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Effect of Marketing Strategy

EFFECT OF MARKETING STRATEGY


CHAPTER ONE


Introduction

1.1 Background of the Study

Marketing is a widely used term to describe the means of communication between the company and the consumer audience. Marketing is the adaptation of the commercial activities and use of institutions by the organizations with a purpose to induce behavioural change on a short-term or permanent basis. The American Marketing Association most recently defined Marketing as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” The techniques used in marketing include choosing target markets through market analysis and market segmentation, as well as understanding methods of influence on the consumer behaviour. From a societal point of view, marketing provides the link between a society’s material requirements and its economic patterns of response. This way marketing satisfies these needs and wants through the development of exchange processes and the building of long-term relationships. In the case of non-profit organization marketing, the aim is to increase and deliver an ethos message about the organization’s services to the applicable audience. Governments often employ marketing to communicate messages with a social purpose, such as a public health or safety message, to citizens. On the other hand, marketing strategy is an action plan or a set of plans intended to achieve specific goals or objectives over a period of time. Marketing strategy is action plan on how an organization intends to achieve its marketing objectives. Shaw (2012) explained that strategy is a broad statement of the way which an organization sets out to accomplished its objectives.

Marketing strategy is therefore a process of strategically analysing environmental competitiveness and business factors affecting business units, and forecasting functional trends in business areas of interest to the enterprise (Scrizzi, 2007). Aaker (2008) defined marketing strategy as a process that can allow organization to concentrate resources on optimal opportunities with goals of increasing sales and achieving sustainable competitive advantage. Based on the foregoing statement, it can therefore be said that marketing strategy is an organisation’s strategy that combines all of its marketing goals into one comprehensive plan. It involves participating in selling business objectives and formulating corporate and business unit strategies. Marketing strategy involves all basic and long term marketing activities of an organization including strategic direction of the organization, formulation, evaluation and selection of market-oriented strategies that therefore contribute to the goals of the organization and its marketing objectives, which is to satisfy consumers profitably. The ultimate objective of any marketing strategy is consumer’s satisfaction without which no organization can meet its goals.


CHAPTER TWO

2.0 Literature Review

2.1 Introduction

The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …


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TABLE OF CONTENTS

PRELIMINARY PAGES


CHAPTER ONE

INTRODUCTION


    • 1.1 Background …

    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • 2.4 Empirical Studies
    • 2.5 Research Gaps
    • 2.6 Summary of Literature Review

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”


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