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EFFECTS OF MARKETING STRATEGIES ON ORGANIZATIONAL PERFORMANCE

Authors:
  • Nile University of Nigeria Abuja- Honoris United Universities

Abstract

The purpose of this study is to investigate The effects of Marketing Strategies on Organizational Performance; A Study of Nigeria Bottling Company Kaduna, including Production strategy, pricing strategy, promotion strategy and place strategy, that eventually influences Marketing strategies on performance. Marketing strategy has been a focus of organizations and a tool for attaining overall firm performance. Our study contributes to the existing study of marketing strategy by supporting a relationship between marketing strategy factors and overall firm performance. Deduction from existing literature enabled a construction of a conceptual model that explains overall firm performance. Promotion, pricing, distribution, and product standardization and adaptation have an impact on sales, customer and financial performance of firms. The study suggests that the impact is mediated by marketing strategy implementation success.
International Journal of Business Marketing and Management (IJBMM)
Volume 3 Issue 9 September 2018, P.P. 01-09
ISSN: 2456-4559
www.ijbmm.com
International Journal of Business Marketing and Management (IJBMM) Page 1
EFFECTS OF MARKETING STRATEGIES ON
ORGANIZATIONAL PERFORMANCE
Dr. Cross Ogohi Daniel
Department of Business Administration Nile University of Nigeria, Abuja
danielcross@nileuniversity.edu.ng
Abstract: The purpose of this study is to investigate The effects of Marketing Strategies on Organizational
Performance; A Study of Nigeria Bottling Company Kaduna, including Production strategy, pricing strategy,
promotion strategy and place strategy, that eventually influences Marketing strategies on performance.
Marketing strategy has been a focus of organizations and a tool for attaining overall firm performance. Our
study contributes to the existing study of marketing strategy by supporting a relationship between marketing
strategy factors and overall firm performance. Deduction from existing literature enabled a construction of a
conceptual model that explains overall firm performance. Promotion, pricing, distribution, and product
standardization and adaptation have an impact on sales, customer and financial performance of firms. The
study suggests that the impact is mediated by marketing strategy implementation success.
Keywords: Marketing, Strategy, organizational and performance
I. INTRODUCTION
A successful marketing strategy must tell an organization where they would want to be on a long-term
basis that is why it is often said that marketing strategy is a continuous process. Marketing strategy is seen as the
marketing logic by which the business will hope to achieve its marketing objectives. In the business
organization, there is safely no activity where the marketer must not therefore make the right decision about the
four componentsof the marketing mix - price, product, place/distribution and promotion through the
employment of marketing strategy. These key components must be coordinated and moved into a unified
effective strategy if the product must perform well in the market. It consists of specific strategies for target
markets, marketing mix and marketing budget.
The recent globalization market has made companies to view the internationalization of their activities
and events as a way to remain competitive in the market. Marketing strategy has become a relevant tool in the
world for any organization to remain in the competitive market environment and become stronger.
Marketing strategy can be defined as a plan by a company to differentiate the company to differentiate itself
positively from its competitors, using its relative strength to better satisfy customer needs in a given
environment (Jain, 2004). Marketing strategies entails the set of actions designed to achieve competitive
advantage and achieve better than average results by intelligent and fact-based selection among alternative
leading to such advantage (Shane, 2000).
There are diverse definitions of marketing strategy and such definitions reflect numerous perspectives
(Li and Calantone, 2000). However, the agreement is that marketing strategy provides the avenue for making
useof the resources of an organization in order to ascertain its set goals and objectives. Marketing strategy is
defined as a given market area, the proper distribution of resources to support enterprises to win competitive
advantage. Goi (2005) defined marketing strategy as a set of marketing tools that firms utilize to pursue their
marketing objectives in the target market; the view which was earlier expressed by (Gronroos, 1999 and
Osuagwu, 2006). Therefore, the function of marketing strategy is to establish the nature, strength, direction, and
interaction between the marketing mix- elements and the environmental factors in a specific situation.
According to (Owomoyela, et al, 2013), the purpose of the development of an organization's marketing strategy
development is to create, build, defend and maintain its competitive advantage. Managerial judgment is very
important in keeping up with environmental ambiguity and uncertainty in strategic marketing.
More so, depending on the nature of business, strategies may have other dimensions as well. At the
heart of any business strategy is marketing strategy. Businesses exist to deliver products to the markets to an
extent that they serve this purpose efficiently through profit maximization. All these are marketing efforts. The
objectives of an organization have to be considered, particularly on customers' satisfaction and increasing their
sales volume at profits making.
Most companies today in Nigeria and the world at large operate in an increasing complex and unstable
environment. Coca-Cola Bottling Company Plc. is one of the multinational companies that are involved in the
production of non-alcoholic drinks. Nigerian Bottling Company Ltd (NBC) is incorporated in November 1951,
EFFECTS OF MARKETING STRATEGIES ON ORGANIZATIONAL PERFORMANCE
International Journal of Business Marketing and Management (IJBMM) Page 2
as a subsidiary of the A.G. Leventis Group with the franchise to bottle and sell products of The Coca Cola
Company in Nigeria. Two years later in 1953, the production of Coca-Cola begins at a bottling facility in Ebute-
Metta, Lagos State. In the same year the company opens its first bottling plant in Apapa. NBC becomes a
member of the newly formed Coca-Cola Hellenic Bottling Company S.A. (an anchor bottling group with
operations in 28 countries worldwide). Competition among other Bottling Companies has called for intense
application of marketing strategy tools that will appeal to customer for sustainable patronage by each of these
bottling companies.Challenges are facing companies to seek the best management and marketing strategies, to
grow the company's performance and increase shareholders value.
Excellent companies are known not only by well-conceived marketing outlining where, when and how
the companies will compete but also by their ability to execute the marketing strategy decision option selected
(Chris, 2006). Appropriate and effective executed marketing strategies are required to productively guide the
deployment of available resources where the company marketing strategy abilities in pursuit of desired goals
and objectives (Michael, 2002; Chris, 2006; Frances & Stephen, 2006; Michael, 1997). The customers are now
better educated and the global whole of business today is a very complex one. In order to satisfy the changing
need of customers, companies must first know their needs and that is where marketing strategy begins. For a
company to survive in today's competitive market, it has to strategize in satisfying customer's needs more
effectively and efficiently through marketing strategies. It is in line with this that the study is carried out on the
effect of marketing strategies (product, promotion, price and place) on organizational performance (profit, sales
volume, and market share and customer loyalty) of Coca-Cola Bottling Company Plc.
II. STATEMENT OF THE PROBLEM
In current business activities, the success or failure of any business organization hinge on how best
such organization can fulfill its customers and this act places huge task and responsibility by way of marketing
on any organization intending to excel at satisfying their customers and clients. The duty involves identifying
the precise needs of their customers/clients and deciding on how best to handle their products and services so as
to satisfy the wants of both prospective buyers and sellers (as represented by clients/customers).
The main concern of every business organization is to maximize profit and to achieve this objective; it
befits the marketing manager of any rational business organization to plan and implement policies which will
maximize the income per unit of capital employed in the business. It is said that understanding of consumer
needs and wants is important to successful marketing just as competition is significant at influencing how
successful an organization's business enterprise can be. It is imperative to note that it is not simply a matter of
producing a good product or service alone that meet the customers' wants and needs that give customer
satisfaction, but how well the product or service is introduced to them. In one way or the other, some firms and
companies are able to do this but some are more successful in the market place than others. The question that
then arises is why is this so? With reports of the varying degree of successes and failures recorded by
manufacturing firms in different parts of Nigeria, it is imperative to attempt to carry out a detail study of the
various marketing strategies being adopted by these firms in carrying out their operations with a view to
establishing the place of marketing in their organizational performances
III. OBJECTIVES OF THE STUDY
The main objective of the study is to examine the effects of marketing strategies on the organizational
performance of Nigeria Bottling Company in Kaduna State. Other specific objectives of the study are:
i. To examine the degree at which product strategy improves the level of profit of Nigeria Bottling Company
in Kaduna State.
ii. To determine the extent at which promotional strategy influences the sales volume of Nigeria Bottling
Company in Kaduna State.
IV. RESEARCH HYPOTHESES
Based on the proposed research problem, research question and theresearch objectives above, the
following null hypotheses are postulated to guide the study
H1: There is no significant relationship between product strategy and the level of profit of Nigeria Bottling
Company.
H2: There is no significant relationship between promotional strategy and the sales volume of Nigeria Bottling
Company
V. LITERATURE REVIEW
5.6.1 Conceptual Framework on Marketing Strategy
The word strategy was originally used in amilitary context before being adopted by many other fields.
A strategy is a long-term course of action designedto achieve a particular goal. It is differentiated from tactics in
EFFECTS OF MARKETING STRATEGIES ON ORGANIZATIONAL PERFORMANCE
International Journal of Business Marketing and Management (IJBMM) Page 3
that a tactic refers to an immediate action usingresources at hand. When applied in a business context, a strategy
refers to a set of managerial decisions andactions that aims to differentiate the company from competitors and
sustain its competitive advantage. Acompany's strategy must be appropriate for its mission, resources and
environmental circumstances.
Accordingly, a marketing strategy can be defined as a plan by a company to differentiate the companyto
differentiate itself positively from its competitors, using its relative strength to better satisfy customer needs in a
given environment (Jain, 2004). Marketing strategies entails theset of actions designed to achieve competitive
advantage and achieve better than average results by intelligentand fact-based selection among alternative
leading to such advantage (Shane, 2000).
5.6.2 Product Strategy
Kotler and Armstrong (2006) define a product as anything that can be offered to a market for attention,
acquisition, use, or consumption that might satisfy a want or need. They further define a consumer product as
the product bought by the final consumer for personal consumption. Consumers buy products frequently, with
careful planning, and by comparing brands based on price, quality and style. Borden, (1984) sees a product as
about quality, design, features, brand name and sizes. Mohammad et al, (2012) also say that product is the
physical appearance of the product, packaging, and labeling Information, which can also influence whether
consumers notice a product in-store, examine it, and purchase it. Past researchers have clearly suggested that
product influences have a significant impact on business performance (Kazemand Heijden, 2006; Kemppainen
et al, 2008; Ogunmokun and Esther, 2004; Owomoyelaet al, 2013).
In marketing, the product is important component of the marketing mix. It determines whether the
organization survives or dies. To develop the 'right' product is not an easy task because of the dynamic nature of
consumer needs and attitudes. The goods and/or services people buy at any given time are determined by their
immediate needs and other external stimuli.
According to Busch and Houston (1985) product is anything capable of satisfying a consumer want or
need. It can take a variety of forms, including a physical object, a service, a place, an organization, an idea or a
personality. Kotler (1991) defined a product as anything that can be offered to a market for attention, acquisition
or consumption; it includes physical objects, services, personality, places, organizations and ideas.
Under the traditional approach, a product is seen as the entire bundle of utility that is offered by a
marketer to the market place. This bundle contains a potential for satisfaction that comes in part from a tangible,
objective feature of the product. Satisfaction is also derived from the intangible, subjective features of a product.
This accounts for why some people may prefer to buy higher priced goods than their cheaper counterparts.
Functionally, the products may serve the same purpose but this is not enough for an ego-conscious consumer.
Products can also be viewed from the angle of the benefits they offer, in fact, markets are divided into segments
on the basis of benefits which reflect the needs and wants of each segment. A marketer must always try to
identify the primary and secondary benefits his product is likely to offer to the consumers and convert them into
unique selling proposition (USP).
5.6.3 Promotion Strategy
Promotion is the function of information, persuading and influencing the consumers'Purchasedecision.
It may be defined as any communication activities whose purpose is to moveforwardproducts, idea or service in
the marketing channel in order to reach the final consumer.Promotionaffects the knowledge, attitudes and
behavior of the recipient. Promotion usually provides targetaudiences with all the accurate information they
need to help them take decision to visit aparticulardestination/site. The information should be accurate and
timely and should not be misrepresentedsoas to satisfy the customers and create a positive image for a
destination.
Zeithamlet al. (1995) describe promotion as part of specific effort to encourage customers to tell others about
theirservices.
Borden, (1984) defines promotion as salespromotion, advertising, personal selling, public relations and
direct marketing. Kotler, (2007) discovers thatPromotions have become a critical factor in the product marketing
mix which consists of the specific blend ofadvertising, personal selling, sales promotion, public relations and
direct marketing tools that the companyuses to pursue its advertising and marketing objective. Previous
researches (Amine and Cavusgil, 2001;Francis and Collins-Dodd, 2004) have established significant
relationship between promotion and businessperformance.
5.6.4 Concept of Organizational Performance
Performance defined using the 3E: efficiency, efficacy and economies, as forms of manifestation
MihaiRistea (2002) thinks that the following three concepts can be associated with performance: efficiency,
economies and efficacy. This approach to performance was named by the professor as being the equation of the
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International Journal of Business Marketing and Management (IJBMM) Page 4
3Es, and mathematically, it could be represented as follows: Performance = Efficiency + Efficacy + Economies.
It can be noticed the fact that an entity is successful when it is efficient, effective and economical. Therefore, to
be successful means combining all three variables, the combination of which reflects the performance level of
an entity. Efficiency consists in either using a quantity given by resources, aimed at the highest level of the
achieved results, or reducing the quantity of the used resources with the aim of achieving a predetermined result.
Economies consist in providing the means, the necessary resources to performing an activity at the minimum
cost. Efficacy is determined by achieving or exceeding the predetermined results to the actual results made
throughout the development of the activity. This represents the ability of the enterprise to meet and even exceed
the expectations of users of the accounting information (shareholders/associates, clients, suppliers, employees,
government) at the same time with reaching the predetermined organizational objectives. An entity reaches
efficacy when it manages to improve the way of using all sources which are available and necessary to the
development of the activity, performing as well as possible the needs and the requirements of the external
partners of the organization.
5.6.4.1 Profit
According to www.businessdictionary.com, a profit is a financial gain especially the difference
between the amounts earned and amount spent in buying, operating, or producing something. Profit can also be
seen as surplus remaining after total cost are deducted from total revenue and the basis on which tax is.
Profitability is the primary goal of all business ventures. Without profitability the business will not survive in
the long run (Simons, 1999). So measuring current and past profitability and projecting future profitability is
very important. Profitability is ability of a company to use its resources to generate revenues in excess of its
expenses. In other words, this is a company’s capability of generating profits from its operations. The other
three are efficiency, solvency, and market prospects. Investors, creditors, and managers use these key concepts
to analyze how well a company is doing and the future potential it could have if operations were managed
properly.
The two key aspects of profitability are revenues and expenses (Ambler, Kokkinaki and Puntoni,
2004). Revenues are the business income. This is the amount of money earned from customers by selling
products or providing services. Generating income isn’t free, however. Businesses must use their resources in
order to produce these products and provide these services. Resources, like cash, are used to pay for expenses
like employee payroll, rent, utilities, and other necessities in the production process. Profitability looks at the
relationship between the revenues and expenses to see how well a company is performing and the future
potential growth a company might have. There are many reports to use when measuring the profitability of a
company, but external users typically use the numbers reported on the income statement. The financial
statements list the profitability of the company in two main areas. The first signs of profit show in the profit
margin or gross margin usually calculated and reported on the face of the income statement. These ratios
measure how well the company is using its resources to generate profits. The second sign of profit isn’t really a
sign; it’s more like the real thing. The income statement always reports the net income at the bottom of the
report. This is often the true sign of profitability because it shows external users the total amount of revenues
that exceeded the expenses during the period.
5.6.4.2 Sales Volume
This is the quantity or number of product sold or services provided by a company in a particular period
of time. Sales volume can be seen as the volume of goods sold in number or quantity of units during the normal
operation.
5.6.4.3 Market Share
Market share is the percentage of an industry or market’s total sales that is earned by a particular
company over a specified time period.Market share is calculated by taking the company’s sales over a period
and dividing it by total sales of the industry over the same period. It can also be described as a percentage of
total sales volume in a market captured by a brand, product or company. Market share is said to be a key
indicator of market competitiveness that is, how well a firm is doing against its competitors. "This metric,
supplemented by changes in sales revenue, helps managers evaluate both primary and selective demand in their
market. That is, it enables them to judge not only total market growth or decline but also trends in customers’
selections among competitors. Generally, sales growth resulting from primary demand (total market growth) is
less costly and more profitable than that achieved by capturing share from competitors. Conversely, losses in
market share can signal serious long-term problems that require strategic adjustments. Firms with market shares
below a certain level may not be viable. Similarly, within a firm’s product line, market share trends for
individual products are considered early indicators of future opportunities or problems (Farris, Neil, Phillip,
David 2010). Research has also shown that market share is a desired asset among competing firms. Experts,
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International Journal of Business Marketing and Management (IJBMM) Page 5
however, discourage making market share an objective and criterion upon which to base economic policies
(Armstrong and Kesten 2007). The aforementioned usage of market share as a basis for gauging the
performance of competing firms has fostered a system in which firms make decisions with regard to their
operation with careful consideration of the impact of each decision on the market share of their competitors. It is
generally necessary to commission market research (generally desk/secondary research) to determine.
Sometimes, though, one can use primary research to estimate the total market size and a company's market
share.
5.6.5 Effectsof Marketing Strategy on Performance
i. Product
It is of prime advantage for the firm to possess the ability of consistent and planned activities to meet
and exceed customer preferences and value that can be regarded as customer performance. This customer
performance is achieved by the firm regardless of the approach of marketing pursued meaning either
undertaking standardization or adaptation. In order for a company to securely adapt to varying international
markets, the marketing strategy should take into consideration the internal and external business environment
that affects a company positively to revel in greater performance.
The influence of marketing strategy- product focus on various dimensions including actual and
augmented product factors on performance in international markets, has quite received attention by numerous
researchers. The study conducted by Aremu and Lawal (2012) which employed composite export performance
measures, focused on product design marketing mix element found conducive to performance of companies
pursuing global marketing in that it can serve product adaptation as a means of differentiation for rival’s
products and influence overseas customer attitudes (customer performance) toward a firm’s product.
In overall, the study by Aremu and Lawal (2012) found product design and style to have a significant
positive effect on firm performance. While other studies researched on the relationship between product quality
and firm performance in international markets in which the relationship is found to be positively associated. The
provision of high-quality product to customers has been postulated to augment the value associated with
customer performance. Prior studies reveal two observations regarding quality of product in line with the
marketing strategy that are important.
However, the export product marketing mix for companies is usually of a narrower range than that
offered domestically, because of financial constraints and operational difficulties associated with global
marketing activities (Aremu and Lawal, 2012). First, it significantly reflects a customer-oriented posture
because the firm engaging in global marketing systematically evaluates consumer and buyer behavior and host
market characteristics that improve the firm’s total performance (Douglas and Wind, 1987). Second, product
adaptation strategy can lead to greater financial performance such as profitability, as a quality productmarket
match can result in greater customer satisfaction thus improving customer performance that is one of the
outcome in our research model, which consequently allows for greater pricing freedom for the firm. Third,
pressures associated with meeting a great degree of specific market requirements on international level often
demand creative and innovative marketing strategy, which may bring about additional products for a firm’s
domestic and international markets.
Thus far, product adaptation is a suitable strategy toward market responsiveness as it offers the development of
new products that meet the needs of a changing marketplace.
ii. Promotion
Many researchers have emphasized the importance of promotional mix to business markets as a
valuable tool for achieving performance. Sales, financial and customer performance is achieved through
promotional mix by gaining experience in the opportunities and problems arising in specific export markets,
boosting communication, personalizing relationships, and cultivating a team spirit with customers abroad, and
providing timely response and immediate support to the export venture’s needs. The study by Ambler and
Puntoni, (2004) examined six promotion-related variables, i.e., advertising, sales promotion, personal selling,
trade fairs, personal visits, and promotion adaptation, for their effects on export performance. Most of the
promotional related variables were found to be positively linked to firm performance. Notably, advertising was
the most widely researched variable of promotional mix, based on the notion that with sound advertising
procedures the firm can communicate information, constantly remind, and persuade foreign customers to buy
the products and, therefore, generate more sales.
VI. METHODOLOGY
This research therefore covers the selected Nigerian Bottling Company in Kaduna. Secondary data
were obtained through books, journals, and internet. Empirical works of other scholars were consulted. A simple
size of 245 was obtained from the population of 635at 5% error tolerance and 95% degree of freedom using
EFFECTS OF MARKETING STRATEGIES ON ORGANIZATIONAL PERFORMANCE
International Journal of Business Marketing and Management (IJBMM) Page 6
Yamane’s statistical formula 245(100%) of the questionnaires distributed 213(87%) were returned and 32(13%)
were not returned. The questionnaire was designed in Likert scale format. The researchers conducted a pre-test
on the questionnaire to ensure the validity of the instrument. Pearson Moment Product Correlations coefficient
was used to test the hypotheses.
VII. TEST OF HYPOTHESES
Pearson Moment Product Correlations coefficientwas conducted with SPSS to know if the null
hypothesis should be rejected or not.
Hypotheses One
H0: There is a significant relationship between product strategy and the level of profit of Nigeria Bottling
Company.
H1: There is no significant relationship between product strategy and the level of profit of Nigeria Bottling
Company.
Table I: Table of correlation between product strategy and the level of profit of Nigeria Bottling Company
Correlations
product
Strategy
the level of profit of Nigeria
Bottling Company
Product Strategy
Pearson Correlation
Sig. (2-tailed)
N
1
200
.293**
.000
213
the level of profit of
Nigeria Bottling Company
Pearson Correlation
Sig. (2-tailed)
N
.293 **
.000
213
1
200
**. Correlation is significant at the 0.01 level (2-tailed).
According to above calculations it is observed that amount of correlation coefficient between product
strategy and the level of profit of Nigeria Bottling Company is equal to 29.3 per cent and considering that a
significant level is greater than 5%. Then we can say that there is no positive relationship between product
strategy and the level of profit of Nigeria Bottling Company .
Table II: Regression analysis test of product strategy and the level of profit of Nigeria Bottling Company
Model Summary
Coefficientsa
Model
Unstandardized Coefficients
t
Sig.
B
Std. Error
1
(Constant)
3.433
.187
18.342
.000
Production strategy
.060
.057
1.054
.293
Dependent Variable: Level of profit
From the coefficients table above, the p-value was obtained to be 0.293 which is greater than 0.05
(5%). Therefore the null hypothesis “there is no significant relationship between product strategy and the level
of profit of Nigeria Bottling Company” will be accepted and can conclude that there is a no significant
relationship between product strategy and the level of profit in Nigerian Bottling Company, Kaduna.
In summary, based on the foregoing, majority do not support hypotheses one. There is no significant
relationship between product strategy and level of profit. Product strategy had a negative correlation with the
level of profit in Nigerian Bottling Company, Kaduna and supports the concept that the company will make
more profit without the utilization of the product strategy. Hypothesis one which states that “there is no
significant relationship between product strategy and level of profit in Nigerian Bottling Company, Kaduna” is
accepted.
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International Journal of Business Marketing and Management (IJBMM) Page 7
Hypotheses Two
Ho: There is a significant relationship between promotional strategy and the sales volume of Nigeria Bottling
Company Plc.
H2: There is no significant relationship between promotional strategy and the sales volume of Nigeria Bottling
Company Plc.
Table III: Table of Correlation between Promotional Strategy and the Sales Volume of Nigeria Bottling
Company Plc.
Correlations
Promotional Strategy
The sales volume of
Nigeria Bottling Company
Plc.
Promotional Strategy
Pearson Correlation
Sig. (2-tailed)
N
1
200
.685**
.000
213
the sales volume of Nigeria
Bottling Company Plc.
Pearson Correlation
Sig. (2-tailed)
N
.685 **
.000
213
1
200
**. Correlation is significant at the 0.01 level (2-tailed).
According to above calculations is observed that amount of correlation coefficient between
Promotional Strategy and the sales volume of Nigeria Bottling Company Plc. is equal to 68.5 per cent and
considering that a significant level is bigger than 5%. Then we can say that there is no positive relationship
between promotional strategy and the sales volume of Nigeria Bottling Company Plc.
Table IV: Regression Analysis Test of Promotional Strategy andthe Sales Volume of Nigeria Bottling
Company Plc.
Model Summary
Coefficientsa
Model
Unstandardized Coefficients
Standardized
Coefficients
t
Sig.
B
Std. Error
Beta
(Constant)
3.559
.216
16.464
.000
Promotional
Strategy
.027
.067
.028
.407
.685
Dependent Variable: Sales Volume
From the coefficients table above, the p-value was obtained to be 0.685 which is greater than 0.05
(5%). Therefore the null hypothesis “there is no significant relationship between promotional strategy and sales
volume of Nigeria Bottling Company” will be accepted and can conclude that there is a no significant
relationship between promotional strategy and sales volume in Nigerian Bottling Company, Kaduna.
In summary, based on the foregoing, majority do not support hypotheses two. There is no significant
relationship between promotional strategy and sales volume. Promotional strategy had a negative correlation
with sales volume in Nigerian Bottling Company, Kaduna and supports the concept that the company will make
more sales without the utilization of promotional strategy. Hypotheses two which states that “there is no
significant relationship between promotional strategy and sales volume in Nigerian Bottling Company, Kaduna”
is accepted.
VIII. DISCUSSION OF FINDINGS
Hypothesis one was tested using Pearson’s product moment correlation to examine the degree at which
product strategy improves the level of profit of Nigeria Bottling Company in Kaduna State. With a computed
result (r = 0.682; F= 332.632; t= 14.223; p < 0.05).The null hypothesis was accepted and alternate hypothesis
was rejected resulting in the conclusion that there is no significant relationship between product strategy and
level of profit in Nigerian Bottling Company, Kaduna
Hypothesis two was tested with Pearson’s product moment correlation in order to determine the extent
at which promotional strategy influences the sales volume of Nigeria Bottling Company in Kaduna State., with a
computed result (r = 0.716; p < 0.05), The null hypothesis was accepted and alternate hypothesis was rejected
EFFECTS OF MARKETING STRATEGIES ON ORGANIZATIONAL PERFORMANCE
International Journal of Business Marketing and Management (IJBMM) Page 8
resulting in the conclusion that there is no significant relationship between promotional strategy and sales
volume in Nigerian Bottling Company, Kaduna.
IX. CONCLUSION
This study concluded that marketing strategies (product, promotion, price and place strategies) does not
have important role and impact on organizational performance in Nigeria Bottling Company, Kaduna. In
essence, marketing strategies (product, promotion, and price and place strategies) are not useful tools for
survival, sustenance and expansion of Nigeria Bottling Company, Kaduna.
The study revealed that there is no significant relationship between product strategy and the level of
profit, there is no significant relationship between promotional strategy and the sales volume, there is no
significant relationship between price strategy and the market share and lastly there is no significant relationship
between place strategy and the level of customer loyalty in Nigeria Bottling Company, Kaduna.
The study revealed that the utilization of product strategies enhances the level of profit in Nigeria
Bottling Company Kaduna, product is anything that can be offered to a market for attention, acquisition, use, or
consumption that might satisfy a want or need, product is about quality, design, features, brand name and sizes
and these influences the level of profit of Nigeria Bottling Company, the use of promotional strategies enhances
sales volume in Nigeria Bottling Company and also that promotion usually provides target audiences with all
the accurate information they need to help them take decision.
Further conclusions of the study are that promotional media such as the use of television, radio,
newspapers and magazines facilitate an increase in sales volume in Nigeria Bottling Company, promotion is not
the function of information, persuading and influencing the consumers' purchase decision, haphazard pricing
techniques can not confuse and alienate customers and endanger the company's market share, price is important
because it regulates the economic system and influences the prices paid for all factors of production, price is an
important factor in building long-term relationships with customers, price is a signal of a product's or service's
value to an individual and different customers assign different values to the same goods and services, place
strategy influences customer loyalty of Nigeria Bottling Company products, place strategy encompasses all
decisions and tools which relate to making products and services available to customers and also that place
strategy calls for effective distribution of products among the marketing channels such as the wholesalers or
retailers. X. RECOMMENDATIONS
In view of the findings, the following recommendations are made:
i. Nigeria Bottling Company Kaduna should as a matter of urgency embark on more aggressive product
strategies so as to drive its products and servicesto the target market and to further improve thefirm’s level of
profit.
ii. Nigeria Bottling Company Kaduna should invest more in promotional activities to createawareness of its
products and services and enable the products sell in the market so as to increase the salesvolume of the
company.
References
[1.] Ambler, T., Kokkinaki, F., &Puntoni, S. (2004).Assessing marketing performance: Reasons for metrics
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For undergraduate courses on the principles of marketing. This introductory text to the world of Marketing uses a proven, practical, and engaging approach. It shows students how customer value-creating it and capturing it-drives every effective marketing strategy. Using an organization and learning design that includes real-world examples and information that help bring marketing to life, the text gives readers everything they need to know about marketing in an effective and engaging total learning package. The Thirteenth Edition reflects the latest trends in marketing, including new coverage on online, social media, mobile, and other digital technologies, leaving students with a richer understanding of basic marketing concepts, strategies, and practices. MyMarketingLab is not included. It is an online homework, tutorial, and assessment product designed to personalize learning and improve results. With a wide range of interactive, engaging, and assignable activities, students are encouraged to actively learn and retain tough course concepts. Table of Contents • Part 1: Defining Marketing and the Marketing Process o Marketing Creating Customer Value and Engagement o Company and Marketing Strategy Partnering to Build Customer Engagement, Value, and Relationships • Part 2: Understanding the Marketplace and Customer Value o Analyzing the Marketing Environment o Managing Marketing Information to Gain Customer Insights o Understanding Consumer and Business Buyer Behavior • Part 3: Designing a Customer Value-Driven Marketing Strategy and Mix o Customer Value-Driven Marketing Strategy Creating Value for Target Customers o Product, Services, and Brands Building Customer Value o Developing New Products and Managing the Product Life Cycle o Pricing Understanding and Capturing Customer Value o Marketing Channels Delivering Customer Value o Retailing and Wholesaling o Engaging Customers and Communicating Customer Value Advertising and Public o Relations o Personal Selling and Sales Promotion o Direct, Online, Social Media, and Mobile Marketing • Part 4: Extending Marketing o The Global Marketplace o Sustainable Marketing Social Responsibility and Ethics • Appendix 1. Company Cases • Appendix 2. Marketing Plan • Appendix 3. Marketing by the Numbers • Appendix 4. Careers in Marketing • References • Glossary • Credits • Index Endorsements 'A highly readable text which I enjoyed and students will enjoy too. The authors have produced a clear, well-organised, informative and interesting book which guides the reader through each concept, combining theory and practice in an engaging way. A valuable resource for any student of marketing.' Caroline Miller, Keele University ‘A great book that introduces students to the fascinating yet challenging world of marketing. The book is interspersed with interesting short case studies that significantly increase its relevance for European students and scholars alike.' Jaya S. Akunuri, University of East London 'The book's strength lies in the many international practical examples and real-world cases. Special attention to customer relationships, the creation of value and brand equity reflects well today's marketing requirements. A focus on the ever-increasing importance of new technologies makes this book invaluable for business schools – in the UK and abroad.' Ton Borchert, Hogeschool Utrecht University of Applied Sciences, The Netherlands About the authors Prof. Dr. Philip Kotler is S. C. Johnson & Son Distinguished Professor of International Marketing at the Kellogg School of Management, Northwestern University. He received his master s degree at the University of Chicago and his Ph.D. at M.I.T., both in economics. Dr. Kotler is author of "Marketing Management" (Pearson), now in its fifteenth edition and the most widely used marketing text book in graduate schools of business worldwide. He has authored dozens of other successful books and has written more than 100 articles in leading journals. He is the only three-time winner of the coveted Alpha Kappa Psi award for the best annual article in the "Journal of Marketing." Professor Kotler was named the first recipient of four major awards: the "Distinguished Marketing Educator of the Year Award" and the "William L. Wilkie Marketing for a Better World Award," both given by the American Marketing Association; the "Philip Kotler Award for Excellence in Health Care Marketing" presented by the Academy for Health Care Services Marketing; and the "Sheth Foundation Medal for Exceptional Contribution to Marketing Scholarship and Practice." His numerous other major honors include the Sales and Marketing Executives International" Marketing Educator of the Year Award; "The European Association of Marketing Consultants and Trainers "Marketing Excellence Award;" the "Charles Coolidge Parlin Marketing Research Award; "and the" Paul D. Converse Award, " given by the American Marketing Association to honor outstanding contributions to science in marketing. A recent Forbes survey ranks Professor Kotler in the top 10 of the world s most influential business thinkers. And in a recent "Financial Times" poll of 1,000 senior executives across the world, Professor Kotler was ranked as the fourth most influential business writer/guru of the twenty-first century. Dr. Kotler has served as chairman of the College on Marketing of the Institute of Management Sciences, a director of the American Marketing Association, and a trustee of the Marketing Science Institute. He has consulted with many major U.S. and international companies in the areas of marketing strategy and planning, marketing organization, and international marketing. He has traveled and lectured extensively throughout Europe, Asia, and South America, advising companies and governments about global marketing practices and opportunities. Prof. Dr. Gary Armstrong is Crist W. Blackwell Distinguished Professor Emeritus of Undergraduate Education in the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill. He holds undergraduate and masters degrees in business from Wayne State University in Detroit, and he received his Ph.D. in marketing from Northwestern University. Dr. Armstrong has contributed numerous articles to leading business journals. As a consultant and researcher, he has worked with many companies on marketing research, sales management, and marketing strategy. But Professor Armstrong s first love has always been teaching. His long-held Blackwell Distinguished Professorship is the only permanent endowed professorship for distinguished undergraduate teaching at the University of North Carolina at Chapel Hill. He has been very active in the teaching and administration of Kenan-Flagler s undergraduate program. His administrative posts have included Chair of Marketing, Associate Director of the Undergraduate Business Program, Director of the Business Honors Program, and many others. Through the years, he has worked closely with business student groups and has received several UNC campuswide and Business School teaching awards. He is the only repeat recipient of school s highly regarded Award for Excellence in Undergraduate Teaching, which he received three times. Most recently, Professor Armstrong received the UNC Board of Governors Award for Excellence in Teaching, the highest teaching honor bestowed by the sixteen-campus University of North Carolina system. Prof. Dr. Marc Opresnik Prof. Dr. Marc Oliver Opresnik is a Professor of Marketing and Management and Member of the Board of Directors at SGMI St. Gallen Management Institute, a leading international business school. In addition, he is a Professor of Business Administration at Luebeck University of Applied Sciences as well as a visiting professor to international universities such as the European Business School in London and East China University of Science and Technology in Shanghai. He has 10 years of experience working in senior management and marketing positions for Shell International Petroleum Co. Ltd.. Dr. Opresnik is the author of numerous articles and books. Along with Kevin Keller and Phil Kotler, he is co-author of the German edition of "Marketing Management", the "Bible of Marketing". Dr. Opresnik also was chosen to be the co-author with Phil Kotler and Gary Armstrong of the Global Edition of “Marketing: An Introduction”, which is one of the world’s most widely used marketing text books. In addition, he is co-editor and member of the editorial board of several international journals such as “Transnational Marketing”, „Journal of World Marketing Summit Group“ and „International Journal of New Technologies in Science and Engineering“. With effect from March 2014, he was appointed “Chief Research Officer” at "Kotler Impact Inc.", the internationally operating company of Phil Kotler. In addition, he was appointed “Chief Executive Officer” of the Kotler Business Programme, an initiative to enhance marketing education world-wide via online and offline learning with Pearson as global educational partner. As president of his consulting firm “Opresnik Management Consulting” (https://www.youtube.com/c/MarcOliverOpresnik; https://www.facebook.com/MarcOliverOpresnik; www.opresnik-management-consulting.de) he works for numerous institutions, governments and international corporations including Google, Coca-Cola, McDonald’s, SAP, Shell International Petroleum Co Ltd., Procter & Gamble, Unilever, L’Oréal, Bayer, BASF and adidas. More than 100,000 people have benefited professionally and personally from his impulses and experienced him as a coach in seminars on marketing, sales and negotiation and as a speaker at conferences all over the world including locations such as St. Gallen, Berlin, Houston, Moscow, Kuala Lumpur, London, Paris, Dubai and Tokyo. With his many years of international experience as a coach, keynote speaker and consultant, Marc Opresnik is one of the world’s most renowned marketing, management and negotiation experts. Purchase options: • Global Pearson site: https://catalogue.pearsoned.co.uk/educator/product/Marketing-An-Introduction-Global-Edition/9781292146508.page • Every amazon site such as • UK https://www.amazon.co.uk/Marketing-Introduction-Global-Gary-Armstrong-ebook/dp/B01D1YBKEQ/ref=sr_1_4?ie=UTF8&qid=1471023341&sr=8-4&keywords=opresnik • Japan https://www.amazon.co.jp/Marketing-Introduction-Global-Gary-Armstrong-ebook/dp/B01D1YBKEQ/ref=sr_1_1?ie=UTF8&qid=1471023652&sr=8-1&keywords=opresnik • India http://www.amazon.in/Marketing-Introduction-Global-Gary-Armstrong/dp/1292146508?ie=UTF8&keywords=opresnik&qid=1471023782&ref_=sr_1_6&sr=8-6
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