Problems and Prospects of Marketing
International Journal of Business and Management
September, 2009
Problems and Prospects of Marketing in Developing Economies: The Nigerian Experience
Sunday O. E. Ewah & Alex B. Ekeng Department of Business Administration, Cross River University of Technology Ogoja Campus, Nigeria Tel: 80-5901-4300 Abstract The study takes a holistic view of some of the problems facing marketing in developing economies, such as low marketing education, preferences for foreign products and low patronage for non-essential products, high cost of production, inadequate infrastructures. Others are few competitive opportunities, excessive government regulations and interference, political instability and civil unrest. Despite these problems, there are prospects for improvement in the nearest future based on the high growing population of most developing countries such as Nigeria large unexplored markets, attractive government incentives, growing affluence, to mention but a few. Therefore, it is concluded that developing countries such as Nigeria must put their arts together and overcome these few difficulties in order to exploit the marketing opportunities that are abound in their various domains. Keywords: Marketing, Developing economies, Problems, Prospects and developed economies 1. Introduction Marketing is an evolving and dynamic discipline that cuts across every spectrum of life. This explains why contemporary societies are now involved in one form of marketing activity or the other. The recent advancement in technology, has aided the free flow of goods and services as well as information amongst businesses and institutions, thereby turning the marketing environment into a global village (Ewah, 2007). For the purpose of this article, marketing is defined as the performance of both business and non business activities for the satisfaction of humanity and society’s well being through judicious exchange processes. On a general perspective Kotler and Armstrong (2001) described
September, 2009
Problems and Prospects of Marketing in Developing Economies: The Nigerian Experience
Sunday O. E. Ewah & Alex B. Ekeng Department of Business Administration, Cross River University of Technology Ogoja Campus, Nigeria Tel: 80-5901-4300 Abstract The study takes a holistic view of some of the problems facing marketing in developing economies, such as low marketing education, preferences for foreign products and low patronage for non-essential products, high cost of production, inadequate infrastructures. Others are few competitive opportunities, excessive government regulations and interference, political instability and civil unrest. Despite these problems, there are prospects for improvement in the nearest future based on the high growing population of most developing countries such as Nigeria large unexplored markets, attractive government incentives, growing affluence, to mention but a few. Therefore, it is concluded that developing countries such as Nigeria must put their arts together and overcome these few difficulties in order to exploit the marketing opportunities that are abound in their various domains. Keywords: Marketing, Developing economies, Problems, Prospects and developed economies 1. Introduction Marketing is an evolving and dynamic discipline that cuts across every spectrum of life. This explains why contemporary societies are now involved in one form of marketing activity or the other. The recent advancement in technology, has aided the free flow of goods and services as well as information amongst businesses and institutions, thereby turning the marketing environment into a global village (Ewah, 2007). For the purpose of this article, marketing is defined as the performance of both business and non business activities for the satisfaction of humanity and society’s well being through judicious exchange processes. On a general perspective Kotler and Armstrong (2001) described
References: September, 2009 Services 1990 to 1999 2.8 1.9 2.4 3.5 5.8 8.0 Severely indebted Moderately indebted Less indebted Moderately indebted Les indebted Moderately indebted Source: World Bank 2001, and World Development Indicators, 2001.