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Project Topic:

AN ASSESSMENT OF MARKETING ENVIRONMENT (A CASE STUDY OF AGATU L.G.A, BENUE STATE)

Project Information:

 Format: MS WORD ::   Chapters: 1 - 5 ::   Pages: 74 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   19 people found this useful

Project Department:

MARKETING UNDERGRADUATE PROJECT TOPICS, RESEARCH WORKS AND MATERIALS

Project Body:

CHAPTER ONE

INTRODUCTION

BACKGROUND OF THE STUDY

The success of any business organization depends on supportive institutions. In other words, business organization remains and operates within an environment where there is complex interplay in terms of activities as well as networks of relationship between and among human resources, material resources and other systems (Oginni, 2010). All business decisions are found to be contingent upon a good analysis of the environment which is often the bane of all the constraints as this environment creates the opportunities, threats and problems for the business organization (Aborade, 2005). Evolving from this is the belief that business organization is an integral part of its environment on the ground that they are mutually interdependent and exclusive where the environment plays the role of providing the resources and opportunities to organization for its existence, and the business organization in turn, offers its goods and services to the people living in the environment for survival and enlightenment (Ajala 2005). The political business environment includes all laws, government agencies, and groups that influence or limit other organizations and individuals within a society. It is however important for marketers to have full awareness of these restrictions as they can be complex. Therefore, marketers need to monitor the changing political business environment because political change can profoundly affect a firm's marketing plan. Adi (2006) established that the most important sole influence on organizational policy and strategy at any point in its development is the environment, both within and outside the organization. In the same vein, Akanji (2010) was of the opinion that the more complex, turbulent and dynamic an environment becomes, the greater the impact on human attitudes, business, organizational structure, market and process as well as facilities, therefore there is need for all organizations to direct their attention to the environment and most especially political rules and regulation, when formulating their strategic management policies in order to facilitate their survival, growth and profit motives. However, the relationship that exists between political marketing environment of business organisations and performance remain controversial and open to further research. As Stanton and Miller, [2010] „Marketing is a whole system of economic activities related to pricing, promotion, distribution of products and services designed to meet the requirements of actual and potential consumers“. As Marcu, Semenescu and Ioana, [2014] gave the complete definition of marketing and take into account that marketing is related more to the concept and is a matter of attitude and action. Marketing concept or vision is addressing to marketing as a system of ideas in order to satisfy the customers and consumers. "On the most general plan, conceptual approach to marketing is done through marketing policy. Marketing policy is a concept that integrates the functions of the enterprise with which they can reach their market through the mobilization and allocation of all resources for this purpose [Bruce A, Longton K, 2010] The concept of marketing policy and his role in market economy can be understood only if it takes into consideration the following key elements [Fanlkener C, Browman K 2011]:  Defining the position on the market that the company will have in balance with the competition;

  • Fixing the perception of the company on the market.
  • Making a balance between turnover and profit rates and expenses as a condition for surviving on the market. 
  • Determine the optimal reports between offer and what is the company actual doing on the market with internal and external sources. 
  • Relationships that are established between all the participants to the company life and marketing policy.

Marketing policy can be: 

  • General – When takes into account entire marketing strategy at corporate level;
  • Specific – when has specific points related to objectives and specialized points of view from the expertise.

In the actual economical market conditions, a company cannot survive and evolve only if have efficient relations with all the economic factors from the areas it is performing, first of all with their consumers.

STATEMENT OF PROBLEM

Interestingly, the marketing environment affecting business organisations arise from marketing instability which is perceived to have a high significant impact on business survival. Similarly, harsh legislation such as the minimum wage or anti discrimination laws affects business survival. This is manifested in the government regime e.g. communist, democratic, and dictatorship thus affecting business performance and survival. Also, poor legislation such as the minimum wage or anti discrimination laws affects business performance. The high tax levies and tax breaks significantly affect business survival. This study is therefore to assess the marketing environment in Agatu L.G.A, Benue state.

AIMS AND OBJECTIVES OF THE STUDY

The major aim of the study is to assess marketing environment. Other specific objectives of the study include;

  1. To examine the nature of marketing environment in Agatu L.G.A, Benue state.
  2. To examine the forces within the company that affects its ability to serve its customers.
  3. To examine the impact of marketing environment in Agatu L.G.A, Benue state.
  4. To examine the factors affecting marketing environment in Nigeria.
  5. To examine the relationship between marketing environment and business performance in Agatu L.G.A, Benue state.
  6. To recommend strategies for firms to build and maintain successful customer relationships

RESEARCH QUESTIONS

  1. What is the nature of marketing environment in Agatu L.G.A, Benue state?
  2. What are the forces within business firms that affect its ability to serve its customers?
  3. What are the impacts of marketing environment in Agatu L.G.A, Benue state?
  4. What are the factors affecting marketing environment in Nigeria?
  5. What is the relationship between marketing environment and business performance in Agatu L.G.A, Benue state?
  6. What are the strategies for firms to build and maintain successful customer relationships?

RESEARCH HYPOTHESES

HYPOTHESIS 1

  1. There is no significant impact of marketing environment in Agatu L.G.A, Benue state.
  2. There is a significant impact of marketing environment in Agatu L.G.A, Benue state.

HYPOTHESIS 2

  1. There is no significant relationship between marketing environment and business performance in Agatu L.G.A, Benue state
  2. There is a significant relationship between marketing environment and business performance in Agatu L.G.A, Benue state

SIGNIFICANCE OF THE STUDY

This work will be important to the marketers, business organizations because marketing as a modern field of knowledge affects everyone, irrespective of the fact whether one is citizen, a customer or a member of the work-force. Marketing pervades every aspect of life: It manages demand for product, generates consumer’s enthusiasm, and maximises consumer satisfaction. It provides ample opportunities and thus it delivers standard of living to the society and maximises life quality. Marketing plays a critical role in respect of underdeveloped countries. Indeed marketing is the most important "multiplier' of development. Its development makes possible economic integration and the fullest utilisation of whatever assets and productive capacity an economy already possesses. It mobilizes latent economic energy. It contributes for the rapid development of entrepreneurs and managers, and above all for the greater satisfaction of human needs. This research work will be used for academic purpose, therefore assisting in providing literature in new areas marketing.

SCOPE AND LIMITATION OF THE STUDY

The study is restricted to assessment of marketing environment in Agatu L.G.A, Benue state

LIMITATION OF THE STUDY

Financial constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview)

Time constraint: The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.

DEFINITION OF TERMS

Marketing: The management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P's of marketing: (1) identification, selection and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customer's place, and (4) development and implementation of a promotional strategy.

Environment: Is the sum total of conditions that surrounds us at a given point of time and space. It is comprised of the interacting systems of physical, biological and cultural elements which are interlinked both individually and collectively. Environment is the sum total of conditions in which an organism has to survive or maintain its life process. It influences the growth and development of living forms.

Marketing Environment: Is a marketing term and refers to factors and forces that affect a firm's ability to build and maintain successful customer relationships.

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