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THE EFFECT OF ECONOMIC DEPARTMENT DEPRESSION IN THE MARKETING OF PAINT PRODUCT (A CASE STUDY OF ANDY GROUP OF COMPANY)
1.1 GENERAL BACKGROUND TO THE SUBJECT MATTER
This research works in designed to investigate and unraval the problems. Consequences and prospects of marketing paints product in Andy group of company under the present facing Nigeria industries and businessmen.
The Nigeria environment underwent a fundamental change of the class of 1986 in a view of the intensity of the level of unemployment and wide spread of inflation. The situation in the hate 2970 reflected on the fact that consumers disposable income was on the increase and individual buyers expectation were raised emphasis shifter to the creation of an increased capacity for creation of an increased capacity for production as the range of purchases become cordoned.
Today’s marketing environment is more turbulent and consumption patterns among various marketing segments especially the paint companies are more diverse static while just a negligible populace has deemed lucky enough to record marginal rise.
Marketing is not only a mean by which the present day business will survive the means bulleting of the uncontrollable variable, it is also a philosophy which have emerge as a sophisticated approach to managing business enterprise through the stimulation command of consumer demand.
Generally the different marketing mix have not be well supplied by the paints companies in the state of study much is still to be done to create the much needed for the companies for survival. This calls for a proper integration of marketing mix particular reference to promotional mix.
1.2 PROBLEMS ASSOCIATED WITH THE SUBJECT MATTER
Paints companies in Andy group of company are faced with a lot of problem as it is found in their counterparts in other firms in Nigeria. These problems have prevailed against the marketing and distribution of paint products in Enugu state and Nigeria in general.
AMONG THESE PROBLEM ARE:
- The effects of the present economic crunch on the marketing of paint product.
- The impact of government economic policies and the operation of paint products.
- The paint companies also experience the decline rate of demand under the present economic situation.
- Another problem face is grouping intense competition among firms in the company.
1.3 PROBLEM THAT THE STUDY WILL BE CONCERNED WITH
Regarding the paints enumerated above in the statement of the problem the objectives of the project will be as follows:
- To find out the inference the present economic situation has on the paint companies with particular reference to Andy group of company ltd.
- To find out whether the proper application of the marketing mix variable can help alleviate the problems faced by the paint companies under the present economic situation.
- To know how the firms under this study are adjusting to the situation
- The study aims at highlighting the various policies of the government and it effects on the paints companies.
- To make recommendation on the appropriate measure the Andy group of company should take to ensure rapid growth.
- To ascertain the profit and loss level of the firm.
- To know the consumers behaviour in the buying of the paint product.
- To know how they can capture their customers during situation of the country
- To see how the firm can be able to combat the solid economic situation of the country.
1.4 THE IMPORTANCE OF STUDYING THE AREA
The importance of this studies lies in its attempt to unreliable the problem confronting the marketing of paint products in Enugu state under the present Nigeria economy. It will seek to estimate the impact of the paint companies with a view of suggesting applicable measures in line with modern marketing concept in the states under the present economic situation with particular reference to the study area Andy group of company ltd.
The study also helps other researches and student in the business field as a project to add to their knowledge in the discipline.
More so, it aimed at exposing the damagers of marketing paint products in the state.
Finally the study helps the marketing of paint products to point their mistake in organizing and operating marketing paint products for then to achieve the optimum benefits.
1.5 DEFINITION OF IMPORTANT TERMS
a. Economic buckle: economic hard time in business environment
b. Inflation: general rise in price
c. Revamp: reconstruction or improvement
d. Unraval: separated
e. Economic depression: situation where the economy or a country is beyond standard
f. Ailing economy: troubling situation or troubling economic
g. Crunch: eager willing to act
i. Endemic: always present
j. Bulletin: written report
The World Book Encyclopedia (1992) Company Field Enterprises London
Educational Co-Operation Publisher pp.196-200.
Drucker P.F (1988) Marketing and Economic Development European Journal
of Marketing Vol. 13pp.255-262
Philip Kotler (1984) Marketing Management 11th Ed New York Prentice Hall