| 1 |
Author(s):
Anetoh, John Chidume, Ewuzie Cajetan Obinna, Nwangene Ogochukwu Christian, Anetoh Vivian Chioma, Egbeh Placid Chukwurah, Ohazulike Leo Atuchukwu, Ndubisi Emmanuel Chidozie.
Page No : 1-18
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Chemosensory Attributes of Malt Brands and Consumers’ Repurchase Decisions in Nigeria
Abstract
This research investigated the chemosensory attributes of malt brands and its influence on consumer repurchase decisions in Nigeria. An ex-post facto as well as survey research design was adopted to ascertain the influence of the exogenous variables on the endogenous variables without manipulating the independent variables. The target population of the study consists of the consumers of Guinness, Maltina, Amstel, Dubic and Grand malt brands in South Eastern Nigeria. The study used a purposive sampling technique while 352 valid copies of the questionnaire were used for analysis. Composite reliability, convergent and discriminant validities were checked. Structural Equation Modeling technique was employed to test the hypothesized relationship at 5% level of significance. The findings show that gustatory and olfactory attributes of malt brands had significant positive influences on consumer repurchase decisions. It was found that consumers’ repurchase intentions significantly mediate the influences of gustatory and olfactory attributes of malt brands on consumers’ repurchase decisions. Also, the findings show that the influences of gustatory and olfactory properties of malt brands on consumers’ repurchase significantly differ by gender groups. The findings of this study serve as a strong platform for brand management and strategic decisions on the side of malt manufacturers, managers and marketers. This research has provided valuable insights and important implications to the major stakeholders in beverages industry in Nigeria.
| 2 |
Author(s):
Dr. Abdul Kanu.
Page No : 19-36
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The Rewards and Challenges of Entrepreneurial Marketing in SMEs
Abstract
Marketing is a significant function for every business organization. It is indisputable to assert that Small and Medium Enterprises (SMEs hereinafter) face marketing challenges due to scarce resources when compared to their larger counterparts. Hence, there is a heightened research interest in the marketing activities of SMEs. Thus, the purpose of the study is to investigate the rewards and challenges of entrepreneurial marketing in SMEs. The methodology involved a thorough review of literature on the topic being investigated. The study contributes to the world of knowledge by providing an in-depth understanding of the reward and challenges of entrepreneurial marketing amongst SMEs as well as complementing earlier studies done within the same area of study. The paper finds that entrepreneurial marketing enables entrepreneurs to think strategically and contribute positively to the success of their enterprises, positively impact SMEs' performance, helps SMEs to generate sales, grow and survive in modern-day competition, increase market share, increase revenue, improved efficiency as well as customer relationships. The paper also identified the challenges of entrepreneurial marketing, including inter alia, limited managerial and marketing knowledge and skills, poor marketing and sales efforts, narrow customer base, inadequate marketing activities, lack of expertise, managerial poverty, et al.
| 3 |
Author(s):
Dr. Udoka Bernard Alajekwu, Prof. Vincent N. Ezeabasili.
Page No : 37-52
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Dividend Policy and Stock Market Price Volatility in the Nigerian Stock Market
Abstract
One disturbing uncertainty in the stock market is stock market volatility. When a change in stock price a preceded by a similar directional change, it causes variation in stock volatility, creating stock riskiness. The inherent volatility in all stock market scares low risk takers from the financial market and is capable of deterring investments. One of the factors that drives investors’ reactions to stock pricings is the dividend policy. This study examined the effect of dividend policy on the volatility stock prices of firms quoted on the Nigerien Stock Exchange for the period spanning eleven (11) years from 2006 to 2016. The study employed the panel data regression technique to analyse data obtained from 60 firms, comparing 19 financial and 41 non-financial. Stock volatility was measured as the standard deviation of stock market prices while dividend policies were captured as dividend payout ratio, and dividend yield with five moderating variables (firm size, growth, leverage, earnings volatility and financial crisis). Findings revealed that dividend payout ratio has significant positive effect on stock market volatility of non-financial firms, and positive but insignificant effect for the financial firms. However, dividend yield has insignificant negative effect on stock market volatility for both financial and non-financial services firms. It becomes advisable that investors in the financial services sub-sector should ignore dividend policies, in share pricing and evaluation of stock riskiness.
| 4 |
Author(s):
Dr. Godwill C. Chukwu, Abdulkarim Adebisi Musa (Ph.D), Onita Uzoma.
Page No : 53-65
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Influence of Consumer Value on Consumer Behaviour Towards Made in Nigeria Products in Rivers State, Nigeria
Abstract
This study examines consumer value and consumer behaviour towards made in Nigeria products in Rivers State, Nigeria. To achieve the main purpose, two specific purposes, two research questions and one hypothesis were posed. Descriptive survey research design was adopted for the study. The population of the study was made up of all consumers in the 23 local government areas of Rivers State which are estimated to be around 7,409,304 people, that is, 4,112,001 males and 3,297,303 females. A sample size of 335 consumers of manufactured products such as readymade clothes, shoes, bags, furniture, sanitary, and cosmetics from the 23 LGAs was selected using convenient sampling technique and used for the study. A questionnaire validated by a marketing lecturer from Federal College of Education (Tech.), Omoku and a market from Ecobank of Nigeria, Bayelsa State branch was used to collect data for the study. The reliability of internal consistency using for the instrument was determined using Cronbach alpha test to obtain reliability index of 0.86. Data collected from the administration of instrument was analysed using percentage of Q+A x I (Atalık, 2009) to determine the consumer value for manufactured Nigeria products, mean and standard deviation were used to answer the research question on consumer behaviour towards Nigeria products. Hypothesis was tested using multiple regression computed with the aid of Statistical Package for Social Science (SPSS) version 21.0. The study revealed that consumers’ value derived from made in Nigeria product has significant influence on subsequent buying behaviour, however, the influence was below average because they indicated their will to sometimes buy made in Nigeria. Based on the findings, the following recommendation was made amongst others: marketers of made in Nigeria products must intensify their efforts in studying and understanding consumer value and how it affects behaviour towards their product offerings.
| 5 |
Author(s):
Azeez Folashade M., Balogun Adetoun R., Omotoye Oluwatobi O..
Page No : 66-74
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Corporate Social Responsibility and Organizational Performance: Evidence from Manufacturing Firms in Oyo State, Nigeria
Abstract
Some organizations have understood and embraced the concept of corporate social responsibility as a means of improving their performance. The purpose of the study is to determine the influence of corporate social responsibility activities on organizational performance. A survey research design was used in the study. The target population for this study is the skilled labour of Seven-Up Bottling Company Plc, Ibadan, and Nigeria Brewery Plc, Ibadan. 262 was used as the sample size for the study which was calculated by Taro Yamane Formula. The questionnaires were the main instrument of data collection. Descriptive statistics analysis was used for demographic data of the respondents while inferential statistics through the use of multiple regression were used to test the hypotheses. The findings revealed that corporate social responsibility significantly influences organizational performance. Furthermore, philanthropic, ethical, economic, legal activities significantly predict organizational performance among the manufacturing firms in Oyo State, Nigeria. It was concluded that four dimensions of corporate social responsibility activities which include; philanthropic activities, ethical activities, economic activities, and legal activities positively influenced organizational performance. The study recommends that senior management should always ensure continuous and intensive research and development to ensure maximum exploitation of activities used for managing and controlling corporate social responsibility to enhance organization performance.
| 6 |
Author(s):
Harcourt Horsfall (Ph.D).
Page No : 75-84
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Service Quality Peculiarities and Customer Satisfaction of Agricultural Merchants in Rivers State of Nigeria
Abstract
The study investigated the association between service quality peculiarities and customer satisfaction of agricultural merchants in Rivers State. The study adopted the descriptive method for the collection of vital information from sample customers of agricultural merchants in Port Harcourt, Rivers State of Nigeria. The survey design was also, adopted in this study as a means of gathering information from a group of people under study. The study adopted a simple random sampling technique to choose 125 customers of Agricultural Merchants in Rivers State. Primary data were collected through the use of the questionnaire administered on 125 customers of Agricultural Merchants in Rivers State, selected through a simple random sampling technique. However, out of 125 copies of the questionnaire were returned, the usable copies numbered 100 (80%). On the other hand, 20% (25 copies) of the questionnaire was not returned. The rate of usage as considered evidence has shown that 100 returned and usable copies represent 80% of the total copies of the questionnaire produced and distributed. Hence, these 100 copies were used for analysis. Pearson’s Product Moment Coefficient technique was used to test the hypotheses while, the ANOVA technique was used to test for the difference in mean between service quality peculiarities and customer satisfaction. Results revealed a significant relationship between service quality peculiarities and customer satisfaction of agricultural merchants in Rivers State of Nigeria. The study recommends that Nigerian Agricultural merchants should emphasize more on service quality peculiarities that relate maximally with customer loyalty. The study suggests that further studies be carried out on other industries other than the Agricultural Industry to verify the results of this study.
| 7 |
Author(s):
Oluwaleye Taiwo Olarinre, Shoyemi Olatokunbo Sunday, Adewole Aliu Olusola.
Page No : 85-93
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Impact of Promotional Strategy on the Development of Insurance Companies in Nigeria
Abstract
The study applies the indices of media advertising, personal selling, sales promotion, direct marketing and sponsorship marketing to investigate the impact of promotional strategy on the development of insurance companies in Nigeria. Descriptive survey design was used to administer a well self-structured questionnaire to the respondents. One hundred and thirty-five respondents were judgementally selected from five insurance companies in Nigeria. The retrieved data were coded and analysed using multiple regression analysis from SPSS version 20. Evidence from the result of regression test indicated that media advertising, personal selling, sales promotion, direct marketing and sponsorship marketing have positive and significant effect on the development of insurance companies in Nigeria. Thus, the study concluded that promotional strategy has positive and significant impact on the development of Insurance companies in Nigeria. It was recommended that Insurance firm should not sit comfortably in their office, rather, be on the go to meet prospective customers with valuable asset, thereby approaching them with cost-effective packages and other stimulants in order to attract their premiums and patronage.
| 8 |
Author(s):
Abere Mojisola Anne, Obarafo Sunday Abiodun, Adeleke Kareem Olalekan.
Page No : 94-105
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Application of Linear Programming to Firm’s Decision Making: Hypothetical Example
Abstract
The study investigated the application of linear programming to firm’s decision making: Hypothetical example. The objective of the study was to apply linear programming for optimal use of time in hair and body cream production. The decision variables applied in the study are two different types of cream (hair cream and body cream) produced by Seun Cream factory limited. Simplex method of linear programming approach was employed and evidence from the finding indicated that 6.5 unit of hair cream and 27.7 unit of body cream should be produced respectively which will give a maximum profit of ₦1107.75. In respect to the emanating finding from the study, the study concluded that Seun factory should produce the two types of cream (hair cream and body cream) in order to satisfy her customers, however, more of body cream should be produce in order to attain maximum profit, because they contribute mostly to the profit earned by the company. Thus, it is recommended that business whether small family business or large corporate should adopt optimization technique to enhance the decision making and to enhance efficiency and effectiveness of firm’s performance.
| 9 |
Author(s):
Oluwaleye Taiwo Olarinre, Shoyemi Olatokunbo Sunday, Edewusi Damilola Gabriel.
Page No : 106-114
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Effects of Claims Management on Profitability of Insurance Companies in Nigeria
Abstract
The study reviewed the effects of claims management on profitability of insurance firms in Nigeria with a view to examine the effect of net claim, expense ratio and loss ratio on the return on asset of listed insurance firms in Nigeria from 2010 to 2018. Time series annual data were collated from financial statement of account of insurance companies. The data were analysed via regression analysis which involved ordinary least square estimation technique. The study found that net loss has direct and significant effect on return on asset, expense ratio has positive with an insignificant effect on return on asset and loss ratio has an indirect with an insignificant effect on return on asset of quoted insurance firms in Nigeria. It was concluded that, claims management promote positive influence to insurance companies’ profitability in Nigeria. Thus, insurance companies in a bid to make profit should not forget the main reason for their existence which is bringing the insured back to his/her pre-loss position by paying genuine claims. Therefore, all efforts should be made to pay genuine claims promptly as this increase the confidence of the general public in insurance and the industry as a whole.
