| 1 |
Author(s):
Okolo Victor O. A., Ikpo Kobi P., Obikeze Chinedum O..
Page No : 1-16
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Influence of Customer Feedback on Customer Retention in Deposit Money Banks in South-Eastern Nigeria
Abstract
This study specifically examined the influence of customer feedback on customer retention in in deposit money banks in South-Eastern Nigeria. The population of the study consists of customers of selected Access Bank, UBA and First Bank in Enugu, Awka and Owerri in South-Eastern Nigeria. The study target population includes the intercepted customers of Access Bank, UBA and First Bank in South-Eastern Nigeria. Survey method was adopted for the study and the sample size of 384 was determined using Freud and William’s formula. Cronbach’s alpha was used to determine the reliability of the instrument of 0.879. Questionnaire was adopted as the instrument for the collection of primary data and was distributed to the 384 customers who returned 300 that were correctly filled. Analysis of data was conducted using simple linear regression statistical technique with the aid of statistical package for social sciences (SPSS) software version 22. The study revealed that customer feedback has a significant positive influence on customer retention in banks in South-Eastern Nigeria. Thus, customer feedback is a robust service marketing strategy for attracting and retaining customers throughout their lifetime in the banking industry. The study therefore recommends that Access Bank, UBA and First Bank should continuously improve on soliciting and implementing customer feedbacks to make their customers more committed to passing important information that would support sustainable quality customer service delivery.
| 2 |
Author(s):
Temitope J. Owolabi, Oluyemi T. Adeosun.
Page No : 17-32
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Succession Planning and Talent Retention: Evidence from the Manufacturing Sector in Nigeria
Abstract
Manufacturing firms are regularly filling management and top leadership positions. Any organization's imminent performance depends on the rigor of succession planning and management commitment to it. With increased employee turnover rate, organizations risk losing a wealth of knowledge to old employees, which new employees cannot learn from reading manuals or hand over notes. One-way employee retention can be guaranteed in any organization is the employee's perception towards the possibility of taking up higher roles that are more challenging in the future. The study identifies ineffective succession planning strategy as a factor responsible for the increase in employee turnover in the organization. Using both qualitative and quantitative methods, 218 respondents were purposively selected to examine how the improvement of the succession planning strategy could reduce the rate of employee turnover. Therefore, it recommends embarking on advocacy to gain management's commitment to the development of potential employees for future roles
| 3 |
Author(s):
Aliu Akidele Anifowose, Adejimi Seun Oyebola, Ajiboye Folasade Alaba.
Page No : 33-44
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Effect of Demarketing on Consumer Perception of Product Quality
Abstract
The study examined the effect of demarketing on consumer perception of product quality. In this survey, we find out the extent to which demarketing Strategy decreases demand and affect consumer perception of product quality; examine the effect of decrease in product demand on consumer perception of product quality; investigate the extent to which increase in product price affect consumer perception of product quality; investigate the extent to which limited product distribution affects consumer perception of product quality and determine the effect of narrow advertisement on consumer perception of product quality. Data for this study was collected using structured questionnaire containing 25 questions. Out of 350 questionnaires that were distributed, 323 were returned while 312 (89%) were usable. Data analysis was done using Cronbach’s Alpha, frequency analysis, descriptive analysis, Pearson correlation matrix and one sample t-test. The t-test was used to accept/reject the hypotheses, through testing the average means of single sample based in the value of the scale midpoint. The Pearson correlation coefficient test results show that there is a significant positive relationship between the variables. It was recommended among others that Producers of essential goods/ services can improve their product perception in the minds of consumers by increasing product price as higher prices indicate product quality, decreasing offer which is reflected by having the product unavailable in the market, which will indicate the rarity of the product thus leading to the increase in its value and quality. In addition to limited distribution, which means rendering the product unavailable on the wide scale, and narrow advertising which reduces the incidence of the customer remembering the product; all these factors lead to increasing product value in the customer’s perception.
| 4 |
Author(s):
Siphiwe Plaxcedes Mandina, Nicholas Nyasha Matsika.
Page No : 45-71
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Consumer Readiness to Adopt Self-Service Life Assurance Products
Abstract
Guided by the Technology Readiness Index (TRI) framework, current study makes an assessment of consumer readiness to adopt self-service technologies in order to determine individual factors influencing their adoption. The research thus sought to determine the relationship between drivers and inhibitors of technology usage intention. The study targeted active individual and employer subsidised subscribers of a local major funeral service provider. Findings show a significant linear positive relationship between consumer optimism and usage intention, consumer innovativeness and usage intention, whilst there was a strong negative linear relationship between consumer insecurity and usage intention and consumer discomfort and usage intention. It was thus established that increased investment in consumer optimism and innovativeness will promote usage intentions whilst increase investment to reduce consumer insecurity and discomfort will promote usage intentions for self-service life assurance products. Contribution: This research contributes to the body of knowledge by identifying individual personality traits influencing consumer technology adoption in a funeral assurance service setting. This is particularly relevant for developing countries who are still in their infancy concerning technology adoption. Based on findings, service marketers will be able to segment customers based on their personality traits and propensity to adopt new technologies.
| 5 |
Author(s):
Arimie Biebele Emmanuel, Kenneth C. Adiele (Ph.D).
Page No : 72-86
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Supplier Integration and Competitiveness of Oil and Gas Exploration and Production Companies in the Niger Delta Region of Nigeria
Abstract
This study investigated the relationship between Supplier Integration and Competitiveness of oil and gas exploration and production companies in the Niger Delta region of Nigeria. This study employed the survey research design, and both primary and secondary data were collection and utilized. The population of the study was forty-five (45) functional oil and gas exploration and production companies operating in the Niger Delta region as contained in the Directorate of Petroleum Resources (DPR) annual report, 2017. Three (3) structured copies of questionnaire were randomly distributed per company to three (3) heads of departments/managers which comprised; procurement, logistics, warehouse/store, marketing/commercial, and Production and exploration managers, out of which, a total of 112 copies of the questionnaire were retrieved and used for analysis. Thereafter, data were collated and analyzed using SPSS version 21.0 and the Spearman Rank correlation statistics was used to test the relationship between the predictor and criterion variable. The findings revealed that supplier integration has a positive and significant relationship with competitiveness in the oil and gas exploration and production companies in the Niger Delta. We therefore conclude that supplier integration affects competitiveness of oil and gas exploration and production companies in the Niger Delta region of Nigeria and the authors therefore recommended that the management of oil and gas exploration and production companies in the Niger Delta region should improve on their Supplier Integration strategies in other to continuously improve their supply chain performance, remain consistently competitive and ultimately outwit their competitors.
| 6 |
Author(s):
Ojukwu Henry Sonna, Nwankwo Catherine Nkechi.
Page No : 87-109
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Effect of Job-Related Stress on Lecturers’ Performance in Nigeria’s Federal Universities in South – East Region
Abstract
Stress has always been an issue that tends to hinder the performance of employee in organizations as well as educational institutions. For this singular reason, this study was set-out to ascertain how this burning issue can be dealt with so that employee can work at their maximum best and not be burned-out. In order to achieve this, three specific objectives guided the study. The first was to explore the nature of relationship that exist between management support and lecturer – student relations; the second was to ascertain the extent to which work – home interface affects lecturers organizing skills; and finally was to determine the extent to which work overload affects lecturers course knowledge. The study employed a descriptive survey design; a structured questionnaire was used in the collection of data. Pearson’s product moment correlations coefficient was used to analyze the data with the use of SPSS version 22. The targeted population comprised of 4072 academic staff in the five Federal Universities in South-East Nigeria. The sample stood at 364 after applying Taro Yamane’s formula. The findings revealed that a significant positive relationship exists between management support and lecturer – student relations; Work-home interface affects lecturers’ organizing skill; and finally, that Work- overload does not affect lecturers’ course knowledge. The study therefore recommended thus: creation of a periodic interactive forum with academic staff; understanding the role of perception; encouraging flexibility, and finally, conducting a regular task audit on all Academic staff to ascertain the weight of work load each is carrying. The study concluded that job stress variables such as management support and work-home interface negatively affects lecturer-student relations and lecturers’ organizing skills respectively, while work-overload does not negatively affects lecturers’ course knowledge.
