Articles

Marketing Strategies and Sales Performance of a Manufacturing Company

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This study was carried out to investigate how marketing strategies, consisting of product, price, place, and promotion strategies, affected the sales performance of a food and beverage manufacturing company. A review of extant literature indicated the need for studies, in this regard, in Nigeria’s food and beverages industry.

The study adopted a survey research design. Two hundred and seventy four employees of a food and beverage manufacturing company in Lagos State were studied. Data were collected on a four-point scale ranging from strongly disagree, 1, to strongly agree, 4.  Mean and standard deviation values of statements relating to marketing strategies were obtained from descriptive statistics while inferential statistics based on multiple regression analysis produced results that determined the effects of marketing strategies on sales performance.

The results indicated statistical significance [F(4,269)df = 4783.108, p < .05)] for the effect of marketing strategies on sales performance. Product (β = .478, t = 5.588, p < .05), place (β = .454, t = 5.360, p < .05), and promotion (β = .075, t = 1.773, p > .05) strategies had positive effects on sales performance while price strategy indicated insignificant negative effect (β = -.023, t = -.626, p > .05) on sales performance. Marketing strategies explained 98.6 percent variation in sales performance.

The conclusion of the study indicated a need for the managers of the company to increase the tempo of premium-pricing promotion strategy and advertisements in the social and electronic media as well as reevaluate the pricing strategy of the company as a means of improving its effectiveness by increasing the chances of achieving the objectives of cost recovery and meeting the needs of customers.

Proposed Business Strategy to Increase Profitability in Food & Beverage Industry (Case Study: Pt Ganesha Abaditama)

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Indonesia’s retail industry is one of the most promising due to its large population and rising purchasing power from middle-class individuals and millennials with increased spending habits. Food and beverages are part of Indonesia’s retail industry. Ganesha, a manufacturer, and supplier of packaged spices has seen sales decline in the last two years. Outperforming supermarket competitors to increase sales requires a new business strategy to gain competitive advantages. This study uses the AFI framework to design a new business strategy. Porter’s Five Forces, customer, and consumer analysis are used for external business analysis. Resource-based view analysis, core competencies gap analysis, and VRIO analysis are used to analyze the internal business environment. Interviews, questionnaires, and observation provided primary data. Websites, books, articles, and journals provided secondary data. The two data sets are combined for the SWOT analysis, and the TWOS matrix is used to develop strategies. Results show that underpricing rivals and increasing product value will increase market share. Innovating the supply chain, production, and technology helps lower selling prices. Innovating existing products, packaging, and variations helps add product value. However, product innovation requires more market research to determine consumer interest.