ABSTRACT
This study is a research
in the evaluation of business strategies on commercial road transportation
companies in Enugu State.
The purpose of the study
is to unravel the reasons behind the neglect and the ineffective and
inefficient way business strategies have been applied in the road transport
sub-sector in Enugu State.
1.
To seek the evaluation of strategies that are being adopted by operators in the
sub-sector and at the end proffer outstanding ways to better the situation.
While carrying out the research, the data collection method adopted was the
questionnaires, the statistical tool used was chi-square. A total of sixty
questionnaire were distributed out of which fifty-one was returned. The
findings from the hypothesis is and research shows that, the pricing strategies
adopted by transporters had a large extent increase in customer patronage
especially the going market rte strategy.
The promotional mix elements used by the transportation organization had an
impact on customer patronage. Table 4.7 especially advertising and publicity.
Factors that affect the commercial road transporters are competition, high
operating charge, high cost of maintenance and government policy.
Table 4.1
Finally, recommendations was made in the research work at the end some of them
include:
1.
The operators in the sub-sector should apply more of sales promotion elements
such as discounts for those who travel two or more times with them in a week
plus contest and sweep stakes.
2.
The personnal of the firms should be trained and re-trained properly to give
the industry a fact life. This could be done through work shops, seminars and
symposia. The umbrella Union could handle it to reduce cost.
3.
The government should reduce further the high traffic charged on vehicles and
the service parts importation. Also the issue of roads rehabilitation should be
given consideration.
TABLE OF CONTENTS
CHAPTER ONE
Introduction
1.1
Background of the
study
1.2
Statement of the problem
1.3
Purpose of the
study
1.4
The Objective of the
study
1.5
Scope of the
Study
1.6
Research
questions
1.7
Research
hypothesis
1.8
Definition of
terms
References
CHAPTER TWO
Review Of Related
Literature
2.1 The
role of business in commercial road
transportation companies
in Enugu
State.
2.2
Business
Services
2.3
Formulating and Implementing business strategies in
Commercial road
transport
organization
2.4
Problems with implementing of business strategies
2.5
The Commercial road transport in Enugu
State
2.6
Features of services
Organizations
2.7
The Commercial road transport customers
References
CHAPTER THREE
Research Design and
Methodology
Research
design
Area of the
study
Population of the
study
Sample and sampling
techniques
Instrument for data
collection
Reliability of the Instrument
Validation of the
Instrument
Method of the data
collection
Method of data
analysis
References
CHAPTER FOUR
Data Presentation &
Analysis
4.1
Presentation and analysis of
data
4.2
Summary of
results
References
CHAPTER FIVE
Discussions,
recommendation and
conclusions
5.1
Discussions of Results &
Findings
5.2
Conclusion
5.3
Implication of Research
Findings
5.4
Recommendation
5.5
Limitation of the
Study
5.6
Suggestions for Further
Research
Reference
Bibliography
Appendix
1
Appendix II
CHAPTER ONE
INTRODUCTION
1.1
BACKGROUND OF THE STUDY
The purpose of every business organization is to make and provide valuable
products or services available to its consumers and in turn make profit. To
achieve this, the business must be properly aligned to identify the needs of
its customers and strategically, produced and deliver quality products and
service on feel time to its customers.
Strategic business plays a pivotal rule in order to achieve the above
objectives. Customer’s needs satisfaction come to play. If the firm does a good
job of understanding customers’ needs develop products and services that
provide superior value and prices, distributes, and promotes them effectively
the products or services will sell easily that is strategic business. To put it
more succinctly, it is a firm’s game. Plan to beat competition and have a good
share of the business.
In the commercial road transportation sub-sector therefore, the need to adopt
business strategies cannot be over-emphasized. This is because of the dynamism
associated with customer preferences over time. Transportation, which is
generally regarded as a service is very important in every economy. This is
because, it aids in the business of goods and services.
This include all activities directly concerned with the movement of persons and
goods from one point to another. The efficient and easy mobility of goods and
persons would be a large extent depend on the quality available means of
transportation. The colossal effect of poor transportation system in any
economy is better imagined, because not only would the people be faced with
services mobility problem but also their business and the nations economy would
face serious set back as there would be a decline in the contributions effected
persons would have made in the economic and social growth of the nation in
Enugu State, he Commercial road transporation business comprise of Enugu
transport company (ENTRACO) which operates in Intra City – Enugu to Umuahia to
Aba in that other order and Intra-city, Enugu- Lagos, Aba to Abuja in that
order also. ENTRACO is owned by Enugu State Government. There is also private
transportation company which also operate on Intra and Inter City bases.
Examples of private transportation companies in Enugu State include CHISCO Transport
Company. Young Shall Grow Company and IFEX Company. These two forms of
commercial road transport business ownership mentioned above operate
“paripassu”.
Within the state, though with slight differences in their services provisions.
For instance, ENTRACO operate to alleviate the sufferings of commuters provide
employment and at the same make some profit.
While the private owned ones has profit making as their cardinal objectives
whether overtlyt or covertly pronounced of the objectives of the firms, the
underlying factors to note is that business strategies are very vital for the
continual existence of the firms. In the light of the above, the marketing mix
elements otherwise called the four p”s include product price, place and
promotion have to be properly blended order to make significant impact in the
industry. Take for example price and promotion CHISCO transport company for
instace offers some snacks which is a form of sales promotion to its passengers
from Enugu to Lagos and other roles which it plays. The price the company
charge for such services is virtually the same charge by other firms in the
Industry. Similarly, there are other firms that provide television and video in
their vehicles for customers viewing pleasures as they convey them to their
destination. These are strategies though some modifications are needed to make
these more effective and efficient in attracting more customers patronage.
1.2
STATEMENT OF THE PROBLEM
In the commercial road transport sub-sector of the economy, it is disheartening
that strategic business has not been given its rightful place hence, the
general transportation problems of our economy lings on the inability of
operators to apply result oriented business strategy to combat competitions
which is in the industry. The strategy to be adopted on the type of service
rendered definition of the target market (segmentation) price and promotion in
relation to customer patronage, are some of the factors flats need to be explore
which will give insight on the type and nature of the general strategy to be
adopted by any firm in the industry. In the commercial road transport sector
and business strategy being haphazardly and or out rightly neglected in the day
activities of the firms in the industry has brought about poor patronage and
low productivity in the economy. The problems so far identified will be looked
into and solutions proper for them.
1.3
PURPOSE OF THE STUDY
a. This
study will seek to unravel the reasons behind the neglected or the effective
and efficient ways business strategies have been applied in the road transport
sub-sector forward.
b.
Due to customers preference changes over time, the researcher will seek to find
the effect of the such change on the strategies adopted by commercial road
transport operators and to make recommendations.
c.
It will also help to identify the strategies that are adopted by commercial
road transport operators.
1.4 THE OBJECTIVES
OF THE STUDY ARE AS FOLLOWS:
1.
To identify strategies that are adopted by commercial road transport operators
in any state.
2.
To determine the impact of the strategies on productivity.
3.
To find out the impression of customers
4.
To make recommendations and proffer solutions.
1.5
SCOPE OF THE STUDY
The study of the evaluation of the business strategy of commercial road
transportation companies is a very wide topic. The researcher could not
spread the investigation to cover the whole country, I view of the fact that
the time available is short. The study was, therefore limited to be the
(ENTRACO) Enugu State Transportation company that have their business situated
and operated here in Enugu State since the area covered in the study was Enugu
State only.
1.7
RESEARCH QUESTION
a. What
factors? Affects the commercial road transport.
b.
What promotional mix elements do commercial road transport use to get their
passengers attention?
c.
What customers services do commercial road transports offer to commuters?
d.
What pricing strategies/policies commercial road transports adopt to attract
patronage?
e.
What kind of service development strategies, do the commercial road transport
adopt to carter for the different classes of passengers?
1.8
RESEARCH HYPOTHESIS
HO1: There
is no relationship between price and passengers patronage.
HO1: There is a
relationship between price and passengers patronage.
HO2: There is no
relationship between promotional mix element and customers patronage.
HO2: There is a
relationship between promotional mix element and customers patronage.
HO3: There is no
relationship between services rendered in transit and customers patronage.
HO3: There is a
relationship between services rendered in transit and customers patronage.
1.9
DEFINITION OF TERMS
BUSINESS STRATEGY: It is
broad principles by which a business units expects to achieve it business
objectives in a target market. It could be defined as a game plan business
managers has for positioning the company in it chosen market arena, competing
successfully pleasing customers, and achieving good business performance.
COMMERCIAL: This term derived from commerce. It is act of
having or showing a desire to make a big profit without regard for other
consideration.
SERVICE: Any work carried out for others by an individual
or a group of individual where no transfers of goods involved.
CONSUMER CUSTOMER: These two are inter changeable in this study.
They are those two group of people who patronize the services rendered by an
organization.
CUSTOMER
SATISFACTION: This is the main aim or
business concept whereby a person buys a product or services for the
satisfaction will provide. That is the benefits.
TRANSPORT RATE
STRATEGIES: These are effort applied
by different commercial and transport organization to place a price or amount
to be paid for the services they render that could give them adequate level of
business.
Department | Business Administration and Management |
Project ID Code | BAM0078 |
Chapters | 5 Chapters |
No of Pages | 62 pages |
Methodology | Chi Square |
Reference | YES |
Format | Microsoft Word |
Price | ₦4000, $15 |
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Contact Us On | +2349067372103 |
Contact Us On | +2349094562208 |
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