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EVALUATION OF PROFIT IMPACT OF MARKETING STRATEGIES ON FIRM’S SALES PERFORMANCE: A STUDY OF BRANDED SOFT BEVERAGE DRINKS IN LAGOS
Abstract: This paper is an evaluation of profit impact of marketing strategies on firm’s sales performance using branded soft beverage drinks in Lagos. Specific emphasis is laid on products of Nigeria Bottling Company (NBC, Plc). The objectives were to determine the profit impact of product strategy on organisations sale volume, to assess the profit impact of pricing strategy on organisations sales market share, to determine the profit impact of distribution strategy on consumers purchase decision. Survey research design was adopted for this study. A primary source of data was used. Product moment correlations coefficient analysis was used to test the hypotheses with the aid of statistical package for social sciences (SPSS v. 20). The study found a significant relationship between marketing strategies adoption and sales profit in Nigeria Bottling Company Plc; there is a strong, positive correlation between product strategy of NBC Plc and profit impact on the organisations sales which was statistically significant. The finding of this study led to the conclusion that marketing strategies adopted by Nigeria Bottling Company has profit impact on the organiation’s sales performance; product strategy of Nigeria Bottling Company has significant profit impact of on organisations sale volume. The study recommend that Nigerian Bottling Company need not to restrict their strategy areas to Marketing mix variables but must ascertain what kinds of strategies (e.g. quality, pricing, vertical integration, innovation, advertising) amongst other that best impact on the sales performance and profit of the organisation.
Keywords: Distribution, Product, Price, Profit Impact, Performance, Sales Volume, Strategy.