Challenges and Prospects of Marketing

 Problems and Prospects of Marketing Essay

Intercontinental Journal of Business and Management

September, 2009

Concerns and Prospects of Marketing in Developing Economies: The Nigerian Experience Sunday O. Elizabeth. Ewah & Alex W. Ekeng Section of Business Administration, Get across River University of Technology Ogoja Campus, Nigeria Tel: 80-5901-4300 Abstract The study requires a holistic watch of some of the problems facing marketing in developing economies, such as low marketing education, preferences to get foreign products and low pilier for nonessential products, high cost of production, limited infrastructures. Others are few competitive chances, excessive federal government regulations and interference, politics instability and civil unrest. Despite these types of problems, you will find prospects pertaining to improvement inside the nearest long term based on the high growing population on most developing countries such as Nigeria large unexplored markets, attractive government offers, growing wealth, to mention nevertheless a few. Consequently , it is concluded that developing countries such as Nigeria must put their disciplines together and overcome these types of few issues in order to make use of the advertising opportunities which can be abound within their various websites. Keywords: Marketing, Developing economies, Problems, Leads and designed economies 1 ) Introduction Promoting is a great evolving and dynamic willpower that reduces across every single spectrum of life. This explains so why contemporary societies are now associated with one form of marketing activity or the additional. The latest advancement in technology, features aided the free flow of goods and services and also information amongst businesses and institutions, thus turning the marketing environment into a global village (Ewah, 2007). When it comes to this article, advertising is defined as the performance of both organization and non business actions for the satisfaction of humanity and society's health through careful exchange techniques. On a general perspective Kotler and Armstrong (2001) explained marketing like a social and managerial method whereby individuals and organizations obtain the actual need and want through creating and exchanging products and value with others. Marketing is intricately linked with our economy of virtually all nations of the world. It is the significant factor, specially in developed economies responsible for the wealth of countries and the means of resuscitation during economic depression. To get the created countries as a whole, marketing encounter has happened as part of the evolutionary cultural process and also progress of these nations. Therefore functional problems are greatly handled as they had developed, with obtainable resource means at the material time. However the developing countries are obviously operating in an entirely different framework today. The changed many things. Many instances in the business globe now seem to be affected by standard but chimerical factors, to ensure that operating in these situations figure to operating under conditions of fait accompli. Countries like U. S. A, Japan, UK, Germany, Portugal, Switzerland and Belgium include tremendously gained from the performance of their marketing activities, which have really helped to boost their particular economies and contribute to the GNP. But for the majority of developing countries, (including Nigeria) the circumstance and the organization climate have never been also favourable, because of some attendant problems, just like poverty, fragmented markets, weak investment culture, prevalence of sub-standard community products, as well as the unwillingness of the majority of manufacturers and businesses to drink, slurp ethical marketing practices. These problems help to make it difficult to get marketing to grow and prosper in developing economies. Consequently the economy of most growing countries is not better off due to poor advancement marketing while the bedrock for increasing the economical prospect of recent economies. However , the economy of developing countries to a hugely dictates the direction and...

References: September, 2009

Companies 1990 to 1999 installment payments on your 8 1 ) 9 2 . 4 a few. 5 5. 8 almost 8. 0

Seriously indebted Reasonably indebted Significantly less indebted Reasonably indebted Les indebted Relatively indebted

Origin: World Lender 2001, and World Development Indicators, 2001.

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