MARKETING ACTIVITIES OF SMALL-SCALE BUSINESSES IN BENIN CITY (A CASE STUDY OF PEAK HEIGHT VENTURES LTD)

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MARKETING ACTIVITIES OF SMALL-SCALE BUSINESSES IN BENIN CITY (A CASE STUDY OF PEAK HEIGHT VENTURES LTD)

ABSTRACT

This research project is aimed at examining the marketing activities of small-scale businesses as a whole but the manufacturer in a particular. During the course of this study it was discovered that the competitors in small and medium scale firms are in very large quantity, which in turn has been found to have a devastating impact on the growth and survival of the small and medium scale businesses. The activities of small-scale businesses face by the producer was found to include high cost of raw material, high cost of the product, low rate of sales and the circulation of the local market with their product. It was also revealed in this study that among the 85 manufacture that responded only four (4) of them make their sale within and outside the country, which make the rate of sales to be very poor. This is where the manufacturers should take into consideration, as the expansion.

TABLE OF CONTENT:

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

1.2 Statement of the Research Problem

1.3 Objectives of the Study

1.4 Significance of the Study

1.5 Research Questions

1.6 Research Hypothesis

1.7 Conceptual and Operational Definition

1.8 Assumptions

1.9 Limitations of the Study

CHAPTER TWO

LITERATURE REVIEW

2.1 Sources of Literature

2.2 The Review

2.3 Summary of Literature Review

CHAPTER THREE

RESEARCH METHODOLOGY

3.1 Research Method

3.2 Research Design

3.3 Research Sample

3.4 Measuring Instrument

3.5 Data Collection

3.6 Data Analysis

3.7 Expected Result

CHAPTER FOUR

DATA ANALYSIS AND RESULTS

4.1 Data Analysis

4.2 Results

4.3 Discussion

CHAPTER FIVE

SUMMARY AND RECOMMENDATIONS

5.1 Summary

5.2 Recommendations for Further Study

Bibliography

CHAPTER ONE

INTRODUCTION

BACKGROUND OF THE STUDY

A product includes all the peripheral factors that contribute to a consumer satisfaction i.e. when you eat in a restaurant, the product is more than just the food, it includes the quality of the service and the atmosphere (Mauser and Schwartz 1982).

Hence is purchasing a product, a consumer would desire it to be or expect it to be of good quality, in order to meet his needs, expectation and for his ultimate satisfaction.

Fine quality products leads to consumer’s good will and satisfaction that manifest themselves in the form of repeat sales, loyal to customers and clients and testimonial to prospective customers or clients (Donnely, Gibson and Ivancevich 1987). Therefore it is up to the producer or manufacturer to maintain that quality to ensure consumers satisfaction.

Generally, Nigeria-made products that are often referred to as being inferior and of low quality. This has drastically reduced the demand for local products and has further discouraged private entrepreneurs from investing in some local industries. It has been observed over the years that many companies are either folding up or carrying out mass retrenchment due to lack of patronage of their products. For any business to continue to exist it must have a market to satisfy and this means that it must provide product and service which have quality standard, it is necessary for firms to adopt quality control measures which will help them to produce quality goods and services that will satisfy the ultimate users. In order for Nigerian to develop economically, firms have to produce goods of high quality content by adopting total quality control method to all aspects of their production activities. This will help in flushing out substandard goods, which are presently in existence in the country.

Small scale business in the cornerstone of any nation’s industrial and economic growth. It is in the view of the importance of small scale business to a nation’s well being that successive federal government come out with policies to encourage the development and growth of small scale business.

For any organization to be successful in its business there must be a way in which goods and services produced are distributed to those who need them. The process where by goods are produced and distributed is know as marketing.

According to Kotler (1986)

“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”.

With this definition above we see that marketing involves the process of exchange of goods and services for other values. For any one to engage himself in marketing, he or she must take the 4ps (Marketing mix) into consideration i.e. product, price, promotion and place.

The 4ps are the general activities which make up marketing. The product which is the most important among all the market mix is the nerve-centre of the business as other activities cannot take place without the product, also the price of the product must be determined, the place where the product will be sold must also be decided and finally the product must be promoted so that consumers will be aware of the presence of the products. These will be discussed more or details in later chapters. In the past most writers focused on lack of or in adequacies of fiancé as the greatest problem military against the development and growth of small scale business in Nigeria. This research will be focusing on the problems and prospects of marketing activities of small scale business.

PURPOSE OF THE STUDY

This research work has the primary purpose of carrying

out survey of marketing activities if small scale business in Benin city. The marketing activities have been a serious concern to enterprises and organization.

The issues of prices, product, promotion, place, buying and selling consumer satisfaction, standard product are some of the marketing activities of small scale business which enterprises, marketing managers and organization engaged on. The main purpose of this research work, therefore is to carryout a survey of marketing activities of small scale business.

STATEMENT OF THE RESEARCH PROBLEM/ RESEARCH QUESTION

The need to make profit is the main driving force in a mixed oriented economy such as that of Nigeria. The level of profit is a measure of the degree of success.

It is know that some organization do not plan well before going to market their product and even some organizations have know market target i.e. the particular group of people to satisfy before engaging in the production of goods which make the marketing of the product a serious problem.

In spite of all these small scale businesses posed the following research questions?

1. What are the measures to be adopted to achieve quality control on production of small scale businesses.

2. What amount will place on production of small scale business?

3. What kind of promotion should be adopted by small scale businesses?

4. How can small scale businesses achieve it profit?

5. What are the importance of marketing activities to small scale businesses under study?

6. What are the extent to which marketing activities of small scale businesses led in achieving marketing objective?

7. what are factors small scale business understudy consider most important in their marketing activities and implementation process?

8. what are the plan small scale businesses adopt in other to achieve market target?

9. what are the problems currently faced by small scale businesses?

OBJECTIVES OF THE STUDY

The objectives of the study are:

1. To identify the marketing problems currently faced by small scale businesses.

2. To determine how small an medium scale business secure and sustain adequate patronage of goods and services of small scale businesses at acceptable price.

3. To find out how marketing activities contribute to the turnover of small scale businesses.

4. To identify the marketing channels available to small scale businesses

5. To determine the promotion activities of small scale businesses

SIGNIFICANCE OF THE STUDY

The study when completed will go a long way to assist existing small scale businesses by improving the quality of their product, while also helping potential investors in small-scale businesses to know where to concentrate effort in marketing in order to make a maximum profit.

Also the study will be of immense use to managers in small-scale businesses, investors, government agencies encouraging the growth of small-scale businesses and to every one interested in the management of small-scale businesses.

Furthermore, the study will seek for the problem been encountered by producer in trying to market their product, keep a check and balance to the extent which they apply the marketing mix i.e. product, price, promotion and place. The study therefore aims to see how the improvement can be achieved in marketing the product.

The benefits of the study will include better operation and profitability of small scale businesses and ultimately provide room for expansions which will eventually provide more jobs and better services to the public at reduced cost.

SCOPE OF THE STUDY

This work seeks to investigate the marketing activities

associated with product of small scale businesses and how it affects marketing of the product and extent to which the firm adopt adequate measure and method of quality control.

It is a well know fact that small scale businesses involved in series of marketing activities and such activities are very important to the small scale businesses.

Although, emphasis will be laid on marketing of product of small scale businesses. However, for the purpose of comparison, reference could be made to industries located outside the area.

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MARKETING ACTIVITIES OF SMALL-SCALE BUSINESSES IN BENIN CITY (A CASE STUDY OF PEAK HEIGHT VENTURES LTD)

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