CHAPTER ONE
INTRODUCTION
All organizations, be it large, medium or small, commercial, government, charities, educational and a host of other not-for-profit organizations in Nigeria and beyond need to communicate. The needed communication may be in order to get materials and services to undertake their business activities, or to work synergistically with others to make sure their distribution goods and services are successful. Marketing communications provides a major activity so that all interested parties can understand the intentions of others and also appreciate the worth of the goods and services rendered.
Communication is the process of passing information, thoughtsin a meaningful way among individuals or organizations. The need and duties of communication within channel of marketing is a vital issue from any point of view. Communication in marketing channel can perform as the process by which weighty information is conveyed. Despite the fact that the Marketing literature acknowledges that communication plays a healthy and strong role in channel functioning, it provides no integrated theory for channel communication. Communication has been connected conceptually to both power and climate issues and structural issues in the channel, yet previous or past research on channel communication is less sufficient.Communication is a major tool used to create network, spread and circulate ideas and promote the ones products or services. Effective communicationis done through a well-known channel that sends information in a simplified way and exactly. Marketing communications accommodates all components in a brand‘s marketing mix that encourage exchanges by building shared meanings with the stakeholders of brand.
Small and medium businesses use different and numerous tools and strategies to promote their company, product or services for their business survival, and one of the toolsare integrated marketing communication. Tools can be brochures, telemarketing, websites etc while strategies can be values added to products of approach to customers. The chief goal of the marketing communication are to provide needed information to target audience, boost the sales and for business survival.
Integrated marketing communication (IMC) is seen to be an attempt to integrate and combine its promotional mix, which comprisesadvertising, sales promotion, public relations, personal selling, and event and direct marketing. It is a term that came into existence since late 20th century regarding application of consistent brand messaging across numerous marketing channels.IMC strategyevolved mainly to solve the need for businesses to offer clients more than just standard advertising and to help businesses to survive. IMC suggests that marketers focus at the customer first, focusing on the customer includes focusing on his or her preferences, buying patterns, media exposure, and other factors and then customer is exposed to the products that fits its need through series of communication methods which the customer find more interesting, attractive and credible.Integration has become a major concept in marketing because technological advances have changed how business stakeholders interact.
Every marketing strategy has its own importance and outstanding function which can be assessedfrom the resultsand impact of that strategy. Previous research works has pointed that poor management skill, such as human resources, financial and general management, as well as marketing, leads to the poor implementation and performance of SMEs, with regards to profitability. Integrated Marketing communications activities play a vital role in the growth and survival of businesses.
IMC is a core strategic channel in many organizations because sales and profit can be increased while saving the time, money and stress by applying IMC.IMC has positive effect on communications, creativity, innovation and cause consistency in communications. Real contribution of integrated promotional mix can makea strategic tool for business. IMC provides new dynamic model which makes the running of business smooth and effective.It makes easy, 24/7availability and access to goods and services and makes message more productive and also reduces product related risks in the mind of consumers.
Integrated Marketing Communication is a major strategic concept for small and medium scale business survival, and also a major strategy that is as evolutionary and discursive in Nigeria. Thus, a strong need is mandatorily needed here to explore the concept and phenomena of IMC directly in the real world of communication. With the resent change and development in communication practices and technologies, integration in marketing techniques cannot be declined for Nigerian businesses, companies, organizations to survive in this business world emerging globally. Flow of communication is easy with no barrier and our ability to adapt to these changes has made it a very interesting, catchy and promising place for the global market.
1.2. Statement of the general problem
The poor survival or growth of small businesses in Nigeria has been a concern to all and sundry; this is because the success of small businesses is the success of the economy of the country since the small business enterprises constitute a cardinal pillar for every economy and thus a for an effective growth of the economy, adequate attention has to be given to small businesses in Nigeria. The poor economic development of Nigeria is a direct consequence of the neglect of small businesses thus leading to their poor survival, growth and development. This poor survival of small enterprises has led to an unprecedented increase in unemployed or underemployed youths thus exerting more pressure on the existing jobs in Nigeria which is not good for any developing economy like ours.
1.3. Aims and objectives of the study
The major aim of the study is to examine the integrated marketing communication as a survival strategy for business survival in Nigeria. Other objectives of the study include;
1.4. Research Questions
1.5. Research Hypotheses
H0: Integrated marketing communication is not an effective strategy for business survival in Nigeria
H1: Integrated marketing communication is an effective strategy for business survival in Nigeria
H0: There is no significant relationship between small business survival and the economy of Nigeria
H1: There is a significant relationship between small business survival and the economy of Nigeria
H0: There is no significant relationship between marketing and small business survival in Nigeria
H1: There is no significant relationship between marketing and small business survival in Nigeria
1.6. Significance of the study
The study would be of immense importance to small business owners, government at all levels and captains of industries as it would reveal the impact integrated marketing communication has on business survival in Nigeria. The study would also benefit students, researchers and scholars who are interested in developing further research on this subject matter.
1.7. Scope and limitation of the study
The study is restricted to integrated marketing communication as a strategy for business survival with small business in Lagos serving as the case study.
Limitation of study
Financial constraints: Financial constraints tend to impede the students ability to get all the materials needed for the study but with the materials available the researcher was able to get meaningful information concerning the research topic above
Time constraints: The researcher being a student will be involved with departmental activities like seminar presentation and attendance to class, but the researcher was able to meet up with the time allocated for the completion of the research work.
1.8. Methodology
This study will follow the constructionist ontological perspective because the aim is to explore the importance of IMC by interviewing senior managers or executives within SMEs. As such, it will depend upon perceptions of social actors within the stated specific context, i.e. upon how SME executives in Lagos perceive the phenomenon of IMC. This research will take a phenomenological standpoint as its epistemological approach, adopting an interpretivist approach. Interpretivism is concerned with the question of how individuals make sense of the world around them (Bryman& Bell, 2003). This research seeks to explore the emergence, growth and importance of IMC within SMEs in Lagos and this can only be done by examining the perceptions that senior SME executives or managers have about their own marketing communication activities. Considering this research problem, an inductive approach will be chosen for the first phase of the study in an attempt order to draw generalisable inferences from exploratory research conducted with the said executives or their equivalents in SMEs in Lagos.
It is anticipated that a deductive second phase of research design across the entire Icelandic SME sector may then be adopted to test potential hypotheses, based on the research findings from phase 1. In summary, research will be undertaken in two phases. Phase one will be an exploration of the marketing communications factors and developments towards, or usage of, IMC through in-depth interviews with senior managers in SMEs in Lagos. Phase two will be based on stage one, more than likely by developing a structured questionnaire to be sent to all SMEs in Iceland. As indicated before, this second phase will be inextricably based upon outcomes from phase 1.
1.9. Definition of terms
Business: An organization or economic system where goods and services are exchanged for one another or for money.
Every business requires some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit.
SME: small and medium scale enterprises
IMC: integrated marketing communication
Strategy:A method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem.
Marketing: Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Communication: The act or process of using words, sounds, signs, or behaviors to express or exchange information or to express your ideas, thoughts, feelings, etc., to someone else.
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