MARKETING RESEARCH AS A TOOL FOR PROFITABILITY IN THE SERVICE INDUSTRY
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 5000
ABSTRACT
Marketing research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company. This study focused on marketing research as a tool for profitability in the service industry, a case study of AIICO insurance company operation in Enugu metropolis. In order to carry out the study, the following objectives amongst others were states; To ascertain the proportion of marketing budget allocated to the marketing research activities in a given period in AIICO Insurance Company. The sample size was determined using Topman’s formula for the policy holders of AIICO Insurance Company while a census was conducted for management and relevant staff of AIICO insurance company in Enugu.
The researcher used chi-square (x2) statistical method to test the hypotheses which were earlier formulated for the study. The data collected were presented on statistical tables using frequencies and percentages for analysis. In view of the study findings, recommendations on how to apply marketing research for the success of the company were offered. In conclusion, the ultimate aim of using marketing research is geared towards customers’ satisfaction at a profit to the company, so AIICO Insurance Company is advised to continue putting marketing research into effective use.
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