PRODUCT DISPOSITION ALTERNATIVES IN A DISTRESSED ECONOMY-NIGERIA IN FOCUS

ABSTRACT

This study was carried out to ascertain product disposition alternatives in a distressed economy- Nigeria in focus. The specific objectives included to: determine the effect of keeping an unacceptable product and product package on societal well-being; determine the relationship between getting rid of unacceptable product and product package on environmental sustainability; evaluate the effect of returning unacceptable product and product package to the vendor on target market health standard. Three (3) research questions and hypotheses guided the study. The study adopted quantitative approach by means of self-administered questionnaire survey and primary sources of data which was collected with the help of well-structured questionnaire and was analysed using the ‘five (5)’ scale modified Likert ranking order. The population of this study was made up of students, staff and other respondents of Umudike which was not be determined with reasonable degree of accuracy. The sample size was determined based on purposive, judgemental and convenience sampling method, as ten (10) students drawn from the nine (9) standing colleges of the University, sixty (60) other residents of the community and thirty (30) members of the academic and non-academic staff at the ratio of 2:1.  The data collected were analyzed using descriptive statistics such as frequency and simple percentages; the hypotheses were tested using sample regression for hypotheses 1 and 3; while pearson correlation co-efficient for hypothesis 2 and SPSS statistics computer software was used to run the analysis. Findings of the study reviewed that keeping of unacceptable product and package has significant effect on societal well-being as it impacts on the quality of the environment and the lives of current and future generations, this act of keeping unacceptable product and package could lead to reduction in market for new product as well as course retardation in economic growth as second hand products are made more available; significant relationship exist between getting rid of unacceptable product and product package and environmental sustainability as the process of reclaiming by recycling and reusable materials, return and rework from the point of consumption or use for repair, re-manufacturing, or disposal and returning unacceptable product and product package to the vendor has significant effect on target market health standard as the process reduces the amount of waste in landfills and lowers operating costs for companies. The study further recommended that unacceptable product and package should be refurbished for the re-use of the consumer or be sold to other consumers; acts of getting rid should be adopted as an environmental sustainability strategy as to create enable environment for land filling as strategy of environmental sustainability and returning unacceptable product and product package should be adopted as to reduce related health hazards in the market.

TABLE OF CONTENTS

Title i

Declaration ii

Certification iii

Dedication iv

Acknowledgements v

Table of content vi

List of Tables viii

Abstract ix

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study 1

1.2 Statement of Problem 3

1.3 Objective of the Study 3

1.4 Research Questions 4

1.5 Research Hypothesis 4

1.6 Scope of the Study 4

1.7 Significance of the Study 5

CHAPTER TWO

REVIEW OF RELATED LITERATURE

2.1 Conceptual Framework 6

2.1.1 Concept of Disposition`` 6

2.1.2 Factors that affect Disposition Decision Making 8

2.1.2.1 Perceived Depreciation 8

2.1.2.2 Product Scarcity 9

2.1.2.3 Transaction Reference Price 10

2.1.2.4 Perceived Transaction Cost 11

2.1.2.5 Desire to give 14

2.1.2.6 Timing 15

2.1.3 Disposal of Possessions 15

2.1.4 Disposition Alternatives in a Distressed Economy 17

2.2 Theoretical Framework 19

2.2.1 Commodity Theory 19

2.3 Empirical Review 21

CHAPTER THREE

METHODOLOGY

3.1 Research Design 23

3.2 Area of the Study 23

3.3 Source of Data 23

3.4 Population for the Study 23

3.5 Sample Size Determination 24

3.6 Sampling Techniques 24

3.7 Description of Research Instrument 24

3.8 Validity of the Instrument 24

3.9 Reliability of the Instrument 25

3.10 Method of Data Analysis 25

3.11 Model Specification 26

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS

4.1 Data Source Presentation 26

4.2 Test of Hypotheses 27

4.3 Discussion of Findings 33

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1 Summary 35

5.2 Conclusion 35

5.3 Recommendations 36

REFERENCES

APPENDIX: QUESTIONNAIRE

LIST OF TABLES

Table No. Title         Page No.

4.1: Data Generation( Questionnaire Administration) 26

4.2: Keeping unacceptable Product/Packages and Societal Well Being 27

4.3: Unacceptable Product and Package and Societal Well Being 28

4.4: Getting rid of Unacceptable Product and Package and Environmental

Sustainability 30

4.5: Returning Unacceptable Product/Packaging and Health Standards 31

4.6: Returning of Unacceptable Product/Package and Health Standards 32

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

The year 2014 rebase figures of the country considered Nigerian economy as the largest economy in Africa. The current economic statistics reveals South African economy as the largest economy with Gross Domestic Product (GDP) of $301 billion U.S. dollars as against Nigerian economy of GDP of $296 billion U.S. dollars (Channel News, 2016). The recent collapse of oil prices in the global economy and unrealistic exchange rate regime in the economy, have affected and impacted negatively on the economy, resulting into a downward trend on the resource and revenue baseof thegovernment. The estimated annual growthrate of Nigerian economy in the first and second quarter is now -2.06% to the Gross Domestic product(GDP) while South Africa is estimated at 3% growth rate (Channel News, 2016). This negative economic indicator has taken toil on the economy resulting into worsened socio-economic condition of the citizens.

Moreover, the lack of political will of the successive governments, political class and elites coupled withendemic corruption in the system, are someof the factors that have snowballed the economy into present economic distress (Raghavan, 2010). The major factors accounting for the relative decline of the country's economic fortunes are easily identifiable as political instability, lack of focused and visionary leadership, economic mismanagement and corruption (Sanusi, 2010). The basic factis that Nigerian economy is a satellite economy of international monopoly capital. It is an economycharacterized byprimaryproductionand highly importdependent. This makes the economy vulnerable to the cyclical variations and swings or shocks of the global economic crisis.

There are various alternatives for disposing of a product. In addition, the method of disposition may vary considerably across products. For example, while bicycles tend to be given away, this is not true of phonograph records which are usually thrown away or stored. At present little is known about the factors that influence the disposition choice made by the consumer (Todaro and Smith, 2009).

Disposal of products often occurs in connection with the changing roles of consumers (Coulter and Ligas, 2003). It has been suggested too that consumer product disposition is actually a process involving the steps of problem recognition search and evaluation disposition decision and post disposition outcomes.

Moreover, the understanding of disposition behaviour can provide further insights into post purchase behaviour (Lin and Chang, 2013). As purchase and consumption behaviour are cyclical in nature, it generates economic activities and demand in the marketplace. It then propels more material acquisition and conspicuous consumption. As such, disposition behaviour is also pivotal to societal well-being and environmental sustainability (Palmer and Walls, 1998).

Accompanying the increasing importance of consumption and usage activities, the matter of disposition has begun to evoke greater attention. Jacoby et al. (2016) has articulately specified the disposition alternatives available in a distressed economy like Nigeria. How consumers dispose and why vary across different products. Nevertheless, these disposition alternatives can be categorized as: keeping it, getting rid of it permanently and getting rid of it temporarily. It is based on this that this study seeks to evaluate the disposition alternative in a distressed economy using Nigeria as a study focus.

1.2 Statement of Problem

Notwithstanding the importance of understanding product disposition behaviour, the extant of literature on consumer behaviour mainly focuses on topics related to acquisition and consumption. Therefore, less attention is given to understanding product disposition behaviour, and how it ties in with repurchase intention (Raghavan, 2010). As past studies on product disposition are predominantly done in developed countries (Coulter and Ligas, 2003; Lin and Chang, 2013; Wilhelm, Yankov et al., 2011; Young-Lee et al., 2013), little is known about the subject matter in a distressed and developing economies especially Nigeria. Hence, the present study serves to empirically examine the disposition alternative in a distressed economy using Nigeria as a study focus.

1.3 Objective of the Study

The main objective of this study is to evaluate the effect of different product disposition alternatives on economic development of a distressed economy using Nigeria as a reference study.

However, the specific objectives include, to:

i) determine the effect of keeping an unacceptable product and product package on societal well-being

ii) determine the relationship between getting rid of unacceptable product and product package on environmental sustainability

iii) evaluate the effect of returning unacceptable product and product package to the vendor on target market health standard

1.4 Research Questions

The research questions centres on the following:

i) What is the effect of keeping an unacceptable product and product package on societal well-being?

ii) What is the relationship between getting rid of unacceptable product and product package on environmental sustainability?

iii) What is the effect of returning unacceptable product and product package to the vendor on target market health standard?

1.5 Research Hypothesis

The following null hypotheses are constructed for the purpose of this research

Ho₁: Keeping an unacceptable product and product package does not have significant effect on societal well-being

Ho₂: There is no significant relationship between getting rid of unacceptable product and product package and environmental sustainability

Ho₃: Returning unacceptable product and product package to the vendor does not have significant effect on target market health standard

1.6 Scope of the Study

The scope of this study is centred on evaluating the input of different product disposition alternatives on economic development of a distressed economy in Nigeria. The study will be limited to the following disposition alternative elimination of non-conformity (reworking); authourize use, release or acceptance (repair); action to preclude the original use (scrapping/downgrading) and actions for delivered product (customer returns/product recalls

1.7 Significance of the Study

This study will be beneficial to government and policy makers in noting the implications of the consumer product disposition process which is reflected on several areas of marketing. There are implications from a public policy perspective as well as from a strategy perspective. The public policy effects of disposition are many. For example, the effects of disposition choice on the environment include the long run effects of a throwaway lifestyle, the resources wasted when an item is discarded and the resource depleted when its replaced. Thus, study of the many problems of polluting and littering could be better addressed by government and policy makers by considering consumer disposition through this study.

This study will also help in further researches that will be made in the field of management science and be of assistance to tutor, students and prospective researchers in similar topic.

Buyers has the right to create dispute within seven (7) days of purchase for 100% refund request when you experience issue with the file received. 

Dispute can only be created when you receive a corrupt file, a wrong file or irregularities in the table of contents and content of the file you received. 

ProjectShelve.com shall either provide the appropriate file within 48hrs or send refund excluding your bank transaction charges. Term and Conditions are applied.

Buyers are expected to confirm that the material you are paying for is available on our website ProjectShelve.com and you have selected the right material, you have also gone through the preliminary pages and it interests you before payment. DO NOT MAKE BANK PAYMENT IF YOUR TOPIC IS NOT ON THE WEBSITE.

In case of payment for a material not available on ProjectShelve.com, the management of ProjectShelve.com has the right to keep your money until you send a topic that is available on our website within 48 hours.

You cannot change topic after receiving material of the topic you ordered and paid for.