ABSTRACT
This research work is mainly on the use of World Wide Web in the practice or marketing, it challenge for Nigeria in the 21st century. The research study used 3 selected firms in Umuahia, Abia Metropolis as case study. The research was to find out if the use of World Wide Web as a marketing tool has increased rapidly in this 21st century, its benefits and various challenges or barriers that holds back future development of web development of web marketing especially in our country Nigeria. The survey research used structured questionnaire to elicit data from the selected firms in Umuahia, Abia State, Nigeria. A reliable Cronbach’s Alpha was used to determine the reliability of the questionnaire the data generated from the respondents (60) were analysed using Spearman’s correlation coefficient and multiple regression analysis, while the hypothesis drawn were tested. The findings gotten showed that paucity in knowledge of and the applicability of web marketing principles has significant negative effect on the adoption of the principles of disintermediation on the practice of marketing in Nigeria. The low level of technological growth and development has significant effect as (challenge) on and to the country’s maturity in the adoption of disintermediation. Therefore I recommend that efforts should be made at educating specific target market on the use of dis-intermediation market structure. The manufacturer branch and sales offices dis-intermediation strategy should be managed in line with the psychological pattern of living of the different localities of the larger society so that the open stall incentives that motivate consumers to patronage and loyalty will not be considered non-existent consumers in the e-marketing system. Production capacities of manufacturing firms should be expanded and enhanced based on the employment of those that are likely to be rendered unemployed (current members of the market intermediary structure) based on the adoption of dis-intermediation (web marketing). Reduction in cost of production has the ability of reducing price of products. This will increase the real income of consumers hence increase their ability to acquire market offer based on e-marketing principles.
TABLE OF CONTENTS
Title page i
Certification ii
Dedication iii
Acknowledgement iv
Table of content v
Abstract vii
CHAPTER ONE
1.0
Introduction 2
1.1 Background to the study 2
1.2 Statement of problem 3
1.3 Objective of the study 4
1.4 Research questions 4
1.5 Research hypotheses 5
1.6 Significance of the study 5
1.7 Definition of terms 6
1. 8 Scope of study 7
CHAPTER TWO
2.0 Literature review 8
2.1 Conceptual
framework 8
2.1.1 The internet system 8
2.1.2 E-marketing
9
2.1.3 The World Wide Web (www) 10
2.1.4 What is dis-intermediation 11
2.1.5 Future and challenges of e-marketing 11
2.1.6 E-marketing public issues: fraud, deceit
and invasion 15
2.17 E-marketing and corporate
profitability
16
2.18 Designing a website and types of websites 16
2.19 Benefits of wide web to buyers and sellers
17
2.2 Theoretical framework 18
2.2.1 Network theory
18
2.2.2 Collective intelligence theory
19
2.2.3 Generational theory
19
2.2.4 Game theory
20
2.2.5 New marketing theory
20
2.3 Empirical framework on e-marketing and
its performances 21
2.3.1 Government regulation of marketing practices
23
2.3.2 Dis-Intermediation in the developed
countries
25
2.3.3 The wide web in the practice of
marketing 26
2.4 Summary of literature 27
CHAPTER
THREE
3.0 Research methodology
29
3.0 Research design 29
3.1 Area of study 29
3.2 Method of data collection 30
3.3 Population of the study 30
3.4 Sample and sampling technique 31
3.5 Method of data analysis 31
3.6 Model specification 31
3.7 Validity and reliability of the
instrument 33
CHAPTER FOUR
4.1 Presentation, interpretation and analysis
of data 34
CHAPTER FIVE
5.0 Summary and recommendations 45
5.1 Discussion and findings 45
5.2 Conclusion 48
5.3 Recommendation 48
References
Appendix
Questionnaire
CHAPTER ONE
1.0 INTRODUCTION
1.1 Background
Marketing activities are
as old as man has lived dating back from the era of trade by barter to present
day marketing practice. The development of marketing as business activities
which started many years ago. The history behind the development makes us
understand that there is an era where marketing activities were less regarded,
forgetting it is the hallmark of every business growth this development has
reached. The wide web in the practice of marketing is an aspect of electronic
universe in which messages and information streak across the continent or
around the world at the speed of light. It’s a place where you can find facts, meet
customers, transact business, receives customer complaints and handle them,
meet thousands of their needs without ever leaving your home or office.
The terms E-marketing, web
marketing, cyber marketing online marketing and internet marketing are used interchangeable,
in this work it is considered synonymous (Obasi, Oteh & Nwachukwu, 2015).Marketing
has gone beyond the face of walking under the sun day by day in search of
customers and their needs to meet. Therefore the idea of web marketing set in,
where too many things can be done not under the sun. The introduction of this
aspect of marketing system is a realm of myriad of opportunities destined to
forever alter the way marketing transactions are done. In its simplest
understanding it refers to the application of marketing principles and practice
through the use of electronic plat forms and that is specifically the internet.
By such definition web
marketing encompasses of all the activities a business conducts through the
world wide with the aim of attracting new businesses, retaining current
businesses with their customers and developing its brand loyalty and identity.
It’s also the fastest and services or other information relevant to the
consumer.
Some web marketing
mechanisms includes telephone, direct mail, catalogs, telemarked interactive
TV, kiosks, websites and mobile device. These channels/mechanisms are Means [Avenue]
through which organizations can connect and build a long lasting relationship
with their customers. Web marketing has continued to experience a boom in place
like Nigeria due to the part it plays in cost reduction and other devices in the
traditional marketing system. Goods & service passes through several
channels until it goes to the final consumer but these market channels have
been disintermediated by the guns of the internet (Obasi, Oteh & Nwachukwu,
2015).
The World Wide Web is
arguable richer as a medium than some traditional media. The wide web is an
efficient tool of dis-intermediation, that is why the two words (the World Wide
Web and dis-intermediation) are used inter-changeably in this research work. Managing
business in the new digital era calls for a new model for marketing strategy
and practice. The 21st century corporations must adapt itself to
management through the web even though there are series of challenges facing
the system in a developing country like Nigeria,this they must do inorder not
to be left out in the fast growing technological advancement of the country.
1.2 STATEMENT OF
PROBLEM
Globally, nations are
achieving development based on market growth and expansion using the World Wide
Web (WWW). This has great impact on the standard of living and infrastructural
base of these nation. However in Nigeria this development is yet to be
significant given the poor level of the use of the world wide web[WWW].This
work therefore is aimed at determining the various factors that challenges the
adoption of the world wide web [WWW] in Nigeria.
1.3 OBJECTIVE OF THE STUDY
The
broad objective of this work is to determine the various factors that
challenges the use worldwideweb (www) in the practice of marketing activities
while the specific objectives include to;
1.
To ascertain the level or degree of paucity of knowledge of
and the applicability of web marketing principles in the marketing practices in
Nigeria.
2.
To find a suitable solution to the low and poor rate of
technological growth and development in Nigeria which make consumer goods
markets in Nigeria un matured enough to adopt the world wide web[WWW]
3.
To determine the impact of the adoption of the world wide
web[www] in the practice of marketing in most developing countries like Nigeria
on marketing intermediation in terms of cost/price of market offers and sales
volume of consumer products.
4.
To keep customers updated on new products existence and
changes to business services through the web
1.4 RESEARCH
QUESTIONS
The
research questions of this study are formulated based on the research problems
stated in 1.2, they include:
- Does paucity of knowledge
of and the applicability of web marketing principles have significant negative
impact on the adoption of dis-intermediation practice in Nigeria.
- With the low and poor rate
of technological growth and development in Nigeria; is the Nigeria market
especially for consumer goods mature enough to adopt dis-intermediation?
- Does the adoption of the
wide web in the practice of marketing in most developing countries like Nigeria
have an impact on the middlemen, cost/price of market offers and sales volume
of consumer products?
1.5 RESEACH
HYPOTHESIS
This
study in an effort at actualizing its objectives built its variables of
analysis on this hypothesis
Ho1: Paucity of knowledge
of and the applicability of web marketing principles do not have significant
negative impact on the adoption of dis-intermediation in the practice of
marketing in Nigeria.
Ho2: The low and poor rate
of technological growth and development in Nigeria do not have any impact on
the Nigerian market’s maturity in adopting dis-intermediation.
Ho3: The adoption of the
web in the practice of marketing in most developing countries like Nigeria do
not have an impact on the middlemen, cost/prices of market offers and the sales
volume of consumer products.
1.6 SIGNIFICANCE OF THE STUDY
Globally,
especially in the developed economies, many firms and industries are dropping
the traditional intermediaries and are selling directly to final buyers, thus
eliminating retailers from their marketing channels. Kotler and Armstrong
(2006). This dis-intermediation is a function of growth and development in the
field of web-marketing. Contrary to what is obtainable in the developed
economies, Nigeria marketing system is analogy rather than digital technology
based; hence the maximization of the benefits of dis-intermediation may remain
elusive. This work as a study of the consequences of dis-intermediation in the
marketing of consumer product in developing economy of Nigeria is built to
supplying input for policy decision making on dis-intermediation for the
purpose of adding value to market offer in the creation and sustenance of consumers
delight. This work is important as an attempt at bridging the gap between the
developed and developing economies in the adoption of the policy of
dis-intermediation. It will also offer solution to the dearth of literature in
this field of study.
1.7 DEFINITION
OF TERMS
There
are many concepts and terms used or mentioned in this research work but few out
of them are selected and defined for clearer understanding of the study, they
are:
CUSTOMERS
– Are the immediate clients to the marketers
CONSUMERS
– Are the end users of the products achieved by the marketers
WEBMARKETING
– As an aspect of E-commerce and marketing; it means a systematic way of
discovering the demands of the consumers and preferring solutions to it with
satisfaction to the firm itself. Web-marketing is further said to mean the
electronic device in the internet through which marketing activities streak
across nations at the speed of light.
WEB
CRIMES – Consists of the various vices committed by web users which leads to a
recession in the use and development of webmarketing system, some of this crime
include fraud, embezzlement of funds and so on.
RECESSION
– A temporary decline or decrease in an economic activity.
WEBSITE
– Is a set of interconnected webpages usually including a homepage, generally
located on the same server, prepared and maintained as a collection of
information by a person, group or organization.
INTERNET
– Is a medium through which the globe is researched with one message at a time
and with ease and low cost.
MARKET
ENVIRONMENT – No business, firms or organization and companies operates within
a vacuum. They operate within an environment, suggesting that they are
creatures of their environment. They affect and are affected by the dynamic
nature of the environment, so therefore the survival and prosperity of any firm
is hinged on the demands imposed by the environment (Brownlie, 1995).
1.8 SCOPE
OF THYE STUDY
The
absence of full participation of selected companies involved is one of the
limitations of the study as some companies were unmilling to participate while
others participated halfheartedly. These were as a result of the most of the
companies’ policy which restricts employees from participating in survey and
researches giving comments to the press/media or being interviewed publicly or
privately while on duty. Due to time constraints, this study was limited to ten
(10) selected companies, they include Access
bank, Jumia Nigeria, Konga Nigeria, Nestle PLC, Orange Drugs, LeadWay Pensions,
Niger Insurance and Food Concept, PZ, Guiness, and Juhel Pharmaceuticals Ltd.
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