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PROJECT TOPIC AND MATERIAL ON THE RELEVANCE OF MARKETING PLANNING IN ACHIEVING THE BUSINESS GROWTH OF DEALERS OF ELECTRONICS IN IMO STATE (A STUDY OF SELECTED DEALERS OF ELECTRONIC IN OWERRI METROPOLIS)
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- Name: THE RELEVANCE OF MARKETING PLANNING IN ACHIEVING THE BUSINESS GROWTH OF DEALERS OF ELECTRONICS IN IMO STATE (A STUDY OF SELECTED DEALERS OF ELECTRONIC IN OWERRI METROPOLIS)
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The topic of this research work is the relevance of marketing planning in achieving the business growth of dealers of electronics in Imo state (a study of selected dealers of electronic in Owerri metropolis).
Chapter one focuses on the introductory aspect of this work, e.g. problems of the topic, objectives of the research, and research hypothesis. The review of different writers’ opinion on this research work constitutes chapter two, which is the literature review, it goes further to examine the relevance of marketing planning for the profitability of dealers of electronics. Under this chapter, different types of planning and the benefits of planning were also looked into.
Chapter three deals with the research methodology, this covers the method used in the collection of both primary and secondary data, presentation, analysis, interpretation of data and testing of hypothesis is dealt in chapter four.
The chapter five attempts to make some suggestion and valuable recommendation essentially to dealers of electronics which, if properly implemented, will go a long way in helping the electronics dealers in the area of marketing planning.
TABLE OF CONTENTS
Table of contents
1.1 Overview of the study
1.2 Statement of the problem
1.3 Purpose of the study
1.4 Research questions
1.5 Statement of hypothesis
1.6 Significance of the study
1.7 Scope and Limitations of the study
1.8 Operational Definition of terms
2.0 Literature review
2.2 Nature of Marketing Planning
2.3 Qualities of a good marketing plan
2.4 Essence of marketing plan
2.5 Problem of marketing plan
2.6 Specific planning procedure
2.6.1 Situation analysis
2.6.2 Alternative goals and plans
2.6.3 Goals plan and evaluation
2.6.4 Goals and plan selection
2.7 Levels of planning
2.7.1 Strategic Planning
2.7.2 Tactical Planning
2.7.3 Operational Planning
2.8 Types of marketing planning
2.8.1 Bottom-Up Planning
2.8.2 Top-Down Planning
2.9 Benefits and Marketing Planning
2.10 Strategic Marketing Planning
2.11 Importance of Strategic Marketing Planning
2.12 Strategic Marketing Planning Process
3.0 Research design and methodology
3.2 Research design
3.3 Data collection method
3.4 Population study
3.5 Sampling Procedure
3.6 Research instruments
3.7 Validation of research instruments
3.8 Description of data analysis method
Presentation analysis and interpretation of data
4.1.1 Questionnaire administration
4.2 Presentation analysis and interpretation of data
4.3 Interpretation of findings
5.0 Summary of finding, conclusion and recommendation
5.1 Summary of findings
1.1 OVERVIEW OF THE STUDY
One of the main reasons for conducting both internal and external analysis of a firm is to gain insight into the organizations fast and present activities, gains and losses, strengths and weaknesses as well as threats and opportunities within and around the business environment.
Thus planning if properly done should stimulate new ways of assessing the business and also generate new strategy option. Hence, the essence of the exercise is to provide the manager with the information needed for effective marketing planning and controls as it is indispensable for the realization for the company’s goals and objectives.
Kootnz and O’ Donnel (1976) opined that planning means deciding in advance what to do, how to do it and who is to do it. In other words, planning bridges the gap between where we are and where we want to be.
Anozie (2003) defined marketing planning as the process of deciding in the present what to do in the future which requires that an organization reconciles its resources with its objectives and the alternative course of action that are open to it.
Marketing planning is always accompanied by rigorous system of marketing control.
Effective control requires integrated standards, comparing results against standards, utilizing measurement devices and procediures as well as adjusting programes on result basis control (which has its origin from plans as plans serve as the bedrock for the development of control) has been defined by various scholars thus: Njemanze (2007) defined control as the process of taking the necessary preventive or corrective actions to ensure that the organization’s mission and objectives are accomplished a efficiently and effectively as possible.
Mccarthy (1975) also defined control as the feedback process that helps the marketing manager to elarn how ongoing plans are working and how to plan for the future.
In simple terms, control in business enterprise enable firm to ascertain what activities should be considered thereby inveighing the level of success or failure of the company as regards attainment of the company’s goals and objectives. Recently, detailing in Imo State and Nigeria as a whole has recorded high growth due to the proliferation of new retailing firms. This has thus, intensified competition, which has threatened the existence of many retail institutions (dealers of electronics); especially the small ones.
Nonetheless, one of the key factors for the non performance of firms is as a result of lack of planning and control. It is a known truth that firms that do not plan, plan to fail. Hence, there is need for these firms to embrace marketing planning not only in theory, but in pratice.
1.2 STATEMENT OF THE PROBLEMS
It is still a mirage to find out that quite a large number of organization in Nigeria and specifically the small and medium scaled have not till now imbibed the culture of planning in their marketing operations despite the fact that past studies of experts have stressed its importance in the attainment of organization objectives in the short run and long run. No wonder firms in Nigeria hardly survive the intense battering of the turbulent business environment.
The success of an organization is determined by the quality of its decisions and for the decision to be effective market planning is inevitable. Planning does not involved just a couple of haphazard thinking or wishful guesses, but a consciously and cautiously laid down procedure backed up with emphasis and resources. Although, planning is though of only to address the question of “WHAT; HOW, WHERE, WHEN AND WHO, this is a narrow view of planning. In the real sense of it, planning involves quite a number of activities. For instance, there is no how a manager will think of planning without carrying out a situational analysis subsequently, there is no way planning can be done without implementation” and control”.
Most managers who claim to plan there marketing activities only do so narrowly and do not incorporate the broad perspective of planning. It is for the reason that the study was undertaken to investigate the even marketing planning affects the performance of dealers of electronics in Imo State.
1.3 PURPOSE OF THE STUDY
The study was primarily conducted to investigate the extent marketing planning affects business performance of electronic dealers in Imo State. More so, it determined further, the following specific objectives.
In the relevance of environmental assessment in goal attainment of dealers of electronics.
2- The essence of planning in achieving the marketing growth of electronic dealer
3- How marketing implementation affects the business objective of electronic marketers.
4- The benefits of marketing control in the attainment of business technology interfere in the relationship between marketing planning and business growth of dealers of electronics.
1.4 RESEARCH QUESTION
1- What is the relevance of environment assessment the goal attainment of electronic dealer?
2- Of what essence is planning in achieving the marketing growth of electronic retailers?
3- How does marketing implementation of fact the business objectives of electronic marketing?
4- What is the benefit of marketing control in the attainment of business growth in the electronic retailing industry?
5- Do moderating factors (Government policy, competition, technology etc) interfere in the relationship between marketing planning and business growth of dealers of electronics?
1.5 STATEMENT OF HYPOTHESIS
HO1: Marketing planning does not contribute significantly to the business growth of electronic dealers.
HO2: Moderating factors do not interfere in the association between marketing planning and business growth of the electronic retailing industry.
1.6 SIGNIFICANCE OF THE STUDY
Marketing planning has been neglected for quite a long period of time in various establishment especially in the small scale firms among which are electronic dealers in Imo State.
As a result, this research work will enable these firms to appreciate and apply marketing planning measures in their operations. Furthermore, the study will also serve as a sources of information (secondary data) to both students, institutions and other researcher who would want to investigate on related topics.
Finally, the study will also effectively educate the researcher on the relevance of marketing planning in electronic industry as well as other, industries in Imo State.
1.7 SCOPE AND LIMITATIONS OF THE STUDY
The extent of coverage of the study is defined within the frame of the topic, the relevance of marketing planning in achieving the business growth of dealers of electronics in Imo State.
In the course of the investigation, the researchers was faced with some constraints that impinged on the success of the investigation such constraints include;
TRANSPORTATION: As a result of the motor bike ban it was a bit difficult for the research to transport himself round the metropolis of Owerri.
FINANCE: This was also another constraints the researcher faced, money to visit the firms under study, browse the internet , consult the libraries etc so as to gather the necessary and relevant information needed
ACCESSIBILITY: The researcher was unable to gain easy access to the administrative staff of the firms in order to gather the necessary and relevant information needed as it relates the problem at hand.
1.8 OPERATIONAL DEFINITION OF TERMS
ENVIRONMENT: This simply means those factors that are both internal and external to the dealer marketing activities which to a large extent affect its operations.
STRENGTH: This can be referred to as those areas of advantage of an electronic dealer in a competing environment.
WEAKNESS: This can be described as those areas of disadvantage of an electronic dealer in a competing environment.
OPPORTUNITY: This is seen as a favourable trend which a dealer can take advantage of in order to increase its sales and profit level.
THREAT: This is referred to as those challenges posed by an unfavourable trend or development which in the absence of appropriate defensive action, would erode or reduce sales and profit level.
SITUATIONAL ANALYSIS: This can be described as the act of unreithing the prevalent situation of an electronic dealer and ascertaining what activities that needs to be embarking on in order to harmonize expectation with results.
MARKETING: This can be described as the performance of business activities designed to plan, price, promote and distribute want satisfying products or services to the actual and potential buyers through the process of exchange.
CONTROL: This can be referred to as those efforts made in order to ensure that results conform to set organizational standards and that derivations are rightly correct and in time.
GOAL: This seen as the end towards which on activity is aimed.
PLANNING: This is the procedure of determining in advance especially what needs to be done in order to achieve electronic dealer set goals, how it should be done, when and where it should be done, as well as who should do it.
MARKETING PLANNING: This is the process of anticipating future events and conditions and determining the course of action in achieving the necessary objectives.
RETAILING: This is all activities involved in selling of goods or servies directly to final consumers for their personal, non business use”.
RETAIL INSTITUTIONS: This involves banking institutions that are involved here.
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