Open AccessInfluence of 4P Strategy on Organisation’s Performance: A Case on Bangladesh RMG Sector
Author(s) -
Rashed Al Karim,
Wardha Habiba
Publication year - 2020
Publication title -
international journal of entrepreneurial research
Language(s) - English
Resource type - Journals
eISSN - 2663-7588
pISSN - 2663-757X
DOI - 10.31580/ijer.v3i1.1166
Subject(s) - competitor analysis , product (mathematics) , promotion (chess) , business , marketing , clothing , product strategy , strategy implementation , industrial organization , new product development , mathematics , product management , geometry , politics , political science , law , archaeology , history
The right 4P strategy empowers organisations to pursue their marketing objectives in the target markets and therefore achieve the organisational objectives. Proper implementation of the right 4P strategy ensures provision of the right product, at the right price, in the right place thus, confirms that resources are efficiently and effectively utilized. This study aims to investigate the impact of 4P strategies on organisation performance in the garments industry of Bangladesh based on CEPZ (Chittagong Export Processing Zone). McCarthy’s (1964) 4 P’s (such as product, price, place, and promotion) are considered as the elements of 4Ps in this study. Data was collected through survey where a structured questionnaire, containing 25 closed-ended questions, was used. A total of 180 respondents were selected conveniently for this survey. The data was analysed using SPSS 24.0 version. From the findings of the study it was found that product, place, price and promotional strategies significantly and positively influenced the organisation's performance. The findings suggest that by focusing on 4P strategy, the organizations can make better performance than their competitors. Eventually, few recommendations were offered for the garment industry.