PROBLEMS AND PROSPECTS OF MARKETING IN SMALL-SCALE BUSINESS IN NIGERIA
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
After about a decade and a half of adopting an industrialization strategy based on large-scale industries, mostly of the assembly type, which were set up, tended to be capital intensive and in appropriate, given the country resources endowment their capital equipment and techaical 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 this 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.
The aqua rapha(god’s healing water) was established on 15th December 2004, by it’s sole owner Rev. father Ejike Mbaka.
His ability to generate money out of little or nothing and his interest in small business as while made him engage in small business partnership dealing on the distribution of house hold goods.
The owner made the feasibility study. the report is not too far from what becomes the reality.
The feasibility study was good only that there were few under and over estimations due to the on- going inflationary trend in the country and reforms in the economic system of the country.
The factory is located at 9th mile corner opposite Ama Brewearer plc in Enugu state. The factory is located in this area because if it’s proximity to the source of the raw materials used in the productions. The major raw materials used in the production of sachet/ packaged water are sourced locally. The manufacture employs the services of different professionals in manufacturing of the packaged water.
These professionals from different field/department work together to ensure the success of desired quantities that will ensure the company’s targets, objectives and goals. The purchasing department plays its role by getting all the necessary requirements for the production.
The factory men will organize the raw material and use it in production of complete products. After production, they will communicate stores and store will pack those products and communicate marketing for sales there by realizing funds, the finance department will keep for the enhancements of the company. the programme could have taken long before how, but the company has a serious financial constraint. The availability and cheapness of the major raw materials also affected the choice of products.
Aqua Rapha investment company produces packaged water, it’s product capacity is at minimum of eight hundred and fifty (850) bags that contains (20) sachets, per day. Given an effective annual working period of 240 days the output is modesty placed at 203, 760(two hundred and three thousand, seven hundred and sixty bags per year)
The management of aqua rapha investment company focus attention on the human side of the enterprise, in other words the behavioral aspects of management is primus. The proprietor of aqua rapha investments company believes that by rewarding workers adequately they tend to work harder and put in their best to achieve the organization set goals.
1.2 STATEMENT OF PROBLEMS
For the period under review, the country’s economic objectives were centered on reducing the level of important goods uand 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.
1.3 OBJECTIVE OF THE STUDY
The objectives of this study are:
1) To identify and examine the problems militating against the effective operations of small-scale industries via-the case of company in areas of finance, marketing, technical etc.
2) To identify the prospects available to the case company.
3) And to suggest ways or solutions of solving these identified problems.
1.4 STATEMENT OF HYPOTHESIS
Hypothesis I
Ho: Aqua Rapha (God’s Healing Water) does not practice marketing concept.
Hi: Aqua Rapha Investment Company practices marketing concept.
Hypothesis 2:
Ho: Aqua Rapha Investment Company does not carryout marketing research.
Hi: Aqua Rapha carryout marketing research.
Hypothesis 3:
Ho: Consumers are not satisfied with the quality of product produced by Aqua Rapha (God’s Healing Water).
Hi: Consumers are satisfied with the quality of product produced by Aqua Rapha (God’s Healing Water).
1.5 SIGNIFICANCE OF THE STUDY
The study is very timely, especially today that the nationa is shriving towards the better economic development and growth. This study will be of immense benefits to both the operating and potential because it will give a thorough insight into operations. This is aimed at patting operative, so that those concerned will get to know what the business is all about. In the same view, different categories of customers will be put into a position adjust their irrational behaviours. The work unravels the technicians of the game, and to ensure success of the operation by discussing things like customers workers relationship, marketing strategies, behaviour in the Aqua Repha Company. The study should create the long required awareness in the business because it will emigrate on its potential and how best to top them optionally and also appreciate the important role it plays in the society and national economy.
1.6 SCOPE OF THE STUDY
The research for this study would have been national wide but due to time and other constraints. It was limited to Aqua Rapha, God’s Healing Water in Enugu.
1.7 DEFINITION OF TERMS
The following terms used in this study should be taken to mean the following:
Marketing: Marketing is defined as all-important set of creative human activities aimed at identifying; anticipating and satisfying human needs and wants through exchange as efficiently and as effectively as possible.
Marketing is located in the realm of human activities; marketing needs the degree of intelligence possessed only by human being. Two monkeys cannot market. It is directed at facilitating and consummating exchange, it covers both transaction and exchange relationships. The transaction relationship is a short run affair (transaction is the unit of measurement of exchanged) whereas the exchange relationship is a more durable and continuous relationship.
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