BACKGROUND OF THE STUDY
In the ancient times, there was no marketing because individual tended to be self sufficient, growing and producing things that they needed to satisfy their basic need. There was therefore almost no exchange of commodities and hence no desire for the market place. As time passes, however, the concept of division of labour our evolved, people began to concentrate on producing the items which they did not have. This brought about specialization in the production system. Thus people began to exchange goods with goods, a system known as trade by barter.
After this stage, comes the existence of a medium for exchange called money. The introduction of money in business transaction leads to more advanced and rapid exchange system. The introduction of money as a suitable medium of exchange also led to the evolution of modern industries which undertake high production of commodities, thereby improving the marketing sector of the production system.
Exchange involves not merely a transfer of value between the contracting parties but a positive gain in value arising from the exchange, is greater than it was before the exchange takes place. The exchange was largely saved on the production of the basic needs which usually ware cleared to marketing.
With the growth of time which resulted to industrial revolution, there was evolution of marketing, producers manufacturing their goods in large quantities in anticipation of future demands. There and then, marketing become the most important sector emphasized by all manufacturing firms.
According to Philip Kotler, in his book, principle of marketing practice, the forth edition inc.1980 page 15, defined marketing as “A set off principle for choosing target market measuring their need, developing want satisfying product and services and delivering them at a value to the company. From the definition, marketing process is aimed at getting the right goods to the company. From the definition, marketing process is aimed at the right people in the right time.
This means that the activities designed to make commodities available at either tine or places where they are more in demand at times. In this present age charges, marketing is the heart beat or beating heart of many business operation. A manufacture firm which has little or no knowledge of marketing jeopardizing the probability achieving the primary objective, which is profit maximization especially in this age where many firms and product are having a strong competition with each other.
Marketing therefore is an integral part for manufacturing organization to succeed. Marketing should be taken into consideration especially with the use of marketing strategies by a firm facing competition with each other firm.
Finally marketing is the most vital way of an organization to make profit, without which an organization cannot achieve its objectives which is maximize profit.
1.2 STATEMENT OF THE STUDY
The statement of this research study highlights problems and challenges encounter by the organization in the present of achieving the pre-determine objectives, which is profit –maximization through increase in demand volume for the product produced.
During the course of this project, it was discovered that the sales volume and the demand ratio for the company’s product drastically reduced from 95% sales volume 87% sales volume.
Additional, it was also detected that the customer base ratio also falls within the context of the selected geographically places where the research study was conducted.
While the brand image or the goodwill of the company and its recognition and public acceptance reduce all due to the impact of competition in market.