ECONOMIC POLICY MEASURES ON MARKETING AND MARKETING PRACTICES AND THEIR IMPLICATION IN THE NIGERIAN ECONOMY.
ECONOMIC POLICY MEASURES ON MARKETING AND MARKETING PRACTICES AND THEIR IMPLICATION IN THE NIGERIAN ECONOMY.
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Date
1998-08
Authors
GALADANCHI, MAHMOOD SANI
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Abstract
iv
ABSTRACT
Before a nation as a whole could benefit from the wealth and the inventions
which came to it as a result of the industrial revolution, it was necessary for
people to realise that the sharing of opportunity is more important than the
success of the individual. Therefore, every government must ensure that the
resources of a nation are identified, monitored, regulated and harnessed
such that whatever benefits thereof are shared by the populace.
Development is crucial to a nation because it forms the live-wire on which
the society depends. And the economic aspect of development forms the
"never-centre" that supplies the necessary "energy" on which other facet of
development depend for sustenance. Therefore, any sound economic
development would depend largely on how effectively and efficiently the
society's human and material resources are managed. These resources
(material) are no exclusive preserve of individuals or groups of individuals,
but of the populace. Nevertheless, individuals and groups may be allowed
to harness these resources to meet the society's material needs and wants
while they make profit.
v
Ordinarily, these individuals and groups, if left on their own would engage in
over exploitation of the resources and the consumers to the detriment of the
macro-society. This tendency makes it mandatory on government to
monitor and regulate the different economic activities and practices to
ensure and guarantee profit to producers and maximum benefits to the
consumers and the society in general. The government does this through a
bunch of economic policy measures and guidelines. These measures and
guidelines are reviewed occasionally depending on the trends in the global
and national economies. Thus in 1982, the Shagari administration
introduced the austerity measures geared toward a fast economic recovery.
These measures were necessitated when the glut in the world oil market in
1981 mirrored the shortcomings of the economic policies being pursued by
the government and the in preparedness of government to tackle realistically
a fundamental economic problem. The measures were later replaced by the
Babangida administration with the SAP: Structural Adjustment Programme.
The SAP measures made the Nigerian economic environment very
turbulent and consequently affected firms and their marketing and marketing
programmes.
vi
This development occasioned high inflationary trends, full or partial closure
of firms, capacity under utilisation, high cost of capital and production,
diminishing purchasing power, low demand, and the use of both aggressive
and dynamic marketing programmes and activities by producers to attract
consumers to start purchasing their products. In other words, the measures
are both opportunities and threats to firms, depending on their resources and
ability to sense and respond to changes as they occur in the operation
environment. This requires that a producer who wants to remain in
operation as a going concern should constantly monitor the operating
environment and respond accordingly.
Description
AHMADU BELLO UNIVERSITY ZARIA (CONGO)
MBA FINAL YEAR PROJECT.
Keywords
ECONOMIC,, POLICY,, MEASURES,, MARKETING,, MARKETING,, PRACTICES,, IMPLICATION,, NIGERIAN,, ECONOMY,, CASE,, STUDY,, FOOD,, BEVERAGES,, INDUSTRY.