ABSTRACT
Basically, NBC moffers different product to customers which in one
way or the other leads to the satisfaction of the desires of the customers.
Some objectives of this study
are;
· To
find out the role of segmentation in the marketing of NBC Plc products.
· To
find out if market segmentation of NBC Plc leads to increase customers
patronage.
Based on the above objectives,
the researchers used primary and secondary data. Secondary data are
collected from already done work like textbooks, dictionary, magazine etc. the
sample size for the consumer was derives using borhey’s formular while
census was used for relevant staff and wanyement.
The data collected when analyzed
using tables, frequencies and percentages. The analyzed data gave the
following finding that market segmentation practice of NBC Plc leads to
increased patronage of their products.
Market segmentation practice of
NBC Plc leads to increase in profit of the organization.
The researchers came up with
the following recommendations.
· NBC
should stick to segmentation of their products because it increase their
profit.
· NBC
PLc is advised to practice marketing segmentation because it reduces cost of
operations.
The researcher concludes that
market segmentation not only help in serving the customers better but also
increase the profit of the organization.
1.1
Background of the study
1.2
Statement of the problem
1.3
Objectives of the study
1.4
Formulation of hypotheses
1.5
Significance of the study
1.6
Scope of the study
1.7
Limitation of the study
1.8
Definition of terms
2.1
An overviews of segmentation
2.2
Objectives of market segmentation
2.3
Segmentation criteria
2.4
Conditions for effective market segmentation
2.5
Evaluation of market segmentation
2.6
Impact of segmentation on customers satisfaction
2.7
Segmentation in NBC plc
3.0
Research methodology
3.1
Sources of data
3.2
Research instruments used
3.3
Population of the study
3.4
Sampling techniques
3.5
Determination of sample size
3.6
Method of questionnaire administration or distribution
3.7
Limitation of the study
4.0
Presentation, analysis and interpretation of data
4.1
Presentation and analysis of data
4.2
Test of hypotheses
5.0
Summary of findings, recommendations and conclusion
5.1
Summary of findings
5.2
Recommendations
5.3
Conclusion
Bibliography
Appendix
CHAPTER ONE
1.1 BACKGROUND OF THE STUDY
In this modern and dynamic world, marketers look at the overall
market as a body consisting of many smaller parts whose elements have some
common characteristics.
They are mostly district from
the entire market. For marketers entering a market, the total market must
be divided into segment or division being similar character of wants and need
or behaviours. This therefore, results to designing its own program,
which will be developed for its best satisfaction.
Adirika, Ebuen Nnohu (1997:40)
noted that most marketers are two large for an organization market.
According to Edoga and Ani
(200:18) market segmentation is defined as the process of dividing the total
market into several relatively homogenous groups with similar product
interest. This process according to them requires marketers to identify
factors that effect purchasing decision so that consumer can be grouped
accordingly.
Adirika, Ebue and Nnohm
(1997:30) sees marketing segmentation as the subdividing of a heterogeneous
market into homogenous subset, groups of customers so that each subset
can conceivably be selected as a separate market target to be reach with a
district marketing mix. They further noted that in practicing
segmentation and consequently target marketing, organization endeavour to serve
target markets that they are able to satisfy efficiently and effectively, and
not just any group of buyers that seems to represent a sizeable market.
These includes the marketing of
drinks.
Adirika (1992,2.9) believes
that the battles for the heart, mind and pocket book of the customers will be
won by a block by block store by purchase, by purchases bases. This
strategy is based on the premise that customers have different test which
change over time and that these customers and variety (customization) every
organization including Brewery industrial must make decision on two areas of
needs:
· What
needs to serve and
· Whose
needs to serve.
Udeagha (199 – 86) believes
that market segmentation is disaggregate in its several demand schedules where
only one was recognized before market segmentation, this is a device which is
used in assisting management to divide a given total market demand into sets
that are relatively homogenous and have certain specified market segmentation
is customer oriented, and hence, it is consistent concept. In segmenting,
we first identify the needs and wants of customer (consumers) within a
sub-market and then decide if it is practical to develop a marketing mix to
satisfy those wants.
Nigerian Breweries is one of
the heading companies is soft drink industry, the company has assorted soft
drinks in the market to serve different needs of their customers.
Although the company have been
doing well but there is a lot to be done in terms of satisfying all the
segments of the market.
Management can do a better
marketing job and make more efficient use of its resources by tailoring
marketing programmes to individuals market segments.
In view of proliferation of
soft drink industry is Nigeria today and the ever changing needs of consumers
theme is need for Brewery industry including NBC Plc to study and implement
market segmentation for increased customers satisfaction.
1.2 STATEMENT
OF THE PROBLEM
The Nigeria Bottling company
Plc is a leader in soft drink market in Nigeria. The company has several
brands of soft drink which are being market to their customers. In order
to satisfy their customers, they have resorted to segmentation.
Segmentation has been the main
important marketing tool used by organizations including the soft drinks
industry to achieve their marketing objectives. NBC Plc is not an
exception.
However it has been discovered
by customers that NBC do not effectively solve segments of the market this
could be attributed to lack of efficient segmentation of the market.
Most often customers who go to
market to get NBC product find that they are readily available. This
one’s that are available is not within the reach of the customers. Some
segments of the markets would meal sugar free soft drinks but this is not
available. All these no doubt have effective the patronage of customers
and company’s profit. In this study the researcher work at segmentation
as a two for NBC customers satisfaction.
1.3 OBJECTIVES
OF THE STUDY
In order to solve the problems
identified above. The following objectives were formulated.
To find out the role of
segmentation in the marketing of NBC products.
To determine the impact of
market segmentation on increase profit of NBC Plc.
To find out if market
segmentation of NBC leads to increase customer patronage.
To determine if customer are
satisfied with the market segment strategies of NBC Plc.
To find out the advantages of
market segmentation of NBC products.
1.4 FORMULATION
OF HYPOTHESIS
Hypothesis is a tentative
statement about the universe which may or may not be truth. For the
purpose of this work, the following hypothesis will be tested.
Ho: Market segmentation of NBC Plc
does not lead to increased customer patronage
Hi: Market segmentation of NBC
Plc lead to increased customer patronage.
Ho: Market segmentation of NBC Plc
does not lead to increased profit of the organization.
Ho: Market segmentation of NBC Plc
lead to increased profit of the organization.
Ho: Market segmentation of NBC Plc
does not lead to efficient use of limited resources of the Banks.
Ho: Market segmentation of NBC Plc
lead to efficient use of limited resources of the Banks.
Ho: Customer are not satisfied with
market segmentation been practiced by NBC Plc.
Hi: Customer are satisfied
with market segmentation been practiced by NBC Plc.
1.5 SIGNIFICANCE OF THE STUDY
As the marketing environment is ever changing, a market continues
to strive for perfection (Novelty) marketing which is a human / idea oriented
discipline cannot do with out idea generation. Implicitly as more ideas
and products come into being so as the problem of entering the target market
and satisfying consumers effectively and efficiently.
This study on market segmentation on customer satisfaction will
benefit the following.
The ease organization – the study will enable NBC known how to
satisfy their customers very well.
It will help other related companies on how segmentation will help
them improve on their offerings.
The study, will be equally beneficial to readers and researchers
as the findings will wider their knowledge in research writing and equally
serve as a source of literature review.
1.6 SCOPE OF THE STUDY
The Nigeria bottling company Plc (NBC) can be qualified as a big
wail operating in small pond. This research works covers the company
operations within Enugu metropolis.
1.7 DEFINITION OF TERMS
Certain words have been used in this write – up and they need to
be defined as they are related to the research topic:
SEGMENTATION: This is the process of sub – dividing a
heterogeneous market into homogenous subset or group of customers so that each group
can conceivably be selected as a separate market target to be reached with a
district marketing mix.
MARKETING SEGMENT: This is a unique group, which has all its
segmentation variables and characteristic.
SAVINGS SEGMENT: This group falls under the lower group, they are
the lower income earners.
STRATEGIC MARKETING: Is described as STP marketing namely –
segment target marketing and positioning.
PRODUCT POSITIONNING: It is the act of establishing a variable
completive positioning of the firm and its offer in each target market.
RIFFLE APPROACH: This is an act of focusing all marketing efforts
on the buyer why they have the greater change of satisfying.
SEGMENTATION VARIABLES: This include: Geographic, Behavioural,
Demographic and Psychographics to consumer market. While to industrial
market, it include Demographic, Operating, Purchasing a approaches, situation
factors and personal characterize.
Department | Marketing |
Project ID Code | MKT0090 |
Chapters | 5 Chapters |
No of Pages | 87 pages |
Methodology | Chi Square |
Reference | YES |
Format | Microsoft Word |
Price | ₦4000, $15 |
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