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| Chapters: 1-5
| Pages: 85
THE IMPACT OF MARKET ORIENTATION PRACTICES ON ORGANISATIONAL PERFORMANCE IN NIGERIAN BANKING INDUSTRY
(A CASE STUDY OF FIRST BANK, FIRST CITY BANK, STERLING BANK, UBA AND ZENITH BANK)
ABSTRACT
The purpose of the study is to gain a better understanding of the theoretical and empirical relationship between market orientation practices (intelligence generation, intelligence dissemination and responsiveness, customer focus, competitor orientation and inter - functional coordination) and some measures of organizational performances (profitability customer satisfaction, long term objectives, short term objectives) of Nigerian banks.
A Cross Sectional Survey research design was adopted; while data were generated by means of structured question. Aides administered to members of staff of the following selected banks in Lagos metropolis; First bank, FCMB, Sterling bank, DBA and Zenith bank.
The study generated a ninety percent (90%) response rate from two hundred questionnaires that were given out.
Responses from the survey were statistically analyzed using simple frequency percentage, descriptive statistics, factor analysis and Pearson product moment correlation with the aid of SPSS.
Results of the study indicate that the studied banks were market oriented to a very large extent. It is apparent from the findings that banks attached great importance to obtaining relevant market intelligence and responding appropriately in order to gain competitive advantage.
The study also revealed that market orientation practices of the banks have significant correlation with aforementioned performance measures.
Finally, conclusions, recommendations and suggestions for further studies were highlighted to demonstrate the generalization of the results of the study.
TABLE OF CONTENTS
Title page i
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Table of content vi
CHAPTER TWO (Introduction)
1.1 Background of the study 1
1.2 Statement of the problem 3
1.3 Research questions 4
1.4 Research hypothesis 4
1.5 Objectives of the study 5
1.6 Scope of the study 6
1.7 Significance of the study 6
1.8 Operational definition of terms 7
References 9
CHAPTER TWO (Literature Review)
2.0 Introduction 10
2.1 Historical perspective of marketing 10
2.2 What is Market Orientation 11
2.3 The determinants of market orientation 16
2.4 Market orientation versus marketing orientation 19
2.5 Services marketing and marketing orientation 19
2.6 Alternative model in Services context 23
2.7 Different views on market orientation 26
2.8 The Nigerian banking industry 29
2.9 Brief history of case study 31
2.10 Conclusions based on literature review 34
References 36
CHAPTER THREE (Research Methods)
3.0 Introduction 38
3.1 Research design 38
3.2 Re-statement of research questions 39
3.3 Re-statement of research hypothesis 39
3.4 Population of the study 40
3.5 Sample size and sampling technique 40
3.6 Data collection methods 41
3.7 Data analysis methods 43
3.8 Limitation of the study 43
References 44
CHAPTER FOUR (Data Analysis and Interpretation)
4.0 Introduction 45
4.1 Analysis of questionnaires 45
4.2 Analysis of demographic variables 45
4.3 Analysis of responses to research questions 49
4.4 Factor of Analysis 51
4.5 Test of hypothesis 55
4.6 Keys of variables used in data analysis 58
CHAPTER FIVE (Summary, Conclusion and Recommendations)
5.1 Summary 60
5.2 Conclusions 62
5.3 Recommendations 63
5.4 Suggestions for further studies 65
Bibliography 66
Appendices 69
CHAPTER ONE
INTRODUCTION
1.0 BACKGROUND OF THE STUDY
An Organization is primarily established to achieve certain predetermined objectives, once of which could be the production and distribution of products and services which fulfils the needs and satisfaction of its consumers.
Thus, the needs of the consumers must be identified appropriately by organizations in order to produce goods and services that will satisfy the consumers on one hand and generate sales and profit for the organizations on the other hand. This assertion underscores the very essence of marketing in value creation and organizational performance-Marketing researchers have long stressed the importance of themarketing concept and have regarded it as a foundation of the marketing discipline. Recent researcher provide the much needed theoretical framework for the effect of marketing orientation the implementation of a marketing concept on business performance and shows some empirical support (e.g, Jaworski and Kohli 1993, Narver and Slater 1990. Tung-Zougchan and Su s.c 2004)
Fundamentally, Kotler (2002) identified five business philosophies toward the market place. These philosophies include: Production concept which state that consumers will purchase those products which are available in the greatest quantity and at the lowest cost of the, product concept which state that consumers will favour goods that are superior to others in quality or features. The se1ling concept shifts the emphasis from the product to aggressive selling and promotions closing the sales is goal of this orientation, while societal marketing emphasizes the need for organizations to offer quantity products to maintain or improve the consumers and society's wellbeing.
Finally, the marketing concept otherwise regarded as the production of market orientation according to Kotler, eschewsthe notion that the most important element in business philosophy is either the production capability or capacity or aggressive sales. Instead, this concept focuses on needs and wants, both present and future of potential customers.
Kotler juxtaposed clearly that ‘selling focuses on the needs of the seller; marketing on the needs of the buyer" (Kolter 2002; Juffery D. Derrick, 2002).
In the same vein, Kolterand Jaworski who have researched extensively on market orientation defined the concept as the 'implementation of the marketing concept" They also emphasized three basic element of market orientation which include Intelligence Generation (includes demand assessment, examination of external factors, competitors and customer needs); Intelligence Dissemination (Sharing the data secured among functional units) and Responsiveness (selecting the target markets) designing new product or changing existing ones in response to consumers input, anticipating picture customer's needs and distributing and promoting products that elicit a favorable action on the part of the customer (Jeffery D and Derrick, M.S 2000). Thus, responsiveness may appropriately be considered the spring broad to becoming a more market-oriented firm.
Accordingly, Geoff Lancaster et al (2000) emphasized the important of adapting a market-oriented organizational structure in becoming a marketing oriented firm.
According to them, although the proper organizational structure is an important element in a becoming market oriented, such an orientation is not achieved simply by adopting an organization chart. Management must also adopt and use the marketing concept as a business philosophy. Hence, in a marketing-orientated firm, marketing is not confined to the marketing director and marketing department rather it must permeate the whole company. A change of labels and tittles will not achieve the necessary fundamental change in company attitudes. It is the company's whole approach to business problems that is the key issue. It is the adoption of a business philosophy that put customers’ satisfaction at the centre of management thinking throughout the organization. It is the understanding, recognition, appreciation and delivery of customer's value and desired satisfactorily than competitors do. It is this that distinguishes as market-oriented firm from a production or sales oriented firm.
Suffice to mention here that the relevance of market orientation practices in Nigerian banking sector, considering the volatility and competitive nature of Nigerian business environment, cannot be over emphasized.
Although, one would notice a sharp disparity in the degree of market orientation practices in the pre-consolidation and post consolidation banking era in Nigeria.
In the pre-consolidation era, the prevailing or dominant business philosophy could best described as 'Quasi Marketing". This practice was characterized by low competition, little or no customer service, and poor service delivery and above all, customers were considered to be at the mercy of the banks. In contrary, the post consolidation period has witnessed an unprecedented turn-around in the marketing of banking products and services in Nigeria. The hitherto over hundred banks in the pre-consolidation period were whittle down to twenty five (25) mega banks with minimum capital base of twenty five billon naira (N25 billion).
The development has contributed greatly to improvement in market orientation practices among banks such that the new banks are beginning to redefine their scope, vision, mission, orientation and business focus by identifying the basic banking needs of the people and designing products, services, strategies and processes to facilitate superior service delivery. Thus, today banking sector has put on a new look that is driven by intense competition, business re-engineering, customer focus, continuous products improvement, customer-oriented organizational cultured, precision, information technology, total quality management and impeacable speed of operations among other variables and determinants of economic (business) and non-economic performance .
1.2 STATEMENT OF THE PROBLEM
Nigerian banking sector has come of age and a number of reforms have been implemented by the apex bank to reposition and reenergize the sector to meet greater challenges, for improved performance locally and internationally and for other socio- economic justifications.
Today, most banks in Nigeria are growing in lips and bounds and their performance and service delivery have improved considerably.
However, the problem of this study is to find out whether this performance is determined by market orientation practices. Thus, in the light of the above and given the volatility, competitiveness and dynamism of Nigerian business environment nowadays there is undoubted task before the banks to consolidate their market orientation practices.
To this end therefore, it is imperative to carry out an intelligent, systematic, objective and holistic assessment of the level of market orientation practices in Nigerian banking sector. The study shall focus on the following selected banks as cases to be studied; First bank, First city, Sterling bank, UBA, and Zenith bank.
1.3 RESEARCH QUESTIONS.
The study is aimed at addressing the following salient research questions;
1. What are the impacts of market orientation practices on the performance (profitability, business growth, market share etc) of Nigerian banks?
2. Is there any relationship between market orientation and customer satisfaction in Nigerian banking sector?
3. To what extent do environment alldynamicsaffect market orientation in Nigerian banking sector?
4. Is there any relationship between the antecedents to market orientation and the overall effectiveness of market orien1tion in Nigerian banks?
1.4 RESEARCH HYPOTHESES
Based on the research questions the following hypotheses are proposed for the study.
HYPOTHESIS ONE
Ho: The greater the market orientation practices of an organization, the lower the performance.
Hi: The greater the market orientation practices of an organization, the higher its performance.
HYPOTHESIS TWO
Ho: The greater the market orientation practices of an organization the lower its customer satisfaction.
Hi: The greater the market orientation practices of an organization the greater its customer satisfaction.
HYPOTHESIS THREE.
Ho: That environmental dynamics of market turbulence, competitive intensity and technological turbulence would have negative effect on the relationship between market orientation and organizational performance.
Hi: That environment dynamics of market turbulence, competitive intensity and technological turbulence would have positive effect on the relationship between market orientation and organizational performance.
HYPOTHESIS FOUR.
Ho: The greater the antecedents to market orientation (Top management emphasis, interdepartmental dynamics and organizational systems) the lower the overall market orientation of the organization.
Hi: The greater the antecedents to market orientation (Top management emphasis, interdepartmenta1 dynamics and organizational systems) the greater the overall market orientation of the organization.
1.5 OBJECTIVE OF THE STUDY
The following are the objective of the study.
1. To determinethe impactofmarket orientation practices on the performance of the Nigeria banks.
2. To determine the relationship between market orientation practices and customer satisfaction in Nigerian banks.
3. To examine the relationship between the antecedents to market orientation and the overall effectiveness of market orientation in Nigerian banks.
4. To determine the extent at which environmental dynamics affect market
orientation practices of Nigerian banks.
1.6 SCOPE OF THE STUDY.
In the course of the study effect shall be made to cover various dimensions or aspects of market orientation in the selected banks (First bank, First city, Sterling bank, UBA, Zenith bank). The study shall look into the processes of intelligence generation, dissemination as well as responsiveness of the banks to customers' needs, product/services improvement and service.
The study will also cover other aspect of market orientation such as competitor's orientation and profitability. The study will investigate how competitor's intelligence is gathered, analyzed and actedupon to gain better insight into new ways/ approaches of improving banking operations and to facilitate customers satisfaction and organizational profitability.
1.7 SIGNIFICANCE OF THE STUDY.
The study will be relevant to the extent that it will have theoretical and practical significance.
On one hand, marketing practitioners especially those in the banking facet of the economy will find this study handful, as they will give a better insight into the impact of market orientati6n on business performance. The study wills them to improve on their existing marketing strategies and be more customers - focused without losing sight of the marketing strategies of competitors.
On the other hand, marketing academics (Students, Researchers, Scholars and Tutors) will also benefit-from this study as it will not only serve as a reference point for further researches, but also provide an empirical understanding of the concept of market orientation.
1.8 OPERATIONAL DEFINITION OF TERMS.
For better understanding of the study, some salient operational terms and concepts are explained here;
1. MARKET: Thisis used to mean a set of potential and actual buyer of a product or service.
2. BUSINESS PHILOSOPHY: This consists of basic beliefs and values that are expected to guide organizational members in conducting organizations business.
3. MARKET ORIENTATION (MO): This is used to mean an organization wide generation, dissemination and responsiveness to market intelligence.
4. BANKS CONSOLIDATION: This is used to mean strategic alliance of banks through merge, and acquisition to enhance service delivery and compete internationally.
5. ANTECEDENTS OF MARKET ORIENTATION: This mean organization factors that enhance or impede the implementation of the business philosophy represented by the marketing concept.
6. PRODUCT CQNCEPT: The ideas that consumers will favour products that offers the most quality, performance and features.
7. PRODUCTION CONCEPT: The ideas that consumers will favour products that are available and highly affordable.
8. SELLING CONCEPT: The ideas that consumers will not buy enough ofthe organization products unless the organization undertakes a large scale selling and promotion effort.
9.
(A CASE STUDY OF FIRST BANK, FIRST CITY BANK, STERLING BANK, UBA AND ZENITH BANK)
ABSTRACT
The purpose of the study is to gain a better understanding of the theoretical and empirical relationship between market orientation practices (intelligence generation, intelligence dissemination and responsiveness, customer focus, competitor orientation and inter - functional coordination) and some measures of organizational performances (profitability customer satisfaction, long term objectives, short term objectives) of Nigerian banks.
A Cross Sectional Survey research design was adopted; while data were generated by means of structured question. Aides administered to members of staff of the following selected banks in Lagos metropolis; First bank, FCMB, Sterling bank, DBA and Zenith bank.
The study generated a ninety percent (90%) response rate from two hundred questionnaires that were given out.
Responses from the survey were statistically analyzed using simple frequency percentage, descriptive statistics, factor analysis and Pearson product moment correlation with the aid of SPSS.
Results of the study indicate that the studied banks were market oriented to a very large extent. It is apparent from the findings that banks attached great importance to obtaining relevant market intelligence and responding appropriately in order to gain competitive advantage.
The study also revealed that market orientation practices of the banks have significant correlation with aforementioned performance measures.
Finally, conclusions, recommendations and suggestions for further studies were highlighted to demonstrate the generalization of the results of the study.
TABLE OF CONTENTS
Title page i
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Table of content vi
CHAPTER TWO (Introduction)
1.1 Background of the study 1
1.2 Statement of the problem 3
1.3 Research questions 4
1.4 Research hypothesis 4
1.5 Objectives of the study 5
1.6 Scope of the study 6
1.7 Significance of the study 6
1.8 Operational definition of terms 7
References 9
CHAPTER TWO (Literature Review)
2.0 Introduction 10
2.1 Historical perspective of marketing 10
2.2 What is Market Orientation 11
2.3 The determinants of market orientation 16
2.4 Market orientation versus marketing orientation 19
2.5 Services marketing and marketing orientation 19
2.6 Alternative model in Services context 23
2.7 Different views on market orientation 26
2.8 The Nigerian banking industry 29
2.9 Brief history of case study 31
2.10 Conclusions based on literature review 34
References 36
CHAPTER THREE (Research Methods)
3.0 Introduction 38
3.1 Research design 38
3.2 Re-statement of research questions 39
3.3 Re-statement of research hypothesis 39
3.4 Population of the study 40
3.5 Sample size and sampling technique 40
3.6 Data collection methods 41
3.7 Data analysis methods 43
3.8 Limitation of the study 43
References 44
CHAPTER FOUR (Data Analysis and Interpretation)
4.0 Introduction 45
4.1 Analysis of questionnaires 45
4.2 Analysis of demographic variables 45
4.3 Analysis of responses to research questions 49
4.4 Factor of Analysis 51
4.5 Test of hypothesis 55
4.6 Keys of variables used in data analysis 58
CHAPTER FIVE (Summary, Conclusion and Recommendations)
5.1 Summary 60
5.2 Conclusions 62
5.3 Recommendations 63
5.4 Suggestions for further studies 65
Bibliography 66
Appendices 69
CHAPTER ONE
INTRODUCTION
1.0 BACKGROUND OF THE STUDY
An Organization is primarily established to achieve certain predetermined objectives, once of which could be the production and distribution of products and services which fulfils the needs and satisfaction of its consumers.
Thus, the needs of the consumers must be identified appropriately by organizations in order to produce goods and services that will satisfy the consumers on one hand and generate sales and profit for the organizations on the other hand. This assertion underscores the very essence of marketing in value creation and organizational performance-Marketing researchers have long stressed the importance of themarketing concept and have regarded it as a foundation of the marketing discipline. Recent researcher provide the much needed theoretical framework for the effect of marketing orientation the implementation of a marketing concept on business performance and shows some empirical support (e.g, Jaworski and Kohli 1993, Narver and Slater 1990. Tung-Zougchan and Su s.c 2004)
Fundamentally, Kotler (2002) identified five business philosophies toward the market place. These philosophies include: Production concept which state that consumers will purchase those products which are available in the greatest quantity and at the lowest cost of the, product concept which state that consumers will favour goods that are superior to others in quality or features. The se1ling concept shifts the emphasis from the product to aggressive selling and promotions closing the sales is goal of this orientation, while societal marketing emphasizes the need for organizations to offer quantity products to maintain or improve the consumers and society's wellbeing.
Finally, the marketing concept otherwise regarded as the production of market orientation according to Kotler, eschewsthe notion that the most important element in business philosophy is either the production capability or capacity or aggressive sales. Instead, this concept focuses on needs and wants, both present and future of potential customers.
Kotler juxtaposed clearly that ‘selling focuses on the needs of the seller; marketing on the needs of the buyer" (Kolter 2002; Juffery D. Derrick, 2002).
In the same vein, Kolterand Jaworski who have researched extensively on market orientation defined the concept as the 'implementation of the marketing concept" They also emphasized three basic element of market orientation which include Intelligence Generation (includes demand assessment, examination of external factors, competitors and customer needs); Intelligence Dissemination (Sharing the data secured among functional units) and Responsiveness (selecting the target markets) designing new product or changing existing ones in response to consumers input, anticipating picture customer's needs and distributing and promoting products that elicit a favorable action on the part of the customer (Jeffery D and Derrick, M.S 2000). Thus, responsiveness may appropriately be considered the spring broad to becoming a more market-oriented firm.
Accordingly, Geoff Lancaster et al (2000) emphasized the important of adapting a market-oriented organizational structure in becoming a marketing oriented firm.
According to them, although the proper organizational structure is an important element in a becoming market oriented, such an orientation is not achieved simply by adopting an organization chart. Management must also adopt and use the marketing concept as a business philosophy. Hence, in a marketing-orientated firm, marketing is not confined to the marketing director and marketing department rather it must permeate the whole company. A change of labels and tittles will not achieve the necessary fundamental change in company attitudes. It is the company's whole approach to business problems that is the key issue. It is the adoption of a business philosophy that put customers’ satisfaction at the centre of management thinking throughout the organization. It is the understanding, recognition, appreciation and delivery of customer's value and desired satisfactorily than competitors do. It is this that distinguishes as market-oriented firm from a production or sales oriented firm.
Suffice to mention here that the relevance of market orientation practices in Nigerian banking sector, considering the volatility and competitive nature of Nigerian business environment, cannot be over emphasized.
Although, one would notice a sharp disparity in the degree of market orientation practices in the pre-consolidation and post consolidation banking era in Nigeria.
In the pre-consolidation era, the prevailing or dominant business philosophy could best described as 'Quasi Marketing". This practice was characterized by low competition, little or no customer service, and poor service delivery and above all, customers were considered to be at the mercy of the banks. In contrary, the post consolidation period has witnessed an unprecedented turn-around in the marketing of banking products and services in Nigeria. The hitherto over hundred banks in the pre-consolidation period were whittle down to twenty five (25) mega banks with minimum capital base of twenty five billon naira (N25 billion).
The development has contributed greatly to improvement in market orientation practices among banks such that the new banks are beginning to redefine their scope, vision, mission, orientation and business focus by identifying the basic banking needs of the people and designing products, services, strategies and processes to facilitate superior service delivery. Thus, today banking sector has put on a new look that is driven by intense competition, business re-engineering, customer focus, continuous products improvement, customer-oriented organizational cultured, precision, information technology, total quality management and impeacable speed of operations among other variables and determinants of economic (business) and non-economic performance .
1.2 STATEMENT OF THE PROBLEM
Nigerian banking sector has come of age and a number of reforms have been implemented by the apex bank to reposition and reenergize the sector to meet greater challenges, for improved performance locally and internationally and for other socio- economic justifications.
Today, most banks in Nigeria are growing in lips and bounds and their performance and service delivery have improved considerably.
However, the problem of this study is to find out whether this performance is determined by market orientation practices. Thus, in the light of the above and given the volatility, competitiveness and dynamism of Nigerian business environment nowadays there is undoubted task before the banks to consolidate their market orientation practices.
To this end therefore, it is imperative to carry out an intelligent, systematic, objective and holistic assessment of the level of market orientation practices in Nigerian banking sector. The study shall focus on the following selected banks as cases to be studied; First bank, First city, Sterling bank, UBA, and Zenith bank.
1.3 RESEARCH QUESTIONS.
The study is aimed at addressing the following salient research questions;
1. What are the impacts of market orientation practices on the performance (profitability, business growth, market share etc) of Nigerian banks?
2. Is there any relationship between market orientation and customer satisfaction in Nigerian banking sector?
3. To what extent do environment alldynamicsaffect market orientation in Nigerian banking sector?
4. Is there any relationship between the antecedents to market orientation and the overall effectiveness of market orien1tion in Nigerian banks?
1.4 RESEARCH HYPOTHESES
Based on the research questions the following hypotheses are proposed for the study.
HYPOTHESIS ONE
Ho: The greater the market orientation practices of an organization, the lower the performance.
Hi: The greater the market orientation practices of an organization, the higher its performance.
HYPOTHESIS TWO
Ho: The greater the market orientation practices of an organization the lower its customer satisfaction.
Hi: The greater the market orientation practices of an organization the greater its customer satisfaction.
HYPOTHESIS THREE.
Ho: That environmental dynamics of market turbulence, competitive intensity and technological turbulence would have negative effect on the relationship between market orientation and organizational performance.
Hi: That environment dynamics of market turbulence, competitive intensity and technological turbulence would have positive effect on the relationship between market orientation and organizational performance.
HYPOTHESIS FOUR.
Ho: The greater the antecedents to market orientation (Top management emphasis, interdepartmental dynamics and organizational systems) the lower the overall market orientation of the organization.
Hi: The greater the antecedents to market orientation (Top management emphasis, interdepartmenta1 dynamics and organizational systems) the greater the overall market orientation of the organization.
1.5 OBJECTIVE OF THE STUDY
The following are the objective of the study.
1. To determinethe impactofmarket orientation practices on the performance of the Nigeria banks.
2. To determine the relationship between market orientation practices and customer satisfaction in Nigerian banks.
3. To examine the relationship between the antecedents to market orientation and the overall effectiveness of market orientation in Nigerian banks.
4. To determine the extent at which environmental dynamics affect market
orientation practices of Nigerian banks.
1.6 SCOPE OF THE STUDY.
In the course of the study effect shall be made to cover various dimensions or aspects of market orientation in the selected banks (First bank, First city, Sterling bank, UBA, Zenith bank). The study shall look into the processes of intelligence generation, dissemination as well as responsiveness of the banks to customers' needs, product/services improvement and service.
The study will also cover other aspect of market orientation such as competitor's orientation and profitability. The study will investigate how competitor's intelligence is gathered, analyzed and actedupon to gain better insight into new ways/ approaches of improving banking operations and to facilitate customers satisfaction and organizational profitability.
1.7 SIGNIFICANCE OF THE STUDY.
The study will be relevant to the extent that it will have theoretical and practical significance.
On one hand, marketing practitioners especially those in the banking facet of the economy will find this study handful, as they will give a better insight into the impact of market orientati6n on business performance. The study wills them to improve on their existing marketing strategies and be more customers - focused without losing sight of the marketing strategies of competitors.
On the other hand, marketing academics (Students, Researchers, Scholars and Tutors) will also benefit-from this study as it will not only serve as a reference point for further researches, but also provide an empirical understanding of the concept of market orientation.
1.8 OPERATIONAL DEFINITION OF TERMS.
For better understanding of the study, some salient operational terms and concepts are explained here;
1. MARKET: Thisis used to mean a set of potential and actual buyer of a product or service.
2. BUSINESS PHILOSOPHY: This consists of basic beliefs and values that are expected to guide organizational members in conducting organizations business.
3. MARKET ORIENTATION (MO): This is used to mean an organization wide generation, dissemination and responsiveness to market intelligence.
4. BANKS CONSOLIDATION: This is used to mean strategic alliance of banks through merge, and acquisition to enhance service delivery and compete internationally.
5. ANTECEDENTS OF MARKET ORIENTATION: This mean organization factors that enhance or impede the implementation of the business philosophy represented by the marketing concept.
6. PRODUCT CQNCEPT: The ideas that consumers will favour products that offers the most quality, performance and features.
7. PRODUCTION CONCEPT: The ideas that consumers will favour products that are available and highly affordable.
8. SELLING CONCEPT: The ideas that consumers will not buy enough ofthe organization products unless the organization undertakes a large scale selling and promotion effort.
9.
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