INFLUENCE OF SALES PROMOTION ON CONSUMER BRAND LOYALTY A CASE STUDY IN OSHOGBO IN OSUN STATE
Need help with a related project topic or New topic? Send Us Your Topic
DOWNLOAD THE COMPLETE PROJECT MATERIAL
INFLUENCE OF SALES PROMOTION ON CONSUMER BRAND LOYALTY A CASE STUDY IN OSHOGBO IN OSUN STATE
Abstract
This study focused on the impact of sales promotions on consumer brand loyalty in Oshogbo, Osun state. The study’s entire population is 200 employees of lager beer in Osogbo, Osun state. The researcher employed questionnaires to collect data.
The descriptive survey research design was used for this investigation. The survey included 133 respondents who worked as production managers, marketing, senior staff, and junior staff members. The acquired data was organised into tables and analysed using simple percentages and frequencies.
Chapter one
Introduction
Background of the study.
Promotion is an important area of marketing activity that has had a significant impact due to the use of various incentives, most of which are aimed to encourage consumers to purchase specific items and services sooner or more frequently. In today’s marketing, organisations are concerned with what should be done to achieve a consistent level of sales.
This entails paying particular attention to how consumers can be motivated by techniques such as rewards, incentives, leadership, and, most importantly, the enjoyment they gain from sales promotions. Sales promotion is a critical component of marketing and one of the most essential communication factors in the marketing mix.
Marketing managers frequently combine sales promotion with advertising, personal selling, and public relations to improve the success of their promotional initiatives.
Sales promotion is possibly the most important element of the marketing mix. It can be defined as the short-term incentives provided by a firm to stimulate the purchase or sale of specific products.
According to Agbonifon BA et al. (1999), sales promotion is a broad term that refers to marketing activities other than personal selling and publicity that stimulate consumer purchasing and deal effectiveness, such as displays, shows and exhibitions, demonstrations, and other non-recurring selling efforts that are not part of the normal routine.
However, based on recent development, be it electronic, outdoor media like billboards usually placed on the side walks or the express ways, well posters, handbills, and so forth have contributed a lot to the prevalence of lots of commercial slots
usually either advertising some old or new in improved product or brands making announcement which seeks to draw public attention to some sales promotion currently going on and promoting mouth-watering, exciting, and highly fascinating
The increase in sales promotion by firms can be attributed to the Nigerian economy’s depression, which led to the implementation of the structural adjustment programme (SAP) in 1986 by General Babargida. The SAP aimed to restructure and diversify the economy’s productive base, reducing reliance on oil and imports.
Ensure fiscal and balance-of-payments viability in the medium run.
iii. Promote non-inflationary economic growth.
A key drawback of SAP is the current low consumer disposable income, which has resulted in very low patronage for industrial and consumer products. In general, some people believe that constant highly captivating and beautifully packaged sales promotion exercises allow consumers to expand their trails of these bands, products,
or services, and that with service trails, there may be brand, product, or service satisfaction and eventual conversion to that brand, product, or service. Others do not consider conversion because they believe that the “ONLY” effect of sales promotion is the positive push it has on consumers’ initial purchases, resulting in increased sales of companies, products, and services.
They also state that this influence on sales is temporary, everlasting, and will eventually and gradually fade away after the sales promotion operations for the brands, goods, and services are completed.
This study arose from a desire to determine the correct position of the influence and impact of sales promotion on consumer brand loyalty, employing star lager beer and Guineas extra smooth for the study.
Statement of the Problem
The purpose of this study was to look at the impact of sales promotions on customer brand loyalty, employing star lager beer and Guinness extra smooth consumers. Sales promotion is one of the tactics that a company can utilise to please its market while also increasing or maximising its revenues.
Although it assists a firm in advising its sales turnover, there are several issues that impede its success in the firm. Such problems are resources that will allow the organisation to meet the needs of its target market. Competition in the chosen market can also pose an issue for the organisation.
Many businesses lack the ability to understand the numerous consumer needs and differences that exist in their market. To flourish, a company must have a thorough understanding of the market and be able to devise methods to please the consumer of its product.
OBJECTIVE OF THE STUDY
The study’s aims are:
Determine whether sales promotion is effective enough to create demand and raise sales in a specific market area.
Determine the relationship between the firm’s sales campaign and turnover.
To provide significant suggestions for improvement in circumstances where sales promotions are not possible.
To determine which sales advertising tactics or techniques can convince consumers to try new products instead of not having the present ones.
To determine the relationship between sales promotions and consumer brand loyalty.
Research Hypotheses
The following have been proposed for testing.
H0: There is no association between sales promotion and the firm’s sales turnover.
H1: There is a relationship between sales promotion and the firm’s sales turnover.
H0: sales promotion is not sufficient to stimulate demand and grow sales in a specific market segment.
H1: sales promotion is effective enough to drive demand and raise sales in a specific market sector.
Significance of the Study
A research project of this nature is important because it aids in the careful analysis and evaluation of the impact of sales promotion on consumer brand loyalty adopted by lager beer.
It is also useful to upcoming organisations that wish to carry out sales promotion activities because it will assist them in realising their set goals. This study also seeks to identify the most successful sales promotional tactics for mobilising and ensuring active client engagement.
Finally, this study endeavour will benefit the following:
Manufactures
Marketing Managers
Research scholars
Scope and Limitations of the Study
The study’s scope includes the impact of sales promotion on consumer brand loyalty: a case study in Oshogbo, Osun state. The researcher faces various constraints that limit the scope of the investigation;
a) AVAILABILITY OF RESEARCH MATERIAL: The researcher has insufficient research material, which limits the investigation.
b) TIME: The study’s time frame does not allow for broader coverage because the researcher must balance other academic activities and examinations with the study.
1.7 Definition of Terms
A brand is a name, type, sign, symbol, or design, or a combination of these, used to identify and distinguish the goods or services of one or more sellers from those of competitors.
Brand Loyalty: A firmly held commitment to repurchase or patronise a chosen product or service in the future, despite situational pressures and marketing efforts that may lead to snitching conduct.
A consumer is someone who buys or utilises goods and services. It can also be defined as those who use or purchase a specific product for consumption. They are at the end of the distribution chain.
Competitions are situations in which people or organisations compete for something that everyone can have.
Consumer goods are those that directly meet human needs and desires. Consumer products are described by the American Marketing Association as goods that are intended for use by end users or homes and are in a form that allows them to be used without further processing.
Consumer analysis entails examining and assessing consumer characteristics, needs, and purchasing processes, as well as determining which consumer categories to target with marketing efforts.
Consumer education is the process of informing, orienting, guiding, and instructing consumers or future consumers so that they can make informed or smart decisions about the products or goods being promoted or sold to them.
Promotion: A series of connected activities or functions that are organised or integrated into programmes that enable the sale of products or services and contribute to a rise in ales or turnover.
Promotion planning entails communicating with consumers, the general public, and others through various forms of advertising, publicity, sales promotion, personnel selling, and direct marketing.
Promotion Mix: This refers to elements or tools such as sales promotion, personnel selling, advertising, public relations, and so on that are relevant in marketing or goods and services
and allow business firms and organisations to communicate their intentions, purpose, and marketing agencies, among other things, in order to ensure the survival, growth, and stability of their businesses.
Need help with a related project topic or New topic? Send Us Your Topic