Etymology[ edit ] The word, brand, derives from its original and current meaning as a firebrand, a burning piece of wood. That word comes from the Old High Germanbrinnan and Old English byrnan, biernan, and brinnan via Middle English as birnan and brond. Later the firebrands were replaced with branding irons. Through that association, the term eventually acquired its current meaning.
Volume 11, Issue 4 Jul. This research paper investigates the impact of marketing strategy on business performance with special reference to the selected SMEs in Oluyole local government area Ibadan, Nigeria.
The survey research design method was used in this study which involves using a self-design questionnaire in collecting data from one hundred and three respondents.
The instrument used in this study is a close-ended questionnaire that was designed by the researchers. Correlation coefficient and multiple regression analysis were used to analyze the data with the aid of statistical package for social sciences SPSS version The results show that the independent variables i.
The independent variables jointly explained Subsequently, recommendation were made to SMEs operators to produce quality products; charge competitive prices, position appropriately, use attractive package for the product, engage in after sales service and provide other distinctive functional benefits to consumers.
Submitted date 04June Accepted Date: Introduction The current globalization market has made companies to see the internationalization of their activities as a way to remain competitive. Marketing strategy has become important tool globally for any organization to remain in competitive market environment and was stronger.
Aremu and Lawal sees strategy as a pattern ofresource allocation decisions made throughout an organization. This encapsulates both desired goals and beliefs about what areacceptable and most critically unacceptable means for achievingthem.
Aremu and Lawal, say that strategy implies that the analysis of the market and itsenvironment, customer buying behaviour, competitive activitiesand the need and capabilities of marketing intermediaries.
Marketing strategy therefore, can be defined as a method by which a firm attempts to reach its target markets. Marketing strategy starts with market research, in which needs and attitudes and competitors' products are assessed and continuesthrough into advertising, promotion, distribution and where applicable, customer servicing, packaging, sales and distribution.
Marketing strategy must focus on delivering greater value to customers and the firm at a lower cost Chiliyaet al, Owomoyelaet al, also see 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. Small and medium enterprises SMEs are the engine of economy growth and development globally, Nigeria inclusive.
By their very nature, SMEs constitute the most viable and veritable vehicle for self-sustaining industrial development Oyebamiji, kareem and Ayeni. SMEs in developing countries, like Nigeria are struggling to survive under intense competitive environments both domestic and international.
Oyebamiji, kareem and Ayeni discover that Small and Medium Enterprises SMEs in Nigeria have not performed creditably well and hence have not played the expected vital and vibrant role in the economic growth and development of Nigeria.
They note that the situation has been of great concern to the government, citizenry, operators, and practitioners. Small and medium enterprises SMEs operators need to provide a quality product with good packaging that satisfies customer needs, offering affordable price and engaging in wider distribution and back it www.
The main objective of this research work is to examine the impact of marketing strategies on business performance with special reference to the selected small and medium enterprises SMEs in Oluyole local government, Ibadan, Nigeria.
Literature Review There are numerous definitions of marketing strategy in the literature and such definitions reflect different perspectives Liet al, However, the consensus is that marketing strategy provides the avenue for utilizing the resources of an organization in order to achieve its set goals and objectives.
Marketing strategy is define as in a given market area, the proper allocation of resources to support enterprises to win competitive advantage. Goi define marketing strategy as the set of the marketing tools that firms use to pursue their marketing objectives in the target market; the view which was earlier expressed by Gronroos,and Osuagwu, Therefore, the function of marketing strategy is to determine the nature, strength, direction, and interaction between the marketing mix- elements and the environmental factors in a particular situation.
Managerial judgment is important in coping with environmental ambiguity and uncertainty in strategic marketing.
Lin as cited in Long-Yi and Ya — Huei, proposes that marketing strategy can be divided into four ways to research that: He use a total of 29 questions to measure new product marketing strategy and seven points Likert scale is used to measure.
When the industry lack of competition, the business performance would be better even when companies are not entirely market-driven, the performance will have a more excellent performance Kohliet al. Leonidou, Katsikeas and Samiee propose a study in which a meta-analysis was also conducted to evaluate the relationships between the marketing strategies and performance.
They further define a consumer product as the product bought by the final consumer for personal consumption. Consumers buy products frequently, with careful planning, and by comparing brands based on price, quality and style.
Borden, sees a product as about quality, design, features, brand name and sizes. Mohammad et al, also say that product is the physical appearance of the product, packaging, and labelingInformation, which can also influence whether consumers notice a product in-store, examine it, andpurchase it.
Price can be stated as the actual or rated value of a valuable product which is up for exchange; some define it as amount of money paid for product Kotleret al, The Module Directory provides information on all taught modules offered by Queen Mary during the academic year The modules are listed alphabetically, and you can search and sort the list by title, key words, academic school, module code .
How to Prepare for IFRS I really do think that IFRS 15 is a huge change and it requires a massive amount of work not only from accountants, but also from IT departments, tax people and maybe other departments in your company, too.
In this study, the researcher examined the impact of good customer service on the performance of Telecom, Companies in Ghana- a case study of Vodafone Ghana Limited. The study concluded that customer service, satisfaction and customer retention have positive impact on performance of Telecom companies in Ghana.
The purpose of this study is to investigate those factors that can influence customer satisfaction in cellular industry in Peshawar region.
In real, every organization wants to maximize the number. IMPACT OF SALES PROMOTION ON CUSTOMERS PATRONAGE IN THE TELECOMUNICATION SECTOR: (A case study of ETISALAT in Ibadan, Oyo State) Abiola1 Akande Bowen University, Iwo, Osun State.
Managing the Marketing Promotion Decisions: Advertising, Sales Promotion,Personal Selling, Public Relations, Direct & Online Marketing 6 Books recommended Providing superior service - Measuring and monitoring customer satisfaction.
6 II. Strategic Planning: Meaning, Definition of strategic marketing planning, Strategic Planning .