Effectiveness Of Market Segmentation And Brand Positioning As Marketing Strategies That Can Be Used For Consumer Satisfaction

Description

TABLE OF CONTENT

COVER PAGE

APPROVAL PAGE

DEDICATION

ACKNOWLEDGEMENT

TABLE OF CONTENT

• INTRODUCTION
• BACKGROUND OF STUDY
• STATEMENT OF THE PROBLEM
• AIM AND OBJECTIVE OF THE STUDY
• SIGNIFICANCE OF THE STUDY
• SCOPE OF THE STUDY
• LIMITATIONS AND CONSTRAINTS TO THE STUDY

CHAPTER TWO

2.0       LITERATURE REVIEW

2.1       CONCEPT OF CONSUMER SATISFACTION

2.2       MEASUREMENT OF CONSUMER SATISFACTION

2.3       CONCEPT OF MARKETING STRATEGY

2.4       TYPES OF MARKETING STRATEGY

2.5    CONCEPT OF BRAND POSITIONING

2.6   TYPES OF BRAND POSITIONING

2.7   CONCEPT OF MARKET SEGMENTATION

2.8   PARAMETERS FOR MARKET SEGMENTATION

CHAPTER THREE

METHODOLOGY

3.0    RESEARCH METHODOLOGY

3.1       RESEARCH POPULATION AND SAMPLE

3.2       RESEARCH DESIGN

3.3       INSTRUMENTS OF DATA COLLECTION

3.4       ADMINISTRATION OF THE INSTRUMENTS

3.5       METHOD OF DATA ANALYSIS

CHAPTER FOUR

4.0       DATA PRESENTATION AND ANALYSIS

4.1       BRIEF HISTORY OF STRATEGY FOR MARKETING LACASERA APPLE DRINK

4.2       LACASERA APPLE DRINK IN THE SOFT DRINKS MARKET IN NIGERIA

4.3    FACTORS INFLUENCING THE SEGMENTATION AND POSITIONING OF LACASERA IN THE MARKET

4.4    EFFECTS OF MARKET SEGMENTATION AND BRAND POSITIONING STATEGIES OF LACASERA ON THE SATISFACTION OF ITS CONSUMERS

CHAPTER FIVE

5.0       SUMMARY, CONCLUSION AND RECOMMENDATION

5.1      SUMMARY OF FINDINGS

5.2       CONCLUSION

5.3       RECOMMENDATIONS

CHAPTER ONE

1.0   INTRODUCTION

1.1 BACKGROUND OF STUDY

It is obvious that companies cannot connect all customer in large, broad or diverse market and as a result of the needs to divide market into groups of customer or segments with distinct needs and wants. It is therefore paramount for a company to identify which market segment to serve better. It is required that a keen understanding of consumer behavior and careful strategic thinking before the objective can be achieved. In an attempt to increase benefit to consumers, this will aid marketers to know how best to satisfy each category of these customers. Having selected a target market or markets, the organization then has to decide on what basis it will compete in the chosen segment or segments. How best can it combine its asset and competencies to create a distinctive offering in the market? Consumer will position a product in their mind in their relation to other products in the market based on their perception of the key attributes it contains. The overall intent is to identify groups of similar customers and potential customers, to prioritize the groups, to address, to understand their behavior and to respond with appropriate marketing strategy that satisfy the different performance of each chosen division and thereby improve the company revenue.

1.2 STATEMENT OF THE PROBLEM

The quest for most marketing decision a firm make is the selection of one or more market segment on which to focus. Firms are faced with the difficulties at identifying and selecting particular market target and satisfying them by blending the marketing mix elements. Some firms find it excruciating to develop market segmentation and brand positioning strategy and consider it as an expensive and time consuming exercise which can result into inadequate information to sum up as a research problem.

1.3 AIM AND OBJECTIVE OF THE STUDY

The main focus of this research work is to find out the effectiveness of market segmentation and brand positioning as  marketing strategies that can be used for consumer satisfaction. Therefore, to achieve the aim of this research work. The following objectives need to be considered:

1. To enumerate the importance of firms adopting the strategy of market segmentation in order to achieve organizations objective of consumer’s satisfaction and profitability.
2. To examine the parameters for market segmentation and its relationship on consumers satisfaction.

• To establish the relevance of market segmentation and its effectiveness on brand positioning.

1. To determine the degree to which the organization practices market segmentation.
2. To highlight the limitation of the market segmentation.

1.4 SIGNIFICANCE OF THE STUDY

This research work is very significant and it will benefit the following beneficiaries:

1.4.1 Discipline: The discipline of marketing will benefit in this research work because it will serve as a reference for a similar research work. It will therefore serve as a secondary source of information to other researches.

1.4.2 Case Study: The organization which serve as the case study (Lacasera company plc Lagos) will benefit a lot from conclusion of this research work and it will help to improve their marketing activities it will enable the firm to re appraise the segmentation strategy applied in their business and make better use of marketing resources and effort in their marketing activities.

1.4.3 Society: This study is significant to the society in such a way that brand has its effect on the product and its influence on the consumer satisfaction. It will impact knowledge about how consumer can derive satisfaction from a product beyond the value it offers. Lacasera Apple drink enriched in nutrient facts and incredible health benefits to its consuming publics.

1.4.4 Researcher: It will be an added value and benefit to the researcher and whatever findings and recommendations in related topics. The study will also widen the knowledge of the researcher in the course of conducting the research, and in the course of completing the research work, it will be an essential requirement for the partial fulfillment of Higher National Diploma in marketing to the researcher.

1.5 SCOPE OF THE STUDY

This study covers the consumers of the product (Lacasera Apple Drink) in Nigeria. However with the vast number of manufacturer of consumer product, it will focus basically and as follows:

1.5.1 Conceptual Scope: the study covers the concept of market segmentation and brand positioning as effective marketing strategies for consumer satisfaction in the Nigeria.

1.5.2 Industrial Scope: The industrial scope of this research work is Lacasera company PLC., Lagos.

1.5.3 Geographical Scope: The research work geographical scope is limited to the company location situated at coker, Lagos.

1.5.4 Time Scope : this study covers the period between 2012 to date where the company records of investigation were obtained.

1.6   LIMITATIONS AND CONSTRAINTS TO THE STUDY

It is a tasking job to conduct research of this nature and thus a number of constraints are prevalent in the course of the investigation.

1.6.1 Finance: Financial constraint is one major problem encountered because of the depressed economy and limited financial resources available for the study. This has restrained the researcher from conducting a detailed survey.

1.6.2 Time: The duration of the time required for the research work is too short, thus constraining the liberty to search further for more information.

1.6.3 Cooperation: The company employees and the executive proved uncooperative during the search for data about the company’s activities in relation to subject matter. The executive were elusive because of the fear of exposing crucial information regarding the firm to competitors.

1.6.4 Materials: Unavailability of book to source for relevant data posed a problem, the Kwara State Polytechnic Library is stored with few books and those available were outdated or irrelevant to the research topic.

In the face of these limitations, the research work was able to achieve its set objectives. It is fortified enough to be relevant in the area of its significance.