Complete Material Cost #3,000
The main objective of this study is to examine the impact of personal selling on new product marketing. A case study of PZ Nigeria Plc. To achieve the objectives of the study, the researcher took extensive review of related literature, and utilized the non- probability sampling technique, to determine the sample size, out of which a sample size of 60 respondents from PZ Nigeria Plc. Out of the copies questionnaire distribution, 50 were retrieved. Sample percentage and frequency distribution tables were used to analyze the data. The research was guided by four (4) research question. In an attempt to answer these questions, four (4) hypothesis was formulated and tested, using the Pearson product correlation coefficient statistical tool. It was found that pre-sale preparation, prospecting/qualifying strategies influence customer relationships of PZ Nigeria. Plc new product PZ Nig. Plc personal selling plan focus on better approach and sales decision that help retain customers. After sales activities employ by PZ Nig. Plc have enhance the sales volume and success of their new products. Based on the findings, the researcher recommended that; there should be a program whereby PZ Nigeria Plc marketing staffs attend seminars and workshops about marketing communications so that they can be able to sell their products well and complete well in the divers market. These will enable them to expand their coverage and realize increase in sales of the products. Pz Nigeria plc should use personal selling to promote their new product since it has a greater influence on sales.
1.1 BACKGROUND OF THE STUDY
Personal selling which is one of the functions of marketing is very Important in the business and marketing life of an organization, according to Weitz and Castleberry, (2004) personal selling is defined as the face to face communication of information from a seller to a prospective buyer, it involves the interaction of both the seller and the buyer for the purposes of facilitating exchange for the mutual satisfaction of both parties (Arijit, 2013). Also opined that Personal selling is one of the functions of marketing that is Important in the business and marketing of new products in an organization.
It has long been recognized as the oldest and probably the most important component of the promotional mix, its age can be ascertained by the fact that word of mouth and recommendation by others long in existence as a method of winning somebody over to some idea. According to (Kotler, 2013), personal selling is a social situation involving two persons in a communication exchange. Success depends on how well both parties achieve a common understanding enabling mutual goal fulfillment through social interaction.
On the other hand, a product according to Kotler and Armstrong (2010) is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a need or want”. They further added that product is more than just tangible objects, but also include service (intangible). Similarly, Kotler and Keller (2009) defined product as “anything that can be offered to a market to satisfy a want or need” they pointed out that it includes physical goods, services, experiences, events, places, persons, properties, organizations, information and ideas. Additionally, Lancaster and Massingham (2011) sees product as “anything or item that can be considered as a separate product entity and that may be distinguished in some way from other products that the company produces, irrespective of its relationship to those other products. “From the above it can be seen that the target of marketing is to satisfy human need and want at a profit”.
However, as the needs and wants of customer changes, marketers must ensure that they go into innovation of new products in other to meet with the changes in needs and wants of their customers.
According to history PZ Nigeria PLC which is my case study, is a manufacturing/marketing firm. It has its beginning in sterra-leone when Mr. G.B Zochonis and Mr. G.H Paterson met in Freetown in the 1870s, there they formed a trading company by name Paterson Zochonis and company limited now PZ Nigeria PLC. It was incorporated as a private company under English law in February 1884 with a registered office in liver pool England. In 1886 the office was transferred from liver pool to Manchester which has remained the headquarters of the group ever since. Due to expansion the companies now undertake the importation and exportation of finished products.
The company opened its first branch in Nigeria at lagos in 1899. In 1903 another branch was established at calabar and 1912 Nigeria branch induce Ibadan, Oshogbo, Ilorin, Ph and kano.
1.2 STATEMENT OF PROBLEM
The efforts personal selling has made in enhancing the success of new products marketing in Pz Nigeria plc have received commendations from several researchers and academician. But inspite of these impacts, the marketing of new product in Pz Nigeria Plc still faced with some challenges which range from consumer based problem to developer based problem, and market based problem. And if the problems are not checked or solved it will result to a sudden decline of the product, it is against this background that this study deem it necessary in filling this gaps by discussing the impact of personal selling on new product marketing using PZ Nigeria Plc as a case study.
1.3 OBJECTIVES OF THE STUDY
The aims of this study, is to examine the impact of personal selling on new product marketing. A case study of PZ Nigeria Plc. Other specific objectives are:
- To evaluate how pre-sale preparation, prospecting/ qualifying influence customer relationship of PZ Nigeria plc
- To find out how approach and sale decision persuade customer retention PZ Nigeria plc.
- To know how after sales activities increase sales volume of PZ Nigeria plc.
- To identify the challenges facing personal selling strategies employed by PZ Nig plc in the marketing of their new products.
- To make recommendations as possible ways of improving on the personal selling strategy and the challenges identified.
1.4 RESEARCH QUESTION
- Does pre-sale preparation, prospecting/ qualifying influence customer relationship of PZ?
- How do approach and sale decision persuade customer retention?
- Do after sales activities increase sales volume.
- What are the challenges facing personal selling strategies employed by PZ Nig plc in the marketing of their new products?
- Are there recommendations made, as possible ways of improving on the personal selling strategy and the challenges identified?
1.5 FORMLUATION OF HYPOTHESIS
Ho1: Pre-sale preparation, prospecting/ qualifying do not influence customer relationship of PZ
Ho2: Approach and sale decision do not persuade customer retention
Ho3: After sales activities do not increase sales volume.
Ho4: There are no challenges facing personal selling strategies employed by PZ Nig. Plc in the marketing of their new products
1.6 SIGNIFICANCE OF THE SUDY
No research work is a mere pre-exercise, therefore the study will be of great benefit to the following:-
First and foremost, this study will be of benefit to the company (PZ Nigeria plc) and markers of Pz Nig plc as it will indicate the effects and defects of using personal selling as a promotional strategy.
Again, the study will be of significance to the consumer of Pz Nig plc as it reveals positive ways of building and cementing salesperson –customer relationship which will invariably increase customer satisfaction.
Besides, both the researcher and the readers will gain an indepth understanding and knowledge from the information contained in the study which will stir up further studies.
1.7 SCOPE OF THE STUDY
The scope of the study defines the limits of the investigation to be carried out. In view of this, the study will critically investigate the impact of personal selling in the marketing of beverage particularly the effect or the customer patronage sales volume and profitability.
1.8 LIMITATION OF THE STUDY
Limitation is significant constraint encountered in the course of carrying out this study which are time, finance and accessibility to data.
TIME: Time which is the barometer used in general assessment of human activities is one of the major hindrance. The time given is so short to carry out an indepth research on this study.
FINANCE: Lack of enough finance due to economic meltdown in the country is also a factor that hinders the successful research of this study.
Another major problems encountered was access to information concerning the area of study.
1.8 DEFINITION OF TERMS
Personal selling: A face to face sales representation by a person called the seller to another called the buyer.
Strategy: It is a work plan aimed at achieving a defined objectives or selling target.
Brand: This is a name or symbol that differentiates a product from another.
Product: Anything that is of value or useful and can be offered for sale.