This study was carried out to determine the prospects of Promotion Mix as a tool for increased revenue in the Wooden Furniture Industry of Ibadan. This was done by investigating the perception of wooden furniture companies’ owners towards Promotion Mix and also the level of adoption they put the Mix into.
Three Local Government Areas – Ibadan North, Ibadan North-west and Ibadan South-west LGAs – were selected for this study. These LGAs were selected due to the heavy presence of manufacturing and other companies there, including furniture companies. The companies were further categorized into Micro and Small scale enterprises. In total, 69 firms were purposively selected and questionnaire administered to their Manager or owner.
Data collected were analyzed using Descriptive statistics and Chi-square.
At the end of the study, it was found out that majority of the respondents hold a positive perception towards Promotion mix. 87% of the respondents agreed that using Promotion mix will influence customers to buying a product, boost market sales and thus, increase revenue. Also, 59% of the surveyed firms use at least one form of Promotion Mix, with Ibadan Southwest LGA having the highest number. The level of adoption of promotion mix within each LGA compared to the other LGAs was subjected to Chi-square test and it revealed no significant differences among the LGAs.
However, majority of the individual elements of Promotion mix are not adopted and thus, there is need to expose owners and managers of wooden furniture companies on the importance of Promotion mix. Also, they should be given insights to the various elements of Promotion mix, and the best combination to use at any given specific time.
Habib, K (2019). PROMOTION MIX AS A TOOL FOR INCREASED REVENUE IN THE WOODEN FURNITURE INDUSTRY. Afribary.com: Retrieved March 28, 2020, from https://afribary.com/works/promotion-mix-as-a-tool-for-increased-revenue-in-the-wooden-furniture-industry
Kayode Abdulyekeen, Habib. "PROMOTION MIX AS A TOOL FOR INCREASED REVENUE IN THE WOODEN FURNITURE INDUSTRY" Afribary.com. Afribary.com, 27 Oct. 2019, https://afribary.com/works/promotion-mix-as-a-tool-for-increased-revenue-in-the-wooden-furniture-industry . Accessed 28 Mar. 2020.
Kayode Abdulyekeen, Habib. "PROMOTION MIX AS A TOOL FOR INCREASED REVENUE IN THE WOODEN FURNITURE INDUSTRY". Afribary.com, Afribary.com, 27 Oct. 2019. Web. 28 Mar. 2020. < https://afribary.com/works/promotion-mix-as-a-tool-for-increased-revenue-in-the-wooden-furniture-industry >.
Kayode Abdulyekeen, Habib. "PROMOTION MIX AS A TOOL FOR INCREASED REVENUE IN THE WOODEN FURNITURE INDUSTRY" Afribary.com (2019). Accessed March 28, 2020. https://afribary.com/works/promotion-mix-as-a-tool-for-increased-revenue-in-the-wooden-furniture-industry