PROBLEMS AND PROSPECTS OF MARKETING IN SMALL-SCALE BUSINESS IN NIGERIA (A CASE STUDY OF AQUA RAPHA, GOD’S HEALING WATER IN ENUGU) 2
This research work is centered on the Problems and Prospects of Marketing in Small-Scale Business in Nigeria.
The study was aimed at identifying and examining the problems militating against the effective operations of small-scale business. Also the study was focused on analyzing and assessing the marketing activities of small-scale business, with a special reference on Aqua Rapha (God’s Healing Water) Company.
The data for the study were collected using questionnaires and oral interviews.
The hypothesis of the study were tested using chi-square. After analyzing and testing the hypothesis, the researcher made the following findings:
· Firstly, that Aqua Rapha (God’s Healing Water) Company practices marketing concept.
· That Aqua Rapha (God’s Healing Water) Company does not carryout marketing research. It was also discovered that the company promotes their product through personal selling.
· Furthermore, the researcher discovered that the customers of Aqua Rapha (God’s Healing Water) Company are satisfied with their distribution systems.
· Based on the findings the researcher made the following recommendations.
i) That Aqua Rapha Company should adopt and practice marketing concept.
ii) That the firm should always-carryout marketing research.
iii) That it is imperative for the company to carryout a proper blending of the marketing mix.
iv) That Aqua Rapha should employ a marketing professional.
TABLE OF CONTENTS
Table of Contents
CHAPTER ONE: INTRODUCTION
1.1 Background of Orientation of Problems
1.2 Statement of Problems
1.3 Historical Background
1.4 Objective of the Study
1.5 Statement of Hypothesis
1.6 Limitation of the Study
1.7 Definition of Terms
CHAPTER TWO: LITERATURE REVIEW
2.1 The Meaning of Marketing
2.2 An Over view of Small-Scale Industrial Development in Nigeria.
2.3 Definition and Characteristics of Small-Scale Enterprise.
2.4 The Importance of Small-Scale Industries for Economic Development
2.5 The Strategy for Marketing in Small-Scale Business
2.6 General Problems Encountered by Small-Scale Business in Nigeria
2.7 The Practice of Marketing Concept in Small-Scale Business.
2.8 Marketing of Product in Aqua Rapha (Healing Water for Every Body)
2.9 Prospects and Viability for Promotion
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Research Design
3.2 Source of Data
3.3 Population of the Study
3.4 Research Instrument used
3.5 Sample Size Determination
3.6 Sample Technique
3.7 Method of Data Treatments and Analysis
CHAPTER FOUR: DATA PRESENTATION AND INTERPRETATION
CHAPTER FIVE: SUMMARY OF FINDING
After about a decade and a half of adopting an industrialization strategy based on large-scale industries, mostly of the assembly type, Nigeria has failed to achieve industrial development. The large-scale industries, which were setup, tended to be capital intensive and in appropriate, given the country’s resources endowment. Their capital equipment and technical manpower have continued to be largely imported. As a result, the triple objective of setting up large-scale industries namely:
1. Achievement of high level employment
2. Local sourcing of raw materials.
3. And saving of foreign exchange acquisition materialized.
In response to the weakness of large-scale manufacturing government has sought to promote small-scale industries as a strategy for self-reliant industrialization. In Nigeria economy, attention has been drawn to the fact that small-scale enterprises have received very little attention where as it is providing employment for approximately triple the number engaged in large-scale manufacturing as well as playing their role which is crucial importance to our developing economy.
This is why it is important to reconsider the problem hindering the growth of his sector. Such problems the researcher has classified into managerial and financial inhibitions as well as some of the government policies, which do not favour small-scale industries.
1.2 STATEMENT OF PROBLEMS
For the period under review, the country’s economic objective were centered on reducing the level of important and promoting the expansion of domestic production especially in the small-scale manufacturing sector.
However, small-scale industries in Nigeria today are faced with a lot of problems.
These problems go a long way to hamper their prospects and growth in the country and thereby limiting their potential contributions to the development of the economy.
Such problems are as follows:
a) Many small-scale industries do not possess a visible feasibility study of their projects.
b) There is also the problem of loan misapplication and non-repayment of loans.
c) They keep poor accounting and business records, and
d) Because of the low capital outlay involved, experts are not often employed.
The researcher will therefore, focus attention on the problems and prospects of parts company limited and what the company should do to alleviate these problems hindering it’s prospects and opportunities available to it.