Application Of Marketing Control Techniques In Manufacturing Firms

(A Case Study Of Emenite Limited Emene Enugu State)

5 Chapters
|
76 Pages
|
9,821 Words

Marketing control techniques play a crucial role in enhancing the effectiveness and efficiency of marketing efforts within manufacturing firms. These techniques encompass various strategies aimed at monitoring, evaluating, and adjusting marketing activities to achieve organizational goals and objectives. One fundamental technique is market research, which involves gathering and analyzing data on customer preferences, market trends, and competitor activities to make informed decisions. Additionally, performance metrics such as sales revenue, market share, and customer satisfaction are monitored regularly to assess the effectiveness of marketing campaigns. Another essential aspect is financial control, where budgets are allocated and expenditures are monitored to ensure optimal resource allocation and cost-effectiveness. Furthermore, quality control ensures that products meet customer expectations, thereby enhancing brand reputation and customer loyalty. Integration of these marketing control techniques enables manufacturing firms to adapt to changing market conditions, identify areas for improvement, and maintain a competitive edge in the industry, ultimately leading to sustained business growth and profitability.

ABSTRACT

The topics of this research work are the application of marketing control techniques in manufacturing firms in Enugu east local government: A case study of Emenite Limited Emene Enugu. In order to peruse this investigation property, the following research objectives were formulated namely: To investigate to what extent manufacturing firms have forma plans for their activities. To determine whether the application of marketing control has any effect on the achievement of the corporate goals and objectives of their organizations. To find out the specific areas where the application off marketing control are necessary, etc. The researcher adopted the survey technical in carrying out this research work. A total number of one hundred and eighty (180) respondents formed the population of this study. This number was however statistically reduced to a sample of one hundred and twenty four (124) respondents using the Yaro Yamane sample size formula. The data were gathered mainly through questionnaires, interviews and direct observation. A total number of one hundred and twenty four (124) questionnaires were printed and distributed to the selected respondent but only one hundred and two (102) of such questionnaires were properly filled and returned and final analysis was based on this figure. To analyze data collected, the researcher made use of simple percentage as well as tables. Based on the analysis, the researcher discovered among other that: Apart from the other control, techniques, sales analysis, market share analysis, marketing audit and profitability checks are the most frequently used techniques in Emenite Limited Enugu. The Female workers at Emenite Limited is fewer in number than the male counterparts. This should be employed. Emenite Limited does not sell their product to customers directly but make use of middlemen in the distribution of their products, etc. Based on these findings, the researchers recommended among other that Emenite limited should Endeavour to sustain its current effort to apply marketing control system in their operations. Apart from the techniques. Listed above, the company should try new ones like ratio analysis, sales variance, etc. Emenite should revisit their employment policy to create room for more woman to be employed. Emenite should open an avenue for customer to buy some of their products directly. Conclusively, the importance of applying marketing controls in manufacturing firm cannot be overemphasized; and the goals of the company will be achieved if the recommendations made are utilized.

TABLE OF CONTENT

Title page
Certification
Dedication
Acknowledgement
Abstract
Table of Content

CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
1.2 Statement of the Problem
1.3 Objectives of the Study
1.4 Research Questions
1.5 Significance of the Study
1.6 Scope of the Study
1.7 Limitations of the Study
Reference

CHAPTER TWO:
REVIEW OF RELATED LITERATURE
2.1 Literature Review
2.2 Theoretical Frame Work
2:3 Review of Current Literature
Reference

CHAPTER THREE:
RESEARCH DESIGN AND METHODOLOGY

3.1 Sources of Data
3:2 Population of the Study
3:3 Sample Size Determination and Sampling Technique
3:4 Sampling Procedure
3:5 Selection and Construction of Research Instrument
3:6 Administrations of Questionnaires
3:7 Method of Data Analysis
Reference

CHAPTER FOUR:
DATA PRESENTATION ANALYSIS & INTERPRETATION
4.1 Presentation of Data
4:2 Treatment of Research Questions

CHAPTER FIVE:
SUMMARY OF FINDINGS, CONCLUSIONS AND RECOMMENDATIONS
5.1 Summary of Findings
5.2 Conclusion
5.3 Recommendations
Bibliography
Appendices
questionnaire

CHAPTER ONE

INTRODUCTION
-establishing standard
-measurement of performance and
-correct of deviations
Standards may be in the form of short term goal and long term objectives
which should be measured against actual result and corrective action should be
taken when necessary. When actual performances deviates greatly from annual
plans, the corrective plans may be to adjust objectives and long term objectives
which should be measured against actual result and corrective actions. Would be
taken when necessary. Where actual performance deviates greatly from annual
plans, the corrective action may be to adjust objectives and goals by making them
realistic and attainable.
A number of techniques have been developed overtime and these are readily
used in marketing management across the globe kotler[1980;640-644]broadly
classified marketing control process into four categories namely;
1. Annual plan control; sales analysis; marketing ratio analysis; market share
analysis and consumer attitude tracking.
2. Profitability control; consisting of effort to determining profitability of
different products, territories, trade channel and consumer groups.
3. Efficiency control; means determining more efficient ways of managing
sales force advertising, sales promotion and distribution.
4. Strategies control; consists of efforts aimed at periodically examine whether
a company basics strategratics marched to its opportunities.
Marketing control techniques as a component of the marketing information
system must be able to provide information to management about performance.
Interestingly, a good management will like to know which product sales and
highest and why, whether the product is profitable; what is selling and at what cost.
very often; the traditional accounting report are usually of little help to the manager
;a company account might be showing an overall profit arising from the business.
Without specifying which of the centre is doing very fine and which is not?
A detailed breakdown of firm’s sales records can be very useful and
informative such breakdown can update marketing executives who have been out
of touch. Additionally, routine sales analysis prepared weekly; monthly or even
yearly may show trend thus permitting marketing executing to check their basics
assumptions about performances, [kotler1986].

1.2 STATEMENT OF THE STUDY
The important of marketing control techniques in the efficient management
of companies cannot be over stressed.
Thus in the word of Mocker [1972:2] marketing or management control is a
systematic effort to set performances standard with planning objectives, to design
information feedback system, to compare actual performances with those per-
determined standard, to determine whether there are deviation and to measure their
significance, and also to take any action necessary to ensure that all corporate
resources are being used in the most effective and efficient way possible in
achieving corporate objectives.
This view was also supported by Udeagha (1999:281) when he defined
management control as consisting all the measures undertaken by an organization
to measure performances against standard to ensure that the planned organization
activities objectives and goal are achieved.
Notwithstanding the positive views; expressed by these two authors above,
evidences abound that most of the companies do not apply marketing control in
their day to day operations.
This view was expressed when Kotler (1980:729) argued that in spite of the
need for effective marketing control; many companies have inaugurate control
procedures. He recent further to argue that many companies fall to compare them
price with competition to analysis warehousing and distribution costs, to analysis
the cause of returned merchandize, to conduct formal evaluation of advertising
effectiveness, and to review their sales-forces reports.
The negative attitude of some companies towards the application of
marketing techniques control for their operations as pointed in one of the major
factors that stimulated to researcher to embark on this study. The ideas was to find
out whether Enemite Limited as a roofing sheet manufacturing company based in
Enugu applies the concept of marketing control in its operation and the findings of
the study to make some recommendations.

1.3 OBJECTIVES OF THE STUDY
The researcher work was embarked upon to achieve the following objective
i. To investigate to what extent manufacturing firm time formal plans for their
activities.
ii. To determine whether the application of marketing control has any effect on
the achievement of the corporate goals and objectives of their organization
iii. To find out the specific area where the application of marketing control are
necessary.
iv. To determine the various marketing control techniques available in their
company.
v. To determine whether the application of marketing control techniques
enhance a firm’s competitive position.
vi. To ascertain the most frequently used marketing control techniques among
manufacturing firms.
vii. To make recommendation based on the findings of the researcher work that
will ensure improved productivity and efficiency.

1.4 RESEARCH QUESTIONS
The following research question is formulated by the researcher in line
with the objective of the study. The researcher questions includes
1. To what extent has manufacturing firm made formals plans for the
activities?
2. What effect has the application of the marketing control on the achievement
of the corporate goals and objectives of the manufacturing firm?
3. In what specific areas do your companies apply marketing control?
4. What are various techniques used by the manufacturing firm in the
marketing control activities?
5. In what ways can the application of marketing control techniques enhance a
firms in the manufacturing firms?
6. What are the most frequently used marketing control techniques used by the
manufacturing firms

1. 5 SIGNIFICANCES OF THE STUDY
The main purposes of this study is to investigate the application of
marketing control techniques in manufacturing firms in Enugu east local
government area and determine whether it’s one is prevalent among firms. The
study will also attempt to find out it control techniques which will be made
between the firms based on their types and size defined by the annual sale level or
turnover. Information generated in this study will be immensely helpful to
marketing executives of Emenite Limited Enugu in the control of marketing
programmers in terms of sales goal and objectives, cost and the exploitation of
opportunities available, marketing manager should be able to check their basics
assumptions about performance.
Furthermore marketing manager will be in a position to determine problems
area which would have been submerged and this proffer solution that will improve
performances. It will also benefit the researcher as it is a partial fulfillment for the
award of an ordinary b.sc degree in the field of study. It has also added to the
existing literature in the field.

1.6 SCOPE OF THE STUDY
The scope of the study is the research boundary emphasis is laid on the
application of marketing control techniques in manufacturing firms in Enugu east
local government area with a view of finding out how this concept has been
applied’ it has on productivity. And so on. The scope of the study is limited to
manufacturing firms in Enugu east local government area; especially Emenite
Limited a leading roofing sheet in manufacturing firms.

1. 7 LIMITATION OF THE STUDY
Hardly would a research study be concluded without the constraints in a
country such as our where bureaucracy and redtaplism act as constraints in the
flow of information, and where there is inaccuracy of constraint related to the data
system would includes
– Low quality data and inadequate recording devices
– Lack of standardization in data recording and formats
– Lack of incentives and motivations
– Budgetary limitation
– Privacy of information consideration
– Inadequate data collection and handling procedures

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Application Of Marketing Control Techniques In Manufacturing Firms:

Marketing control techniques are essential for manufacturing firms to ensure that their marketing efforts are effective, efficient, and aligned with their overall business objectives. These techniques help companies monitor, evaluate, and adjust their marketing strategies and activities to achieve better results. Here are some key applications of marketing control techniques in manufacturing firms:

  1. Sales Analysis: Analyzing sales data is crucial to assess the performance of marketing efforts. Manufacturing firms can track sales by product, region, customer segment, or distribution channel. This information helps identify which products or markets are performing well and which may need adjustments in marketing strategies.
  2. Market Research: Continuous market research is vital for manufacturing firms to stay updated on customer preferences, market trends, and competitive landscape. Marketing control techniques involve regularly reviewing and updating market research data to adapt strategies accordingly.
  3. Budget Control: Managing marketing budgets is essential to ensure that resources are allocated effectively. Manufacturing firms can use budget control techniques to compare actual spending against planned budgets and make adjustments as necessary.
  4. Competitive Analysis: Keeping an eye on competitors is crucial in manufacturing. Marketing control involves monitoring competitors’ strategies, pricing, and positioning to identify opportunities and threats.
  5. Customer Feedback: Manufacturing firms can collect customer feedback through surveys, reviews, and direct interactions. Marketing control techniques include analyzing this feedback to identify areas for improvement and better meet customer needs.
  6. Distribution Channel Management: Manufacturing firms often rely on various distribution channels to reach customers. Marketing control involves assessing the performance of each channel in terms of sales, cost-effectiveness, and customer satisfaction.
  7. Advertising and Promotion Evaluation: Manufacturing firms run advertising and promotional campaigns to create brand awareness and stimulate sales. Marketing control techniques help evaluate the effectiveness of these campaigns, measuring metrics like ROI (Return on Investment) and brand exposure.
  8. Product Life Cycle Management: Manufacturing firms often offer products with varying life cycles. Marketing control techniques help track where products are in their life cycle and adjust marketing strategies accordingly, such as deciding when to invest in product development or discontinue a product.
  9. Key Performance Indicators (KPIs): Developing and monitoring KPIs specific to marketing efforts is a fundamental marketing control technique. These KPIs may include customer acquisition cost, customer lifetime value, conversion rates, and market share.
  10. Marketing Mix Adjustment: Manufacturing firms can use marketing control techniques to assess and modify elements of the marketing mix (product, price, place, and promotion) to better align with market demands and business goals.
  11. Return on Investment (ROI) Analysis: ROI analysis helps manufacturing firms determine the profitability of marketing campaigns and initiatives. This involves calculating the net return generated from marketing investments and comparing it to the costs incurred.
  12. Periodic Performance Reviews: Regularly scheduled performance reviews allow manufacturing firms to assess their marketing strategies and make necessary adjustments. These reviews can involve cross-functional teams and external consultants for a comprehensive evaluation.

In summary, marketing control techniques in manufacturing firms are essential for optimizing marketing strategies, improving resource allocation, and ensuring that the company’s marketing efforts are in sync with its broader business objectives. By implementing these techniques, manufacturing firms can adapt to changing market conditions and remain competitive in their respective industries.