MARKETING SEGMENTATION: A TOOL FOR ACHIEVING ORGANIZATIONAL SALES OBJECTIVE (A Case Study of Nigeria Bottling Company Plc Owerri, Imo State).
ABSTRACT
It has been stated that production is not complete until the product reaches the hands of the final consumer. Promotion is the sole purpose of production, therefore, it will only be beneficial for a company not only to produce but promote so as a profit margin. One of the ways of ensuring sales of manufactured goods is through market segmentation. This research work was therefore undertaken to study market segmentation as a tool of achieving organizational goal objective in Nigeria bottling company (NBC) plc Owerri Imo State. It was motivated by the desire to study the basic different ways a company can segment its market, with the aim of discovering the causes of downward shift in the market share of the company. Two sources of data were used. They are primary and secondary source. Questionnaires were used as a research instrument to make up for the available data from the other two sources. Chi-square (x2) test was used for the proofnesses testing. Based on the analysis, we saw market segmentation is positively related sales turn over. 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 and sales turnovers was the breakdown of their production machine. Since the company records little or no customers returns of purchased goods, it could be deduced that regulation sales and sales turnover of the firm was not caused by the quality of the drinks they produce. It was also found that company does not serve the entire country from one central plant but rather they serve though the establishment of plant in very states of the federation deport where in it becomes impossible for production plant. Respondents also indicated that they employ segmentation variables in its market. Based on the findings, the following recommendations were made. The researcher recommended that the firm NBC plc in particular and Nigeria organizations in general showed adopt market segmentation and use its strategies effectively to ensure increase the turnover and satisfy and chosen segment well. In the case of NBC, they should select a particular segment like one age group (say-between 20 and 30) and a even social class so that they focus attention and resources to that segment. The researcher also recommends that the company should adopt to the different market segment with different promotional strategies in order to fully lap the contials of each segment very well and satisfy the consumer in the chosen segments
TABLE OF CONTENTS
Title page = = = = = = = = i
Approval Page = = = = = = = = ii
Dedication = = = = = = = = iii
Acknowledge = = = = = = = = iv
Abstract = = = = = = = = = v
Table of Content = = = = = = = vi
CHAPTER ONE
1.0 Introduction = = = = = = =1-2
1.1 Background of the Study = = = = =2-4
1.2 Statement of the Problems = = = =5
1.3 Objectives of the Study = = = = =5
1.4 Research Question = = = = = =6-7
1.5 Significance of the Study = = = =7
1.6 Scope of the Study = = = = = =7
1.7 Limitation of the Study = = = = =8
1.8 Definition of Terms = = = = = =9-10
CHAPTER TWO
2.0 Literature Review = = = = = =11
2.1 concept of market segmentation = = =12-16
2.2 Rational for segmenting markets = = =17-20
2.3 Criteria for segmentation = = = =20-23
2.4 Requisite for market segmentation = = =23-24
2.5 The process of segmentation = = = =24-27
2.6 Objectives of market segmentation = = =27-28
References= = = = = = = =29
CHAPTER THREE
3.0 Researcher Methodology = = = = =30
3.1 Introduction = = = = = = =30
3.2 Research Design = = = = = =30
3.3 Sources/Methods of Data Collection = =31
3.4 Population and Sample Size = = = =31
3.5 Sample Technique = = = = = =32
3.6 Validity and Reliability of
Measuring Instrument= = = = = =33
3.7 Method of Data Analysis = = = = =34
Reference = = = = = = = =35
CHAPTER FOUR
4.0 Presentation and Analysis of Data = = =36
4.1 Introduction = = = = = = =36
4.2 Presentation of Data = = = = =36
4.3 Analysis of Data = = = = = =37-42
4.4 Interpretation of Results = = = = =43-44
CHAPTER FIVE
5.0 Summary, Conclusion and
Recommendations= = = = = = =45
5.1 Introduction = = = = = = =45
5.2 Summary of Findings = = = = =45-46
5.3 Conclusion = = = = = = =46-47
5.4 Recommendations = = = = = =47-49
References = = = = = = =50
Appendix = = = = = = = =51
Questionnaires = = = = = = =52-56
CHAPTER ONE
- INTRODUCTION
Marketing segmentation can be defined as the subdivision of the total heterogeneous market into subset. It is the means by which firm’s increases there sales objectives by identifying the market segment that offers the best advantage in the face of others. Market segmentation is the process of dividing the heterogeneous sub-units so that each sub-market could be satisfactorily be served by the business enterprises through the application of its marketing resources that could reach these separate segment a as desired by both parties.
The market segment includes a company to introduce product differentiation strategies to save the needs and wants of each segments and sub-segment. Nigeria bottling company (NBC) Plc uses the product features and advertising to convince the prospective buyers that its product are not different in outlook but better satisfying 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 attributes like product image, price, quality, durability and dependability.
The Factors that Affect market segmentation policy are: