THE NATURE AND IMPORTANCE OF MARKETING PLANNING IN BUSINESS ORGANIZATION (A CASE STUDY OF NASCO GROUP OF COMPANIES)

TABLE OF CONTENTS

Title Page                                                                 i

Certification                                                             ii

Dedication                                                               iii

Acknowledgements                                                  iv

Abstract                                                                   v

Table of Contents                                                     vi

Chapter One: Introduction

1.1   Background to the Study                                         1

1.2   Statement of the Problem                                        3

1.3   Research Questions                                                 4

1.4   Research Hypotheses                                               4

1.5   Purpose of the Study                                               5

1.6   Scope of the Study                                                   6

1.7   Significance of the Study                                                 7

1.8   Limitations of the Study                                          8

1.9   Operation Definition of Term                                   9

Chapter Two: Literature Review

2.1   Introduction to the Study                                        11

2.2   Current Literature Review                                        12

2.2.1 Objective of Purchasing and Supply Activities                12

2.2.2 Organization of Purchasing and Supply                          15

2.2.3 Purchasing Order/Requisition                                18

2.2.4 Quotation and Price                                                21

2.2.5 Procedure and Receipt of Material                                  26

2.2.6 Relationship between Purchasing Department

and other Department                                             30

2.3   Relevant Theories of the Review                               32

2.4   Summary of the Chapter                                                  34

Chapter Three: Research Methodology

3.1   Research Design                                                      36

3.2   Population of the Study                                           36

3.3   Sample/Sampling Techniques                                         36

3.4   Instrumentation                                                       37

3.5   Data Collection/Analysis                                                 37

Chapter Four: Data Analysis, Interpretation and Discussion

4.1   Presentation of Data                                                39

4.2   Analysis of Data                                                       39

4.3   Test of Hypothesis                                                   42

4.4   Decision of Findings                                                48

Chapter Five: Summary of Findings, Conclusion and Recommendations

5.1   Summary of Finding                                                50

5.2   Conclusion                                                              51

5.3   Recommendations                                                   52

References                                                               54

CHAPTER ONE

INTRODUCTION

1. BACKGROUND TO THE STUDY

The Nasco Group of companies was established in Jos in 1963 by Nasirudeen’s father Ahmed Idris Nasirudeen. The company grew from its small roots to become a major conglomerate with four major manufacturing units and other investments in the service sector. The company has a strong focus on a gro-business and is involved in backward integration in this sector.

In 1981, Nasirudeen became the Managing Director of Nasco Estate Company Limited, Lagos, Nigeria. By 1983, he had become Vice President of Nasco International, Miller Italy. In 1990, he assumed the office of President of Nasco Group Nigeria Limited, until 1999, when he was elevated this time as the Vice Chairman of Nasco Group International Milar Italy. Since 2004 Nasirudeen has served in Chairman/CEO of Nasco Group Limited, Jos.

Nasco Group is one of the largest fast moving consumer goods (FMCG) companies in the West African region from its headquarters in the heart of Nigeria, the company manufacturers and distributes an outstanding collection of popular brands across the food and household sectors. Nasco takes great pride in making superior products in a manner that is consistent with the highest standards of corporate behaviour.

Nasco is very passionate about providing people with the essentials for a quality life and it has one of the most efficient distribution networks in the region ensuring that its products. Today Nasco is the largest private employer and tax payer in Plateau State, and one of the largest private employer in all of Northern Nigeria. Its various sites and offices are directly sustain the employment and livelihood of 350,000 people across the nation.

1. Statement of the Problem

The high rate of inflation in the country, the complexity of modern business activities, its interaction with the environment, dynamic and changing of marketing environment.

The present economic situation in Nigeria indicates that business organization should deliciously carry out marketing planning in order to make effective use of available scarce resources. Further, the competitive nature of business activities demands that companies should formulate their marketing efforts into an action programme that will help to increase their shares as it has been observed.

It is therefore, relevant at this period of structural adjustment programme to undertake studies on marketing planning to maximize problems encountered by companies in an attempt to integrate and coordinate their marketing efforts in a current marketing programme.

1. Research Questions

Marketing planning may be done formally or informally in a simple or sophisticated manner. Planning these days is investable when economic and other market condition pose challenge to managers. The idea behind this research work is therefore to highlight the problem against elective marketing planning in a business organization.

The pertinent statement of this research work are:

1. How does these organization implement marketing planning?
2. Does marketing planning have an impact on business organization?
3. Does effective marketing planning ensured the continual growth and success of business organization?
4. What method of control does business organization used in their evaluation of marketing planning activities?
   1. Research Hypothesis

An hypothesis is a tentative statement of plausible assumption, the validity of which is yet to be known. Here are some statements of reasonable assumption made later subjected to test.

Ho:  Marketing planning is not valuable to management decision making of an organization.

Hi:   Marketing planning is valuable to management decision making of an organization.

Ho:  Inventory management has no relationship with effective planning.

Hi:   Inventory management has a relationship with effective planning.

1. Purpose of the Study

The purpose is to analyze the importance of effective marketing planning in relation to the present companies’ product. Also to improve the local way of product thereby the generation of revenue helps the corporation to have enough financial resources to assist the consumers and workers to be able to stand on the fact instead of depending on imported raw materials.

Finally, the aim of the research is to investigate how the organization objectives are achieved and the possible means of solving problem relating to how management set up specific objectives.

1. Scope of the Study

The study examines how organization plan the requirement of a good marketing plan will also be looked into.

Finally, an attempt has been made to proffer some recommendations as solution to most marketing problem discussed.

1. Significance of the Study

The significance of this study can never be over-emphasized. The study will be very significant to the organization under the study, because it will enable them to know the importance and intricacies of marketing planning. It will enable them to know the regulation and restriction governing marketing planning.

In a similar vein, it is also significant to other organization who are engaged in producing goods with misleading information to gain a higher share of the market by reminding them of the regulations and restriction governing marketing planning.

It will also serve as an influence materials to other researchers who want to make further research into the study.

1. Limitations of the Study

The conduct of research in Nigeria is confronted with challenges in order to put together materials that are necessary for this research, some of the difficulties encountered are:

1. Time: In view of the fact that the research combines work with academics, time becomes a very limiting factor.
2. Fund: Carrying out a research requires finance in order to fulfill the set requirement to complete and ensure that the initiative of the researcher are brought together for the  completion of the research.
3. Geographical Spread: In view of the national spread of NASCO groups under study, there is the limitation of geographical coverage for interviews and additional information on collection.
4. Reluctance of divulge corporate strategies: It is participated that some of these managers may not fully disclose their marketing because of competition.
   1. Definition of Terms

In this study, the following definition is relevant to the terms in marketing planning and business organization shall be adopted

Marketing: This can be defined as people with need to satisfy, money to spend and willingness to spend it, thus, in marketing, demand for any product or services.

Services: According to American Marketing Association (AMA, 1960), defined marketing as the consisting of the performance of business activities that derive producer to consumer or users.

Marketing Planning: This involve in deciding on marketing strategies that help the company to attain in overall strategies objectives (Jotter and Armstrong, 2010).

Planning: Is a systematic and continuous managerial process involving the anticipation and assessment of problem, opportunities and corporate capabilities as well as the specification of the goals to be achieved and the actions to be undertaken to achieve them (Cherington, 1928).

Business: This is an enterprise or firm, as an organization involved in the trade of goods and services, or both to consumer. Business is prevalent in capitalist economics, where most of them are privately owned and provide goods and services to customers in exchange of other goods, services or money (Kotler, 1988).

Organization: Is a social unit of people that is structured and managed to meet a need or to pursue collective goals. Organizations are open system – they affect and are affected by their environment.