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The Impact Of Marketing Mix Strategy On The Growth Of A Firm
[A CASE STUDY OF LUBCON NIGERIA LIMITED, ILORIN]
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1.4 STATEMENT OF HYPOTHESIS
i. Ho: Quality product leads to consumers satisfaction
Hi: quality product does not lead to consumers’ satisfaction.
ii. Promotion activities have no effects on the sales volumes
iii. Ho: marketing strategy normally pursued by organization without consumers consideration would normally succeed.
iv. Hi: marketing strategy pursued by organization without consumers consideration normally failed.
1.5 SIGNIFICANCE OF THE STUDY
This study will have a prominent place in the operation of virtually of all business organization, most importantly to new investors seeking to establish a new business as it would serve as guide to them in their plan and decision making. It will also give the researcher an experience and exposure to various particular marketing activities.
Not only that, it will similarly serve as secondary date for students embarking on related researches for further reading.
1.6 SCOPE OF THE STUDY
The research topic focus on the impact of marketing strategy on the growth of a firm, and the scope of this research is limited to Lubcon Nigeria limited, particularly it’s Ilorin depot, headhunter, and customers in Ilorin.
1.7 LIMITATION OF THE STUDY
The study was limited by finance particularly, because the researcher has to combine classes with the other academic engagements to the task of writing this project.
Also sort time frame from the completions of the project work did not permit wide latitude of data collection. Not only that the cost of transportation gathering materials for the project and other unanticipated cost were also borne by the researcher.
1.8 HISTORICAL BACKGROUND OF THE STUDY
LUBCON LTD and Gas Company was incorporated in August 1991 as a limited liability company to engage in business of blending lubricants together with distribution and sales of petroleum and allied products.
The company’s head quarters and A’s plant are located at lubcon Avenue, Adeqale Industry Layout, Ilorin Kwara State.
The initial stage of operation in Lubcon Company Started with staff including the Chairman himself (ALH. JANI IBRAHIM).
During these times, they managed to produce 25 cartoons per day and distributed their product with only one pick up van.
Over the years, the company has grown to be the biggest and fastest growing independent lubricant blending company in Nigeria with an ultra modern blending plant of 10,000,000 liters capacity per annum on a single shift located at Adewale Layout, ilorin, in addition the company has a mine blending plant of 2.5 million liters capacity per annum located along Zaria road Tranburawa, Kano.
In 1995,Lubcon became the Association (NATA). In recognizing the quality products of the company, Lubcon was first company in Nigeria to be awarded the prestigious NIS award (Nigeria Industrial Standard) for lubricating oil. In 2002, Lubcon became the first indigenous oil and gas company to be certified in Nigeria.
In 2005, it became the oil company to blend a Lubricant For National Union Of Petroleum And Natural Gas Workers (NUPENG).
Also in 2006, (NURTW) Nigeria Union Of Road Transport Workers made Lubcon its official blender.
Lubcon is product that are of different types and in sizes. It manufactures product like super TV 50, Lubcon Adrenalin 2000/50, Lubcon motor lube, Lubcon Grease, Lubcon 2T, Lubcon perform XV 50, Lubcon super outboard. These product are packaged in different size ranging 0.s liters, 1 liter, 2 liters, 4 liters, 5 liters, 185 liters and 200 liters.
In an attempt to distribute its wide range of products, the company maintain a network of active retain outlets in more than 63 location all over Nigeria. In addition, Lubcon is in joint partnership with Nigeria.
1.9 DEFINITION OF TERMS
MARKETING MIX STRATEGY
It is the combination of four elements of marketing mix in right proportion to achieve a firm objectives.
i. STRATEGY: it is the plan of cost of action that is limited to achieve a particular purpose.
ii. CHANNEL OF DISTRIBUTION: this is the route of the pipeline through which goods and services pass from the producer to its ultimate consumers.
iii. CUSTOMERS: it is an individual or group of individual who buy, use or sell a product.
iv. FIRM: this is the producer of goods and services consumers of used by consumer or business users.
v. PRICE: this is an agreement between buyers and seller concerning what amount.
vi. MARKET: it is the actual and potential buyer of company’s products.
vii. MARKET AND HARE: this is the percentage of consumer that a company has out of the total market.
viii. PROFIT: it is a financial reward to a business firm after the cost and other expenses involved in production of goods and services.
ix. MARKET POSITION: this is the rank of a given product in the market relation to competing product.
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