Influence of Product, Price, Promotion and Place on Banana Market Trend in Kilimanjaro-Tanzania

Steven Tumaini; Raphael Gwahula; Salvio Macha

doi:10.19044/esj.2024.v20n28p40

Steven Tumaini The Open University of Tanzania (OUT), Tanzania
Raphael Gwahula Associate Professor in Finance and Accounting The Open University of Tanzania (OUT), Tanzania
Salvio Macha Lecturer in Finance Markets and Institutions The Open University of Tanzania (OUT), Tanzania

DOI: https://doi.org/10.19044/esj.2024.v20n28p40

Keywords: Banana, Marketing, Farmers, Kilimanjaro, Market

Abstract

The study focuses on the influence of Product, Price, Promotion and Place on Banana Market trends in Kilimanjaro. Also, the study provides the market strategy to enhance the competitiveness of banana companies in the current market dynamics. Through quantitative research, this paper revealed the effectiveness of (4P) in the Banana marketing strategy and the significant links between place, price, products, promotion and the impact in increasing the market opportunity in the banana sector. Specifically, the study evaluates the performance of marketing strategy practices across various dimensions. The Marketing mix strategy was explored in terms of 4p. The study was conducted in Kilimanjaro targeting a sample of 575 banana growers from 52 wards. This study employed a cross-sectional survey approach to examine the Influence of Four (4P) in the banana value chain Kilimanjaro. Descriptive statistics and chi-square tests were used in data analysis and the results were presented in tables to underline the study's important conclusion and recommendations. The results show that 99.3% of banana growers have a great challenge with access to the market and poor price information. Moreover, 62.8% of producers rely on middlemen rather than delivering bananas to private companies. Based on these findings, the private sectors are required to decentralize the business model and develop a marketing strategy by implementing the marketing mix in a way that will acquire and then sustain the competitive edge in the market. These will enhance the competitiveness of banana companies and lay a solid foundation for their sustainable success in the banana business.

Downloads

Download data is not yet available.

Metrics

Metrics Loading ...

PlumX Statistics

References

1. Beise, L. (2001). Specific Success Factors of the Global Diffusion Of Innovation. Global Marketing,10(2), http://www.emeraldinsight.com/Insight/ViewContentServlet?Filename=/published/emeraldfulltextarticle/pdf/0360120303.pdf
2. Beise, L. (2001). Specific Success Factors of the Global Diffusion Of Innovation. Global Marketing, 10(2),45-66. http://www.emeraldinsight.com/Insight/ViewContentServlet?Filename=/published/emeraldfulltextarticle/pdf/0360120303.pdf
3. Business Ball & All Business. (2010). Franchises world Add Trade Shows to Marketing Mix. http://www.allbusiness.com/retail-trade/3970398-1.html
4. Business Monitor. (2010) Why invest in Tanzania? Retrieved from http://www.businessballs.com/pestanalysisfreetemplate.htm
5. Business Monitor. (2010) Tanzania Economic Indicators Why invest in Tanzania? Retrieved from http://www.businessmonitor.com/bf/tanzania.html
6. Charles, C. (1993). Understand The Buying Process. Cited In Levy, M. (2009) Customer Experience Management in Retailing: An Organising Framework. New York University Elsevier.
7. China Daily Information (2002) China Daily Information domestic digital camera makers eye low-price market & quot;, Business Daily Update, October 25.
8. Elhajjar, S. (2024). The current and future state of the marketing management profession. Journal of Marketing Theory and Practice, 32(2), 233-250.
9. Filipenco, D., (2023) Top 10 biggest banana-producing countries in the world https://www.developmentaid.org/news-stream/post/165656/top-10-banana-producing-countries Aug 8, 2023
10. George, W. (2024). Demand and Consumption of Bananas (Musa spp.) in Tanzania.
11. Hassan, P. (1994). Global Marketing Segmentation Strategies and Trends. Retrievedfromhttp://scholar.google.co.uk/scholar?hl=en&lr=&cites=17544737779199573676&um=1&ie=UTF8&ei=yC_YS4GFPJH6_AbbpbDFBw&sa=X&oi=science_links&resnum=2&ct=sl-citedby&ved=CAsQzgIwAQ.
12. Hewitt Associates, (2002) Expatriate and returnee compensation and benefits findings and trends from the 2002 expatriate study paper presented to American Chamber of Commerce Beijing
13. Johnson, J. (2002). Marketing Strategy Determinant of Export Performance.
14. Langat, N. (2016). Influence of product, price, promotion and place on enterprise project performance: a case of Safaricom enterprise project, Uasin Gishu County, Kenya (Doctoral dissertation, University of Nairobi).
15. Lodovice, R. S., & Lee, Y. (2024). Price dispersion and domestic banana market response in the Philippines.
16. Levi, R., Rajan, M., Singhvi, S., & Zheng, Y. (2024) Improving farmers’ income on online agri-platforms: Evidence from the field. Manufacturing & Service Operations Management.
17. Mangarin, R. A. (2023). Price Issues and Challenges among Banana Growers: Basis for a Policy Memo. J. Legal Ethical & Regul. Isses, 26, 1.
18. Meya, A. I., Swennen, R., Ndakidemi, P. A., Mtei, K. M., & Merckx, R. (2023). Better nitrogen fertilizer management improved Mchare banana productivity and profitability in northern highlands, Tanzania. Agronomy, 13(5), 1418.
19. Murigi, M., Ngui, D., & Ogada, M. J. (2024). Impact of smallholder banana contract farming on farm productivity and income in Kenya. Cogent Economics & Finance, 12(1), 2364353.
20. Nedeljković, M., Jovanović, R., & Maksimović, G. (2024). Selection of marketing communication channels in agribusiness. Economics of Agriculture, 71(2), 639-651
21. Nyombi, K. (2013). Towards sustainable highland banana production in Uganda: opportunities and challenges. African Journal of Food, Agriculture, Nutrition and Development, 13(2).
22. Peter, D. (2007) Global shift-mapping the changing contours of the world economy, 5th ed. Sage. London, UK. [i.p.7]
23. Putra, F. A. Social Media Marketing Strategy in Increasing Student Enrollment and Retention.
24. Quayson, A., Issau, K., Gnankob, R. I., & Seidu, S. (2024). Marketing communications’ dimensions and brand loyalty in the banking sector. Revista de Gestão, 31(1), 115-132.
25. Quester, J. (1999) Standardisation, centralisation and marketing in multinational companies.
26. Roffik, M. N. H., Wibowo, S. A., & Zaim, I. A. (2024). Proposed Marketing Strategy to Increase Re-Visit Intention and Purchase Intention of Tourist in Yogyakarta: Case of CV. Jogja Jalan Jalan. European Journal of Business and Management Research, 9(3).
27. Roy, H.(2024) Connecting farmers’ markets to foodservice businesses: A qualitative exploration of restaurants’ perceived benefits and challenges of purchasing food locally. International Journal of Hospitality camp; Tourism Administration.
28. Safitri, D., Nugraha, R. N., Akwila, T., & Nurmanto, V. C. (2024). The Role of Promotion in Increasing Tourist Visits to Telaga Saat Puncak Destination, Bogor, West Java. West Science Social and Humanities Studies, 2(01), 218-226.
29. Shimbun, A. (2003), Local talent sourcing helps Matsushita Electric survives in China. Asahi Shimbun, 12 March. The China market and European market Business European Business Review Vol.17 No.2, 2005 pp.177-190 Emerald Group [i.p.5]
30. Simon, D. (2001) The Microelectronics Industry Crosses a Critical Threshold. Pricing and Surviving the Local Competition. The China market and European Market Business European Business Review Vol.17 No.2, 2005 pp.177-190 Emerald Group [i.p.4]
31. Svend, H. (2007) Mode of Entry Marketing Pearson Education. London.UK
32. Svend, H. (2027). Mode of Entry Marketing. Pearson Education London.UK.
33. Tallman, S. B., & Koza, M. P. (2024). Global Strategy in Our Age of Chaos: How Will the Multinational Firm Survive?. Elements in Business Strategy.
34. Tumaini, S., Gwahula, R., & Macha, S. (2024). The Influence of Complexity on the Adoption of Tissue Culture Banana Seedlings in Tanzania. International Journal of Business, Law, and Education, 5(1), 148-157.
35. United Nation (2024) Micro-, Small and Medium-sized Enterprises (MSMEs)https://sdgs.un.org/topics/capacity-development/msmes June 2024
36. Waluyo, T. (2024). Innovative marketing strategy in the agribusiness sector to increase farmers' income. Journal Arbitrase: Economy, Management and Accounting, 2(01), 1-9.
37. Webb, A. (2003) China: where it pays to be nimble Business Week Online, 5March,onlinehttp://www.emeraldinsight.com/Insight/ViewContentServlet?Filename=Published/EmeraldFullTextArticle/Articles/0540170205.html accessed 29/4/20010.
38. Williamson, J. G. (1965). Regional inequality and the process of national development: a description of the patterns. Economic development and cultural change, 13(4, Part 2), 1-84.