Impact of Effective Marketing Research on Product Performance: A Case Study of Ranona Limited

Ugowe Samson Omoruyi, Oluwadamilola Wasilat Muili, Husseini Abalaka Faruna, Quadri Ige Adeshola, Abuh Okpanachi, Kesiena Jennifer Esegine

Abstract

The increasingly competitive nature of the business environment necessitates evaluating the effectiveness of marketing research in influencing sales, cost management, and overall product success. This study examined the impact of effective marketing research on product performance using Ranona Nigeria Limited as a case study. The study aimed to determine the relationship between the marketing research variable (independent variable) and Product Performance (dependent variable). The persistent competitive nature of the business environment necessitates evaluating the influence of effective Marketing Research on sales achievement and product costs, considering its benefits. The researchers collected both primary and secondary data. They thought a total population of approximately 300 employees and selected 120 respondents, but they successfully retrieved only 100 responses. They analysed the collected data using the chi-square statistical method at a 0.05 significance level. The questionnaires were structured using a three-point scale, indicating 'Yes', 'No', and 'Undecided'.

The study shows a positive relationship between effective marketing research and product performance. The survey results indicated that companies relying on marketing research experience high product demand, increase their market share, and improve company performance. The study recommends that the organisation focus more on marketing research to enhance its competitive advantage and boost sustainable growth.

10.22178/pos.120-16


Keywords


Consumer; Effective marketing research; Businesses; Share; Demand; Competition

Full Text:

PDF


References


1. Baker, M. J. (1996). Marketing: An Introductory Text (6th ed.). Macmillan Business.

2. Kotler, P., & Armstrong, G. (2010). Principles of Marketing. Pearson Education.

3. Achumba, I. C. (1995). Sales Management: Concepts, Strategies and Cases. Al-Marks Educational Research Inc.

4. Ashamu, S. O., Akinlabi, B. H., Akingbade, W. A., & Alaka, N. S. (2010). The Impart of Relationship Marketing on the Performance of Banks in Lagos Metropolis. Journal of Management and Enterprise Development, 7(4).

5. Kracmar, J. Z. (1973). Marketing Research in the Developing Countries: A Handbook. Foreword by Jan Tinbergen. New York: Praeger.

6. Asika, N. (1991) Research Methodology in the Behavioural Sciences. Ibadan: Longman Publishers.

7. Osuala, E. C. (1982). Introduction to Research Methodology (3rd ed.). Onitsha: Africana-Fed Publishers Limited.

8. Bartels, R. (1970). Marketing Theory and Metatheory. R. D. Irwin.

9. Savitt, R. (1980). Historical Research in Marketing. Journal of Marketing, 44(4), 52. doi: 10.2307/1251230

10. Bennett, R. C., & Cooper, R. G. (1979). Beyond the Marketing Concept. Business Horizons, 22(3), 76–83. doi: 10.1016/0007-6813(79)90088-0


Article Metrics

Metrics Loading ...

Metrics powered by PLOS ALM

Refbacks

  • There are currently no refbacks.


Bookmark and Share


Copyright (c) 2025 Ugowe Samson Omoruyi, Oluwadamilola Wasilat Muili, Husseini Abalaka Faruna, Quadri Ige Adeshola, Abuh Okpanachi, Kesiena Jennifer Esegine

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.