MEASURING EFFICACY OF MARKETING ACTIVITIES THROUGH CONFIRMATORY FACTOR ANALYSIS – A STUDY ON COCONUT RETAIL MARKETS IN TUMKUR

Abstract

Since the marketing of coconuts in Tumkur is experiencing a steady decline, the purpose of this study is to assess the current marketing activities of coconut retailers, measure how effective those activities are, and advise those retailers on how to implement the most effective marketing strategies for future gains. The connection between the two criteria, marketing activity and marketing efficacy, is currently the subject of research that is being conducted. The merchants of the Tumkur market are the source of the primary data. The research covers the Taluks of Gubbi, Tiptur, Thruvekere, and Chicknayakanahalli. According to the data from the Coconut Development Board for 2015-16, these are the five Taluks that generate the most coconuts (Latest available). The researchers are interested in coconut product manufacturers and sellers located in the Taluks that have been designated for Tumkur. The number of stores in the sample is 125, and it was calculated using the Cochran Formula with a confidence level of 95% and an error margin of 10%. The questionnaire was constructed with consideration given to the findings of the study review. The retail shop data, marketing activity, and marketing effectiveness sections make up the three parts of the questionnaire. The SPSS Version 25 and AMOS R Version 23 software packages are utilized in the data analysis process. It is not possible to generalize the findings of this study to other goods or services because it is limited to coconut retail establishments in Tumkur's four Taluks. According to the data, there is a correlation between a one percent increase in marketing activity and a 0.69 percent increase in marketing effectiveness. The retention of customers should be the primary focus of the marketing plan employed by a retail business in order to be successful.
In order for marketing to be successful, it needs to be incorporated into the overall business plan. This strategy dictates how the store may effectively engage customers, prospects, and other businesses operating in the same market. According to the conclusions of the research, there are a number of essential elements that contribute to the success of retail outlets in the Coconut market. These factors include product policy, price strategy, delivery, advertising, and physical evidence plan.