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Question:

Discuss about the Business Reseach Project.
 
 

Answer:

Introduction

Traditional marketing focuses on sales and profitability of the organizations. But, on the other hand, modern and digital marketing plays important role in augmenting the satisfaction level of customers also. Similarly, integrated marketing combines traditional and digital marketing which provides assistance in increasing financial performance of the firm with high level of customer satisfaction (Sobh and Perry, 2006). The current research project is based on integrated marketing and its impact on sales and competitive position of the organizations of Persian Gulf. Regarding this current research has been chosen oil and gas industry of Western Asia. Research will follow a specific process for attaining aim and objectives and this process includes literature review, research methodology and data analysis.

Research Project Outline

Title: To determine the major impacts of integrated marketing solutions on sales of oil and gas industry of Persian Gulf.

Objectives

  • To understand the concept of integrated marketing solutions.
  • To determine the positive and negative impacts of integrated marketing solutions on oil and gas industry of Persian Gulf.
  • To suggest appropriate integrated marketing solutions for increasing sales and financial performance of oil and gas industry of Persian Gulf.

Research Question

  1. What is the meaning of integrated marketing solutions?
  2. What are the major impacts of integrated marketing solutions on oil and gas industry of Persian Gulf?

Research Problem

Customer satisfaction was one of the major problem for oil and gas industry of Persian gulf because there are number of companies that apply traditional marketing techniques for increasing awareness of customers about their products, but, these techniques help in increasing sales and profitability but do not pay attention towards the accomplishment of needs and requirements of customers (Sheth and Sisodia, 2015). So, traditional marketing solutions are not appropriate for increasing customer’s satisfaction. So, number of companies use integrated marketing solutions but these are little costly as compare to traditional methods. Along with this, these companies do not have appropriate conclusion about the use of impacts of integrated marketing on sales of the company. So, it is considered as major research problem. So, author will sue suitable methods and approach for resolving appropriate solution for the study (Lusch and Vargo, 2014).

 

Focus and Purpose

According to the above discussion author will focus on different aspects such as traditional and integrated marketing solutions and its impact on overall performance of the firm. Research study will also shed light on sales record of the oil and gas industry of Persian Gulf. Along with this, focus will also be given on effect of integrated marketing on sales records of the organization. Therefore, major purpose of this investigation is determining positive as well as negative impacts of integrated marketing on sales and profitability of the firm. Appropriate research plan will help in attaining this purpose in smooth and appropriate manner.

Identification of the Factors that Contribute to the process of Research Project Selection

Integrated marketing is one of the major contemporary topics of the research so; researcher has decided to conduct investigation on this subject. Along with this, author has some theoretical knowledge about this subject so researcher wants to apply it in practical aspect. Including this, through this research paper researcher wants to deter mine the major relationship between sales and integrated marketing. Further, there is a huge scope of the research on this subject so, all these are considered as major factors of project selection (Lee and Morrison, 2010).

Critical Review of Key References

Researcher wants to conduct Meta analysis on the research subject and regarding this author needs to select appropriate research papers on similar subjects. These papers needs to be published by past research scholars. So, author will conduct a literature review for completing whole investigation (Lillis, 2008). After conducting literature review study will determine research gap which will help in formulating aim and objectives in appropriate manner. Including this, literature review will also help in understanding research problem in effective manner. Author will collect research papers on integrated marketing solutions and Persian Gulf. Along with this, articles will also be based on effects of integrated marketing (Percy, 2014).

 

Integrated Marketing

Kumar, 2017 has defined that “Integrated marketing is combination on traditional and modern techniques of marketing which communicate consistent and appropriate message from company to all stakeholders” (Kumar, 2017). As per this statement at the time of using integrated marketing companies need to focus on both traditional as well as digital marketing strategies. Similarly, Baines and et.al, 2017 has asserted that “This marketing approach provides an unified and seamless experience to each and every customer by which they can make direct contact with specific brand and enterprise” (Baines and et.al, 2017). Along with this, Shi and et.al, 2017 has stated that “Integrated marketing focuses on all aspects of promotion and advertisement such as sales promotion, public relations, direct marketing, telephonic and mail marketing, social media and other digital marketing etc” (Shi and et.al, 2017). Further, Steenkamp, 2017 has also disclosed that “this marketing approach assure about the communication and messaging channels that whether these channels are appropriate for customers or not” (Steenkamp, 2017). Oil and Gas industry of Persian Gulf uses integrated marketing and due to this, customer of the company interact with the organizations easily which plays important role in developing strong association with consumer (Integrated Marketing Definitions, 2017). Therefore, review of literature has reflected that integrated marketing is one of the best ways to increase awareness of customers about the products and services of the company.

Integrated Marketing Solutions

Raja, Frandsen and Mouritsen, 2017 has said that “Marketing mix of the organization focuses on only four basis solutions such as product, price, place and promotions” (Raja, Frandsen and Mouritsen, 2017). But integrated marketing solutions comprise people, process, physical evidences, etc. Along with this, it also focuses on cost, customers, communication and convenience. Therefore, all these solutions play important role in attaining marketing objectives in effective manner. In addition, effective communication with customers is one of the major advantages of integrated marketing solution. So, these solutions plays important role in developing appropriate strategies for product, price, place, promotion, cost, communication, process and people (Integrated Marketing Solutions, 2017). Malshe, Sohi and Krush, 2017 has stated that “Integrated marketing helps in making shift from traditional marketing to digital marketing and mass media to specialised media” (Malshe, Sohi and Krush, 2017).

Impacts of Integrated Marketing on Sales and other Performance

Integrated marketing has positive as well as negative impact on overall performance of the organization. Babin and Zikmund, 2015 has stated that “integrated marketing reduces the total marketing cost because it helps in maintaining data base in effective manner” (Babin and Zikmund, 2015). Therefore, it plays important role in reducing cost burden which is beneficial for augmenting the profit level of the organization. Lusch and Vargo, 2014 has asserted that “integrated marketing is also known as international marketing which help in making tough competition in foreign countries” (Lusch and Vargo, 2014). Therefore, integrated marketing is one of the best strategies for attracting global customers that leads increment in local and international sales of the company. Including this, integrated marketing can easily influence customers to buy products and services of particular company which has positive impact on financial performance of the firm. Overall, integrated marketing has sportive impact on customer’s behaviour and satisfaction, marketing activities and marketing cost which help in increasing financial performance of the firm (Lillis, 2008).

But, on the other hand, implication of integrated marketing requires high skills and experiences, company needs to high skilled and experienced employees. It has negative impact on human resource management cost of the company. High HR cost can decline the total profit of the company. Overall, integrated marketing has positive and negative impacts on sales of the company (Baines and et.al, 2017). So, researcher needs to conduct a systematic research for determining impact on integrated marketing solutions on sales of oil and gas industry of Persian Gulf.

Research Project Specification

The current research is based on integrated marketing and its impact on sales, financial and competitive position of organizations. It has chosen by researchers because there are number of organizations that use integrated marketing solutions for increasing awareness of products and services in eyes of customers of the company. So, researcher wants to determine the impact on integrated marketing on sales and profitability of the firm. Along with this, it is a research now because oil and gas industry of Persian gulf is using integrated marketing strategy but there is no research on its impact on sales so, author has selected this subject for current investigation (Bhattacharyya, 2009).

 


Final research will be significant because it will provide assistance to PhD scholars for conducting studies in coming time on similar subjects. Along with this, it will also be beneficial for selecting appropriate strategy for organization.

Appropriate plan and process for the agreed research specification

Research Methodology

Research plans includes appropriate methodology that comprises different tools and techniques of the research that plays important tools in attaining all solutions of research questions. As per the above discussed aim and objectives author needs to select suitable research design, philosophy, approach and strategy. Along with this, author needs to choose suitable methods for collecting and analysing data (Daniel and Sam, 2011). Therefore, research methodology will play important role in making the final conclusion for the entire research investigation.

Research design

Determining impacts of integrated marketing solutions on sale and financial performance is the major aim and objective of the current research. For attaining this aim researcher needs to develop an appropriate plan which also known as research design. According to objectives of the study researcher needs to analyse the sales performance and marketing strategy of oil and gas industry of Persian Gulf. Regarding this, author will use descriptive research design for completing this investigation in effective manner (Flick, 2011). It has selected by researcher because it is an appropriate design for completing theoretical and qualitative research on selected subject.

Types of the Research

There are two different research techniques for analysing research problem and these are qualitative and quantitative research. The current study is based on integrated marketing and sales analysis of the organization which is a subjective concept. So, study will use both qualitative and quantitative research techniques. In which, qualitative research technique provides assistance in understanding research problem. It includes different theories and concepts which will play important role in resolving research problem in better manner (Kumar, 2014). On the other hand, quantitative research focuses on numerical analysis so; it will assist in analysing sales target and financial performance of the oil and gas industry of Persian Gulf in effective manner.

Research Philosophy

It is a most appropriate technique of research which plays important role in getting appropriate base for conducting investigation in effective manner. There are two type of paradigm positivism and intrepretivism. In which for the current research author will focus on positivism because it is based on objective concept of the research rather than subjectivity of the research topic. Therefore, using this philosophy author will attain aim and objectives in effective manner. Overall author will analyse the major impacts of integrated marketing on overall performance of the firm (Kumar, 2017).

Research Approach

Approach of the research decides the way by which author can complete the whole investigation that will play important role in getting solutions of research questions. There are two major approaches inductive and deductive. As per the above discussion author has developed appropriate research question for the whole study so author will use deductive research approach. This approach shed lights on the general to specific research. So, author will conduct general research on integrated marketing and its impact on organization’s sales performance. Afterwards, author will analyse the final results with the context of oil and gas industry of Persian Gulf (Babin and Zikmund, 2015). Author will not apply hypothesis testing so, inductive research approach will not appropriate for the current study.

Data Collection Methods

Resolving research problem in effective manner is not an easy task for researcher, so, for getting appropriate solution of the research problem author will collect appropriate information using different methods of data collection. There are two specific methods and these are primary and secondary data collection techniques. Author uses primary tools for collection new and fresh data about the subject. On the other hand, secondary data collection methods are generally used by researcher for obtaining past information about the subject which are already available. For the current investigation author will use secondary data collection method for gathering information about integrated marketing solutions and sales performance of oil and gas industry of Persian Gulf. Regarding this, author will select appropriate secondary sources such as annual reports of oil and gas companies, books, journals, research papers, websites and literature. All these information will provide appropriate insights to understand the research problem. Along with this, author will also apply inclusion and exclusion criteria for conducting Meta analysis of the research papers. As per the inclusion criteria author can extract only those papers which have been published after 2010 and in English language (Shi and et.al, 2017017). Along with this, exclusion criteria can exclude all those papers which will not based on research subject and don’t relevant to the study. Therefore, all these tools and techniques are very effective for collecting suitable data for whole investigation on the research subject.

 

Data Analysis

After obtaining appropriate data author needs to analyse the collected facts and figures in effective manner which will play important role in resolving research problem. There are two major techniques for analysing obtained data and these include thematic and statistical analysis. For the current investigation author will use thematic analysis only because lack of the numerical information about the research subject. Thematic analysis is one of the best ways to conduct study using qualitative research technique. Along with this, using this technique author can develop different themes for attaining aim and objectives. Thematic analysis will be based on subjective information about the integrated marketing solutions which are used by oil and gas industry of Persian Gulf. Along with this, it will also develop different them for positive and negative impact on integrated marketing on sales of the company (Malshe, Sohi and Krush, 2017). Overall data analysis will develop a strong and meaningful conclusion for resolving research problem.

Time scale

Gantt chart is the best tool for presenting time scale for each and every activity of the research. It includes total duration in which each activity will be completed (Sobh and Perry, 2006). Gantt chart for current investigation is described as under:

Table 1: Gantt chart for the current research

Activity and Duration in days

1

5

10

15

20

25

30

35

40

Review of the research subject

 

 

 

 

 

 

 

 

 

Formation of the aim and objectives

 

 

 

 

 

 

 

 

 

Review of available literature

 

 

 

 

 

 

 

 

 

Research methodologies

 

 

 

 

 

 

 

 

 

Secondary data collection

 

 

 

 

 

 

 

 

 

Analysis of the collected data

 

 

 

 

 

 

 

 

 

Monitoring and analysis

 

 

 

 

 

 

 

 

 

Final execution and completion

 

 

 

 

 

 

 

 

 

 

 

Conclusion

The current research project is based on integrated marketing and its impacts on sales of oil and gas industry of Persian Gulf. Report has used appropriate research methodology and data collection methods which will help in attaining aim and objectives of the study in effective manner. Final result of the study will provide assistance in conducting future research on similar subject on other industries.

OR

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"Integrated Marketing Solutions ." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/integrated-marketing-solutions.

My Assignment Help (2018) Integrated Marketing Solutions [Online]. Available from: https://myassignmenthelp.com/free-samples/integrated-marketing-solutions
[Accessed 09 April 2020].

My Assignment Help. 'Integrated Marketing Solutions ' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/integrated-marketing-solutions> accessed 09 April 2020.

My Assignment Help. Integrated Marketing Solutions [Internet]. My Assignment Help. 2018 [cited 09 April 2020]. Available from: https://myassignmenthelp.com/free-samples/integrated-marketing-solutions.


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