Tag Archives: Marketing Strategies

Marketing Strategies for Sustainable Development in Developing Countries (Published)

As the traditional role of corporate entities have been challenged by an increased number of demands from society, organizations roles are no longer limited to generate profits by supplying products or services. Instead, they are expected to play the role of responsible co-citizens of the community, taking social and environmental responsibility for the consequences of their actions. Implementing sustainable practices into business strategies is considered beneficial for both organizations and society, as it brings organizations opportunities for growth and development, as well as a more sustainable future for society. More so, the success or failure of any business is said to rests in part on the nature and types of marketing strategy they employ.A cross-sectional survey design was put in place for the study. The unit of analysis was organizations while the owner/managers of SMEs were the respondents. Systematic, simple random and snowbell sampling techniques were employed to collect the needed data for the study. A sample size of 200 SMEs covering all sectors that exist in the study area was drawn from a population of 522 SMEs. Inferential statistics was used to empirically and statistically analyze the data collected for the study with the aid of Statistical Package for Social Science (SPSS) version 20. Regression analysis was used to test the hypotheses. The study revealed that a positive relationship exist between Customer Relationship Management (CRM) and Sustainability Marketing (SM) and the relationship is statistically significant (p<0.05).Also, it shows that a positive relationship exist between Sustainability Marketing (SM) and Competitive Advantage and the relationship is statistically significant (p<0.05.It was recommended that SMEs operating in the Nigerian market should endeavour to communicate sustainable practices strategies internally in order to form effective sustainability strategies in all business decisions.

Keywords: Marketing Strategies, Sustainability Marketing Developing Countries, Sustainable Development

Marketing Strategies and the Performance of Small and Medium Enterprises in Akwa Ibom State, Nigeria (Published)

The study examined the impact of three marketing strategies (product quality, marketing communication and relationship marketing) on the performance of selected Small and Medium Scale Enterprises in Akwa Ibom State, Nigeria. The study was motivated by the fact that SMEs in Akwa Ibom State find themselves in a competitive environment and may not know which marketing strategy is effective in improving their business performances. The study adopted the survey method. 240 questionnaires were issued to SMEs in the three senatorial districts of the State. This formed the sample of the study. The data obtained was analysed using Pearson Product Moment correlation analysis which was computed electronically by the use of Statistical Package for Social Science (SPSS) version 21. The study revealed that there is a significant impact of product quality strategy and relationship marketing strategy on the profitability and increased market share of SMEs in Akwa Ibom State. The study recommends that SMEs should invest so much in product quality rather than in advertisement as this would enhance the firm’s profitability. Also, the customers should be valued and treated as kings as cordial relationship between firm and customers results in the increase of the organizations market base.

Keywords: Marketing Communications, Marketing Strategies, Performance, Relationship Marketing, Small Medium Enterprises, product .quality

The Effects of Deposits Mobilization on Financial Performance in Commercial Banks in Rwanda. A Case of Equity Bank Rwanda Limited (Published)

This study is about to establish the effects of deposit mobilization on the bank financial performance in commercial banks in Rwanda. A case study of Equity bank Rwanda limited. Deposits are an indispensable tool commercial banks use to enhance its profitability through advancing deposits mobilized to its customers in form of loans which make in return interest to commercial banks. The lending activity is made possible only if the banks can mobilize enough funds from their customers. Specific objectives of this study are to determine the effect of marketing strategies on the financial performance of commercial banks in Rwanda, to establish the effect of interest rate changes on the financial performance of commercial banks in Rwanda and to determine the effect of banking technology introduced on the financial performance of commercial banks in Rwanda. The target population for the study was the bank managers involved in deposit mobilization namely the marketing team and the branch management team in Equity bank Rwanda. The research used a census to study a population of 27 staff. The main source of data was the primary and secondary data. The documentary method, the questionnaire as research instruments were used to get the data needed for the research. Data were processed by use of descriptive statistics after editing have been done. The computer software SPSS version 20 was used as a device to accommodate analysis. Pearson and Spearman’s correlation analysis was used to test the nature of relationship. The findings indicated that majority of the respondents (85%) confirmed that the brand name of the Equity Bank is recognized in the public this has made able overcoming challenges mostly facing high competition with other banks. The marketing strategy used made the bank to increase in terms of customers and it has led to the increase in deposits over the years. The findings also indicated that a positive change in deposits interest rate affects the level of deposits received and later on the profitability of the bank. The study revealed that the introduction of innovative banking technology has led to the increase in deposits at a low cost as opposed to the usual way of getting deposits through term deposits and made financial services accessible in the unbanked people. This also made the ROA, ROE, net profit increasing due as the loans volume increases. The statistical correlation revealed that there is a positive relationship between deposits mobilization and financial performance of commercial banks in Rwanda, the case of Equity Bank. The study recommends the bank to develop other strategies towards marketing and mobilize more deposits as they are indispensable tools towards the profitability of the bank.

Keywords: Banking Technology, Commercial Bank, Deposit Interest Rate, Deposit Mobilization, Financial Performance, Marketing Strategies

MARKETING STRATEGIES AND CONSUMERS’ SATISFACTION OF CEMENT PRODUCTS IN CALABAR, NIGERIA (Published)

The essence of every marketing activity is to attract customers and increase their desires for specific product or service.Thus organizations pursue consumers’ satisfaction with large amount of resources but to what extent has United Cement Company Limited met this objective in Calabar. This study thus, evaluated the effect of United Cement marketing strategies on consumers’ satisfaction in Calabar. To this end, the survey research design was adopted.The respondents consisting of customers and staff of United Cement Company Limited, Calabar were drawn using convenience and random sampling techniques respectively. Primary data were collected through the use of structured research questionnaire, and were analysed statistically using analysis of variance, a regression analysis technique. The results of the analysis revealed that United Cement Company marketing strategies have significant positive impact on cement consumers’ satisfaction in Calabar. It was therefore recommended that UniCem should retain its current marketing strategies in Calabar because they have positive influences on consumers’ satisfaction. Also, that UniCem should evolve other marketing strategies such as total quality management to maintain its cement quality, give discounts to create and sustain customers’ loyalty and create customers friendly outlets to directly keep in touch with many small customers.

Keywords: Consumers’ Satisfaction, Corporate Social Responsibility Strategy, Innovation Strategy, Market Development And Expansion Strategy, Marketing Mix Strategy, Marketing Strategies

IMPACT OF MARKETING STRATEGIES ON YOUTH PURCHASING BEHAVIOR: A CASE STUDY OF MOBILE PHONE INDUSTRY (Published)

Marketers consider youth as an important segment in recent globalized world. Due to their large number, accessibility to readily available information and massive internet usage they are difficult to ignore. This research paper aims to study the impact of marketing strategies on youth purchasing behavior in selection of mobile phone network. The study has focused that how these strategies used by mobile phone networking companies in Pakistan influence the purchase decision of youth in selection of their mobile phone network. Youth purchasing behavior has been taken as dependent variable to be influenced by various independent variables which are service quality, pricing, value offered, trust and switching cost. Primary data was collected by using self-administrative questionnaire with a sample size of 230 participants. Regression analysis was done for results analysis. The proposed research shows that youth preferred the mobile phone network with best service quality (quality in terms of all SMS, call and internet) at reasonable prices. Other factors like value offered by mobile phone networks, trust on the company and the switching cost also impact the purchasing decisions of youth in selection of mobile phone network.

Keywords: Marketing Strategies, Mobile Phone network, Youth purchasing behavior

PERCEPTION OF BANKS’ STAFF ON COMPETITION AND MARKETING STRATEGIES IN NORTH-EASTERN NIGERIA (Published)

The study focuses on the perceptions of banks’ staff with regards to competition in the Nigerian banking industry and the marketing strategies that the banks have employed to cope with the competition. The primary data for the study were obtained using a structured questionnaire administered on a sample of 100 staff of selected banks in Jimeta-Yola, the capital city of Adamawa state, North-eastern Nigeria. The data obtained from the questionnaire were analysed using percentages, mean, and the Pearson correlation analysis. The findings revealed that the top-5 factors influencing competition are the reputation or rating of banks, overall strategy adopted by the banks, effective deployment of ICT and associated facilities, incentives that individual banks give to their marketers and regulations/reforms by the government. Personal selling, relationship marketing and new product development were also found to be the dominant strategies employed by the bank as they significantly impact on customer and deposit attraction, new product adoption as well as marketing costs.

Keywords: Bank marketing, Competition, Environment, Marketing Performance, Marketing Strategies

CONFIRMATION THEORETICAL MODEL OF SUSTAINABLE CONSUMPTION (Published)

The organic food and product market is a reality in more than 130 countries, including Mexico. The aim of this research was to identify if sustainable consumption may be explained by three factors: Marketing Strategies, Consumer Behavior and Demographics data. In this study, the test designed by Salgado-Beltrán and Beltrán-Morales (2011) consisting of 10 questions with a Likert scaling was replicated. The statistical technique to test whether the proposed theoretical model fits the data was structural equations due to its potential to further develop the theory. The result show that the hypothetical model fits the data very well, as shown by the CFI  (0.970) and RMSEA (0.071) values

Keywords: Consumer Behavior and Demographics data., Marketing Strategies, Organic Food

The Effects of Board Characteristics on Microfinance Institutions’ Social Performance in Kenya (Published)

With the growing competition of globalization, strategic decision makers have been faced with the competing interests of external and internal stakeholders such as greater diversity in corporate governance, undertaking more investments in corporate social responsibility and maximizing financial performance. As a result, strategic decision makers today must not only increase their financial performance, but also satisfy the increasing expectations of customers, suppliers and society as a whole. The objective of this study was to examine the effects of the board characteristics on the social performance among Kenyan MFIs. It focused on the board size, board terms, board committees, director remuneration, multiple directorship, boards’ skills and experience and the independence of directors. This study adopted positivist approach, deductive approach and explanatory research design. Population of the study consisted of all the MFIs registered by the AMFI as at 31st March 2012. Data was analyzed using quantitative and qualitative methods. Qualitative data was analyzed to yield descriptive, Pearson linear correlation coefficient, one way ANOVA, linear multiple regression and inferential statistics. The major findings of the study are: that a significant negative relation exists between social performance and board size, director remuneration, independence of directors while multiple directorship, existence of board committees are positively related. Length of board terms has no effect on the social performance of an MFI. Overall, the results show that MFIs in Kenya can improve their Social performance by improving on their board composition in line with the Capital Markets Authority guidelines.

Keywords: Aggressiveness, Marketing Strategies, Product and Performance

Aggressive Marketing and Product Performance in Nigeria a Case Study of the Telecommunication Industry (Published)

The drive to become successful in a stiff competitive market is what is making organization to adopt strong marketing strategies of which Aggressive marketing option becomes a part. The actual and perceived relationship between marketing strategies and organization performance are well documented in the literature through research reports. What is less focus on is this relationship as it affects telecommunication industry. This study therefore examined the effect of Aggressive marketing strategies on the product performance of telecommunication industry in Nigeria. The study made use of survey research design where well-structured questionnaires were employed. To give room for easy measurement of variables, a likert scale of strongly agreed to strongly disagree was adopted. The obtained data were analysed using simple percentage, descriptive statistics and validation of proposition was confirmed through regression model. The study revealed that marketing strategies has a significant effect on product performance with reference to Nigeria Industry, as most, if not all organizations adopt marketing strategies that affect customer patronage as well as the development of dynamic marketing strategies that reflect current state of customer preference. The paper, therefore, recommended that organization should embrace and enhance the development of state of the earth marketing strategies in order to remain afloat in competing future market.

Keywords: Aggressiveness, Marketing Strategies, Product and Performance