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Sales Promotion As An Effective Marketing Strategy For Selling Consumer Product
[A CASE STUDY OF NIGERIA BAGS MANUFCATIRING COMPLANY, IKEJA LAGOS]
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1.3 OBJECTIVES OF THE STUDY
The research is mainly to examine the effectiveness of promotion in manufacturing industry by laying emphasis on BAGCO. Since inception of poly propylene bag BAGCO, which started with just forty (40) Polypropylene bags to test the market, made history rapidly as a result of the innovated product.
The aims is also to determine the promotional activities implored by BAGCO for the purpose of this study and for other manufacturing industries.
Advertisement on television is one of the best medium. The promotion is able to reach the target which makes them (target market) perceive the product in it tangible form; the popular jingle. “BAGCO†super sac well don win†the advert reveals that it is sensible for industrial purpose.
MANAGEMENT PLAN
The impact of the competition was also felt when they introduced something similar as “BAGCO†a sub standard product was not recites able. This was noticed after five years of excellence performance (1996) by decline in sales but was tackled and ended by the marketing cure when they introduced massive distribution at every channels, the quality, future etc was improved upon and more sales forces where price for those who will not but in large quantity to eliminate the effectivness of the competitors. The research also made us to see the responsibility of demand elasticity. It was demand for Bagco was Zero and Inelastic perfectly unitary during the raining seasons which result in increase in price to equal to the same percentage in quantity demanded.
It is also important for its part of the requirement for the award of higher national Diploma in marketing in the department of marketing Kwara State Polytechnic, Ilorin.
1.4 SIGNIFIANCE OF THE STUDY
This study will assist in formulating effective marketing programme in the manufacturing industry with the aim of improving customers’ satisfaction, importance of sales promotion at profit and close monitoring of the action of competitions. It is strongly believe that this research work will be readable and useful to all manufacturing company as a whole.
1.5 SCOPE AND LIMITATION OF THE STUDY
The research study is limited to Nigerian bag manufacturing company. The study covers the entire organization but will be represented by only 20% of the whole population.
1.6 DEFINATION OF TERMS
Sales promotion: sales promotion can be defined as any marketing activity outside personal sense, promotion has been defined as any identifiable effort with part of the seller to persuade buyer to accept the seller information and store it in retrievable form.
According to BLATE R.G and NBELSON (1997) sales promotion consist of a diverse collection of incentive tools, mostly short term design to stimulate greater purchase of particular product or services by customer. Sale promotion is a variety short incentive used to encourage trial purchase tool for consumer free goods point purchase display etc.
The sales promotion is a selling activities that co-ordinate advertising and personal selling into effective persuasive forces. It is claimed that sales promotion moves buyer toward the product. Many sales promotion campaigns involve the use of incentive. Incentives are something of financial nature added to an offer to encourage some over behavioral resposnse. There are many ways of sales promotion.
Sampling: To give out the sampling free of charge to consumer.
Contest and game: The desire to win easy monetary reward via game of chance is now spreading like wild fire.
Trade and show Exhibition: This is where they will demonstrate the product.
According to OSUAGWU AND ENIOLA (1997) sales promotion has major effort which include:
To get potential customers to buy a particular product they have use before.
To encourage heavily and thick usage of product.
To suggest new uses of product
To give product a good image
According to STARTON AND FUTRELL (1996). A sales promotional tool can be classified into three to serve various purposes, two categories are:
Consumer example include coupons contest gift, free sample, sweep stakes, trade shows, exhibition, point of purchase display product demonstration etc.
Middle men: example are trade shows exhibition, free goods and product demonstration etc.
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