Impact of Personal Selling and Sales Promotion Strategy on Market Performance of Selected Manufacturing Companies in Lagos State, Nigeria (Published)
Understanding how personal selling and sales promotional strategy impact on the market performance after high capital investments is crucial to the contribution of the food and beverage companies in national economic growth; however, there is dearth of information on this subject matter. The main objective of the study is to examine the effect of personal selling and sales promotion strategy on the market performance of selected manufacturing companies in Lagos State Nigeria. specifically, the study determine the effect of sales promotion on the market performance of manufacturing companies in Lagos Nigeria and determine the effect of personal selling on the market performance of these manufacturing companies in Lagos Nigeria. Econometric technique involving descriptive research, correlation coefficient and multiple regressions was used for the data analysis. A population and sample of 24 product promotional related managers were drawn through a census sampling technique. Two research instruments – Annual Report/Financial Statement and Questionnaire were used for data collection. The result of the study indicates that there is significant predictive impact of sales promotional strategy on the market performance and that there is significant contribution of the promotional tool on the profit margin level of all six companies. the stud therefore conclude that personal selling and sales promotion strategy have positive and significant impact on market performance of selected manufacturing companies in Lagos, Nigeria. Amongst the recommendations is that staff saddle with the implementation of personal selling and sales promotional strategy should devote time and resources into it since it largely influence profitability of the companies.
Citation: Ibeh, J.I, Nnabuko J.O and Nwajimeje J.(2022) Impact of Personal Selling and Sales Promotion Strategy on Market Performance of Selected Manufacturing Companies in Lagos State, Nigeria; British Journal of Marketing Studies, Vol. 10, Issue 5, pp.,54-74
Keywords: Manufacturing Companies, Market Performance, Nigeria, Personal Selling, Sales Promotion.
Strategic Marketing Practices and Non- Financial Performance of Selected Manufacturing Firms in Lagos State, Nigeria (Published)
Manufacturing companies in Lagos State has been experiencing unprecedented challenges in the globalized working surroundings that result in organisation recording low business turnover which is leading to the closure of the companies or relocating to neighboring African Country. The study, therefore, seeks to examine the strategic marketing practices and non-financial performance of selected manufacturing firms in Lagos State. A descriptive research design was adopted. The population of the study was fifty – six (56) manufacturing companies in Lagos State, out of which five (5) manufacturing companies that were strictly into food and beverages, who have reputation for making products of the best quality were selected. Each of the five (5) companies selected, an average of twenty (20) that has information to provide was used except Unilever Nigeria plc that has total numbers of twenty-one (21) staff in strategic position giving the total number of one hundred and one (101), consisting strategic managers and subordinates of food and beverages companies were used as sample size. The study hence employed the purposive sampling technique to arrive at tenable sample size. Multiple Regression and Correlation Analysis were used to analyse the data obtained. Findings show that there was a positive relationship between strategic marketing practices and the performance of selected manufacturing companies in Lagos State. Furthermore, with variables statistically significant at 95% confidence limit and sig 0.000, meaning that there was a significant correlation between the environmental scanning and business expansion of manufacturing companies in Lagos State and with R2 value = (0.505), segmentation strategy has an impact on business expansion in the selected firms. Therefore, the study recommended that manufacturing companies should have a clear understanding of both the internal and external environments through constant monitoring and evaluation of the environment. Also, manufacturing companies are expected to focus on their segmentation marketing strategy activities.
Keywords: Manufacturing Companies, Performance, Strategic Marketing, non-financial