MARKETING STRATEGY AND ORGANIZATIONAL PRODUCTIVITY: A CASE STUDY OF CHICKEN REPUBLIC UYO
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This research was set to investigate the influence of marketing Strategy on organizational productivity, using Chicken Republic Uyo as a case study. The study enlightened the techniques and effects of various marketing strategies in winning customer’s loyalty and improving organizational performance.This study employed mixed methods research design that used both qualitative and quantitative approaches in a single study to gather or analyze data.The study employed simple random sampling techniques. A sample size of 30 respondents from Chicken Republic in Uyo were purposely selected for the study. The study adopted a survey design, since this method allows determination of sample characteristics for a large group in a very short time.From the findings, it was clear thatthe marketing strategy of Chicken Republic Uyo affect it productivity through the enhancement of customer value which facilitate increase in sales. Also, the marketing strategy adopted by Chicken Republic Uyoare basically customer service strategy, advertising, quality improvement as well as unique packaging and effective distribution channels. As such it was recommended thatChicken Republic Uyoshould focus more on customer satisfaction and retention strategy and improve the quality of their services.
1.1 Background to the Study
Organizations today sees marketing strategy as an important tool that enhance their performance and enables them stay competitive in the global market. The competition in the global market recently reveals the need for companies to strengthen their marketing strategy to retain their customer’s loyalty. A well planned marketing strategy entails where an organization will be in terms of productivity in a long-term basis of consistency. The four key components of marketing mix which are; price, product, place/distribution and promotionmust be coordinated and moved into a unified effective strategy if a company’s product/services must perform well in the market.To achieve this, there are specific strategies for targeted markets, marketing mix and marketing budget.According to (Owomoyela, et al, 2013), the purpose of the development of an organization’s marketing strategy development is to create, build, defend and maintain its competitive advantage.
Ebitu, (2015), sees marketing strategy as way of providing a quality product that satisfies customer needs, offering affordable price and engaging in wider distribution and back it up with effective promotion strategy. Marketing strategy is a vital prerequisite of industry’s ability to strengthen its market share and minimize the impact of the competition.Marketing strategy is a vital prerequisite of organization’s ability to strengthen its market share and minimize the impact of the competition (Adewale, Adesola, & Oyewale, 2013). According to (Goi, 2015), marketing strategy is a set of marketing tools that firms utilize to pursue their marketing objectives in the target market. Marketing strategy can also be seen as a plan by a company to differentiate the company to differentiate itself positively from its competitors, using its relative strength to better satisfy customer needs in a given environment (Jain, 2014).Marketing strategy draws its strength from the overall corporate strategy. It may be defined as those marketing programmes and tactics designed to achieve the objectives of an organization. A marketing strategy outlines the strategic direction and tactical plans that marketing teams must implement to support the company’s overall objectives (Ebitu, 2015, p. 278).
Productivity is a ratio to measure how well an organization converts input resources (labor, materials, machines, money) into goods and services (Tokarčíková, 2013).Organizational productivityis the capacity of an organization, institution, or business to produce desired results with a minimum expenditure of energy, time, money, personnel, materiel, and so on. Organizational productivity is about assessing and improving the efficiency and effectiveness of public and private sector organizations.Marketing strategy in any organization articulates the best uses of a business resources and tactics to achieve its marketing objectives. It entails which opportunities are to be pursued by an organization, indicates the specific markets towards which activities are to be targeted, and identifies the types of competitive advantage that are to be developed and exploited (Dzisi & Ofosu, 2014).
Every organization understands that customers have every right to be adequately informed about any product of their choice. Therefore, marketing strategy focuses its attention upon certain variables that serve as a tool of function in getting customers fully informed about a certain product or services. In order to measure marketing strategy effectiveness, an organization has to break down its marketing function into constituent parts, along with a mechanism through which to analyze the interaction between those parts. By doing this, management will finally be in a position to relate marketing expenses to shareholder value and to understand how to tie marketing initiatives back into the value created for the organization. Decision-makers will be able to understand the internal motives that propel the marketing value of the business. The manipulation of the following marketing variables namely price variation and price promotion, research, advertising, product differentiation, quality, packaging and place will yield in-creased returns for firms.
1.2 Statement of the Problem
Every business requires adequate marketing strategies to remain competitive and productive in business. The general business problem often encountered by small and medium scale business owners in Nigeria is lack of expertise to manage the suitable marketing aspect of their businesses. The primary goal of every business organization is to maximize profit and to achieve this goal; it befits the marketing manager of such organization to plan and implement policies which will maximize the income per unit of capital employed in the business. It is said that understanding of consumer needs and wants is important to successful marketing just as competition is significant at influencing how successful an organization’s business enterprise can be. It is imperative to note that it is not simply a matter of producing a good product or service alone that meet the customers’ wants and needs that give customer satisfaction, but how well the product or service is introduced to them. In one way or the other, some firms and companies are able to do this but some are more successful in the market place than others. The researcher observed that within Uyo metropolis, the specific business problem was that major eateries lacked marketing strategies to sustain their business growth over time.It is against this that the researcher intends to carry out a study on marketing strategy and organizational productivity, a case study of Chicken Republic Uyo.
1.3 Objectives of the Study
The primary aim of this study is to examine marketing strategy and organizational productivity. The specific objectives are;
- To ascertain the impact of marketing strategy on organizational performance of Chicken Republic Uyo.
- To determine the challenges of measuring marketing strategy in relation to organizational productivity in Chicken Republic Uyo.
- To ascertain the relationship between marketing strategy and organizational productivity.
- To evaluate the social media strategies used in advertising products and services in Chicken Republic, Uyo.
1.5 Research Questions
The following research questions would act as a guide to this study:
- Are there any significant impact of marketing strategy on organizational performance of Chicken Republic Uyo?
- What are the challenges of measuring marketing strategy in relation to organizational productivity in Chicken Republic Uyo?
- Are there any significant the relationship between marketing strategy and organizational productivity?
- Does Chicken Republic Uyo adopt social media strategies in advertising their products and services?
1.5 Research Hypotheses
The following statements of hypotheses were formulated by the researcher to be tested in the course of the study;
H0: There are no impact of marketing strategy on organizational performance of Chicken Republic Uyo.
H1: There are impact of marketing strategy on organizational performance of Chicken Republic Uyo.
H0: There is no significant relationship between marketing strategy and organizational productivity.
H2: There is a significant relationship between marketing strategy and organizational productivity.
1.6 Significance of the Study
The study seeks to help minimize low productivity in organizations which is a real problem which needs attention and needs to be urgently addressed. The findings from this study will therefore be of importance to themanagement of Chicken Republic, the realization that eatery business is one of the highly competitive business locally and nationally calls for aggressive marketing department to adopt properly formulated marketing strategies for success of the organization. Therefore, findings from this research would be of great importance by the virtue that, through them, managers of company would be better positioned to gauge their companies’ performance and improve where necessary to enhance the market performance of their respective organizations and overall ranking in the industry.
The findings of this study would add to the body of knowledge on marketing strategy and their link to organizational productivity. Consequently, to scholars who may be interested in the same area of study, it will serve as a source of reference material and basis upon which further studies can be developed.
1.7 Delimitation of the Study
The study will be a success because the researcher has prepared adequately in terms of funds to carry out the study, permission from the management of Chicken Republic Uyo branch and enough time to carry out the study. The study has been done onmarketing Strategy on organizational productivity in Chicken Republic Uyo.
1.8 Limitations of the Study
The study encountered the following challenges
- The first limitation was that the research was restricted to a single case study. To an extent, generalizing the results of a single case study could cause difficulties when attempting to assign the outcome(s) to the business population as a whole.
- Suspicions: Some of the respondents might suspect that the researcher has a hidden agenda due to the competition in the business. The respondents would hesitate in answering questions and thus give incorrect answers. The researcher assured the respondents of confidentiality of information given by respondents.
- Time factor: due to the limited time given, the researcher had to adopt a busy schedule to include working on weekends to meet the deadline.
- Lack of finances the researcher spend a large amounts of money in gathering materials, collecting data and administering questionnaires.
1.9 Definition of Terms
Marketing: The performance of business activities that direct the flows of goods and services from the manufacture to the consumer.
Marketing Strategy:Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage.
Productivity:Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time.
Marketing Mix:These is the four Ps of marketing; price, promotion, product and public relation.
Price: Price refers to the monetary values of product.
Product: Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need. It includes objects, services, person’s places, organization and ideas.
Service: Is any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Its production may or may not be tied to a physical product.
Consumer Value: Is the different between the values the customer’s gains from owing and using a product and the cost of obtaining the product.
Customer Satisfaction: The extent to which a product perceived performance matches a buyer’s expectations. If the product does not perceive performance, the buyer is dissatisfied. If performances match or exceed expectations, the buyer is satisfied or delighted.
Manufacturer: the owner of a factory or company that produced goods or services.
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