MARKETING RESEARCH AS A TOOL FOR PROFITABILITY IN THE SERVICE INDUSTRY

ABSTRACT

Marketing research is the systematic design, collection, analysis and
reporting of data and findings relevant to a specific marketing situation
facing the company. (Koller P 2003).

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 carryout the study, the following objectives amongst others
were states;

- To ascertain the proportion of marketing bodget allocated to the
marketing research activities in a given period in AIICO Insurance Company.

- To ascertain, if the marketing research activities increase the number of
policy holders in AIICO insurance company.

- To ascertain whether marketing research contributes to increase in profit
in AIICO insurance company.

- To ascertain whether marketing research creates awareness of AIICO
insurance company and its services.

Based on the stated objectives, three hypotheses were formulated, they
are:-

Ho: Marketing research does not create awareness of AIICO insurance
company.

HI1 Marketing research creates awareness of AIICO insurance
company.

Ho2 marketing research does not increases the number of policy
holders

HI2 Marketing research increases the number of policy holders

Ho3 Marketing research does not increase profit of AIICO
Insurance Company.

HI3 Marketing research increase profit of AIICO insurance
company.

Extensive literature review of textbooks, newspapers, magazines business
journals and some past projects of graduated students who studied related
topic of the study was carried out to source secondary data. Primary data
were source from respondents comprising policy holders, management and
relevant staff of AIICO insurance company in Enugu.

The sample size was determined using Topman's formular 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 the process of the study, the following finding were revealed.

- That AIICO insurance company at one time or the other engaged in
marketing research activities.

- That the company has a marketing research department at the headquarters
only but not at the zonal offices.

- That marketing research activities increase the number of policy holders.

- That marketing research activities increase the profit level of the
company.

In view of the releasing 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.

TABLE OF CONTENTS

Title page

Approval page

Dedication

Acknowledgement

Abstract

Table of contents

CHAPTER ONE

1.0 Introduction

1.1 Background of the study

1.2 Statement of the problem

1.3 Objectives of the study

1.4 Formulation of hypotheses

1.5 Significance of the study

1.6 Scope of the study

1.7 Definition of terms

CHAPTER TWO

2.0 Literature review

2.1 What is marketing research?

2.2 Scope of marketing research

2.3 The place of marketing research in marketing

2.4 Marketing research problem facing Nigerian manufacturer

2.5 The future of marketing research in Nigeria

2.6 Role of marketing research in the service industry

2.7 Role of marketing research in the profitability of AIICO insurance company.

CHAPTER THREE

3.0 Research methodology

3.1 Sources of data

3.2 Population of the study

3.3 Sample size determination

3.4 Sampling technique

3.5 Research instruments used

3.6 Method of data treatment and analysis

3.7 Limitations of the study

CHAPTER FOUR

4.0 Data presentation and analysis

4.1 Test of hypotheses

CHAPTER FIVE

5.0 Summary of findings recommendations and conclusion

5.1 Summary of findings

5.2 Recommendations

5.3 Conclusion

Bibliography

Appendices