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).
OGBUKWO, O (2020). Analysis Of Marketing Efficiency On Market Performance Of Selected Table Water Firms In Owerri . Mouau.afribary.org: Retrieved Nov 13, 2024, from https://repository.mouau.edu.ng/work/view/analysis-of-marketing-efficiency-on-market-performance-of-selected-table-water-firms-in-owerri
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 13 Nov. 2024.
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. 13 Nov. 2024. < https://repository.mouau.edu.ng/work/view/analysis-of-marketing-efficiency-on-market-performance-of-selected-table-water-firms-in-owerri >.
OGBUKWO, OGBUKWO. "Analysis Of Marketing Efficiency On Market Performance Of Selected Table Water Firms In Owerri " Mouau.afribary.org (2020). Accessed 13 Nov. 2024. https://repository.mouau.edu.ng/work/view/analysis-of-marketing-efficiency-on-market-performance-of-selected-table-water-firms-in-owerri