IMPACT OF PERSONAL SELLING AND SALES PROMOTION STRATEGY ON MARKET PERFORMANCE OF SELECTED MANUFACTURING COMPANIES IN LAGOS STATE, NIGERIA

Abstract

Understanding how personal selling and sales promotional strategy impact on the market performance after high capital investments is crucial to the contribution of the food and beverage companies to national economic growth; however, there is a dearth of information on this subject matter. The main objective of the study is to examine the effect of personal selling and sales promotion strategy on the market performance of selected manufacturing companies in Lagos State Nigeria. specifically, the study determines the effect of sales promotion on the market performance of manufacturing companies in Lagos Nigeria and determines the effect of personal selling on the market performance of these manufacturing companies in Lagos Nigeria. The econometric technique involving descriptive research, correlation coefficient and multiple regressions was used for the data analysis. A population and sample of 24 product promotional-related managers were drawn through a census sampling technique. Two research instruments – Annual Report/Financial Statement and Questionnaire were used for data collection. The result of the study indicates that there is a significant predictive impact of sales promotional strategy on the market performance and that there is a significant contribution of the promotional tool on the profit margin level of all six companies. The study, therefore, concludes that personal selling and sales promotion strategies have a positive and significant impact on the market performance of selected manufacturing companies in Lagos, Nigeria. Amongst the recommendations is that staff saddled with the implementation of personal selling and sales promotional strategy should devote time and resources to it since it largely influences the profitability of the companies. JEL: J24; L60; L20  Article visualizations: