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ABSTRACT
The study evaluated strategies of exportation of made in Nigeria goods. The specific objectives are to examine the extent to which foreign marketing strategies enhance exportation capacity Made-in-Nigeria goods, to find out the steps and legal considerations for a successful exportation of made in Nigeria goods, to identify the essential elements of foreign marketing strategies for exportation of made in Nigeria goods, to understand the current trends and department that aid marketing strategies for exportation of made in Nigeria goods. The descriptive research design to ensure that the information obtained is relevant to the research question which deal with the discussion on the strategies of exportation of made in Nigeria goods. The field investigation carried out shows that there are 112 in the organization that was studied which represent the population of the study. The sample size of the study 88 respondents. Findings revealed that that foreign marketing strategy enhances exportation capacity of Made-in-Nigeria goods. Based on the findings of the study summary, conclusion and recommendations are made exporters of made-in-Nigeria goods should try and identify some current foreign marketing strategies that can be applied for the exportation of made in Nigeria goods, they should also be conscious and as such analyze and identify the problems associated with foreign marketing towards ensuring exportation of Made-in-Nigeria goods, the identification of necessary exportation documentation for foreign marketing must always be taken into consideration to ensure an effective exportation in Nigeria.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Any developing country seeking to achieve economic growth should endeavour to reduce importation to the barest minimum and utilise locally resources, even if not having the required production capacity for export purposes. In Nigeria for instance, those products that are manufactured locally are referred to as “Made-in-Nigeria goods”. However, no matter how cheap a product is, a population that has majority of her inhabitants living below poverty level has to evolve stringent strategies to ensure that the products it intends to offer meets the consumers’ need and that it has the required financial ability to initiate purchase (Alego, 1992).
As society undergoes rapid changes and becomes more affluent, newer social forces make consumers spend a greater part of their income in ways markedly different from what took place in the past. Consumers want the advantages of affluence and the latest services that technology and business can offer (Achumba, 1998). Also, manufacturers of locally made goods who peradventure have to compete with imported ones in the market might have to devise strategies to maintain a competitive advantage, in order to remain in the market.
The important role of marketing in determining the success or otherwise of any organization cannot be over-emphasized notwithstanding the size of such an organization. Research into the secret of the development of some modern day corporations which could be regarded as industrial giants, showed that aggressive marketing made them what they are today (Mbagwu, 1993). The increasing competition from a lot of new entrants into the market, dwindling consumer purchasing power, increasing awareness on the part of the consumers and a renewed emphasis by the consumers on the need to have values for their money have made new initiatives imperative in the Nigerian market that is saturated with all sorts of imported products (Kotler, 1984).
Manufacturers of locally manufactured goods are therefore faced with a situation where product differentiation – in terms of price and quality, customer needs and company capabilities, interest in a competitive context since these factors converge to form the customers’ definition of value (Akingbola, 1999). Opportunities equally abound to compare the locally made goods with some imported ones available in the market (smuggled or otherwise) which are meant to satisfy similar purposes (Oladele, 2006).
1.2 STATEMENT OF THE PROBLEM.
Nigerian manufacturing sector is assailed by powerful forces, which have been threatening its existence. Factors internal and external imperil its survival. Indeed, it is no exaggeration that most of Nigerian manufacturing capacity may cease to exist by the middle of the decade unless urgent steps are taken to reverse the visible progressive decline, in absolute and relative terms of the manufacturing mix (Sobowale, 1997).
Increasing globalization of world trade and Nigerian’s continuous trade liberalization has encouraged dumping of foreign goods in the country thereby making marketing of home-made goods not only difficult, but in some cases almost impossible. Over the last decade, Nigerian manufacturers have been enmeshed in a dilemma, borne out of ensuring long-term survival in an atmosphere of ever increasing product cost, and ever-decreasing consumer purchasing power (Akomolede and Oladele, 2008).
While other business functional areas are busy with immediate responsibilities cost reduction, increased productivity, financial discipline etc, the marketing manager must formulate and implement effective marketing strategies that will improve competitiveness regardless of the turbulent and unpredictable nature of our business environment. Previous studies have also shown that Nigerians have unfavourable attitudes toward homemade goods (Aire, 1973; Kalegha, Okechukwu & Soyeye, 1983).
In view of the aforementioned, this study critically examine the strategies of exportation of Made-in-Nigeria goods with special reference to Nigeria Export Promotion Council.
1.3 OBJECTIVES OF THE STUDY
The main objective of the study is to critically appraise the strategies of exportation of Made-in-Nigeria Goods.
The specific objectives are:
- To examine the extent to which foreign marketing strategies enhance exportation capacity Made-in-Nigeria goods.
- To find out the steps and legal considerations for a successful exportation of made in Nigeria goods.
iii. To identify the essential elements of foreign marketing strategies for exportation of made in Nigeria goods.
- To understand the current trends and department that aid marketing strategies for exportation of made in Nigeria goods.
1.4 RESEARCH QUESTIONS
The following shall be the research questions for this study.
- To what extent does a foreign marketing strategy enhance exportation capacity of Made-in-Nigeria goods?
- What are the legal considerations for a successful exportation of made in Nigeria goods?
iii. Are there essential elements of foreign marketing strategies for exportation of made in Nigeria goods?
- What are the current trends and department that aid marketing strategies for exportation of made in Nigeria goods?
1.5 HYPOTHESES
Following the above research question the hypothesis for this study is stated below as follow:
HO: Foreign marketing strategy does not enhance exportation capacity of Made-in-Nigeria goods.
HI: Foreign marketing strategy enhances exportation capacity of Made-in-Nigeria goods.
1.6 SIGNIFICANCE OF THE STUDY
This study firstly, will proffer suggestion on alternatives mode of transaction with the problems necessitated with the exportation of made-in-Nigeria goods as well as educating imports and export on all the necessary in foreign marketing strategies, the study will be of great important to adjust government policies and implementations on trade transaction etc, and ensure efficient exportation. In the case of further research respectively.
1.7 SCOPE OF THE STUDY
The study is centered and focused on analyzing the way toward on designing effective exportation strategies towards a successful exportation of made-in-Nigeria goods. This study is entered on Nigeria. It will be too large to study Nigeria at large so the research limit the study Nigerian Export PromotionCouncil.
1.8 LIMITATION OF THE STUDY
This research work is basically on a critical appraisal of the strategies of exportation of made in Nigeria goods. However, in composing this study the researcher encountered challenges of limited fund to source for information related to the subject matter, other limitation include the lack of adequate time frame and materials needed respectively.
1.9 DEFINITION OF RELATED TERMS
Exporting: Is shipping of the goods and services out of the port of one country to another.
Consolidation: Is a process of becoming better and stronger.
Exchange Rate: This is the rate at which various currencies exchange with one another.
Strategy: A game plan designed to achieved desired goods and objectives.
Marketing strategy: Is a process that can allow an organization to concentrate its limited resources on the greatest opportunities.
Import license: Specific commodities placed on license so that the numbers of people that will be importing the commodity will be reduced.
Exchange rationing: This involves the allocations of foreign exchange to some government authorities. These authorities in turn rotate the foreign exchange among the competing demands.
Embargo: An outright prohibitation in the importation of some items. The purpose of embargo it is to encourage local industries and cut down on the use of foreign exchanges as well as cutting down harmful commodities like cocaine cigarette, wheat etc. anyone caught importing two commodities will be punishable by law.
International Trade: International trade means transaction between country and other countries of the world.
Made-in-Nigeria: Made-in-Nigeria” goods can be said to be goods manufactured in Nigeria by manufacturing companies based in Nigeria using mainly locally sourced materials.
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