THE EFFECTIVENESS OF PROMOTIONAL MIX ELEMENTS ON PROFITABILITY IN THE TELECOMMUNICATION INDUSTRY (A STUDY OF GLOBACOM NIGERIA LIMITED, ASABA)

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CHAPTER ONE

INTRODUCTION

1.1    BACKGROUND OF THE STUDY

Very often, individuals and organizations conceive promotion, narrowly as involving the process of persuading, buyers and casoling them to buy goods and services they showcase. Marketing develops as a society and it economy develops. The need for marketing them arises and grows as a society moves from an agrarian economy to a free marketing economy characterized by industrialization and competition. Since products do not sell themselves, marketing then, has a basic challenges of presenting products in the market place as superior to their available substitutes. The downturn in the economy is pushing firms to begin to emphasize customers satisfying process rather than just merely goods and services producing process as it has been observed that consumers are becoming more rationale in their purchase decision, given the state of their dwindling disposal income. Firms and producers on their part are further responding by developing superior strategy(s) aimed at pushing their products to the ultimate consumers. Here’s where contemporary marketing calls for more than developing a good product  or services, pricing  it adequately and making it available to target consumers (A chumba 2000) Firms should communicate  and promote their goods and services with  a view to winning the  potential customers choice decision, as it is , the customer’s decision  that determines whether  the organization  in the prosper.  Udel (1997)  identifies marketing promotion as the most important facet of marketing strategy leading to success promotional mix are now accepted  by top management as effective tools  for  firm   to survive because product  managers are under great pressure to in crease their current market share, product awareness and perception, consumer loyalty, organization sales volume and profit.

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