Complete Material Cost #3,000
Order for Complete Material now
ABSTRACT
This research examines marketing imperatives in the settlement of naira devaluation argument in Nigeria. The main objective of the study is to examine marketing imperatives in the settlement of naira devaluation argument in Nigeria. The specific objective of the study is to find out the problems associated with the naira devaluation in Nigeria, to examine the impact of marketing on the settlement of various arguments regarding the devaluation of Nigerian currency, to examine how marketing can provide solution in terms of demand and supply. The population of the study is made up of 200 persons comprising of both junior and senior staffs of the firms under study which include Bontis limited and First bank of Nigeria PLC, all in Rivers State. The Taro Yemen’s formula was used to determine the sample size of 133. Out of the total number of 133 copies of the questionnaire distributed, 75 copies were completed and returned while, 58 copies were not returned. The analysis was based on that. Findings revealed that there is significant relationship between marketing and Naira devaluation argument, and causes of devaluation of Naira. Based on the findings, summary, conclusion and recommendations were made which include that Government should set up machineries that will monitor the activities in the financial sector. This body will ensure that the right things are being done and not to control the market. The research recommended that bank recapitalization is a welcome idea; therefore, federal government should embrace it, private investors both domestic and foreign should be allowed to come into the market, so that competition can come in. By so doing, the naira devaluation challenges will be overcome. The Federal Government of Nigeria should divert for other means of revenue.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Marketing is perceived to be a major tool in setting the naira devaluation argument in Nigeria.
Nigeria economies totally depend on Naira, so if anything happens to the naira, almost every sector in the economy will be affected.
Nevertheless, some greedy Nigerians who want to be richer than everybody are still advocating towards illegal activities in the country in the name of being richer overnight.
Government personnel use government power to claim economic product all in the name of making money at the expense of its citizens thereby subjecting them to object poverty.
They also formulate policies that will be beneficial to them alone without considering the poor people in the society.
Naira has always been important to successive governments in politic earning. With the new democratic dispensation, the supply and distribution of economic products has improved, but this was without price, frequent increase in the price. The contemporary passion and tension that usually characterized naira discourse is due to inexplicable deprivations and suffering of Nigerians products as a result of total neglect of the principles and concept of marketing.
In the country today, all products have been erratic and on sharp decline, product prices have been on the increase as successive governments search for appropriate pricing. Inadequate supply and unending price increases have brought untold hardship on the citizens, which many industries have been compelled to close due to non availability of some of these products.
The role of government in the country due to naira devaluation is been redefined, and market are been deregulated (that is price controls are been broken).
But unexpectedly the outcome of these, has not been encouraging, continuous increase in product prices with persistent scarcity of naira in the country.
This study is going to focus on how marketing can unanimously settle the argument of naira devaluation in Nigeria.
1.2 STATEMENT OF THE PROBLEM
The inability of some business firms or companies to embark on proper and intensive marketing has contributed immensely to low productivity due to the devaluation if naira in the country.
Due to the devaluation of Naira in the country, one of the major challenges facing business organizations today is how to withstand competitors.
This occurs as a result of paying little or no attention to the marketers. Government also decides on their policies without taking cognizance of the effect on well being of citizens.
Therefore, this study shall evaluate the role which marketing play in the settlement of naira devaluation argument in Nigeria.
1.3 OBJECTIVE OF THE STUDY
The major objective of this research is to carry an empirical investigation on the role of marketing in the settlement of naira Devaluation argument in Nigeria. The following are the other objectives of the study.
1) To find out the problems associated with the naira devaluation in Nigeria
2) To examine the impact of marketing on the settlement of various arguments regarding to the devaluation of Nigerian currency.
3) To examine how marketing can provide solution in terms of demand and supply.
1.4 SIGNIFICANCE OF THE STUDY
This study will be of significant important to the people, government and business firms in the country. It will provide firms with useful information on how products produced to the customers will be available for consumption at affordable prices.
Finally, it will be beneficial to students in marketing department and also to anybody that may carry out further research.
1.5 RESEARCH QUESTIONS
The following questions have been formulated to aid in the smooth and perfect conduct of this study.
- What are the major causes of Naira devaluation in Nigeria?
- Has marketing created any impact on the settlement of Naira devaluation in Nigeria?
- Do you think marketing can provide solution in terms of demand and supply in Nigeria?
1.6 RESEARCH HYPOTHESES
From the research study, these pair of hypotheses are developed, using the Null and alternate hypothesis approach.
Meanwhile, the Null hypothesis is represented by Ho: while the alternate hypothesis is represented by Hi: therefore, the hypothesis is stated thus:
HO: There is no significant relationship between marketing and Naira devaluation in Nigeria.
HI: There is significant relationship between marketing and Naira devaluation argument.
HO: There is no significant relationship between Marketing and causes of Naira devaluation.
HI: There is a significant relationship between Marketing and causes of Naira devaluation.
1.7 SCOPE OF THE STUDY
This study is on marketing imperative in the settlement of Naira devaluation argument in Nigeria. The study limits scope to First Bank Nigeria Plc and Bontis Limited, all in Port Harcourt, Rivers State.
1.8 LIMITATIONS OF THE STUDY
The limitations of this research are many. However, the researcher tried within her possible reach to see that this research sees the light of the day.
The study was limited by the following factors.
1) TIME CONSTRAINTS: That is the availability of time frame given for the completion of this research was far too small compare to the nature of the study, coupled with other academic activities.
2) FINANCE AND COMMUNICATION: Inadequate funds affected the way data were collected since the researcher had to travel long distance for the distribution of the research questionnaire forms.
1.9 DEFINITION OF TERMS
MARKETING: It is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange that safety individual and organizational objectives.
MARKETING CONCEPT: This refers to how the organizational goods and achievement by identifying the needs and wants of customers and delivering products that satisfy customer more effectively than it competitors.
MARKETING STRATEGY: Is using vision and planning to create and deploy a company’s assets and capabilities most profitably.
MARKETING RESEARCH: This is a process of defining a marketing problem and opportunity system actually collecting and analyzing information organization’s activities.
ORGANIZATON SOCIALIZATION: This is the process by which an individual adapt to and come to appreciate the values, norms and require behavioural pattern of an organization.
DEVALUATION: This is a reduction in the value of a currency with respect to those goods, services or other monetary units with which that currency can be exchanged.
Complete Material Cost #3,000
Order for Complete Material now