The role of marketing in economic development emerald. Branding itself as the giant of africa, the country now needs to prove its potential by raising its. Historical development of marketing business plan nigeria. Cocoa marketing board was set up in 1947, while the groundnut, cotton and palm produce marketing boards were. Download undergraduate projects topics and materials accounting, economics, education. The history of marketing extends back in time to the most primitive societies, for it can be argued that some activities that are today regarded as small fractions of marketing date back to centuries before the birth of christ. Problems and prospects of institutionalization in the nigerian university.
Finalizes that marketing is inextricably linked with economic development as this is generally regarded as. This research work covers the period of 20152016, and does not go beyond the topic. Pdf foreword many nigerian authors in the field of marketing have, for long, tended to. The role of marketing in nigeria development free essays.
Bursary department, ekiti state university, ado ekiti, nigeria abstract the paper examined the role of stock market on nigerias economic development from 1980 to 2010 which cover the market performance and economic growth in nigeria. Pdf the role of financial markets in economic growth. As the historical record shows, the developed countries of the world broke the vicious cycle of poverty by industrializing, rather than focusing on agricultural or the production of national resources. Economic development involves development of human capital, increasing the literacy ratio, improve important infrastructure, improvement of health and safety, and other areas that aims at increasing the general welfare of the citizens. Role of ecommerce in the economic development of nigeria. Impact of marketing strategy on business performance a study.
The major aim of marketing is to bring the knowledge of products to their prospective customers in order to increase sales and make profit for the companies. Role of agriculture in economic growth development. The nigerian film industry 6 the development of oil activities, the lack of maintenance and further investment led to a growing infrastructure gap. A series of world oil price increases from 1973 produced rapid economic growth in transportation, construction, manufacturing, and government services. The role of the marketing board in nigeria, 19471986. Jul, 2018 the role of marketing cooperative in economic development of nigeria a case study of rice marketing cooperative in orodo, mbaitolu local government area imo state abstract. The role of commercial bank in economic development of nigeria, largest undergraduate projects repository, research works and materials. Marketing techniques include choosing target markets through market analysis and market segmentation, as well as understanding consumer behavior and advertising a products value to the customer.
Marketing discovers needs and wants of society, produces the goods and services according to these needs creates demand for these goods and services. Economic development in nigeria, although has been rocked back and forth by various political, sociocultural, financial and infrastructural setbacks, the economic development of a country like nigeria cant be said to have totally been where it used to be, or to have back tracked as some people insinuate. However, existing literature on the smes financing and economic development provide a contrasting results. The role of accountancy in economic development 3 sustainability is the theme of the unctad xiii ministerial conference. The study investigated the role of small scale enterprises in the economic development of nigeria with specific reference to small scale operators in ijebuode local government area of ogun state. Get free research paper on role of insurance company in the economic development of ghana project topics and materials in nigeria. Discusses the meaning of economic development and economic growth. Therefore, wider online marketing is created through ecommerce which will in turn be in overall advantage of economic growth and development. New jobs are the lifeblood of any thriving region and can ensure economic health and prosperity for years to come. At the beginning of the 21st century the task of reexamining the role of the state in economic development is becoming increasingly important for african. In achieving this, such business must embrace business proposition ever invented in human history. Nigeria could be a critical role towards achieving sustainable economic growth and development.
Mainly my paper focussed on the relationship between economic development and international trade, disadvantages of international trade also discussed. Education provides a foundation for development, the groundwork on which much of our economic and social well being is built. Micro, small and medium enterprises msmes and their. Based on results and findings, it is therefore texila international journal of management volume 4, issue 1. This paper is intended to stimulate debate about a potential roles for market based. Marketing and trade play vital roles in the economic growth and overall development of a nation. The role of e marketing in economic development in nigeria. Market based economic growth is a critical element in medium to long term. The role of cooperative societies in economic development.
Discusses the meaning of economic development and economic growth, modernization, distributive justice and socio. Economic development, as a public sector term, is the process by which the economic wellbeing and quality of life of a nation, region or local community are improved according to targeted goals and objectives the term has been used frequently in the 20th and 21st centuries, but the concept has existed in the west for centuries. The importance, effect, causes, relationship, comparison, history, role, solutions are discussed. The importance and role of small and mediumsized businesses 335 the smes sector is the main source of forming the middle class with a decisive role in maintaining the socialpolitical stability in a country. This study investigated the role of agriculture to nigerias economic growth and development. The role of government in supporting entrepreneurship. Economic growth and development of nigeria economics essay.
Economic development, as a public sector term, is the process by which the economic wellbeing and quality of life of a nation, region or local community are improved according to targeted goals and objectives. The role of cooperative societies in economic development the problem is that many people do not know much about cooperative, its mechanisms and role in economic development, and how it is considered in the world as a third force, an alternative and. The importance and role of small and mediumsized businesses. The main purpose of this paper is to show the role of education in economic development and the effect of education on labour productivity, poverty, trade, technology, health, income distribution and family structure. Processes for economic growth, food security and poverty reduction market based economic growth is a critical element in medium to long term poverty reduction and food security. The study was carried out at ilorin, capital city of kwara state, nigeria. The role of small and large businesses in economic.
The role of cooperative societies in economic development the problem is that many people do not know much about cooperative, its mechanisms and role in economic development, and how it is considered in the world as a third force, an alternative and countervailing power to both big business and big government. Get free research paper on the role of small scale industries in the economic development of nigeria project topics and materials in nigeria. Marketing comprises of advertising, sales, distribution, branding and many more activities. International trade is an activity of strategies importance in the development process of a developing economy. Agriculture is an important sector in the developing world.
They note that the situation has been of great concern to the government, citizenry, operators, and practitioners. The role of small and large businesses in economic development by kelly edmiston i ncreasingly, economic development experts are abandoning traditional approaches to economic development that rely on recruiting large enterprises with tax breaks, financial incentives, and other inducements. Determines that the evolution and scope of marketing and its relevance and value in the development process are a stimulus to economic development. Role of marketing on economic development bizfluent. The nigeria cocoa marketing board was the first board that was setup in 1947. This study, sets to investigate the role of small scale enterprise on the economic development in nigeria. The role of extension in agricultural development by ifeoma irohibe department of agricultural extension, university of nigeria, nsukka agriculture is the science of cultivating crops and rearing animals for the benefit of man and also includes other processes such as processing, storage and marketing of agricultural produce. This fact is possible because the distribution of economical power by the system of. The role of marketing cooperative in economic development of nigeria a case study of rice marketing cooperative in orodo, mbaitolu local government area imo state abstract. As we all know, for any economy to grow, the business in such economy must grow.
Since the late 1960s it has been based primarily on the petroleum industry. As timmer 2005 noted, part of the controversy of the role of agriculture in development stems from the fact that structural transformation is a general. Entrepreneurship and economic development in nigeria. The role of agriculture in the economic development of nigeria omorogbe omorogiuwa jelena zivkovic fatima ademoh american university of nigeria, nigeria abstract nigeria is on its way to modern development. This study assessed the impact of entrepreneurship on economic development in nigeria. The role of marketing in economic development of developing. Economic development can be referred to as the quantitative and qualitative changes in an existing economy. In general, state intervention has been reduced, notably with respect to. A multivariate regression approach was employed to. The role of entrepreneurship development in nigeria economy, a case study of the hungry man restaurant wuse ii abuja. The causal dynamics between agriculture and economic growth is an empirical question worthy of further investigation. We were researching and advising on environmental reporting in 1990, long before.
The role of stock market on nigerias economic development osho, augustine ejededawe ph. The major roles of marketing and trade in the national economy can be thought of in terms of. The role of marketing in economic development emerald insight. So the development of marketing automatically gives rise to a need for people to work in several areas of marketing. These challenges could be as a result of perceived ineffective marketing strategy. Development strategy for nigeria moses akpobasah at a 2day nigeria meeting organized by the overseas development institute, london, 1617 june 2004 contact. The study aims at examine the role of electronic commerce in promoting the development of emerging online market firm. Msmes comprise a major share of total private sector entities in both developed and developing countries. The introduction part of this study is contained in chapter one, extensively dealt with the purpose of the study.
In a poor economy this involves two closely related processes. As an integral function of business, marketing is also key part of economic development. The role of marketing cooperative in economic development. Among such economic policies was the establishment of the marketing board system. The nigerian economy is one of the largest in africa. Introductionthere are many definitions of the concept of marketing and it will be an exercise in futility in trying to have a universally accepted single definition of the concept of marketing here. Agricultural production and economic growth in nigeria. Agricultural marketing in developing countries economic reforms have had sweeping impacts on agricultural markets in developing countries. After the second world war, the colonial government initiated many economic policies in order to resuscitate the economy of britain and to develop the british african territories of which nigeria was one. This is approved for students in accountancy, business, computer science, economics, engineering, arts.
Industrialization and economic development owlcation. Economic development reference guide acknowledgements verizon verizons mission is to open doors for economic development and to build relationships and partnerships that help create and retain jobs in verizon communities. It contributes to economic growth and development as well as a major employer to majority of the people of subsaharan africa including nigeria, especially those in the rural areas. The role of marketing in economic development researchgate. An international perspective maimunah ismail abstract corporate social responsibility csr refers to strategies corporations or firms conduct their business in a way that is ethical, society friendly and beneficial to community in terms of development. Taiwo, ayodeji and yusuf, 2012 nevertheless, msme can be perceived as a tool for economic development, even though variety of challenges seems to have a negative impact that constraint msmes from playing the vital role of stimulating economic development, but they provide employment opportunities in. Problems and prospects of marketing in developing economies. Acca is widely known for its longstanding commitment in this area. The contribution of marketing to national development global. The main objectives of every business in nigeria are survival, profits and growth. Having chosen this topic to write on, my objectives is to find out the roles played by our financial institutions in our present economic situation whether they being followed. The role of marketing in economic development in africatanzania. Every enterprise plays important role in the advancement of ones society. Early classical theory viewed economic development as a growth process requiring the systematic reallocation of factors of production.
Mar 12, 2018 industrialization plays a vital role in the economic development of underdeveloped countries. Rural development is concerned with the improvement and transformation of social, mental, economic, institutional and environmental conditions of the low income rural dwellers through the 3 the role of local government in rural development issues jide ibietan. Role of transportation in the economic development of nigeria. Pdf marketing in developing countries researchgate. According to the marketing concept according to the marketing. Economic development refers to the process in which a region improves the wellbeing of its citizens. Role of agriculture in the economic development of a country. Consideration of the role the sector plays as the way of life in the developing countries like nigeria and the critical role expected of the agricultural.
Posits that the criteria or objectives by which development is measured have also been broadened. D department of political science, benue state university, makurdi abstract the paper examines rural or community development in nigeria with emphasis on the institutions, agencies, policies and strategies employed to bring about the much needed. The role of marketbased economic development in strengthening. Importance of marketing for the economic development of a country. The role of marketing cooperative in economic development of.
The main objective of the study is to investigate the impact of ecommerce on emerging market. Role of transportation in the economic development of nigeria by oguike, matthew. Role of financial system in economic development of a country. The small and medium scale enterprises smes dominate the real sector and play roles in the economic development of countries around the world. The role of stock market on nigerias economic development. Many factors play a role in economic development, including the economic growth of the regions businesses. For example, machines can be built in japan and used in nigeria, but a marketing plan or system adequate for japanese market will most often be unusable in. This project looked into the role of marketing cooperative in economics development of nigeria a case study of rice marketing cooperative in onodo, mbaitolu.
Determinants of economic growth in nigeria kazeem b. Ajide1 this paper investigates the role of frazer economic freedom index on fdigrowth relationship over the period spanning 1980 through 2010 using annual time series data. Nigeria also provides a good example of how heavy state involvement can bring. In every economy, marketing activities are essential for economic development. Importance of marketing for the economic development of a. A series of world oil price increases from 1973 produced rapid economic growth in transportation, construction. Market based economic growth is a critical element in medium to long term poverty. Economic development is generally understood to mean an increase in national. Impact of marketing strategy on business performance a.