PROFIT ENHANCEMENT OF MEAT PRODUCTS MARKETING : THE CASE OF FAST FOOD AGRIBUSINESS IN NIGERIA

Year 2019, Volume: 2 Issue: 1, 1 - 8, 31.07.2019

Felix Achoja , Daniel Chukwujioke Okeke İfeyinwa Alexandra Egbuıwe

Abstract

Meat
products marketing agribusiness is a feature of developed economies that has
undergone improvement and extended to developing nations such as Nigeria. It is
still evolving all over the world. The meat products in fast food marketing
agribusiness is gaining a lot of attention in business and economy debates in
recent times. Most of the debates were anchored on the profitability. The
performance and growth of fast food marketing firm is highly depended on the
profitability. The growth of the fast food marketing firm in a competitive
business environment will depend on the application of profit enhancement
strategies. This subject matter is sensitive enough to warrant an
investigation. The study analysed profit enhancement strategies of meat product
marketing agribusiness in Nigeria. All the registered meat product marketing
agribusinesses equalling 100 in Delta state, Nigeria, were used for the study.
Collected data with questionnaire were analysed using a combination of
descriptive statistics and inferential statistics, awareness index and strategy
utilization index. Managers are 60% aware of profit
enhancement status. Profit enhancement utilization index of 42% was observed.
Regression analysis shows that marketing communication, feedback and
communication cost-based pricing and internal auditing are the major profit
enhancement strategies adopted by the managers of fast food marketing
agribusiness in the study area. The result of the study shows that
external factors (0.494), social factors (0.478) and consumers demand
(0.310)have a positive and significant relationship with the utilization of
profit enhancement strategies among fast food marketing agribusiness. Based on
findings, It is important for the 
managers of meat product marketing firm in the industry to scale up
their utilization of profit enhancement strategies.

Keywords

Profit, Enhancement strategies, meat products, Marketing Agribusiness

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