Full Project – Impact of marketing research on organizational performance
- Background of the Study
For several years, marketing as a field has proven to be a vigorous one. Its revolution from mere buying and selling activities to a multifaceted structure which is considered as the key to an organization’s success is evidence to support its relevance. Marketing is extremely central to the existence of any organization and its success depends largely on the product or service scale rendered by an organization to the potential customers. Marketing research has been a very crucial activity in business management for centuries. Its advancement was hastened by the emergence of the industrial revolution when research into marketing activities was at its basics and remained untapped for several centuries and it remained an insignificant part of a firms’ marketing strategies until the exit of World War II when Technological Revolution was introduced, which brought along a promulgation of new and multifarious consumer products, improved economies of scale, emerging markets and widespread expansion in business operations. A key development in the post-war was an increasing rate of business failure.
Marketing is a dynamic business activity, and the roles it plays in the existence of a business have evolved significantly due to rising events of economic recession, inflation, material and energy scarcities, unemployment, winding up of industries and firms, terrorism and war. And this can also be attributed to the changes in technological advancement, witnessed by the introduction of the internet. All of these have forced marketing executives to become more market-driven when making strategic decisions. This necessitates a ceremonious means of obtaining timely and precise information about changes in consumers’ taste, product demands and the general marketing environment and these can only be achieved through comprehensive marketing research (Scott & Gerald, 2010; Moravcikova et al., 2017).
All modern organizations engage in marketing to please and win the loyal support of their customers. Darma Poultry farm engages in marketing to find out the needs and requirements of egg, banks engage in marketing research to know about its customers’ financial service requirements and Inland Revenue engages in market research to know the needs and requirements of taxpayers and other clients (Ayuba & Kazeem, 2015).
The development of a product is useless where there is no guaranteed market for the product. Also, the creative idea is useless where such an idea could not translate to a marketable product. A marketable product is essential for business survival for that is the only means through which organizations can gain recognition, goodwill and customer loyalty. To produce a marketable product, the view and opinion of the product’s target market is paramount and could be sourced through the collection of data, analysis of the collected data, and application of the result for decision making within the organization. A primary means of obtaining data for effective and efficient decisions in an organization is marketing research. An investigation into the influence of marketing research on organizational productivity is deemed appropriate since it is assumed that marketing research promotes the achievement of effectiveness and efficiency in business organizations.
Even though the relevance of marketing research to business survival is a known concept in most countries of the world, it is still yet to be known to some of our indigenous business owners. A few businesses that show interest in these research only adopted them as a matter of routine. The information gathered has never been adequately utilized and hence basing their market and marketing-related decisions on unscrupulous information. Firms face difficulty in coordinating marketing research variables such as gathering information about how their products meet customers’ expectations produced by advertising, packaging, and product appearance and this tends to affect their sustainability in the global market. If companies want to improve their product performance and maintain a viable competitive advantage in the market, they must offer products or services which attract customers’ attention. Most companies appear successful over a period of time after launching into the market with new and attractive products or appealing services, but most often experience difficulty in retaining their relevance for a long time due to failure to continually gather information about changes in the market situation.
Therefore, since it is expected that the works of previous authors are reviewed in this work, it is also essential that a new aspect of the marketing research with relation to its adoption by organizations is examined. It is on this basis that this study shall be carried out with the main objective of examining the role played by marketing research in improving organisational performance. In order to overcome all these challenges, the study seeks to examine the impact of marketing research on organisational performance, a case study of Darma Poultry Farm Katsina.
- Statement of the Problem
Naturally, every business exists to achieve its objectives which is principally making profit but before such profit could be made the organization have to run into problems that may hinder effectiveness of such company. The terms market research and marketing research are usually interchanged by marketing practitioners. While market research is concerned specifically with markets, marketing research is all about marketing process
Therefore, this research work is in doubt to know whether poor research work has any effect to the product quality Darma poultry farm. It is also unclear to the researcher if the use of marketing research is the better way of satisfying the customer needs. The researcher is also doubtful to the research whether the research study is necessary for marketing of Darma poultry farm products.
Therefore, based on good research outputs, marketing managers make decisions about potential opportunities, target market selection, market segmentation plan and implement marketing programmes while assessing marketing performance. The extent to which marketing research has affected business decision making in organizations constitutes what this research work intends to achieve.
1.3 Research Objectives
The broad objective of this study is to examine the impact of marketing research on organizational performance. The specific objectives are to:
- To examine the effect of sales research on market performance of Darma Poultry Farm Katsina.
- To determine the role of promotion research on customers’ preference in Darma Poultry Farm Katsina.
- To determine whether poor research work has any effect on the product quality of Darma Poultry fram Kar\tsina.
- To know whether marketing research has help to achieve the goals and objectives of Darma Poultry farm Katsina.
- To find out whether marketing research increase sales volume of Darma Poultry Farm product.
1.4 Research Questions
- What is the effect of sales research on market performance of Darma Poultry Farm Katsina?
- What is the role of promotion research on customers’ preference in Darma Poultry Farm Katsina?
- Does poor research work have any effect to the product quality of Darma Poultry farm in Katsina?
- Has marketing research helped in achieving the goals and objectives of Darma Poultry farm Katsina?
- Does marketing research increase sales volume of Darma Poultry farm product?
1.5 Significant of the Study
The study is aimed at broadening the knowledge on the use of marketing research in enhancing the organizations performance. It helps by showing various areas where organizations can carry out research for the growth of the organization and where business organisations should put more emphasis for a better result.
Also, the research study would be of benefit to Darma Poultry farm Katsina in particular and to other small, medium and large scale businesses in general. This study is important to the researcher that it will enable him acquire more knowledge in the area of marketing research. It will act as a guide to the case study and other firms in carrying out marketing research for their products.
Furthermore, the study is important because it will increase the body of academic knowledge available as a research study. Also, the study is aimed to open up a way for other researchers to conduct further studies on the issues related to the use of marketing research in organization performance.
1.6 Scope and Limitation of the Study
The emphasis of this study is the impact of marketing research on the organization performance of Darma Poultry farm Katsina. However, efforts were made to identify with other organizations within Katsina metropolis and at the end, conclusive reports were drawn for the success of this work.
In a quest for the researcher to obtain intensive and conclusive information necessary for a comprehensive work on this study were restrained by the following:
- Financial constraint: There were so many requirements which were needed during the whole research exercise. The researcher did not have a sponsor to pay for the study. Therefore, he used his own resources to meet the research expenses.
- Limited time: The research topic covered a wide area. Therefore, it needed a lot of time to reach the entire respondents.
- Confidentiality of information: Some of the information were treated as confidential and, therefore, the researcher was denied access to it by the respondents.
- Uncooperative attitudes by potential respondents: This was a common problem where common people who did not know the importance of the research and even the educated once that were used to giving out the opinions and see nothing being done were not willing to cooperate with the researcher.
1.7 Research Structure
The work is divided into five chapters with chapter one consisting of the Introduction part which consists of background to the study, statement of the problem, research Objectives, research questions, research hypothesis, significance of the study, scope and limitation of the study, definition of terms and chapter scheme.
Chapter two literature review, conceptual framework, review of empirical literature and the theoretical framework
Chapter three is concerned with research methodology, the instrumentation and research design, sample and sampling techniques, method of data collection and method of data analysis.
Chapter four contains data analysis and findings while chapter five which is the last chapter of the research work deals with the summary, conclusion and recommendations of the research work.
1.8 Definition of Terms
- Anticipation: the fact of seeming that something bad happening in future and control it now.
- Satisfaction: the good feeling that you have achieved what you want to achieve
- Diversification: to develop a wider range of products interest skill in order to be more successful or reduce risk.
- Forecast: a statement about what will happen in future base on information that is available now.
- Marketing: These are ways in which an organization matches its own human, financial and physical resources with the wants of its customers.
- Sales Promotion: These are those marketing activities other than personal selling, advertising and publicity that stimulates consumers buying power.
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Full Project – Impact of marketing research on organizational performance