MARKETING SEGMENT AS A TOOL FOR ACHIEVING

MARKETING SEGMENT AS A TOOL FOR ACHIEVING ORGANIZATION SALES OBJECTIVES (A STUDY OF NIGERIA BOTTLING COMPANY PLC OWERRI IMO STATE).

ABSTRACT

It has been stated that production is not complete until the product reached to the final consumers. Consumption is the sole purpose of production, therefore it will only be beneficial for a company not to produce but to sell to profit margins. One of the ways of ensuring sales of manufactured goods is through market segmentation. This research project was therefore undertaken to study market segmentation as tool of achieving organizational sales objectives in Nigeria bottling company Plc Owerri Imo state. It was motivated by ways a company can segment its market with the aim of discovering the cause of downward shift in the market share of the company base on the analysis carried out.

The market segmentation is positively, related to sales turnover. Although the company has the problem of importing some of its materials, this does not reduce their sales turnover rather what reduces the firms sales turnover was the break down of their production machine.

TABLE OF CONTENT

Title page – – – – —— – – i

Approval page – – – – – – – ii

Dedication – – – – – – – iii

Acknowledgement – – – —— – iv

Abstract – – – – – – – – v

Table of content – – – – – – vi

CHAPTER ONE

1.0 Introduction – – — – — – 1-2

Background of the study – – – – 2-6
Statement of problems – – – – 6
Objective of the study – – — – 7
Research questions – – – – – 7
Significance of the study – – – – 8
Scope of the study – – – – – 9
Limitation of the study – – – – 9
Definition of terms – – – – – 10-11

CHAPTER TWO

2.0 Literature review – – – – – 12

Introduction – – – – – – 12

2.1 The concept of market segmentation — 12-18

2.2 Rational for segmentation market – – 18-22

2.3. Criteria for segmentation – – – – 23-26

Requisite for market segmentation – – 27-29

CHAPTER THREE

3.0 Research methodology – – – – 30

Introduction – – – – —– – 30
Research design – – – – – 31
Sources of data – – – – – 31
Population and sample size – – – 32
Sampling techniques – – – – 32-35
Validity and reliability of measuring instrument 35
Method of data analysis- – – – – 36

CHAPTER FOUR

4.0 Presentation and analysis of data – – 37

Introduction – – – – — – 37
Interpretation of data — — — – 37
Analysis of data – – – — — 38-39
Interpretation of results – – – – 39-46

CHAPTER FIVE

5.0 Summary of findings, conclusion and recommendations 47

Introduction – – – – – – 47
Summary of findings – – – — 47-49
Conclusion – – – – – – 50
Recommendations – — — – – 50-52

Bibliography – – – – – – 53

Appendix – – – – – – – 54

Questionnaire – – – — – – 55-57

CHAPTER ONE

1.0 INTRODUCTION

According to Stanton (1981:65) opined that market is defined as people with needs to satisfy, money to spend and willingness to spend it. In marketing demand have three factors to consider people with their needs, purchasing power and their buying behavior.

Segmentation is defined as the subdivision of a heterogeneous market into homogenous subset of customers, where any subset may conceived to be selected as a market to be researched with distinction marketing mix.

The above definition will lead to the definition of marketing segmentation according to Inyanga (1998:339), he stated that market segmentation is the process of dividing the heterogeneous (mass or divergent) market into homogenous sub-units so that each sub market could be satisfactory and profitably be saved by the business enterprise through the application of its marketing resources that could reach those separate segments as desire by the both parties.

The market segmentation induces a company to introduce product differentiation strategies to serve the needs and wants of each segment and sub segment.

Nigeria Bottling Company Plc uses this strategy to serve its customers, it use the product pictures and advertising. To convince the prospect buyers that its product are not different in outlook but better satisfying than the existing ones in the market. The product differentiation can be physical attributes like packaging, colour, size, weight, etc.

It can also be non physical attributed like product image, price, quality, durability and dependability.

1.1 BACKGROUND OF THE STUDY

The final basic for segmentation taken into account benefits the buyers may be seeking from a particular product. The company can therefore choose the benefits it wants to emphasize create a product that delivers it and direct a message to the group seeking that benefit. This stud enables us to find out the impact of segmentation to NBC towards the achievement of its sales objective. And also know whether they have competitors in the industry and know how they cope with their marketing programmes. We will also consider whether NBC uses product features and advertising to convince their prospect buyers.

FACTORS THAT INFLUENCE MARKET SEGMENTATION POLICY.

GEOGRAPHICAL FACTORS: This recognize that market environments differ from country t country in terms of government, regulations, economic conditions etc. therefore it deals with dividing the buyers into region states, nations, climate.
DEMOGRAPHIC FACTORS: The demographical factors, different groups are distinguished on the base of sex, age, family, life cycle e.t.c.
PSYCHOGRAPHIC FACTORS: the psychological from of or personalities times.
SUB-MARKET SEGMENATION: it consists of metropolitan or urban, semi-urban and rural areas. Meanwhile organizations undertaker that process of sub dividing large market into subset to achieve the following benefits.
It allows small firm with limited resources to compete effectively in one or few segments of the large market with it limited resources.
It enable firms develop specific product that really match the, market demand.
It must have be emphasized have that market can only be segmented if sufficient information of customer needs and more focuses decision making.
It helps organization develop specific marketing programme for each segment.

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