SALES PROMOTION AS AN EFFECTIVE TOOL FOR MARKETING OF CONSUMER PRODUCTS (A STUDY OF LIFE BREWERIES PLC ONITSHA)
This research work is an important study for life Brewery Plc, the study was motivated by the necessity to establish the emphasis which the company placed on sales promotion as an effective marketing tool used to increase the sale of the products as well as its effect on consumer attitude. To solve the research problem both primary and secondary data were collected. The research instruments used in collecting the data were questionnaires, oral interview and observation. The respondents comprised of the consumers of the consumers of the product in organizing and presenting data collected, tables, frequencies and percentages were answered.
The research revealed that the sales promotion techniques used by life Breweries Plc. Onitsha product like Savanna and Pineapple drink increases the company market share and also expose customer faster to the products. It is therefore recommended that the company should use other promotional tool such as advertising, personal selling and publicity in combination with sales promotion inorder to stimulate consumers patronage of its products.
1.1 BACKGROUND OF THE STUDY
The practice of sales promotion had been in existence of a longtime bit people by they, then smarthering had a same things ideas of what sales promotion was all about. Let us know what the word promotion is all about. This word is a compound word, and its activities make organisation to communicate directly with potential customers. the promotional element comprises of mix of tools available for the market called the promotional mix which consist of advertising, personal selling, sales promotion and publicity.
All these elements can be used to:
- Inform prospective buyers about the benefits of the product.
- Persuade them to try it.
- Remind them later the benefits they enjoy by using the product.
In this topic, sales promotion directly falls on marketing promotion of marketing mix.
According to Nwaizugbo (2004) marketing mix is the term that is used to describe the combination of the four inputs that constitute the core of a company’s market system of the product, the price structure, the promotional activities and distribution system (place). This is generally referred to as the 4ps (product, price, place and promotion). According to Olakunori (1999). Marketing mix is the term used to describe the combination of the basic controllable inputs that constitute the core of an organizations internal marketing system. This marketing mix is the tools that is been used to sell a company’s product or achieve the company selling objectives.
The relevance of marketing promotion include the following:
This marketing promotion helps to locate a consumer or product target.
- It helps to reduce the selling price of a product for it to be affordable.
- It helps to communicate to the product target on that product.
- It creates on awareness environment to the public.
- It is used to persuade or remind people or the public about an organisation on of individual goods.
In summary, promotion as we said earlier is a compound word and it comprises of advertising, personal selling, sales promotion and publicity. And sales promotion is designed to supplement advertising and co-ordinate personal selling. And it stimulates consumer purchasing and deal effectiveness such as displays, shows, exposition, demonstration and various non-recurrent selling efforts not in the ordinary routine.
SALES PROMOTION AS AN EFFECTIVE TOOL FOR MARKETING OF CONSUMER PRODUCTS
1.2 STATEMENT OF PROBLEM
Despite all the benefits derivable from sales promotion and the need to keep up with stiff competition in the market place, many organizations especially in developing countries still fail to accept sales promotion as a marketing tool to reckoned with.
Rather, sales promotion budgets have been regarded as a waste and a drain on their profits. Besides, critice of the marketing tool see it as on evil that has ended all rational thinking of the consumer whom sales promotion as a tool persuaded to buy what they do not really need or want.The researcher is faced with the broad problem of what life Breweries Company Ltd. Perceive sales promotion to be, and what direction the consumer perception and reaction to life Breweries has taken.
In this regard, the following questions contribute to some specific problems of the study.
- What is the sales promotion philosophy of life Breweries Company Ltd?
- Does sales promotion by the firm influence the consimers positive attitude towards new product and preference for the firms product?
- What image has sales promotion as a tool created in the consumers mind?
- What contribution has promotion made towards sales performance of a new products that has been manufactured and marketed by life Breweries.