Marketing Of Industrial Products In A Competitive Marketing Economy

 Marketing Of Industrial Products In A Competitive Marketing Economy(A Case Study Of Berger Paint Plc)

Abstract

          The aim of the study is to access the marketing of industrial of industrial in a competitive market economy. This was done by gathering some relevant information from producer and distributors of the said product. Defining certain problems usually associated with a depressed economy and proposing remedial measures after reveling areas of problem.

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A number of post related literature to the effect of economic depression on marketing of paint product are highlighted in chapter two.

The designs of the study, the methods used in collecting relevant data were used in chapter three.

The data got from the research survey were gathered and interpreted. Also similar questions on both questionnaires were compared.

Finally, the summary of findings, conclusion on the research and recommendation made by the researcher are all in chapter five.

CHAPTER ONE

INTRODUCTION

1.1     Background Of The Study

It is a fact that every reasonable Nigerian know at present that there are many competitors in the paint market. The fact is everybody wants to do business without actually considering what it takes to start and be business.

Industrial marketing is the process of anticipating, discovering, and designing products and service specification that will satisfy the requirement of industrial consumers or users (schwa 1978: 618).

The term marketing has different interpretation to different people depending on their knowledge. To some people, it is simply buying and selling activities, to others it may mean creation and delivery of goods and services for satisfaction of human wants. Which ever definition one chooses, the whole thing boils down to satisfaction of wants which are predetermined as can be seen from the following definitions:- marketing is a set of activities that facilitate exchange transaction involving economic goods and services  for ultimate purpose of satisfying human needs and wants (Kotler 1990)

General marketing involves finding out what people’s needs are, designing product and services that are capable of satisfying these predetermined needs and determine the best way to package, price, distribute and promote these goods and services while making profit at last which is the climax goal of an organization.

For the purpose of this study this research work is designed to investigate and disclose the problems, consequences and prospect of marketing paint product in a competitive market economy (Enugu Urban).

In as much as industrial goods are goods used, context industrial goods can also be consumer goods since there is no demarcation between them. Example is a tyre manufacturer who sells tyre to an automobile firm that uses then to fit in an assembled pan can be said to be engaged in industrial marketing and when these tyre are bought by a car owner to replace his own worn out tyre it becomes consumer goods.

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In the late 1980, the situation reflected the  fact that consumer disposable income was at the increase, an individual buyer expectation were raised, emphasis shifted to the creation of an increased capacity for production as the market environment has various market segments especially paint industry.

The real disposable income of most citizen has remained static while just a negligible populace has been lucky enough to record a minimal rise. Marketing is not only a means the by which the present day business will survive the endemic buff fling of the uncontrollable variable, it is also philosophy which has emerged as the stimulation and command if consumers’ demand.

However, different mix of marketing has not been well applied by the paint industries in the state of study. Much can still be done to create the needed awareness and demand needed for a proper marketing mix. It is because of this importance effected to marketing not only in consumer goods that the researcher seen to find out marketing of industrial product in a competitive market economy with particular note On Berger paint plc Enugu urban

1.2     Statement Of Problem

To survive and remain competitive and at the same time enhance profitability, a company has to know the nature of its market. It is observed that there is decline in the demand of paint. Could it be attributed to circumstance endangered by the present economic predicament of the country? Or the inadequate customer awareness in the demand for the product? Could the decline in demand be competition among the firm in the industrial product or channel of distribution not properly carried out? What is wrong with the marketing activities? Can marketing be used to fight competition in the market place? These and many more form the focus of the study.

1.3     Objective Of The Study

Having stated the problem, it becomes logical that what follows is the objective of the study i.e. what this study aims at achieving from the problem. Therefore, the objectives of the study considering the competitive nature of the market economy are:-

  • Identifying the economic factors thus the industrial buyer has decision in buying paint
  • Finding out reason for the decline rate of demand being experienced by paint industries with particular reference to Berger paint plc Enugu
  • The effect of inadequate customer awareness in marketing paint.
  • The impact of the rising price of paint in the demand for the products.
  • To make recommendations on the appropriate measure the Berger paint company plc should take to ensure rapid sales growth.
  • To determine the impact of product quality in a competitive market economy on industries buyers’ patronage.
  • To find out the quality of paint and its effects on the purchase of the industrial buyers in a competitive marker economy.
  • To find out if the paint product are available.
    • Hypotheses/ Research Questions
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          In determining a way to effectively market industrial product in a competitive market economy like ours a guiding rule has to be formulated

The following hypotheses have been therefore formulated for the objective of this project

H rising prices have negative impact in the marketing of paint products

H1 rising price have positive impact in the marketing of paint product

H0 inadequate customer awareness does not affect the demand for paint

H2 inadequate customer awareness affects the demand for paint

H product quality has negative impact on the industrial buyers in a competitive market economy.

H3 product quality has positive impact on the industrial buyer in a competitive market economy.

  • Significance Of The Study

In any field of endeavor, importance are achieved by learning of what people do, how they do it, with what effect (negative or positive) and the possible need for adjustment.

This study will determine ways to effectively market of industrial paints productions in a competitive market economy like ours. Thus could be achieved by gathering those market information that will guide any paint manufacturer by developing a marketing programme which must be fashioned to reflect the realities of the present day situation in the paints market in particular and Nigeria economy in general in order to ensure continued profitable operation in the paint industry.

Prospective distributor will apply this study being aware of the happening in the field and then remodel their plan for possible adjustment. It will unravel the problem confronting the marketing of paints product in Enugu urban under the present Nigeria economic situation.  Knowledge from this study will keep improve the decision making skill of both the company production (Berger paint plc) and then serve as a guide for buyers who need to know what paints to buy, the better price and the preparation method. From these, you can see the producing and prospective distributor, customer of the product, the paint itself Berger paint plc, student new welfare he paint industry.

1.6     Scope/Delimitation Of The Study

This study will concentrate on marketing of industrial products in competitive market on Berger paint operation within Enugu urban.

This work has not been so easy for the researcher. A lost of constraint were encountered in the course of this study. These constraints include:

Financial Constraints: A lot of money was spent on data collection and related expenses made to get material for this work as well as typing the manuscript

Time factor: Time posed a different problem as there are too many things to be done within the limited time period given for the study and this made the researcher not to have gone greater than this extent in carrying out the study.

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Moreover, the respondents were unwilling to attend to some of the researcher’s questions in the avoidance of giving out information to protect their privacy. The distribution of questionnaire was selective due to the poor literacy rate of the paint consumers.

Not withstanding all these, the researcher was able to see this work come through to the final stage.

1.7     Definition Of Terms

          Marketing:  Is a social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with other. Kotler (1984:4).

          Industrial marketing: Is the human activities directed toward satisfying wants and needs of organization through the exchange process. Reeder, Brierty (1987:8).

          Users/customers: Are those commercial enterprises purchasing goods and or services which are the sold into industrial or consumer market or both. Kotler (1984).

          Industrial distributors: Are not consumers but middleman in the industrial market who purchase products from manufacturer or other distributor and in turn, sell same to other distributor Kotler (1884).

          Marketing management: Is the analysis, planning, implementation, and control of programs designed to create, build and maintain beneficial exchanges and relationship with target markets for the purpose of achieving organizational objective. Kotler 1984:14)

Market segmentation: is a process of dividing a market into distinct groups of buyers with similar requirements or homogenous response to marketing stimuli.  Kotler (1990)

Industrial product: Is any industrial activity which involves transformation of raw materials into final products or semi- manufactured product or transformation of semi manufactured product into final product. Station (1977:47).

Marketing Of Industrial Products In A Competitive Marketing Economy

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