EFFECTS OF SALES PROMOTION AS A TOOL FOR WINNING CUSTOMERS IN A COMPETITIVE MARKET (A CASE STUDY OF THE ZAIN NIGERIA PLC)
This study examined marketing strategies for winning customer in telecommunication industry. It lightened the techniques on the strategies and effect of various marketing strategies in winning customer and stimulate repeat sales. It also goes further to look into identifying the brand Zain can use against other competitors like GLO, MTN. descriptive approach was employed as a means of data collection in proper investigation.
It appears that consumers product do not exist in isolation in the choice of brand and promotion. Therefore it should be made flexible in order to cater for changing situation.
TABLE OF CONTENTS
Table of content
1.0 Introduction of the Study
1.1 Statement of Problem
1.2 Aim and Objectives of the Study
1.3 Significance of Study
1.4 Scope of the Study
1.5 Limitation of the Study
1.6 Definition of Related Terms
2.0 Definition of Customer/ Consumers
2.1 Characteristics of the Consumer
2.2 The Meaning of Competitive market
2.3 Characteristic of the competitive market
2.4 The Meaning of sales Promotion
2.5 Types of sales Promotion
2.6 Impact of sales Promotion of an organization
2.7 Hypothesis Formulation
3.0 Research Methodology
3.1 Research Population
3.2 Research Population
3.3 Sources of Data Collection
3.4 Data Presentation & Analysis Techniques
4.0 Historical Background of the Study
4.1 Analysis of Data Presentation
4.2 Test of Hypothesis
5.0 Summary of Findings
1.1 INTRODUCTION TO THE STUDY
The company’s effort at prevailing among the millions of competition is surrounded by number of strategies the major factors that brought competition is product.
A product is anything tangible that can be offered to a marketer for attention acquisition that can satisfy a want or need.
A product in a competitive market should always be attributed with certain factors for proper identification in that market by the consumers.
The strategies for winning customers include the discovery an exploitation of distinctive advantage over competition. It stands on the principle that a company or a brand should have its own brand or concept of its business and check to achieve superiority over others.
The competition in the market is one of the key environment tat affect company’s activities to give its target market. The rival or competitor may be directly or indirectly. For this reason, strategies to put in place of suppress this competitor can only effective if proper competitive situation can only effective if proper competitive situation analysis is conducted whether it be product quality method of distribution packaging and advertising skills.
As some one said “supreme excellence consist of breaking the enemy’s competitors resistance without fighting” this various strategies such as product differentiation which includes: pricing.
1.1 STATEMENT OF PROBLEMS
Supposed our economy is a monopolistic economy issue of competition would not have arrived in the marketing of goods and services but due to the various environmental factors include among producer, producing the same type of product.
It had turn a market to a competitive ground and some producer find it very difficult to survive in the competitive markets.
It’s therefore important for management to build an organization culture dedicated to the outstanding and meeting the needs of customers by order to identify companies competitors. The company must also recognize that “CONSUMER IS THE KING” company must involve themselves in marketing strategies that will allow them to be better off the other competitors in their target market.
1.2 OBJECTIVE OF THE STUDY
This research work will be useful for practical purpose which shows the techniques or strategies for winning customer in a competitive market environment in Nigeria.
Other purpose of the study are listed below:
i. To investigate and find out the implication of competitors on the activities of the company (Zain Nigeria Plc).
ii. To know whether the intended strategy serve as the solution to the existing problem(s).
iii. To identify the brand Zain can used against other competitors like MTN, GLO.
iv. To carry-out investigate in affect of various marketing strategies in winning customers and simulate repeat.
(a) The Organization (Zain Plc): - This study will also found useful in zain Nigeria plc. In order to know the effective strategies to use for marketing its product in the face of other competitors.
(b) Source of Information: - This study could also be used for further researches as source significant.
(c) Job Opportunity: This study will also be useful for employment purpose due to its significant.
1.4 SCOPE OF THE STUDY
Without doubt, this study concerns wide area as for the purpose of effectiveness. Thus, the scope of this study covers the following: in term of theory, this study covers the marketing strategies for winning customers in competitive market with emphasis on zain Nigeria plc. This study covers the communication industry due to the case study of zain plc. as one of the companies in communication industry geographically. This study covers the whole Nigeria but with emphasis on Ilorin metropolis as the geographical scope. The time converage of this study shall be considered on the premises of (a) the period of writing the project and (b) time of data gathering. Therefore, time scope of the study shall be June of August of 20. branding. Packaging and effective promotional activities should always be put into consideration so as to surprise and depress the plans of competitors.
The marketing planning or strategy for wining competitors in the face of the consumers could be seen with the skillful plan that generally cover all the face of marketing. This marketing tactics to win consumers in the market includes the products strategy (price, taste, branding, colour, size, packaging product design) pricing strategy (pricing skimming, sales promotion, publicity), physical distribution strategy (direct to consumer, through dealers, wholesaler or retailer) and so on.
Therefore, there are strategic completion of marketing including the following:
a. Market segmentation
b. Market position
c. Marketing mix (product, price, place and promotion)
d. Market entry strategies
e. Timing strategy and so on?
Without doubt, the proper and effective utilization of this strategy would led to the following for the company in order to have an upper arm in the industry. This benefit includes:
a. Suppression of competitors
b. Expansion of market share
c. Product differentiation and identification among competitors.
1.5 LIMITATIONS OF THE STUDY
Gathering of all needed data in most studies is usually met with a number of obstacle and constraints.
Financial barriers stand as a big constraints during the exercises and limited full success of this study. This is because a lot of money was required to administer in the conduct of interview, which was based upon book appointment which was not reliable for several days.
Another constraint is lack of cooperation of some respondents because of their tight schedule particularly the market woman who were always busy attending to their customers thus, often to make a real repeat call.
However, despite all these constraints, the researches believes that this study shall achieve the desired objectives.
1.6 DEFINITION OF RELATED TERMS
A consumer is strictly ultimate use of a product or services. He /she is the one who decide the satisfaction and benefit offered.
1. MARKET: Market in it literal meaning can be defined by professor A.A. Wicksleed, he said “Marketing is the characterized phenomenon of the economics life and the central problem of an economic situation”.
2. CONSUMERS/ CUSTOMERS: A consumer / customer is the ultimate user of a product or service satisfaction and benefit from the consumption of the product which in turn either produces utility i.e. satisfaction or not.
3. COMPETITIVE MARKET: A competitive market is the market in which sellers of the same goods their buyers and make meaningful deals and exchange of a well defined commodity or product in the same market which in turn create or leads to a health rivalry among the sellers.
4. ORGANIZATION: This is the organized system or the organized group of people who work in harmony with the aim of achieving the stated goals and objectives which usually is profit.
5. STRATEGIES: This is the way and method of planning and directing of the whole operation in the organization so as to achieve the stated aim and objectives.
1.7 PLAN OF THE STUDY
In view of this research work to be fully comprehend and fully understood. It is as elaborated into different stages and chapters which is as follow:
Chapter one of this research work is about the background of the study, which tells about research topic, an insight to what the topic will do for firms and organization that will implement it in their organization.
Chapter two of the research work is an eye opener to what is expected of the topic i.e. who is a consumer is, what is their characteristics and the term and language that surround the topic and also a consumer.
Chapter three of its research work is about the method used in researching of all available data and analysis about this research work.
Chapter four talks about presenting and analyzing of all available data and information that are been gotten and derived from chapter three.
Chapter five of this research work is about the summarizing of the findings, our conclusion and also our recommendations in the research topic and implementation of research result to suitable firms and industry..