THE EFFECT OF MARKETING CONCEPT ON ORGANIZATIONAL

PROFITABILITY

(A CASE STUDY OF UNION BANK PLC OFFA, KWARA STATE)

DEDICATION

This project is dedicated to Almighty God the giver of knowledge and to my

beloved parent.

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 DECLARATION

This is to declare that I Odegbekun Ridwan kayode with Matric number

BA/HND/F18/4815 carried out this work under the supervision of Mr. Isiak
fulfillment of a award of higher National Diploma (HND) in department OF
BUSINESS Administration School of management Studies.

Federal Polytechnic Offa.

____________________ ____________________
Odegbekun Ridwan Kayode
Date. Research

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 CERTICATION

This is to certify that this project was written by ODEGBEKUN RIDWAN

KAYODE, with Matric Number BA/HND/F18/4815 and it has been read and
approved as meeting are of the requirement for the use of Higher National Diploma
in business Administration of the federal Polytechnic Offa, Kwara State.

__________________ ______________________
Mr. ISIAK DATE
SUPERVISOR

__________________ ______________________
Mrs. B.A Ajibade DATE
HEAD OF DEARTMENT

_____________________ _____________________
EXTERNAL EXAMINER DATE

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 ACKNOWLEDGEMENT

First and foremost, I am deeply grateful to Almighty God for sparing my life and
granting me good health and sufficient grace for making my academic pursuance a
big success, despite all stress and strains.

Owned a heavy debt of gratitude of heaven sent parents in person of Alhaji and
Alhaja Odegbekun who played their parental role during my programme and their
prayers by God grace has brought me this far, May God of Heaven spare your life
to enjoy the fruit of your labor ( Ameen).

My sincere gratitude and special thanks goes to my able supervisor Mr. Isiak For
his effort and individual attention in given to me all through the success of this
project. May he continue to enjoy the favor and grace of Almighty God (Ameen).

My sincere gratitude also goes to my department lectures in person of Mr

Agunbiade A.K, Dr A. I Ebeloku, Mr Afolabi O.M, Mr D. A owolabi, Mr Ahmed,
to mention a few. May God continue to bless each and everyone throughout my
academic pursuit.

I owe a lot of gratitude to my brothers and friends and friends who stood by
me throughout my academic journey, the like of Mujeeb Faoziyat
Arike,Odegbekun Lateef (Baba Mariam), Odegbekun Sharafudeen Olaitan (Baba
Oja), Tajudeen Kamilu Olayiwola (Alfa Mi), Adeleye Sherifat Omotoke, Azeez
idris (Alfa Swagger), Odegbekun Amonoh Titilope, may the lord continue to
shower his blessings upon each every one of you and I pray to see you all at the top
(Amen).

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 ABSTRACT

This project focused on the effect of marketing concept on organizational

profitability with special reference to Tuyil pharmaceutical limited,Ilorin. the
objective of this research work were to examine that people have different need
and value therefore marketers cannot address themselves to be total population to
do effectively an organization must identifying the people difference and
similarities which concede with important needs and which therefore have a
significant impact on purchasing patterns.

the research works reveals this topic, the research hers reviewed any text books on
market concept and the use of questionnaire together information from the staff to
elicit information about how to segment a market in order to anain organizational
profitability

The research work discover that market concept contribute to the

achievement of organization goals and on the basis of finding. conclusion and
recommendation was given on how market can meet the growth and needs of
organization as the needs of a consumer

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 TABLE OF CONTENTS

Pages

Title Page i
Dedication ii
Declaration iii
Certification iv
Acknowledgements v
Abstracts vi
Table of Contents vii
List of figure x
List of appendix
CHAPTER ONE: INTRODUCTION
1.1 Background to the Study
1.2 Statement Of The Problem

1.3 Research Question

1.4 Objective of the study

1.5 Statement of hypothesis

1.6 Significance of the Study
1.7 Scope of the Study
1 1.7 Definition of terms
1.9 Historical Background of Case Studies
CHAPTER TWO: LITERATURE REVIEW
2.0 Introduction
2.1 Conceptual Framework
2.1.1a Evolution Of Marketing Concept.

2.1.1b The Structure Of Marketing Concept

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2.1.1c Features of marketing concept

2.1.1d Type of marketing concept

2.1.1.e The role of marketing concept in business organization

2.1.2a Meaning of profit

2.1.2b Type of profit

2.1.2c Objectives of profit

2.1.2d Important of profit

2.1.2e Nature of profit

2.1.3 Discussion On The Relationship Between Marketing Concept And Organization

Profitability

2.2 Theoretical Framework

2.3 Empirical Review

CHAPTER THREE METHODOLOGY

3.1 Introduction

3.2 Research Design

3.3 Population of the Study

3.4 Sampling Design

3.5 Research Instrument

3.6 Validity and Reliability of Research Instrument

3.7 Data Collection Procedure

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3.8 Methods of Data Analysis

CHAPTER FOUR : DATA PRESENTATION, ANALYSIS AND INTERPRETATION.

4.1 Introduction

4.2 Participation Response Rate

4.3 Demographic characteristic of the respondents.

4.3. Demographic characteristic of the respondent

4.4 Data Presentation And Analysis Of Research Question.

4.5 Test Of Hypothesis

4.6 Discussion of findings.

CHAPTER FIVE SUMMARY, CONCLUSION AND RECOMMENDATION

5.1 Summary

5.2 Conclusion

5.3 Limitation of the study

5.4 Recommendations

5.5 Suggestion for further studies

REFERENCES

APPENDIX

QUESTIONNAIRE

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9
 CHAPTER ONE

1.1BACKGROUND TO THE STUDY

The needs of the customer of an organization are different in all respects, this
makes it difficult for firms to treat all their customers as a single homogenous
units. However, a company that is production oriented is likely to treat its entire
market as a single homogenous unit whose part are like in all respects.

Under this concept know as marketing concept, management develops on product

and one marketing program design to reach as many customers as possible. Each
potential customer has individual needs, desires and specific circumstances that
affect or influence his/her purchasing and consumption behavior.

For instance, the rental market for home and apartments varies widely
according to the size of the family or house hold, the presence of children or not,
age, income e.t.c

In this marketing concept enable a company to minimize it economic of sale

in production, physical distribution and promotion, therefore producing and
marketing one product for one market means longer runs at lower unit cost.

Marketing concept issue by firms to analyze the needs of their customers and then
make decision to satisfy those needs better than competitors.

Today , most terms have adopted the marketing concept, but this has not
always been the case. No two customers are identical , this will make it
extremely difficult to meet each customers specification, as we all know that the
primary objectives of any business concern is to make profit, the best means of
achieving its motive is to embark on integrated marketing concept is to embark on
integrated marketing concept backed up by effectively marketing managements.

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 Also, the concept enables the organization not only to achieve lasting success of
competition in wining or retaining customers loyalty, but also enables firms to
increase their profit margin.

Furthermore, marketing concept scales to reconcile two apparently conflicts

motives I.e it balances the organizations need for benefits in such a way that the
organization makes enough profit to remain in business and to continue tin satisfy
the need of customers.

Finally, it is in mutual benefit of both parties in the customer and the

organization, because the customers need would achieve their profit maximization
objectives. No wonders marketing concepts is always regarded as the life wire of
any business organization.

1.2STATEMENT OF THE PROBLEM

Despite the fact that tuyil pharmaceutical industries limited recognize the
importance of marketing concept and adopted it yet the companies sill faces with
some problem like.
I. UNSTABLE GOVERNMENT POLICY: frequent change of government
policies affect tuyil pharmaceutical industries limited, there was a particular
government policy imposed by the Nigerian government on all incorporated
companies increase their taxes according to their profit margin which tuyil
pharmaceutical industries limited Is one of them. Other example of that affected
government policy are interest rate, exchange rare, public private partnership etc.
II. HIGH PRICE OF TUYIL PHARMACEUTICAL INDUSTRIES LIMITED
PRODUCT: due to high cost of raw material since the amount of money a firm
spends on raw materials will reflect in the price of finished product. Tuyill

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 pharmaceutical industries limited faces these problems which lead to the high in
the price of products and his make some customers to switch to their competitors.
III. INABILITY OF TUYILL PHARMACEUTICAL INDUSTRIES LIMITED
TO STOP/ CURB PRODUCT PIRACY:
This is another problem face by the company. The company has being trying
to curb some unscrupulous business men who pirate it products.
1.3RESEARCH QUESTION

After the second world war, the variety of products increased and hard selling
could no longer be relied upon to generate sale with increase discretionary
customers could not afford to be selected and only those products that precisely
met their charging demand needs and these needs were not immediately obvious.

The key question become

i. What do customers want?

ii. Can the needs be developed while they still want it?
iii. How can organization keep their customers?

In response to these customer’s question, firms began to adopt the marketing

concept which involves.

i. Focusing on customers needs before developing a product

ii. Aliening all the functions of the company to focus on those needs.
iii. Realizing a profit by successfully satisfying customers need over the long terms.
1.4 OBJECTIVES OF THE STUDY
The national behind this study is to review all the factors that constitute the
inefficiency of marketing management of the tuyill pharmaceutical industries
limited and how it can be treated to bring favorable result to the company.

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 It also aimed at eradicating some misconception which some firms have
about marketing concept and how to high light the principal benefits of
marketing concept to the organization in particular and general public as a
whole.

Finally, it also aimed at bring vividly how marketing concept liaises with
other activities in the organization so as to accomplish their predetermined aims
and objectives.

1.5STATEMENT OF HYPOTHESIS

During the course o f this study the hypothesis of the following more tested and
interpreted:

HO: That defective marketing strategies and performance of the profit.

H1: that defective marketing strategy implementations would not lead to

performance of the production profit product.

H0: That the reputation of the company in Nigeria situation lead to the success of
the product profit.

H1: That the reputation of the company does not guarantee success or good
performances of product profit.

H0: That the company defectives is not for marketing concept on organizational
profitability.

1.6 SIGNIFICANCE OF THE STUDY.

The justification for this study lies in the fact that is to increase the present
knowledge on marketing concept and suggest emphasis for further research .

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 i. This study will reflect the importance that marketing concept can render
for many production oriented companies.
ii. It also highlights the organization operation through the application of
the concept in the pursuit of what yield profit for the organization to
uncover whether the company has identified a target market, its want to
satisfy and also to be able to provide area of future works.
iii. Finally, this study will serve for future references for research student
and many other people who will be interested in the topic.
1.7 SCOPE OF THE STUDY
The scope of this research work cover Tuyil pharmaceutical industries limited
which is one of the best indigenous company in Nigeria. The research intends to
study the effect of marketing concept on organization profitability with specific
references to the company (Tuyil pharmaceutical industries limited Ilorin,
kwara state.)
The entire premise on which the study is based is that organizational
profitability would depend on the application of marketing concept. It also
covers how marketing concept come into existence, the structure of marketing
concept, types of profit, importance of profit to firms and how profit and
marketing concept are interrelated.
1.7.1 DEFINITION OF TERMS
1. MARKET: This refers to the place points or any means of communication
where they forms further ownership of goods and services from the seller to
the buyer can be affected.
2. MARKETING: This is the performance of business activities that directs
the flow of goods and services from the producer to the customer.
3. TARGETING MARKETING: it refers to the customers whose a seller the
organization aimed their product at.
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 4. PROMOTION STRATEGY: promotion is a key element in marketing
strategy. It is the act of persuading customer to buy the company’s product.
5. ORGANIZATION: this is a stable system of individuals who work together
to achieve goods through hierarchy of ranks and divisions of labour.
6. PRODUCTS: these are company offerings taken to the market to satisfy
customers wants and needs at a profit.
7. RESEARCH: This is process of arriving at dependable solution to problems
through planned and systematic collections analysis and interpretation of
data.
8. PROFIT: this is the return on investment to entrepreneur profit revenue
total cost.
9. MARKET SEGMENTATION: It could be defined as the process of
dividing the total heterogeneous in all significant aspects.
10.MARKETING RESEARCH: this is the systematic gathering recording and
analyzing of data about marketing problems to facilitate decision making.
Useful information for making decision making is generally.
11.BUSINESS: this is the act of buying and selling and distribution of goods
and services with aims of profit maximization.
12.SAMPLE POPULATION: this is the part of the population under study
chosen or selected by some process for the purpose of statistical analysis.

1.8 HISTORICAL BACKGROUND OF TUYIL PHARMACEUTICAL

INDUSTRIES LIMITED ILORIN, KWARA STATE.

Tuyil pharmaceutical industries limited, a privately owned business enterprises,

was established on the 1st of may,1996 at No 22 Stadium road Ilorin, kwara

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state Nigeria. It is a pharmaceutical company that manufactures both human
and veterinary products. Due to its rapid expansion in production activities, the
company moved to its permanents site at No 22 New Yidi Road Ilorin, kwara
state Nigeria on the 2 nd of June, 2005 and was commissioned by the kwara
state governor Dr. Bukola Saraki and former Director General Of NAFDAC,
(late) Prof Dora Akinyils as a special quest. We are a leading pharmaceutical
and health care company in Nigeria that specialize in the manufacturing,
importation, sales, marketing and distribution of pharmaceutical and health care
products in Nigeria. we have over eighty unique brands consisting of over the
counter (OTCS) and ethical pharmaceutical products manufactured in a world
class facility. Our certified by NAFDAC.

Tuyil pharmaceutical industries limited is committed to the manufacture,

distribution and delivered of quality health care products and services that
constantly meet the needs of our esteemed customers, we are also committed to
the proper implementation, maintenance and continual improvement of the
effective quality management system standard and it requirement to improve
the well-being of the nation.

Tuyil pharmaceutical industries limited is an indigenous pharmaceutical

manufacturing company based in Ilorin kwara state Nigeria. We are into
tabulating, syrup, capsulation, Dry powder, Cream Herbal and veterinary
products as well as production of table water. We are a trusted name in
pharmaceuticals and our watch word is quality.

The chief of executive offer of Tuyil pharmaceutical company is senior

Apostle Oluwole Awotuyi.

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 CHAPTER TWO

LITERATURE REVIEW

2.1 INTRODUCTION

This chapter is concerned with theoretical and conceptual frame, it also

contains the effect of marketing concept on organizational profitability.

Charles (2018) reviewed marketing concept as a philosophy which sees the

customer or clients as the central focus of all the activating of an organization
because, no organization can survive without the corinive patronage of it
consumer. This philosophy regards a genuine concern for consumer welfare
( consumer satisfaction) as the most dependence parts to the relation of an
organization short and long term goals.

2.1 CONCEPTUAL FRAMEWORK

Marketing concept is a concept adopted by business organization to identify

the needs and wants of their customer before producing that will satisfy such needs
or wants of their customer before producing that be will satisfy such needs or
wants.

Marketing concept, according to TAIWO (2018) is a management

orientation that holds the key task of the organization to determines the needs,
want and values of a target market and to adopt the organization to delivering the
desired satisfaction more effectively the efficiently than its competition it is also
said as a philosophy and a system and a system of marketing or organizational
structure, this hold a belief sales and satisfactory return investment can only be
achieve by indentifying anticipating and satisfying customers needs and wants.

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2.1.1a EVOUTION OF MARKETING CONCEPT.

The philosophy of the marketing concept evolved as the last of the 3 major
area of marketing which are product era, sales era and marketing era.

1) PRODUCT ERA

The product philosophy was the dominant market philosophy prior to the
industrial resolution and continual in the (2017), the product its philosophy told
that better than anyone else or any organization knows its product better than
anyone else or any organization and also that the company knows what will works
in designing and producing it product and what will not work for example, the
company may decide to emphasize the low cost or high quality of their products,
this confidence in their ability is a radical concepts but a lead to the customers
being over looked.

In this period goods were made by hands production were very slow and few
goods could be produce. Through, there was demand for their goods and the slow
production could not fill the demand in many cases. The importance for
management of this shortage was that very little marketing was needed.

When mass production created the individual revolution, the volume of the
output was greater increased yet the increase production of goods did not
eliminate the shortage from the pre-industrial era. By this time, customer still did
not need to be consulted for the organization to sell their products, but buyers
always wanted to buy only those product that offers them more satisfaction and
affordable,

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ii) SALES ERA

The selling era has the philosophy in this era holds that an organization can
sell any production it produces with the use of marketing techniques, such as
advertisement and personal selling.

The reason for the emergence of the selling philosophy was the ever rising
number of goods available after the individual revolution. Organization because
progressively most efficient in production, which increase the volume of goods
with the increased supply competition also entered production. These event
eventually lead to the end of production shortages and creation of surpluses.

This serving philosophy assuming that a well training and motivated sales
force can sell any product. However more companies began to realize that it is
easily to sell a product that the customer does not fact, the selling, era gave way to
the marketing concept and philosophy .3.

MARKETING ERA :

The marketing era philosophy states that the organization people began to realize
that on should strive to satisfy its customers want and needs while meeting the
organization goals. Is also by meeting customers need by the early (2020) some
business people began to realize of product did not quarantine, that customer
would buy them.

Them business and many other found that they must first determine what
consumer need to fit what is to be produced, As more organization have realized
the importance of knowing customer needs U.S business have entered into
marketing Era, one of the customer orientation has resulted in an increase concern

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satisfaction has resulted in an increase concern about ethics and social
responsibility and an expansion into global market

Many firm expansions into we are in total quality Era in which improved product
and services are produced and customer orientation are a major focus on a global
basis.

2.1.1b THE STRUCTURE OF MARKETING CONCEPT

The structure of marketing department varies from one industry to another

depending on the size of the business. The production range the type of marketing
its services, it stage of development and the skill.

The difference lies in the degree of specialization with department, in single

product firm, it is more usual to combine sales and marketing department. The
head of the department maybe called marketing coordinator. Follow then by the
manager (Marketing) of better skill, the vice president marketing.

In such case, the sale force under a sale manager is a separate aim of
marketing department on the other hand in large multi product industries or firms
particularly; in the place of marketing department in an organization. It is helpful
to note the scope of the work normally performed by a standard marketing
department in discharging its duties. Therefore, marketing department is to nervous
center in which other department revolves. Marketing or sales department is
judged to be the most important department in any organization by many people.

According to a saying “sales are the life blood of a business” certainly

without sales companies often find it difficult to depressed business conditions, the
difficulty that many business have in getting order immediately shows the

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importance of the sales and marketing department. Most business concern have a
sales or marketing department.

In some firms, even the commercial banks in developed nations have three
(3) business departments; for example, an investment banker has financial
institutions.

2.1.1c FEATURES OF MARKETING CONCEPT

Some of the most important features of marketing concept that must put into
considerations are as follows:

I. Customer Focus: the marketing concept of an organization is customer

centered. It makes an attempt to study the customer needs, and goods are
produce accordingly. The organization existence depends on human needs.
II. Customer Satisfaction: a customer expects some services or b enefits from
the product from which payment is made. If this benefit is more than the
amount paid, then the customer is satisfied. Customer satisfaction helps to
retain in the market.
III. Objective Oriented: all marketing activities are objective-oriented.
Different objective are fixed at different levels, but the main objective is to
earn profits from business along with the satisfaction of human wants.
IV. Marketing is both Art and Science: art refers to specific skills that are
required in marketing activities of any types of business. Science refres to a
systematic body of knowledge, based on fact of principle. The concept of
marketing includes a bunch of social science such as economics, sociology,
psychology and law.

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 V. Marketing environment: environment policy, marketing conditions and
environmental factors such as political, technological, demographic and
international, influence marketing activities.

2.1.1d TYPES OF MARKETING CONCEPT

There are several key marketing concept also commonly known as

marketing approaches of tactices, that can go a long way in making an effective
marketing plan achievable for a organizational mode. Not all this marketing
concepts for today’s business will work in all situations and for all industries, but
at least 1-2 of them will! The concept helps to give the business direction. This five
(5) concepts are as follows:

i) PRODUCTION CONCEPT
With this approach, the most important thing, first and foremost is the
idea that customers want a product that is easy to get and that makes their
lives better some how. the production concept focuses on the business
ability to boost out put while lowering costs. Companies that decide to
move the production of their product overseas is a perfect example of this
concept economizing the cost to make the product which will, in turn,
maximize profits
ii) PRODUCT CONCEPT
Business that embrace the product concept of marketing concept are
focusing on the quality of the products and services that they sell. They
focus knows that customers are looking for innovative product and services
that they can rely on and trust.
iii) SELLING CONCEPTS

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 This selling concepts hinges on the idea that low prices, sales, discounts and
deals help bring in customer and sells product. Many times, Marketing tactics of this
sort come from the need of the business to sell a product rather than the needs of the
customers to purchase that products are. Will this meth

iv) MARKETING CONCEPT

Three key points that drive the customer want our product, can we keep
them coming back, and what will it take to keep them satisfied? This approach is
one in which companies believe that consumers shop based on their needs and the
value of the things they buy.

vi) SOCIETAL CONCEPT.

Businesses that use this concept for marketing their goods and services hold
to the idea that consumers want to do business with a company or a brand that
choose what to do business with because of things such as are they a green
company, do they support charity groups, do they pay a fair wage to their
employee, and so forth

2.1.1e THE ROLE OF MARKETING CONCEPTIN BUSINESS

ORGANIZATION

The roles of marketing concept in a business concern be see from highly

related perspectives.

1. As a management philosophy
2. As a business function.

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1. As a management philosophy: Levitt (2018) urges business people to think
not just term of their problem at home their plant of office, but of consumer
needs out there and in the market place.

He join business practioners to regard their goods and services as a means of

satisfying customers needs not just articulates of customers needs not just
articulates of exchange, Thus it leads to organization consciousness which sees
the customer as the focus of attention of all those involved in the working or
organization

For example, the accounting staff the administration staff and production staff
must hold the same level of recognition with the marketing staff in respect of
their.

Their also emphasized the need to strategies planning in management test, this
implies the needs for managers to anticipate change in environment forces. with
a view of adapting profitability to them (2018) assets that the marketing concept
alerts us with the prescription that keep activity require constantly studying and
responding to what people want and value judiciously adjusting to the choices
competitors created for them.

2. As a business function, the marketing concept performs the following

functions in business organizations
i. It serve as the most useful basis for making over all business policy in
the firms.
ii. it leads to the development of range of marketing activities such as
promotions, after sales service marketing workshop and product
development marketing and product development.
iii. It leads to the integration of all functional units in an organization

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 iv. it leads to overall effectiveness of the marketing circuit highly
relevant for a successful business predictive. The complexity of
modern economic and dynamic consumer behavior warrant the proper
understanding and adoption of the concept of the soft manager.
v. It also helps the organization to direct their services to specific
consumer needs
vi. they will be able to build up a good brand loyalty and satisfied
customer. They will in addition receive recommendation from the
society and government
vii. It will help firms to appreciate their roles and mission in the nations
business environment.
viii. It will makes them to deliver more satisfaction to the customers,
holders, the policy holder and the society.
ix. Finally, it will help to grow, development and survive the long run in
the face of been competitor from other finally

2.1.2a MEANING OF PROFIT

Profit may be viewed in different ways according to different school of

thought the accountant and the economic point of view.

In accountant view, profit is different but when the cost price and selling
price of goods here, if the selling prices are greater than the cost price, there is
profit, but if the cost is greater than the selling price (SP)- cost price (CP) to the
economic, profit represent the difference between the firms revenue and it total
cost. It arises when firms sales (REVENUE) exceed its total cost of production.
profit= revenue. total cost profit generally refers o difference between money

25
made and money spent over a given period of time whatever angle profit is
looked , it is an important indicator of how a company can stay in business using
cost and pricing standard

2.1.2b TYPES OF PROFIT

These are the types of profit

1. Operating Profit

2. Gross Profit

3 Net Profit

OPERATING PROFIT: This is the profit earned firm from it normal core
business operations, This value does not include any profit earned from its
investment (such as from firms in which the company has partial interest) and the
effects of the internet and taxes. This type of profit which is also knows as earning
before interest and tax (EDIT) is calculated thus operating profits= operating
revenue minus operating expenses (OP=OR-OE) for instance, suppose ABC
printing related business #10 million from its 40% stake in XYZ cooperating and
#5.3 million from interest carried in its money markets and banks account. In
addition, the company spends #10 millions in production related cost the
company’s operating profit is #40, million . This is calculated as the #50 millions
in operating revenue millions minus the #10 millions in produce costs. the other
#10 millions and #3.5 millions in earning are not included in operating income
because they are investment income.

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NET PROFIT: This is sales revenue minus cost if goods sold and all other
expenses including interest etc. This profit is usually after tax. It is the type of
profit in which business can decide on what to do with, It can be decide to invest
on other profitable material in vogue like shares etc,Net profit= Gross profit+
Other incomes expenses. (NP=GP+I_G)

GROSS PROFIT: This is the net sales minus the cost of goods and services sold.
it is a company revenge minus its cost of goods sold. Gross profit is a company’s
resident profit after selling a product or services and deducting the cost associated
with it production and sales minus all cost directly related to those sales minus cost
include manufacturing expense, raw materials, labor, selling, marketing and other
expenses

2.1.2d IMPORTANCE OF PROFIT

The main aim of any business is to make profit any organization without
making profit is like an craft without a pilot.

For the purpose of this study, we shall examine this following as the benefits of an
organization derived from profit. These are

1) Business Continuity and expansion through the ploughing back technique.

2) It is means of measuring the performance. it can be used to set standard, in
order to measure the performance of a given business visa- versa other firms
within the industry
3) It is means of control, this when the stand and has been set, performance can
be measured comparatively with standard. If there is any deviation control
has to come in bord of directors use profit to managing directors.

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 4) Profit Serves as an incentive to motivate people to work effectively,
adequate to discharge their duties effectively and thus increase productivity
and thus increase productivity. the welfare of all employees of a business
rest on the profitability of the firms operational, High wages and benefits
and a high stand of (ling can be maintained only if a firm earns adequate
profit.
5) Profit Serves as a reward and probation to entrepreneur. The, of any
investment is to get reasonable return on his investment therefore profit
serves as reward to the enterer for the risk he/she has under taken. its equally
serves as motivation for would be entrepreneurs to invest there by promoting
entrepreneur
6) Profit enable business to perform their social responsibilities both
to government and society, there include payment of tax provision social
amenities giving of scholarship
7) Profit gives share holders adequate on their investment. if the business
makes profit share and new investors will be attracted into business, This
indirectly leads to business growth where by over heading of the business
plants and machines are done and diversification takes places

2.1.2 NATURE OF PROFIT

The nature of profit has even been the most perplexed and troubled
problem in the opinion of the economists in early days, the classical
economists regarded profit as acerving to the capitalist who supplied capital
and owned business, profit are determine after making all necessary payment
from the total income of the business, It is the demand and supply of
organization, Regarding nature of profit, Taussing has said that it is a “mixed

28
 and vexed income” water looked upon profit as the reward of the organization
with a superior ability than other”
According to clare, knight and shumpeter it is an income which arises out of
changes uncertainly and friction inherent in a dynamic world , and which the
belated operation of competitive forces tends to eliminate”
In this connection the Marxian economist Veblen and Hobson are of
this opinion that “profit is an unearned income and attribute it to the existence
of institutional monopolies establishment by a few capitalist, monopoly profit
arise because a monopolist is able to restrict output and keep the price of his
product much above the average cost of production”

2.1.3 DISCUSSION ON THE RELATIONSHIP BETWEEN

MARKETING CONCEPT AND ORGANIZATION
PROFITABILITY

Marketing concept and organizational profitability are interrelated. In fact,

they are like a semitone i.e. they go with one another. Marketing concept holds that
firms should knows the needs and wants of them customer before producing such
product or service to meet their customer is specifications.

By this marketing concept enable firms to retain their customer by

producing their wants which deals to continues patronage and therefore brings
profit to their firm.
Also when organization makes profit it will enable it to embarks on
integrated marketing concept i.e. it will be able to produce enough customers
specification at demand without disappointment due to lack of resource to
produce the goods

29
 This continues that way, firm will not loose it customer by marketing
their demand and also customer’s would be able to get what they want on a
stipulated time. By this profit at the same time customers want are meet at
demand.

2.2 THEORETICAL FRAMEWORK

This study anchors on that always smart to frequently resist the key
marketing concept that can impact your brand or organization. The most
influential marketing theories are not limited to marketing; instead they transcend
many different fields and are especially applicable to write is, we need to be a
ways of how our audience twinks and what motivates them to take action. Here
are the marketing concept theories on organizational profitability to even to more
effective.

i) MASION HIERARCHY OF NEEDS

First theorized by Abraham Maslow in 1943, this five stage model can be
divided into our most important needs. including: physiological, safety, love
esteem and self actualization. Maslow believed that we must first satisfy lower
level “basic” needs before progressing on to meet higher level “growth” needs
once needs have been reasonably satisfied, we may then be able to reach the
highest level of self actualization. This applies to marketing and writing, because
it our jobs created needs for our customers and provide fulfillment of that need.
The more convincingly we do this, the more likely customers are act upon this
need.

30
II) CONSISTENCY THEORY

This theory states that when our inner systems made up of beliefs, attitude
and values all support one another, we find comfort and contentment if thing
were to fall out of alignment , this results in the discomfort of cognitive
dissonance and our desire to regain balance. The most valuable part of this theory
for marketers and writer comes from the point that we also have a very string
need to believe we are being consistent with social norm and exclusion,
Understanding this concept provinces writer with the power to persuade
customers by appealing to their desire to “ Fit in”

III) NETWORK THEORY

This theory is very broad in that i refers to the study of relationships. A

large focus of every successful business is relationship building. This theory
describes the pattern and motives of people’s interaction which lead to the
relationship they create. As a writer, Understanding human behaviors is a huge
advantage for better behaviors is a huge advantage for better connecting with
them through content we are better able to motivate and incentive certain actions
by creating this “network” feeling

IV) GAME THEORY

There are many more complex ways to summarize this theory, but simply
put it state that a successful business must be able to put itself into the “shoe” of
its rivals and reason from their perspective. While we may never knows with full
certainty what our competition is thinking or planning to do next, the strongest
business sees think strategically and make educated guesses. for writer, This is an

31
 important theory because we must be able to anticipate our competition’s next
move and put it into words before they do.

V) MARKETING ORIENTATION THEORY

This theory maintains that to be successful, business should determines

customers needs and wants, and satisfy them more effectively than their
competitors. The seems pretty obvious, right However, so easily we forget this
very basic idea that to offer the best service, we must be the best at identifying
the must effective way to meet these needs.

Over all these five marketing concept theories on organization profitability

provide valuable insight into the behavior of our target audience and our
competition. As writers, we should continue to grow our understanding of these
theories to increase the effectiveness of our messages. When quality writing is
produces results that truly stand out

2.3 EMPIRICAL REVIEW

Philip Kotler 8th edition review effect of marketing concept on

organizational profitability embracing numerous type of studies and tapping
diverse. information. These studies can be classified into four

III) STUDIES OF INFLUENCE OF UNCONTROLLABLE:

These studies on factors such as the level of consumer credit, business

Information from their regular business readings. The federal office of statistics
and the central bank of Nigeria produce several publications that produce
information on the uncontrollable.

32
IV) STUDIES OF THE COUPETITIVE SITUATION

Studies of the competitive situation are specially designed to delve into

competitors marketing practice and policies They provide information on how
competitors action affect a company marketing system. rather than focusing on the
competitive position of a company’s product, studies of the competitive situation
should appraise the market effect of a competitions price change, product
improvement, measurement, appraising the effect of a competitors choose in
advertising approach.

This empirical review in how organization as it broadens management

knowledge of how competitors action affect their organization marketing situation.
They can then formulate their own strategy that will be effective in placing them in
a convenient position in the market.

i. marketing management studies

ii. studies of influence of controllable
iii. studies of influences of uncontrollable
iv. studies of the competitive situation.

1. MARKETING MANAGEMENT STUDIES

These studies aim towards obtaining quantities data on potential demand and
review the market concept on organization profitability to how much of a
particular product can be sold to individual market segment over a future period
assuming the application of appropriate marketing methods. The market
measurement studies relate to market or sales potentials or both.

Market potential is the maximum possible sales opportunities open to all sales of a
goods and services during a stated future period for particulars market segment.
33
Sale potential is the maximum possible sales opportunity open to a specified
company selling a goods and services during a stated future period for particular
market segment market measurement studies are useful in planning a company’s
overall marketing strategy and when evaluating a proposed a new product

II) STUDIES OF INFLUENCES OF CONTROLLABLE

Management uses studies of controllable variables to appraise the

effectiveness of current product, distribution promotion and pricing policies and
practices. Although manipulation of controllable can be done without such formal
studies it is however more effective with the added insight gained fro, special
studies.

34
 CHAPTER THREE

METHODOLOGY

3.1 Introduction

This chapter describes the method employed in the collection and

analysis of data solve to hypothetical problem already stated. This chapter
forms the frame work of the entire research process and involves adopting
the most suitable form of investigation, the nature of the scientific research
process. The research designs sources of data and all other information
relevant to this research study.

3.2 Research Design

Research design is the act to identifying and explaining the technique

and procedure of acquiring information to solve a specific problem. It is the
basic which guide the data collection and analysis phase of the project. It can
also be define as the frame work which specified the type of information to
be collected, the source of data and the collection procedures. This research
design specified the frame work for controlling the data collection method
and it’s the main function; it is to ensure that the requires data are collected
at a very accurate and economical rate.

However, for the purpose of this study the research used a survey
method to get information for the study. This is a method in which
representative’s sample of the population under this study is studied and the
entire result is generalized.

In a nutshell a sample size of fifteen (15) is studied out of the total

population of twenty-five (25) of Tuyil Pharmaceutical industries limited by

35
 distributing questionnaires to them and the entire result is generalized on
others.

3.3 Population of the Study

Where Constitute the population in this research work is the

management and staff of Tuyil Pharmaceutical industries limited Ilorin. The
company’s population is twenty-five (25) i.e. both management staff, junior
and senior staff and the marketing executives of the organization out which a
sample of fifteen (15) was drawn. Therefore, we can refer population of the
study has a list of all the demands in the population form which the sample
is to be drawn.

3.4 Sampling Design

A sample is the portion of part of the population under study chosen

or selected by some process for the purpose of statistical survey or analysis

It is also sub-set or sub-groups of the population; it comprises some

member selected from the population.

In this study, the researcher employed simple random sampling

technique; this is a method of sampling in which each possible sample
combination has equal chance of occurrence and each item in the population
has an equal chance of being included in the sample.

Sampling is a method where by element with a defined populations

are selected, such selected element usually from a sample and constitutes the
units where information is sought in respect to the research problem. In this
research process, the researchers choose a sample size of fifteen (15) out of

36
 the twenty-five (25) population of Tuyil Pharmaceutical industries limited
Ilorin

3.5 Research Instrument

Research instrument is a material or device used by a researcher to

carry out a research such as; Questionnaire, interview, telephone, computer,
camera, traffic counter, mechanical devices, cassette recorder e. t. c. to
collect information on a particular problem in order to arrive at a conclusion.

In this study questionnaire was used to collect data from the sampled
population which is fifteen (15)

A questionnaire is a list of questions prepared by an investigator for

the purpose of statistical analysis. It is an instrument use to collect
information on a certain issue by an investigator or a researcher. However a
reputable firm in the manufacturing sector (Tuyil pharmaceutical industries
limited) has been chosen for this study; this is because the firm is a
reflection to the topic of the study.

Also to reveal the effect of marketing concept on organizational

profitability; the samples of the population included in these studies are
selected by the use of simple random sampling.

3.6 Validity and Reliability of Research Instrument

According to Osuola (2018) “Reliability refers to the consistency of

Measurement”.

According to Hardy (2018) “Validity is the characteristics used to

describe research which quality what it claim to measure that is to say,

37
 reliability and validity are the characteristics of research Methodology which
allows researcher to be repeated by same and even different research but
always with same result.

Reliability is also defined as anything that maybe trusted and

dependable it is the stability dependability and practicability of a measuring
instrument.

Nevertheless, the best technique is the practical approach used in this

research work to establish the reliability of the questionnaire; this is done by
asking the respondents to complete the questionnaire with the primary
choice for constituency, reliability and standardization of the design of the
questionnaire.

3.7 Data Collection Procedure

Research proposal should indicate what approaches and methods to be

uses in collections of data. Here we have primary and secondary data; it is
use in obtaining information for this study.

I. Primary Data

Primary data is the data collected by the investigator him/her self for
the purpose of statistical survey. There are usually obtained by personal
interview, telephones interview and questionnaire.

However for the purpose of this study intend to use personal interview
and distribution of questionnaires to both senior and junior staff of Tuyil
Pharmaceutical industries limited Ilorin.

II Secondary Data

38
 The information in secondary data is gather as a result various
publications and realized texts on personnel and management theory and
practice in Nigeria; in which the NIM (Nigeria Institute of Management)
was among the publishers.

More so, previous works of some authors were collected reviewed as

a point of the data collected. Through the Examination of these data
materials, the researcher was able to obtain and deduct the required relevant
information for the study.

Therefore, both primary and secondary data collection methods were

used in research process.

3.8 Methods of Data Analysis

The researcher used the sample percentage as statistical techniques to

analysis and interprets and that data collected. However the reason for the use of
this kind of techniques was a result of the type of questionnaire checklist that
called for complex questions.

39
 CHAPTER FOUR
DATA PRESENTATION, ANALYSIS AND INTERPRETATION.
4.1 INTRODUCTION

This chapter cover the presentation, analysis and interpretation of the view
collected.

The data collected are presented in tabular form and analyzed using
statistical method.

4.2 PARTICIPATION RESPONSE RATE

Total number of 30 questionnaire was administered to the respondent out of

which 15 were properly completed and returned. The analysis is thus based on the
response from 15 staff of Tuyil pharmaceutical limited, Ilorin kwara state. The
response rate is summarized in the table below.

Table 4.2 Response rate

Response Frequency Percentage%

Returned 7 75
Non returned 8 25
Total 15 100
Source: Field Survey,2020

Discussion of Results.

Table 4.2 above reveal that out of the target 15 respondents, 7 respondent
which wquivalent to 75% duly filled and returned the questionnaire administered
while 8 respondents which is equivalent to 25% does not return the questionnaire

40
4.3 Demographic characteristic of the respondents.
The demographic information was very important because it show
distribution of questionnaire across the organization as concerned the result are
presented below

TABLE 4.3.1 DEMOGRAPHIC CHARACTERISTIC OF THE

RESPONDENT

GENDER OF RESPONDENTS

Alternative Respondents Percentage%

Male 9 60%
Female 6 40%
Total 15 100%
sources: Field survey, 2020

From the table 4.3.1 above, it can be seen that 9 respondents representing 60% are
male while 6 respondents which represent 40% are female. This implies that the
male respondents are more than female respondents

TABLE 4.3.2 DISTRIBUTION BY AGE

Alternative Respondents Percentage%

Below 20 Years - -
21-30 Years 12 80
31-40 Years 2 13.3
41-50 Years 1 6.7
51 Years above - -
Total 15 100
sources: Field survey, 2020

41
The above table 4.3.2 analysis shows that 12 respondent which represent 80% were
between of age 21-30 years, 2 respondent resenting 13.3% were within the age of
31-40 years and 1 respondent 6.7% was in the age of 41-50 years while there was
no respondent from respondent below 21 years and 51 years and above

.TABLE 4.3.3 DISTRIBUTION BY MARITAL STATUS

Alternative Respondents Percentage%

Married 12 80
Single 3 20
Divorce - -
Total 15 100
sources: Field survey, 2020

If can be: infer from the table 4.2.3 above analysis that 12 respondent which
representing 80% are married: while 3 respondents representing 20% are single
and no respondent divorce, This implies that the number of married respondent are
more than those of single respondent.

TABLE 4.3.4 DISTRIBUTION BYACADEMIC QUALIFIED

Alternative Respondents Percentage%

SSCE 2 13.3
ND/NCE 7 46.7
HND/BSC 6 40
MA/MSC/MBA - -
Total 15 100
sources: Field survey, 2020

42
HAs it is seen in the above table 4.3.4 it shown that 2 respondents which 46.8%
ND/NCE holder, 6 respondent which represent 40% are HND/BSC holder while
there was no respondent for MA/MSC/MBA holder

4.4 DATA PRESENTATION AND ANALYSIS OF RESEARCH

QUESTION.

For the purpose of this study, respondent refers to the people that completed
the questionnaire. The questionnaire were processed normally and data were
reported information of tables which shows Reponses in percentage (%). the
following are table the data collected were and analysis.

TABLE 4.4.1 MARKETING CONCEPT INCREASE THE STANDARD

ESTABLISHING OF THE ORGANIZATION.

Alternative Respondents Percentage%

Strongly agreed 2 13.3
Agreed 1 6.7
undecided - -
disagreed 4 26.7
strongly disagreed 8 53.4
Total 15 100
sources: Field survey, 2020

The table 4.4.1 above analysis shows that 2 respondent which represent
13.3% strongly agreed, 1 respondents represent 6.7 agreed,4 respondents represent
26.7% disagreed and while 8 respondents represent 53.3% strongly disagreed that
marketing concept increase the standard establishment of this organization. This
means that number of strongly disagreed is more.

43
TABLE 4.4.2: ADOPTION OF MARKETING CONCEPT MAKES
ORGANIZATION TASK LESS DIFFFCULT

Alternative Respondents Percentage%

Strongly agreed 10 66.7
Agreed 1 13.4
undecided - -
disagreed 2 13.3
strongly disagreed 1 6.7
Total 15 100
sources: Field survey, 2020

It can be seen from the above table 4.4.2 that majority of the respondents falls
within the strongly agreed option with 66.7% 2 respondents representing 13.3
agreed, 2 respondent representing 67% strongly disagreed. This state that the
adoption of marketing concept makes organization task less difficult is strongly
agreed.

TABLE 4.4.3: MARKETING CONCEPT ENHANCE INDUSTRIAL PEACE

AND HARMONY

Alternative Respondents Percentage%

Strongly agreed 2 13.3
Agreed 2 13.3
undecided 1 6.7
disagreed 1 6.7
strongly disagreed 9 60
Total 15 100
sources: Field survey, 2020

44
The table 4.4.3 above analysis reveals that 2 respondent represent 13.3% strongly
agreed that marketing concept enhance industrial peace ad harmony, 2 respondent
representing 13.3% agreed as well, and 1 respondent represent 6.7% undecided
also 1 respondent represent 6.7% disagreed and while a respondent representing
60% strongly disagreed the statement.

TABLE 4.4.4: PUTTING CUSTOMER INTO CONSIDERATION BEFORE

PREDUCING GOODS INCREASE THE PROFITABILITY OF THE
ORGANIZATION

Alternative Respondents Percentage%

Strongly agreed 9 60
Agreed 3 20
undecided 1 -
disagreed 2 13.3
strongly disagreed 1 6.7
Total 15 100
sources: Field survey, 2020

It can be infer from the table 4.3.4 above analysis that 9 respondents which
represents 0% strongly agreed, that putting customer into consideration before
producing goods. Increase the profitability of the organization, while 3 respondent
represent 20% agreed, 2 respondent representing 13.3% disagreed and while only 1
respondent represent 6.7% strongly disagreed the statement.

45
TABLE 4.4.5: MARKETING CONCEPT BRINGS SENSE OF BELONGING
IN THE ESTABLISHMENT OF THE ORGANIZATION PROFITABILITY

Alternative Respondents Percentage%

Strongly agreed 8 53.3
Agreed 3 20
undecided 1 6.7
disagreed 2 13.3
strongly disagreed 1 6.7
Total 15 100
sources: Field survey, 2020

The analysis table 4.4.5 above revels that 8 respondent representing 53.3%
strongly agreed that marketing concept brings sense of belonging in the
establishment of the organization profitability, 3 respondent represent 20% agreed
on the statement as well, 1 respondent represent 6.7% undecided and 2 respondent
represent 13.3% disagreed while only 1 respondent represent 6.7% strongly
disagreed.

TABLE 4.4.6: YOUR ORGANIZATION PROFIT RELY ON CUSTOMER

FOR MARKET TARGET

Alternative Respondents Percentage%

Strongly agreed 12 80
Agreed 2 13.3
undecided - -
disagreed - -

46
strongly disagreed 1 6.7
Total 15 100
sources: Field survey, 2020

Has seen in the table 4.4. 6 above majority of the respondent falls within strongly
agreed representing 80% which only 1 respondent represent 6.7% disagreed. This
implies that the organization relies on their customer for market target.

TABLE 4.4.7: MARKETING EXECUTIVES NEED TO CONDUCT

MARKETING RESEARCH BEFORE CUSTOMER .

Alternative Respondents Percentage%

Strongly agreed 10 66.7
Agreed 2 13.3
undecided - -
disagreed 1 6.7
strongly disagreed 2 13.3
Total 15 100
sources: Field survey, 2020

This table 4.3.7 above shows that 10 respondents representing 60.7% strongly
agreed, 2 respondent s representing 13.3% agreed and only 1 respondent represent
6.7% disagreed and while 2 respondent representing 13.3% strongly disagreed.

This shows that marketing executives needs to conduct marketing research

before customers need and want are identified.

4.5 TEST OF HYPOTHESIS

Pearson moment product correlations co-efficient was conducted with SPSS

to know if the null hypothesis should be rejected or not
47
HYPOTHESIS I

Ho: There is a significant relationship between product strategy and the level of
profit of Tuyil pharmaceutical limited, Ilorin.

Hi: There is no significant relationship between product strategy and the level of
profit of Tuyil pharmaceutical Limited, Ilorin

TABLE :TABLE OF CORRELATION BETWEEN PRODUCT STRATEGY

AND THE LEVEL OF PROFIT OF TUYIL PHARMACUETICAL
LIMITED.

Alternative product strategy The level of profit of

Tuyil pharmaceutical
limited
product Pearson correlation 1 293
strategy 000
Sig (l- tailed) 200 213
N
The level of Pearson
correlation 293 1

profit of 000 000

Sig (2 tailed
Tuyil pharmace
213
utical limited
N
sources: Field survey, 2020

According to above calculation it is observed that amount of correlation coefficient

between product strategy and that level of profit of Tuyil Pharmaceutical limited is
48
equal to 29.3 percent and considering that a significant level is greater than 5%.
Then we say that there is no positive relationship between product strategy and the
level of profit of Tuyil Pharmaceutical limited

TABLE II: Regression analysis test of product strategy and the level of profit of
tuyil pharmaceutical limited model summary

MODEL Unstandardized coefficient Standardized coefficient + Sig

B std error Beta
(CONSTANT) 3.433 .187 18.342

Production .060 .057 .072 000

strategy 1.054 .293

Dependent Variable: Level of profit from the coefficient table above, the p-value
was obtained to be 0.293 which is greater than 0.05(5%). Therefore the null
hypothesis “ there is no significant relationship between product strategy and the
level of profit of Tuyil Pharmaceutical Limited will be accepted and can conclude
that there is no significant relationship between product strategy and the level of
profit in Tuyil Pharmaceutical limited, Ilorin.

In summary, based on the foregoing majority do not support hypothesis one.

There is no significant between product strategy and the level of product. Product
strategy had a negative correlation with the level of profit in Tuyil pharmaceutical
limited, Ilorin and support, the concept that the company will make more
strategy .Hypothesis one which state, There is no significant relationship between
product strategy and level of profit in Tuyil pharmaceutical limited, Ilorin is
accepted.

49
HYPOTHESES II

Ho” there is a significant between promotional strategy and the sales volume of
tuyil pharmaceutical limited.

H2: There is no significant relationship between promotional strategy and the sales
volume of Tuyil pharmaceutical limited.

Table iii: Table of correlation between promotional strategy and sale volume of
Tuyil pharmaceutical limited

CORRELATION

Promotion Strategy The sales volume of Tuyil

pharmacuetical limited
Promotion pearson 1 685
correlati 200 000
Strategy Sig (2 213
tailed)
N
The sales volume 685 1
pearson 200
Of tuyil pharmaceutical 000
correlation 213

Limited sig
( 2 tailed)
N

50
Correlation is significant at the 0.01 level (2-tailed)

According to above calculation is observed that amount of correlation co-

efficient between promotional strategy and the sales volume of tuyil
pharmaceutical limited is equal to 68.5 percent and considering that a significant
level is bigger than 5%. Then we can significant that there is no positive
relationship promotional strategy and sales volume of tuyil pharmaceutical limited;

Table iv: Regression Analysis test of promotion strategy and the volume of tuyil
pharmaceutical limited.

Model summary

MODEL Unstandardized Standardized + Sig

coefficient coefficient
B std error Beta
(CONSTANT) 3.559 .216 16.464 000

Promotional
.027 .067 .028 .407 .685
strategy

Dependent variable: Sale volume.

From the coefficient table above, the p- value was obtained to be t0,685 which is
greater than 0.05(5%). Therefore the null hypothesis there is no significant
relationship between promotion strategy and sales volume of “tuyil pharmaceutical
limited” will be accepted and can conclude that there is no significant relationship
between promotional strategy and sales volume in Tuyil pharmaceutical limited,
Ilorin

51
In summary, based on the foregoing, majority do not support hypotheses two.
There is no significant relationship between promotional strategy had a negative
correlation with sales volume in Tuyil Pharmaceutical Limited.Ilorin and support
the concept that the company will make more sales without the utilization of
promotion strategy, hypotheses two which states that “ the is no significant
relationship between promotion strategy and sales volume in Tuyil pharmaceutical
limited, Ilorin. Is accepted.

4.6 DISCUSSION OF FINDINGS.

Hypotheses one was tested using Pearson product moment correlation to

examine the degree at which product strategy improves the level of profit of Tuyil
pharmaceutical limited in kwara state. With a computed result (r= 0.683.
f=332.632: t=14.223: p(0.05). The null hypothesis was accepted and alternative
hypothesis was rejected resulting in the conclusion that there is no significant
relationship between product in Tuyil Pharmaceutical limited,Ilorin.

Hypothesis two was tested with Pearson product moment correlation in

order to determine the extent at which promotional strategy influence the sales
volume of Tuyil Pharmaceutical limited in Kwara State. With a computer result (r-
0.716:p<0.05), the null hypothesis was accepted and alternative was rejected.

52
 CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATION

5.1 SUMMARY

From the findings gathered on this research, though questionnaire designed

from the marketing executives, management staff, and sales supervisors and the
area sale manager, the researcher was able to establish that management of the
organization is marketing oriented. It was also discovered from the research work
that is not possible for a manager to do all the work in the organization hence,
determine the needs and wants of the customers. In a nut shell, marketing concept
makes the organization less difficult.

The organization profitability depends on marketing concept, since through

marketing concept, subordinate are allowed to make meaningful contribution to
decision making and hence marketing concept increase profitability and standard
of the organization. Also through marketing customer’s morale is enhanced
through industrial peace and harmony in an organization.

More so, customers have sense of belonging when forecasting for market
target in the establishment and marketing concept helps manager to plan ahead in
an organization for the future of the establishment.

Finally, through marketing concept manager can have enough time to

forecast for the future of the organization.

5.2 CONCLUSION

53
 The conclusion of this research work shall be based on the summary of
findings that is, what the researcher was able to find out during the course of the
research work, through the related literature review and the information collected
through the administered questionnaire.

The following conclusion was drawn by the researcher.

The researcher discovered that marketing concept has a lot of impact on

organizational profitability and that; a company can market its products effectively
by adopting this concept. This is a fact because it is only when a company knows
who are their consumers/customers, what are their needs and wants, and who are it
target market this can be able to market its product effectively.

Also it was concluded that participants of consumer in the forecasting helps

the organization in their profitability and marketing concept burden down the
difficulties on manager in order to forecast for the future of the organization.

5.3 LIMITATION OF THE STUDY

In carrying out a research of this magnitude obviously a lot of problems

must be encountered.

The limitations rose from this study are

1. ATTITUDE OF RESPONDENT: most of the respondent contacted for

information has a lot of commitments while those who did are biased in
answering the questions. This makes the research work to be difficult
2. FINANCIAL CONSTRAINTS: financial constraints on the part of the
researcher to cover up the scope of the study are another limitation of the
study. These include the cost of printing, gathering information and
collection of relevant information needed.

54
 3. TIME CONSTRAITS: there was delay in answering the question on time
as expected from the marketing personnel despite a lot of pervasion,
sometime, the research has to wait for the marketing and other relevant
personnel to finished attending to their customers before he is attended to.
All constitutes constants of limitations in carrying out this project

5.4 RECOMMENDATIONS

Today’s marketing is chiefly concerned with customers. Consumption is the

sole and purpose of production. Therefore, clear understanding of the market is
needed before any art for production activities could commence.

Since the survival of any producer depend on better understanding of its

market satisfying the consumer’s needs and wants through consistent devotion.

At this junction, the researcher would like to recommend the following to

Tuyil Pharmaceutical limited and all companies. Management should adopt
marketing concept to enable manager to plan ahead of organization also employee
should be given a sense of belonging by allowing them to participate in decision
making process of the company. This will make them to be more committed to
their jobs.

More so, continuous research should be conducted by the marketing

department of the company in order to know the consumer needs in terms of taste
and satisfaction through marketing research. This will enable the organization to
introduce new product that would meet customer desire.

Also forecasting should be encouraged in order to minimize scrap. Low

quality of product failure of target market e. t. c. in the organization in order to

55
enhance profitability by management of the organization. The company should
also try to re-lunch any of their products they realize has become obsolete so as to
make more sales, hence increase in profit.

Finally, we all know that in our country today survival for the fittest has
becomes the watch word in almost all the industries.

Many industries are faced with a usual prevailing economic situation like the
shortage of materials, stiff competition within and between industries. Therefore
Tuyil Pharmaceutical limited has to focus their attention on how possible they
continue implement the concept of marketing concept in achieving organizational
profitability which is the aim of establishing it.

If all the above recommendation is taking into consideration, most of the

obstacles faced by the company could become a forgotten event.

5.5 SUGGESTION FOR FURTHER STUDIES

I. Tuyil Pharmaceutical limited Ilorin senior staff, and top most staff was very
difficult to obtain appointment on my research work.
II. Tuyil Pharmaceutical limited Ilorin staff some of the respondent were afraid
to fill the questionnaire administered to them forty questionnaire were
administered and only 15 responded duly field and returned.
III. It was not possible to obtain strategic information which could only be
disclosed by the top management and staff of Tuyil Pharmaceutical limited,
Ilorin.
IV. Tuyil Pharmaceutical limited lower and middle staff majority respondents to
the questionnaire and interview.

56
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Azeez O.I (2012): Data collection class lecture delivered in business course:
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Azeez O.I (2012): introduction to business statistics and its application 2nd edition
Rodah dynamic printers limited, Ilorin.

Bambe R Ilorin J.O and Raji S.A (2010): introduction to business I, Deeroot
printers, Offa.

Gundiff S.G (1980): fundamental of modern marketing 3rd edition Hallinc

Eaglewood News, New dersey.

Kotter Philip (1988): marketing management analysis, planning and control

international 4th edition macmillian

Mohammed A.S and Salaudeen H.N (2009): practice of management in Nigeria 1 st

edition Kola Salau press, offa.

Ogunjimi S.O (2010): Business Research methodology Belthom publisher, Ilorin

Kwara State.

Taiwo A.O (2014): Basic sales in management for managers Revised edition Kola
Salau press Offa, Kwara State.

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 APPENDIX
Department of Business Administration,
Federal Polytechnic,
P. M. B 420,
Offa,
Kwara State.
11th November, 2020.
Tuyil Pharmaceutical Limited,
Ilorin, P. M. B 240,
Kwara State.
Dear Respondent,
RESEARCH QUESTIONNAIRE ON THE EFFECT OF MARKETING
CONCEPT ON ORGANIZATIONAL PROFITABILITY
The researcher is a student of the above named institution carrying out a
research on the effect of marketing concept on organizational profitability. This is
in line with partial fulfillment of the requirement for the award of higher National
Diploma (HND) in Business Administration.
I, the researcher would be highly grateful if you could spare some of your
valuable time to assist me in answering the following questions as honesty as
possible regarding your company.
I assure you that any information provided will behold in strict confidence
and used solely for the purpose of my research.
Your maximum co-operation would be highly appreciated.
Yours Faithfully,
Odegbekun Ridwan .K.
BA/HND/F18/4815

58
 QUESTIONNAIRE

N.B select appropriate from the alternative hacking.

SECTION A

1. SEX
a. MALE [ ]
b. FEMALE [ ]

2. AGE OF RESPONDENT [ ]
a. Less than 30 years [ ]
b. 31-40 years [ ]
c. 41-50 years [ ]
d. 51 years and above [ ]

3. Marital status
a. Single [ ]
b. Married [ ]
c. Divorced [ ]

4. Academic qualification
a. SSCE [ ]
b. ND/NCE [ ]
c. HND/BSC [ ]
d. MA/MSC/MBA [ ]

59
5. Position in Organization
a. Management Staff [ ]
b. Senior Staff [ ]
c. Junior Staff [ ]
6. Year of service
a. 1-5 years [ ]
b. 6-10 years [ ]
c. 11 years and above [ ]

SECTION B
7. Marketing concept increased the standard establishment of the organization
a. Strongly Agreed [ ]
b. Agreed [ ]
c. Undecided [ ]
d. Disagreed [ ]
e. Strongly Disagreed [ ]

8. Marketing executive’s needs to conduct marketing research before customer

needs and wants are identified
a. Strongly Agreed [ ]
b. Agreed [ ]
c. Undecided [ ]
d. Disagreed [ ]
e. Strongly Disagree [ ]
9. Marketing concept enhance industrial peace and harmony.
a. Strongly Agreed [ ]
b. Agreed [ ]
60
 c. Undecided [ ]
d. Disagreed [ ]
e. Strongly Disagree [ ]
10.Putting customers into consideration before producing good increase the
profitability of your organization
a. Strongly Agreed [ ]
b. Agreed [ ]
c. Undecided [ ]
d. Disagreed [ ]
e. Strongly Disagree [ ]
11.Marketing concept or organization brings services of belongings in the
establishment
a. Strongly Agreed [ ]
b. Agreed [ ]
c. Undecided [ ]
d. Disagreed [ ]
e. Strongly Disagree [ ]
12.Your organization profit relies on customer for market target
a. Strongly Agreed [ ]
b. Agreed [ ]
c. Undecided [ ]
d. Disagreed [ ]
e. Strongly Disagree [ ]
13.Marketing executives needs to conduct marketing research before customer
needs and wants are identified
a. Strongly Agreed [ ]
b. Agreed [ ]
c. Undecided [ ]

61
d. Disagreed [ ]
e. Strongly Disagree [ ]

62