Effect of Electronic Marketing On Customers Satisfaction Among Deposit Money Banks in Ondo State, Nigeria (Published)
Electronic marketing (e-marketing) is one of the important tools of the 21st century that helps propel businesses greatly when properly used in the right dimension. Every business in the world now turns to e-marketing for more penetration into the market. Therefore, the banking sector is not excluded from doing this, as they use it to reach out to their customers and also for transactional purposes. The study examined the effect of electronic marketing on customer satisfaction among Deposit Money Banks (DMBs) in Ondo State, Nigeria. The study objectives was to assess the effect of online, mobile and email marketing on customers satisfaction in Ondo State. A research survey design was used to collect primary data with the help of a questionnaire. The sample size used for the study was 400 respondents selected in the major cities of Ondo State (Akure, Owo, Ikare-Akoko, Ondo, and Okitipupa). The method of data analysis was multiple regression and Analysis of Variance. The findings of the study revealed that there was a significant relationship between mobile marketing and customer satisfaction among DMBs in Ondo State as far as the issue of electronic marketing is concerned; there was also a positive relationship between online advertising and customer satisfaction among DMB customers in Ondo State; and there was a significant relationship between email marketing and customer satisfaction among Deposit Money Banks in Ondo State. Based on this study and the variables used, it was therefore concluded that electronic marketing improves customer satisfaction among the customers of DMBs in Ondo State. The study recommended that DMBs should continue to sensitize customers on the availability of their digital marketing platforms to increase patronage and satisfaction among their customers at all times, as this will improve their knowledge and satisfaction.
Keywords: Digital, Global-business, Improving, Technology
A Case for Government-Industry Policy on Inventory Management Technology for Enhanced Productivity and GDP Growth Rate in Nigeria (Published)
Today’s development is not possible without advanced technology. In the area of manufacturing, technology is quickly changing the way in which stock is handled and controlled for enhanced productivity. Sophisticated information gathering systems can track items from the purchase order to the final customer on the sales chain. Automation can dramatically impact all phases of inventory management, including counting, monitoring, recording and retrieval of items, storage location; recording changes to inventory; and anticipating inventory needs, including inventory handling requirements. The manufacturing and retail industries, worldwide, have created standards to take advantage of new technologies and computerized systems such as the Radio Frequency Identification (RFID), barcodes, vending machines, warehouse technology management system, etc. All these provide accurate inventory information on a constant basis thus, enhance organisation’s productivity and increase its competitive edge over companies that are slow to take advantage of these new technologies. Finding the position of Nigerian manufacturing firms in this equation was the major focus of the study. Results indicated poor performance. Based on that, a case for government-industry policy framework that will make it mandatory for manufacturers in Nigeria to use technology-based inventory management system for enhanced productivity and GDP growth was made by the authors.
Keywords: GDP growth, Industry Policy, Inventory Management, Productivity, Technology
Assessment of Digital Economic Trade on Consumer (Published)
Increasing volumes of e-trade contribute to motivation of consumers to obtain commodities and services in electronic space. At the same time, upsurge of e-trade determines rising scopes of shadow economy in respect of favorable conditions for traders and service providers to operate in e-space evading taxpaying. The purpose of the article is to identify the factors of digital shadow consumption. In order to fulfill the defined purpose, the empirical research – survey of consumers (e-trade participants) – was performed. The research of the scientific literature has revealed that thus far the problem of consumers’ participation in digital shadow economy has been basically analyzed focusing on the impact of e-payment systems on shadow economy. Nevertheless, the rapid spread of e-services determines the changes in the concept of shadow economy itself. It remains indistinct which features indicate whether economic activities performed in e-space should be accounted or not. Widely exploited e-spaces such as social network platforms, alternative future currencies, e-trade systems, cyber computer games or online gambling terminals generate turnover of real money (or its electronic equivalent), which is not officially accounted. The problem raised in this article is highly topical for Lithuania, where online networks as well as mobile connection systems are comparatively advanced (with reference to the data of Lithuanian Department of Statistics, the number of households possessing a computer and the Internet access made over 65% in 2013). Intense exploitation of advanced IT technologies and online networks is considered as a breeding ground for generation of digital economy, a part of which is presumed to be digital shadow. The results of the research have revealed that the most significant factors of digital shadow consumption include lower prices of products and services in digital black markets, unfavorable economic situation in the country, technological advancement, IT advantages, time saving obtaining a product/service in the local market and lack of opportunities to obtain a desired product in the local market. The majority of the consumers neither verify the status of a trader nor request (or not always request) purchase confirmation documents, which highly contributes to motivation of an illegal trader to maintain e-activities unregistered, this way escaping revenue taxation.
Keywords: Consumer, E-trade, Economic, Electronic, Market, Technology
Government-Industry Policy on Inventory Management Technology for Enhanced Productivity and GDP Growth Rate in Nigeria (Published)
Today’s development is not possible without advanced technology. In the area of manufacturing, technology is quickly changing the way in which stock is handled and controlled for enhanced productivity. Sophisticated information gathering systems can track items from the purchase order to the final customer on the sales chain. Automation can dramatically impact all phases of inventory management, including counting, monitoring, recording and retrieval of items, storage location; recording changes to inventory; and anticipating inventory needs, including inventory handling requirements. The manufacturing and retail industries, worldwide, have created standards to take advantage of new technologies and computerized systems such as the Radio Frequency Identification (RFID), barcodes, vending machines, warehouse technology management system, etc. All these provide accurate inventory information on a constant basis thus, enhance organisation’s productivity and increase its competitive edge over companies that are slow to take advantage of these new technologies. Finding the position of Nigerian manufacturing firms in this equation was the major focus of the study. Results indicated poor performance. Based on that, a case for government-industry policy framework that will make it mandatory for manufacturers in Nigeria to use technology-based inventory management system for enhanced productivity and GDP growth was made by the authors.
Keywords: GDP growth, Industry Policy, Inventory Management, Productivity, Technology
THE ROLE OF INFORMATION TECHNOLOGY IN BUILDING CUSTOMER LOYALTY IN BANKING: (A CASE STUDY OF AGRICULTURAL DEVELOPMENT BANK LTD., SUNYANI) (Published)
The banking industry is constantly facing increasing competition partly due to financial liberalization and technological developments. To survive in an environment of intense competition more Banks have adopted technology – based service options in order to provide excellent customer service to enhance customer loyalty. However, it is becoming increasingly difficult for Agricultural Development Bank Ltd. in Sunyani to satisfy and retain its customers, who are often demanding improved quality services. Failure of the Agricultural Development Bank in Sunyani to efficiently adopt information technology like ATMs, branch networking, etc in the delivery of banking services has slowed down the processes of delivery of banking services leading to queuing and unnecessary service failures which may make it difficult to satisfy and retain the customers. The purpose of the research was to investigate the role of information technology in the development of loyalty in banking. Empirical data for the study were collected through interviews and questionnaires. The results of the study indicate that despite the introduction of IT in service delivery by the Agricultural Development Bank Ltd. in Sunyani, service quality is still low. However, IT has played the role of enhancing customer loyalty by making banking services more personalized, convenient and time–saving. The management of Agricultural Development Bank Ltd. in Sunyani needs to concentrate much of its efforts in terms of time and financial resources to provide quality services by improving the perceived performance of the electronic banking facilities so as to enhance customer loyalty
Keywords: Customer, Development, E-Zwich, Information, Loyalty, Technology