decision clearly, marketing research is vital to marketing decision making. Robert Ferber asserted that “before the product is produced, market survey must be conducted in other to ascertain the acceptance of the product in marketing sphere”. He went further to buttress his fact by stating that just as the efficiency of production is dependent on product research, so also the efficiency of marketing depends on marketing research.
Marketing research he notes refers broadly to the development of the most efficient means of marketing, that is the discovering of new and better methods of marketing, more economical means of distribution, new market, better means of selling and other marketing aids. Marketing concept has become firmly established in many Banks. Marketing research focus on understanding consumers buying habit in relation to development in product research.
A research of this nature will be incomplete without insight into existing related literature on the subject under study. Literature survey therefore, is described as “A research of strategies trade journals, Articles, Magazines, Newspapers and boos for data or for insight into the problem at hand”.
For the purpose of this study, the researcher has relied more on the contribution of authors from Britain and United State of America who have published articles on marketing research, also those of Nigeria contributions in this field of study.
THEORETICAL FRAME WORK
Marketing is generally interpreted today as including all those business activities concerned with the development, production and distribution of product to identifiable market, where they will provide satisfaction to those who buy them.
Marketing research therefore, covers product development, identifying the market and suitable method of selling, distribution, promotion, pricing and sales service facilities. Marketing research has an advisory role in marketing management. It is used to acquire and analyze information and to make recommendations to management as to how marketing problems should be resolved. Tall and Hawken’s (1980:1)
CHAPTER THREE
RESEARCH METHODOLOGY
Research Design
For the purpose of this study, the survey research design method is used; it includes this studying sample chosen from the population to discover the relatives‟ incidence, distribution etc., through designed questionnaires, personal interview and observation. The survey research design for this study will focus on self-design and collection of data from the respondents.
Population of the Study
Though marketing research is important to all categories of product, the population of the study here is only that of Soft Drink Companies, precisely seven-Up Plc. This is designed to enable the researcher know exactly what customers feel about their product and service quality.
CHAPTER FOUR
PRESENTATION AND ANALYSIS OF DATA
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Summary
The research is an assessment of the impact of marketing research activities on the financial services and delivery in Nigeria Soft Drink Companiess, which is divided into five chapters.
Chapter one introduced the study, it states how marketing has been an important tool for determining the success rate of a new product generating more revenue for the entire success of seven-Up Plc. It also consists of the statement of the problems, significance of study, limitation of the study, scope of the study, limitation of the study and definition of terms. The objective of the study was to examine the contribution and the importance of marketing research on Product and service development, and examine circumstances under which marketing research is more likely to be used in the stage of new products development and the importance of marketing research on the profitability.
The chapter two explains why the researcher has decided to go into the area of study. The literature consists of the area of product control, sales, targeting and sales forecasting, it states that although, marketing performance in the market, not much emphasized in most Soft Drink Companiess. Attempt has been made to look at some theories, research in marketing and the types of research that exist in the field of marketing such as product research, consumer marketing analysis, sales promotion, primary research, distribution research etc.
Chapter three explain the research design of study, techniques and sample size, methods of data collection, method of data analysis and research instruments used. In all, the chapters explain how the research came about, how the data was collected and how the data was analyze to help solve the problem at hand.
Chapter four dealt with the analysis of the relevant data collected for the research, the chapter also dealt with interpretation of the data.
Chapter five is just the summary of all that is contained in the first four chapters.
It contains the summary, conclusion, recommendation and references.
Conclusion
Despite the huge amount of money spent for the promotion activities in most Soft Drink Companiess, the products are not well recognized. This means that the planning and development stage of the Soft Drink Companies are the most important areas to consider before any other thing.
Soft Drink Companiess succeed more with uniqueness rather than uniformity. Uniqueness entails doing things completely different from the usual way adopted by competitors and other Soft Drink Companiess. To have uniqueness in methods, procedures, processes and systems, Soft Drink Companiess need to have the right caliber of people to bring about these changes to stimulate them and to live with them for the purpose of gaining a competitive edge and advantage over the competitors. To achieve these, Soft Drink Companies must spend a lot on marketing research to achieve uniqueness and product delivery.
If sufficient research is undertaken, then the chances of failure are reduced. Indeed, the danger that many Soft Drink Companiess wish to avoid is the development of products without any consideration of the market.
Marketing research would lead to higher new product/service success, and that the integration of marketing research would be the most important of the factors contributing to success in new product/service of seven-Up Plc. Soft Drink Companiess which use marketing research intensively and understand consumer response in great depth are more likely to have higher success rates. The more extensive use of marketing research appears to be related to more experience in doing new product/service and a larger role for new products in the Soft Drink Companiess. Use of marketing research also allows Soft Drink Companiess to set quantitative goals for new products, and more carefully evaluate performance after launch.
Also most Soft Drink Companiess can be regarded as pace setters or market leaders in their various markets, if only they take time in doing marketing research on Product and service development.
Recommendations
In order to undertake a systematic product planning and development, in marketing research, the researcher is making the following recommendations.
- Most Soft Drink Companiess should invest in promotional activities to enable the product sell in the market and to increase the profitability of theSoft Drink Companies.
- Also Soft Drink Companiess should adopt the scientific method of product planning and development within the context of marketing research.
- Another recommendation that can be put forward is that, more money should be invested in promotional activities to enable the product sell in the
- That they should also conduct gap analysis of the existing products by interviewing a representative of consumers to find out their views about the Soft Drink Companies’s existing products before thinking of producing another
- They should also take note of the types of research approach used at the stage which includes monadic approach which is concern with comparing the concept with or against existing market after of the competitors. The Holistic approach of data about the marketing mix variable such as price, promotion packageand distribution. Although the Soft Drink Companiess conduct testing, it may suggestion that the Soft Drink Companies studies very well the procedure of product testing which varies from Soft Drink Companies to Soft Drink Companies and product to product. It is also expensive since it involves raw materials, machinery, and accuracy of new skill
Like product testing, marketing test also involve some procedure of which I will suggest Soft Drink Companiess to adopt to ensure successful marketing test, and take note of the information required during the marketing test.
References
- AKPAN, A.B. (2003): Introduction to Marketing: Zaria, Isola Ola and Sons.
- AKRANI. G. (2020) Stages Process Steps of New Product Development. http://www.kalyan_city.blogspot.com
- BINGWEN, Y. (2010) Managing Product and service development Processes: An Innovative Approach for SME. November. http://www.dk.cput.ac.za/td_cput/293
- MOORMAN.C. AND MINNER A.S. (1997) The Impact of Org Memory on New Product Performance and Creativity. Journal of Marketing Research.
- FEBUAURY. Vol xxxiv p 91-106 http://www.jstor.org
- CAFFYN, S. (1997) “Extending Continuous Improvement to the New Product.
- COMER, J.M., AND ZIRGER, B.J. (1997) “Building a Supplier-Customer Relationship Using Joint Product and service development”, Industrial Marketing Management 26(2): 203211.
- COOPER, R.G. (1994) “New Products: The Factors that Drive Success”, International Marketing Review 11(1): 60-76.
- COOPER, R.G., AND KLEINSCHMIDT, E.J. (2000) “New Product Performance: What Distinguishes the Star Products”, Australian Journal of Management 25(1): 1745.
- DONG. X. (2008). Improving Efficiency in Product and Process Development: A case study on a consumer product creation process. http://www.dspace.mit.edu/bitstream/handle
- Development Process”, Research & Development Management 27(3): 253-267. DONALD. S. T. and DELL.H. (1990): Marketing Research Measurement and Methods: New York.
- FANG.E, PALMATINER .R. W., and EVANS .K. R. (2008).Influence of Customer Participation on Creating and Sharing of New Product Value.http://www.faculty.washing.edu/palmatrw/docs/customer%20participation
- GARY L. L, PAMELA D. M, KATHLEEN S, MARY S, AND ERIC V. H. (2002)
- Performance Assessment of the Lead User Idea Generation Process for Product and service development.
- HUGHES, G.D., AND CHAFIN, D.C. (1996) “Turning Product and service development into a Continuous Learning Process”, Journal of Product Innovation Management.
- ILORI, M.O., OKE, J.S., AND SANNI, S.A. (2000) “Management of Product and service development in Selected Food Soft Drink Companiess in Nigeria”.
- JEFFERY, M. (1998) “Beating the Odds in Product and service development”, the World of Ingredients (January/February): 20-24.
- JANE E., PAULA F, AND SUZANNE M. S. (1994) A Primer on Consume Marketing Research Procedures Methods and Tools. March.
- LUCEY.T. (2002) Quantitative Techniques 6ed. UK. T.J International Padstow, Cornwall.
- LUNDON O. B. and LELAND L. B. (2000), Marketing Research and Analysis, 4thed.
- New York.
- LINT. O. (2001) The Option Approach to the Product and service development Process.
- http://wwwciteseerx.ist.pus.edu
