ASSESSEMENT OF MARKETING STRATEGY PRACTICES AT BRUH TESFA IRRIGATIONA AND WATER TECHNOLOGY PLC

Abstract

application of marketing concepts and principles. Success in the industrial market, as in the consumer market, depends on recognizing the importance of strategic planning, and deal with all the factors that can affect a firm’s ability to grow profitably. The primary focus of marketing strategy is to effectively allocate and coordinate marketing resources within a specific product market. As a result, management must design and follow a viable strategic planning process, a process that consists of developing a system of objectives, and plans as well as the allocation of resources to achieve the company’s objectives. Having this in mind, the aim of the study was to assess the industrial marketing strategy practices of Bruh Tesfa Irrigation and Water Technology PLC, and examine the implications of the industrial marketing strategy practices on the company’s mission. In order to gather the data from relevant sources, both primary and secondary data collection instruments such as questionnaire, interview, personal observation, and documents review were used. The study adopted the data triangulation technique by using a combination of data sources with the effect that the strength and weakness in each sources are compensated when used together. The total population of the study was 280 employees in which 110 questionnaires were distributed to selected respondents using quota sampling method that represents 39% of the total population. Quota sampling was preferred in order to secure equal representation of all the functional departments of the company. Generally, the overall marketing strategy practices of the company along with the employees’ commitment discharging their responsibility for the effectiveness of the marketing strategy practice was found positive. However, the company does not have strategic plan and it focuses on short term plan in which this will have a long term negative impact on accomplishing its mission. Furthermore, there are indications of less effectiveness in implementing its marketing programs, and strategies, in which resulted in shortage of working capital and low sales volume. Based on the findings, the researcher recommended that the company should design its strategic plan in order to achieve its objectives. Moreover, guided by its objectives the company must develop a set of pricing policies, spelling out what price situations the firm will face and how it will handle them. Indeed, the company should focus on designing the right strategy which can help enhance the promotional activates, distribution channels, and pricing policy and strategy in line with coordinated marketing research. Subsequently, it must appropriately follow up the proper implementation of the overall marketing strategy and evaluate its effectiveness.