MVP RSM POLYTECHNIC INFORMATION TECHNOLOGY

MVP’s
RAJARSHI SHAHU MAHARAJ POLYTECHNIC,
NASHIK
INFORMATION TECHNOLOGY DEPARTMENT
ACADEMIC YEAR 2020-2021
ENTERPRENURESHIP DEVELOPMENT

(22032)
MICRO-PROJECT ON

“Investment and Product selling Strategies”

GUIDED BY
Ms .S.S.Rajole
GROUP MEMBERS :

Sr. Roll No. Enrollment No. Exam Seat No. Students Name
No.
1 4 1810020106 Gite.A.Mayank
2 21 1810020121 Sonawane.KVedant
3 29 1810020129 Shinde .Sujal
4 11 1710020023 Nayan.N.Mhatre

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LIST OF FIGURE

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Abstract

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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 fromone hundred and three(103)
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 20. The results show that the independent variables (i.e Product, Promotion, Place,
Price, Packaging and After sales service) were significant joint predictors of business
performance in term of profitability,market share, return on investment,and expansion.(F(6,
97) = 14.040; R2 = 0.465; P< .05). The independent variables jointly explained 46.5% of
variance in business performance.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.

CHAPTER NO. 1

INTRODUCTION

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MVP RSM POLYTECHNIC INFORMATION TECHNOLOGY

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
toolglobally for any organization to remain in competitive market environment and was
stronger. Aremu and Lawal (2012) 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,
(2012) 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 strategytherefore,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, 2009). Owomoyelaet al,(2013) 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.Marketingstrategyis 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.

CHAPTER NO .2

MARKETING STRATEGY DIMENSIONS

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The three key-dimensions of an MNC’s worldwide marketing strategy, as previously

mentioned, are: (1) standardization-adaptation, (2) configuration-coordination, and (3)
strategic integration (Zou and Cavusgil, 2002). Standardization/Adaptation refers to the use
of basically the same (standardization) or different (adaptation) product or service,
advertising, distribution channels, and other elements of the marketing mix across countries
(e.g., Kotler, 2000; Levitt, 1983; Bharadwaj and Varadarajan, 1993; Zou and Cavusgil,
2002). MNCs following a standardization strategy believe that world markets are being
homogenized by advances in communication and transportation technology (Jain, 1989;
Levitt, 1983). Increasingly, customers in distant part of the world tend to exhibit similar
preferences and demand the same products and services (Jain, 1989; Ohmae, 1985).
Therefore, a major source of competitive advantage in worldwide markets is the ability to
produce high-quality, low-price products (Levitt, 1983). To attain a low-cost position, the
optimum worldwide marketing strategy is to sell standardized products and services using
standardized marketing programs (Porter, 1986, 1990). For the MNCs following this strategy,
major benefits of standardization include economies of scale in production and marketing
(Levitt, 1983), consistency in dealing with customers across countries (Laroche et al., 2001;
Zou, Andrus and Norvell, 1997), and the ability to exploit good idea on a worldwide scale
(Buzzell, 1968; Ohmae, 1989; Quelch and Hoff, 1986). Although the standardization
approach has numerous advantages, its unconditional adoption has some severe drawbacks
(Boddewyn, Soehl and Picard, 1986; Douglas and Wind, 1987), one of which is its cultural
insensitivity (Usunier, 2000). Consumers in different countries have widely varied cultural
backgrounds, needs and wants, spending power, product preferences and shopping patterns.
Because these differences may be hard to change, some MNCs prefer to adapt their
marketing programs to closely fit consumer desires and expectations in each country (Kotler,
2000).

CHAPTER NO.3

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CHAPTER NO.4

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CHAPTER NO.5

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CHAPTER NO. 6

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CHAPTER NO. 7

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CHAPTER NO.8

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CHAPTER NO.9

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Conclusion
Marketing is an essential instrument for increasing SME's effectiveness and investment
growth. A skilled development of marketing strategy allows optimization of company's
activities, proper defining of target groups of goods and services, adjusting distribution
system etc. Increasingly, it became obvious that the issues concerning marketing had to be
resolved if the small and medium industry sector was to grow and be an important contributor
to national economy. Government of India and various State Governments need to vigorously
promote these SMEs by creating awareness of these products by adopting newer methods of
marketing and brand promotion.

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REFERENCES

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