An Assessment of the Impact of Marketing Segmentation on Production Planning in an Organization

An Assessment of the Impact of Marketing Segmentation on Production Planning in an Organization

Project / Seminar Material
Reference ID: PS-26136-TM

DEDICATION

This research material titled “An Assessment of the Impact of Marketing Segmentation on Production Planning in an Organization” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Marketing (MKT), Book Authors and Profound Scholars of existing or related project material on “An Assessment of the Impact of Marketing Segmentation on Production Planning in an Organization” for their invaluable guidance, support, and expertise throughout the journey.

I am also grateful to your study area (mention any funding organizations, if applicable) for their financial assistance. This research would not have been possible without the encouragement and assistance of some stakeholders (mention any mentors, teachers, or colleagues). Additionally, I would like to acknowledge the understanding and patience of my family and friends during this endeavor. Your unwavering support has been a constant source of motivation. Thank you all for being part of this meaningful endeavor.

An Assessment of the Impact of Marketing Segmentation on Production Planning in an Organization

TABLE OF CONTENTS

PRELIMINARY PAGES

CHAPTER ONE

INTRODUCTION

  • 1.1 Introduction
  • 1.2 Background of Study
  • 1.3 Statement of Problems
  • 1.4 Aim and Objectives of Study
  • 1.5 Research Questions
  • 1.6 Research Hypothesis
  • 1.7 Significance of Study
  • 1.8 Scope of the Study
  • 1.9 Limitations of the Study
  • 1.10 Definition of Terms

CHAPTER TWO

LITERATURE REVIEW

  • 2.1 Introduction
  • 2.2 Conceptual Review of Market Segmentation
  • 2.3 The Functions of Market Segmentation
  • 2.4 Theoretical Framework
  • 2.4.1 Evaluation of Market Segmentation Bases
  • 2.4.2 Market Segmentation Selection and Evaluation
  • 2.4.3 Evaluation of Segmentation Methods
  • 2.4.4 Overview of Marketing Strategy
  • 2.4.5 Effects of Marketing Segmentation Strategy on Production Planning
  • 2.5 Empirical Studies

CHAPTER THREE

RESEARCH METHODOLOGY

  • 3.1 Introduction
  • 3.2 Research Design
  • 3.3 Population of Study
  • 3.4 Sampling and Sampling Technique
  • 3.5 Validation of Research Instrument
  • 3.6 Method of Data Collection
  • 3.7 Method of Data Analysis
  • 3.8 Questionnaire
  • 3.8.1 Interview
  • 3.8.2 Key Informants Interview
  • 3.8.3 Observation
  • 3.9 Ethical Consideration
  • 3.10 Statistical Analysis

CHAPTER FOUR

DATA ANALYSIS, RESULT AND DISCUSSION

  • 4.1 Introduction
  • 4.2 Presentation and Analysis of Data
  • 4.3 Re-statement of Research Questions
  • 4.4 Test of Hypothesis 1
  • 4.5 Test of Hypothesis 2
  • 4.6 Discussion of Findings

CHAPTER FIVE

SUMMARY, CONCLUSION, AND RECOMMENDATION

  • 5.1 Introduction
  • 5.2 Summary of Findings
  • 5.3 Conclusion
  • 5.4 Recommendation

REFERENCES

APPENDIX A - “QUESTIONNAIRE”

ABSTRACT

The study was carried out to assess the Impact of Marketing Segmentation on Production Planning in an Organization. Investigation revealed that one of the obstacles that often lead to businesses failure is the inability of some marketing executives to formulate, plan their strategies, they operate without taking into cognizance the factors or the element both internal and external to the forms which they operate. The research design used in this report is descriptive design, utilizing questionnaire method to obtain information from the respondents for this project. A total of 200 (two hundred) respondents were selected for this study to represent the entire population of the study. Primary data were collected from the primary source which questionnaire was used as an instrument of data collection while secondary data were sources from textbooks, journals, newspapers and the internet were employed. The data were presented on a frequency distribution table and analyzed using simple percentage, while hypothesis was tested using chi-square test.

The present study hypothesized that there is need for improvement on the company market segmentation strategy on production planning. Other hypothetical result is outlined at the presentation and data analysis section. This study will guide and instruct consumers of what and how they produce their products and where they can meet them. Also, it would serve as first hand information to those in production department of the relevance of segmenting a market for their various users of their product. Based on the findings, it was recommended that Organizations should adopt market segmentation and use its strategies effectively to ensure increase sales turnover and satisfy any chosen segment well. Also, the Company should appeal to the different market segments with different promotional strategies in order to fully tap the potentials of each segment very well and satisfy the consumer in the chosen segments.

An Assessment of the Impact of Marketing Segmentation on Production Planning in an Organization

CHAPTER ONE

1.1 Introduction

Market segmentation is defined as the subdivision of a heterogeneous market into homogenous subset of customer where any subset may conceivably be selected as a market to be reached with distinct marketing mix. Similarly, market segmentation is the process by which analysts study the consumption habits, needs, desires, and buying behavior of consumers to classify their company’s overall consumer base into a number of different groups, then according to each group’ s differentiation, customers from each group should be targeted with different marketing methods. Accordingly, market segmentation is an important work done by analysts using big data. Conceptually, market segmentation also means partitioning of customers into segments, within which customers of similar needs are likely to exhibit similar behavior and hence to respond alike to the marketing mix (Weinstein, 2004).

As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the Aim and Objectives of the study. Others are Significance of the study, Scope of work, Research hypothesis and questions, Limitation of the study and Definition of terms.

1.2 Background of Study

Market segmentation is a vital issue in marketing strategy. Therefore, marketing segmentation is the sub-dividing of a market into district subset of customers where any subsets may conceivably be selected as a target to be reaching with a district marketing mix.

Kotler (2008) opines that market is a place or a geographical area where buyers and sellers meet and function, goods and services are offered for sale and transfer of ownership of title occur. The aggregate market is so huge that any single market needs to capture only a small portion of it to be very successful hence, the strategy employed. Furthermore, He articulated that market segmentation offers an efficient way for marketers to plan for attaining the desire goals and set objectives.

According to Limsitursti (2009) define marketing strategy can be viewed as the techniques, styles and way that a distributing, developing and selling of their products in order to attract the attention of its customers (Limsitursti, 2009). It is interesting to note that, each major variable, for the entire firm’s offering requires careful research and studying before short and long term marketing plans can be evaluated.

Therefore, the needs for this study goes a long way in re-organization that people as buyers and customers differ in their need, taste, family and cultural background, motivation lifestyle, and attitude towards products and purchases. It is relevance to the present time in that, this set of buyers should process distinguishing characteristics so that they may be used as marketing targets product are positioned to meet segment customer need, and a marketing mix appropriate to a particular segment may selected.

Therefore, in Nigeria where the research was carried out, the activities that was conducted is to know the Impact of Marketing Segmentation on Production Planning in an Organization.

1.3 Statement of Problems

Investigation revealed that one of the obstacles that often lead to businesses failure is the inability of some marketing executives to formulate, plan their strategies, they operate without taking into cognizance the factors or the element both internal and external to the forms which they operate. This research work is primarily concerned with studying marketing company has given and how market are been segmented in order to improve. Its operational performance thereby providing the consumers with adequate products as to how, where, what or getting them.

1.4 Aim and Objectives of Study

The aim of the study is to assess the Impact of Marketing Segmentation on Production Planning in an Organization. In achieving this aim, the following specific objectives were laid out as follows:

  1. To determine the most effective segmentation strategies to used in an organization;
  2. To identify what the requirements and what customers wants in each market for its uses;
  3. To determine the benefits of market segmentation to the consumers and the organization at large;
  4. To identify the requirements for effective market segmentation;
  5. To establish the bases of segmenting a answer market; and
  6. To solve the problems of segmenting a market on effective production planning.

1.5 Research Questions

The study came up with research questions so as to be able to ascertain the above stated objectives. The specific research questions for the study are stated below as follows:

  • Can the problems of segmenting a market be solved?
  • What are the most effective segmentation strategies to use in an organization?
  • What are the specifications customers wants in each market for its uses?
  • What are the requirements for effective market segmentation?
  • What are the bases of segmenting a answer market?
  • What are the benefits of market segmentation to the consumers and the organization at large?

1.6 Research Hypothesis

In order to pursue the objective of this study, the following generalized statements have been designed to guide and aids in obtaining the result for the experiment to be conducted. For this work, the null hypothesis will be represented with H0 while the alternative hypothesis will be represented with hypothesis H1.

Hypothesis One

  • H0: The impact of market segmentation does not affect the overall performance of an organization.
  • H1: The impact of market segmentation affects the overall performance of an organization.

Hypothesis Two

  • H0: There is no need for improvement on the company market segmentation strategy on production planning.
  • H1: There is need for improvement on the company market segmentation strategy on production planning.

1.7 Significance of Study

The study would serve as first hand information to those in production department of the relevance of segmenting a market for their various users of their product.

The relational of every organization is to maximize profit and satisfying consumers through the society.

Market segmentation will serve as eye openers to those in the marketing field of identify their potential consumers at wherever they reside.

This study will guide and instruct consumers of what and how they produce their products and where they can meet them.

1.8 Scope of the Study

The scope of the research is focused on the Assessment of the Impact of Marketing Segmentation on Production Planning in an Organization using Nigerian bottling company (NBC) Plc. Owerri, Imo State as a case study.

1.9 Limitations of the Study

During the course of this study, there were some problems encountered which stood as limitations to the research work. Some of the limitations include:

  1. Time Constraint: The time frame given to accomplish this project was very short due to school academic calendar and it was carried out under pressure which made the researcher not to implement some necessary features.
  2. Research Material: availability of research material is a major setback to the scope of the study.
  3. Financial Constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
  4. Lack of Initial Cooperation from Respondents: A particular limitation of this work came as a result of the respondent refusal to offer their cooperation at the initial time they were contacted. This contributed in making the success of this research study difficult.

1.10 Definition of Terms

Market:

A market is an area which the aggregate of forces or auditions results in decision that satisfies demand by the transfer of good and service.

Marketing:

This refers to the performance of business activities that direct the flow of good and service form producer to consumer or user.

Segment:

District identified part of market.

Market Segmentation:

It is the process of dividing the total heterogeneous markets for a production into several sub-markets or segments and each of which tens to homogenous tends homogenous in all significant aspect.

…

CHAPTER TWO

2.0 Literature Review

2.1 Introduction

This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

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