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.