Source: Field Survey, 2016
Note:
* - 10% Level of Significance
** - 5% level of significance
*** - 1% level of significance
The above table is the summary of the regression analysis of the
relative contributions of marketing strategies mix (elements) to the
company’s sales growth.
The elements are depicted in the model specified in chapter three of the
study. These elements were all significant, but at different probability
levels as depicted in the summary table. These are discussed below.
Price of the product was significant at 1% but contributes negatively
to the sales growth. This implies that increase in price of the product
will leads to fall in the sales volume of the product.
Quantity sold was significant at 1% and positively increases the sales
growth of the product. This implies that increase in volume may have led
to increase in quantity sold.
Advertising was significant at 10% probability level and positively
contributes to sales growth. This implies that increase advertising
efforts leads to increase in sales volume. The reason may be that
advertising media and, or appeals may have influenced the produced
behavior of the target market towards the product.
Sales promotion was significant at 1% probability level, and positively
influenced sales growth. This implies that increase in sales promotion
tools and efforts leads to increase in sales volume.
Product branding in was significant at 1% level of probability and
positively effects sales growth of the product. This implies that
increase in the branding efforts and strategies leads to increase in
sales growth of the product. The reason may be that the product has been
branded in a way that it attracted differentiation and positioning in
the minds of the target market.
Product availability was significant at 1% and positively affects the
product sales growth. This implies that increase in product availability
leads to increase in sales volume which invariably increases sales
growth. Frequency of product purchase was significant at 5% and
positively affects sales growth. This implies that increase in product
availability leads to increase in sales growth.