Problems and Prospects of Marketing in Small-scale Business in Nigeria

After about a decade and a half of adopting an industrialization strategy based on large-scale industries, mostly of the assembly type, which were set up, tended to be capital intensive and in appropriate, given the country resources endowment their capital equipment and techaical manpower have continued to be largely imported, As a result, the triple objective of setting up large-scale industries namely:

1. Achievement of high level employment

2. Local sourcing of raw materials.

3. And saving of foreign exchange acquisition materialized.

In response to the weakness of large-scale manufacturing, government has sought to promote small-scale industries as a strategy for self-reliant industrialization. In Nigeria economy, attention has been drawn to the fact that small-scale enterprises have received very little attention where as it is providing employment for approximately triple the number engaged in large-scale manufacturing as well as playing their role which is crucial importance to our developing economy.

This is why it is important to reconsider the problem hindering the growth of this sector. Such problems the researcher has classified into managerial and financial inhibitions as well as some of the government policies, which do not favour small-scale industries.

The aqua rapha(god’s healing water) was established on 15th December 2004, by it’s sole owner Rev. father Ejike Mbaka.

His ability to generate money out of little or nothing and his interest in small business as while made him engage in small business partnership dealing on the distribution of house hold goods.

The owner made the feasibility study. the report is not too far from what becomes the reality.

The feasibility study was good only that there were few under and over estimations due to the on- going inflationary trend in the country and reforms in the economic system of the country.

The factory is located at 9th mile corner opposite Ama Brewearer plc in Enugu state. The factory is located in this area because if it’s proximity to the source of the raw materials used in the productions. The major raw materials used in the production of sachet/ packaged water are sourced locally. The manufacture employs the services of different professionals in manufacturing of the packaged water.

These professionals from different field/department work together to ensure the success of desired quantities that will ensure the company’s targets, objectives and goals. The purchasing department plays its role by getting all the necessary requirements for the production.
The factory men will organize the raw material and use it in production of complete products. After production, they will communicate stores and store will pack those products and communicate marketing for sales there by realizing funds, the finance department will keep for the enhancements of the company. the programme could have taken long before how, but the company has a serious financial constraint. The availability and cheapness of the major raw materials also affected the choice of products.

Aqua Rapha investment company produces packaged water, it’s product capacity is at minimum of eight hundred and fifty (850) bags that contains (20) sachets, per day. Given an effective annual working period of 240 days the output is modesty placed at 203, 760(two hundred and three thousand, seven hundred and sixty bags per year)

The management of aqua rapha investment company focus attention on the human side of the enterprise, in other words the behavioral aspects of management is primus. The proprietor of aqua rapha investments company believes that by rewarding workers adequately they tend to work harder and put in their best to achieve the organization set goals.

EDITOR'S SOURCE: Marketing Research Titles

Posted: at 21-06-2021 03:35 PM (2 years ago) | Upcoming

The field of marketing is not always easy. Small businesses face many challenges on a regular basis. As a business owner, you are tasked with hiring the right people, increasing sales, making payroll, filing tax returns, and providing quality customer service. You know you need to market your business to become or stay visible to your target audience. But, like most small businesses, there are more pressing business priorities that require your attention. I also recommend you read how to conduct a brand audit for more information.

Posted: at 25-10-2022 01:33 PM (1 year ago) | Newbie