Analysis Of Marketing Efficiency On Market Performance Of Selected Table Water Firms In Owerri

OGBUKWO | 46 pages (8360 words) | Projects
Marketing | Co Authors: ONYEDIKACHI DANIEL 12/MOUAU/23071

Today, access to improved water supply is a major challenge in the world. Although significant progress has been recorded in terms of number but practically more than 780 million people globally lack access to improved drinking water sources (UNWDWP, 2012). In Nigeria, the current water supply service coverage is 58 per cent, which covers only about 87 million people and implies that more than 73 million Nigerians lack access to potable water (Beamon, 1999). This a development which has encouraged alternative sources of improved water supply and distribution; and has opened up huge market opportunities for many businesses to package water in readily available sachets and bottles, competing side by side (Beamon, 1999). Today, drinking of packaged water has become essentially part of our culture. According to NAFDAC (2014), the daily consumption expenditure on water in Nigeria has hit 10 billion from 8 billion Naria in 2013. 

The increase in demand for table water in recent times was bolstered by the rising health awareness among consumers, and the inadequate performance of public utilities providers which has led to lack of public supply of safe drinking water in the cities, and rural areas. Rising disposable incomes, new launches (particularly cheaper domestic brands), promotional activities and increase in formal education have also impacted positively on the demand for packaged water (NADFAC, 2014). Marketing efficiency is considered to be a pre-requisite for prompt delivery of goods. Prompt delivery of goods at a reasonable price is possible only when the market work in a competitive way; because absence of competition entrench inefficiency. It is expected that marketing efficiency will address the issue of efficiency and enhance overall welfare of consumers, since there is no room for a firm which is inefficient and ineffective in marketing (Roll, 2008). The degree of efficiency is often a criterion by which marketing performance are measured. The objective of being efficient and effective is to get loyal customer at low marketing cost and consequently increase profit. According to Adirika (1997), marketing efficiency is necessary because consumers derive the greatest possible satisfaction at the least possible cost. To the consumer, marketing efficiency may mean getting his commodities at the lowest price while from the producer’s perspective; it may imply selling at the highest price. For this study, marketing efficiency therefore refers to the movement of goods and services from the producers to consumers at the lowest price consistent with the provision of the service consumer’s desire/demand (Cox, 1996).  The efficiency of the marketing system has a link with customer welfare and by implication overall economic development of a country. Efficiency is an important factor of productivity growth as well as stability of production especially in developing economies (Ogbuji, 2008).

Marketing efficiency and performance are often regarded as synonymous. They are hinged on the overall economic performance of a firm based on its marketing activities that result in cost and can affect its long run profitability (Kiser, 1976). 

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APA

OGBUKWO, O (2020). Analysis Of Marketing Efficiency On Market Performance Of Selected Table Water Firms In Owerri . Mouau.afribary.org: Retrieved Nov 30, 2024, from https://repository.mouau.edu.ng/work/view/analysis-of-marketing-efficiency-on-market-performance-of-selected-table-water-firms-in-owerri

MLA 8th

OGBUKWO, OGBUKWO. "Analysis Of Marketing Efficiency On Market Performance Of Selected Table Water Firms In Owerri " Mouau.afribary.org. Mouau.afribary.org, 03 Jun. 2020, https://repository.mouau.edu.ng/work/view/analysis-of-marketing-efficiency-on-market-performance-of-selected-table-water-firms-in-owerri. Accessed 30 Nov. 2024.

MLA7

OGBUKWO, OGBUKWO. "Analysis Of Marketing Efficiency On Market Performance Of Selected Table Water Firms In Owerri ". Mouau.afribary.org, Mouau.afribary.org, 03 Jun. 2020. Web. 30 Nov. 2024. < https://repository.mouau.edu.ng/work/view/analysis-of-marketing-efficiency-on-market-performance-of-selected-table-water-firms-in-owerri >.

Chicago

OGBUKWO, OGBUKWO. "Analysis Of Marketing Efficiency On Market Performance Of Selected Table Water Firms In Owerri " Mouau.afribary.org (2020). Accessed 30 Nov. 2024. https://repository.mouau.edu.ng/work/view/analysis-of-marketing-efficiency-on-market-performance-of-selected-table-water-firms-in-owerri

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