Impact of Economic Recession on the Marketing of Pharmaceutical Products in Kwara State, Nigeria

Simple item page
dc.contributor.authorIsaac Iortimbir Aun
dc.contributor.authorAbu, Zekeri
dc.contributor.authorTaiwo Ganiyu Oladipo
dc.contributor.authorSunday John Akpan
dc.date.accessioned2025-10-28T13:49:59Z
dc.date.available2025-10-28T13:49:59Z
dc.date.issued2017-08-23
dc.descriptiony –229– http://www.akamaiuniversity.us/PJST.htm Volume 18. Number 2. November 2017 (Fall) Impact of Economic Recession on the Marketing of Pharmaceutical Products in Kwara State, Nigeria Isaac Iortimbir Aun, Ph.D.*1: Zakeri Abu, Ph.D.2 ; Taiwo Ganiyu Oladipo, Ph.D.1 ; and Sunday John Akpan, Ph.D.3 1Department of Business Administration, University of Ilorin, Ilorin, Nigeria. 2Department of Business and Entrepreneurship, Kwara State University, Malete, Nigeria. 3Department of Marketing, Federal Polytechnic Ado-Ekiti, Nigeria. E-mail: isaacaun@gmail.com* zakeriabu2007@yahoo.com ganiyu_taiwo@yahoo.com ABSTRACT Ever since the great depression of the 1930’s, economic activities of various sectors of the economy has been revolutionized, among these sectors is the pharmaceutical sector in Nigeria. The major question in this sector is how exactly economic recession has affected the marketing of pharmaceutical products in Nigeria. This study examines the impact of economic recession on the marketing of pharmaceutical products in Nigeria. Primary data were used, the data were generated through a structured questionnaire to elicit information from 150 customers and intermediaries using simple random sampling technique. Student T-test and Z test were used to test the hypotheses of the study. The result shows that economic recession affects the income of consumers in Nigeria and mitigates the sales of ethical products thereby increasing the sales of fake and substandard products in the pharmaceutical industry. The study therefore, concluded that economic recession has a negative effect on the marketing of pharmaceutical products as it leads to a decrease in purchasing power of customers and a shift of customers from ethical products to fake and substandard products. In light of these, the study recommended that drug producers should adjust their marketing strategies to suit environmental needs and consumer responses through constant marketing research. (Keywords: economic recession, marketing, pharmaceutical product.
dc.description.abstractEver since the great depression of the 1930’s, economic activities of various sectors of the economy has been revolutionized, among these sectors is the pharmaceutical sector in Nigeria. The major question in this sector is how exactly economic recession has affected the marketing of pharmaceutical products in Nigeria. This study examines the impact of economic recession on the marketing of pharmaceutical products in Nigeria. Primary data were used, the data were generated through a structured questionnaire to elicit information from 150 customers and intermediaries using simple random sampling technique. Student T-test and Z test were used to test the hypotheses of the study. The result shows that economic recession affects the income of consumers in Nigeria and mitigates the sales of ethical products thereby increasing the sales of fake.
dc.description.sponsorshipself
dc.identifier.citation2
dc.identifier.issnhttp://www.akamaiuniversity.us/PJST.htm
dc.identifier.urihttps://kwasuspace.kwasu.edu.ng/handle/123456789/6144
dc.language.isoen
dc.publisherAkamai University, United States
dc.relation.ispartofseries18; 2
dc.titleImpact of Economic Recession on the Marketing of Pharmaceutical Products in Kwara State, Nigeria
dc.typeArticle
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Impact_of_Economic_Recession_on_the_Marketing_of_Pharmaceutical_Products_in.pdf_1749916554_.pdf
Size:
422.98 KB
Format:
Adobe Portable Document Format
Description:
y –229– http://www.akamaiuniversity.us/PJST.htm Volume 18. Number 2. November 2017 (Fall) Impact of Economic Recession on the Marketing of Pharmaceutical Products in Kwara State, Nigeria Isaac Iortimbir Aun, Ph.D.*1: Zakeri Abu, Ph.D.2 ; Taiwo Ganiyu Oladipo, Ph.D.1 ; and Sunday John Akpan, Ph.D.3 1Department of Business Administration, University of Ilorin, Ilorin, Nigeria. 2Department of Business and Entrepreneurship, Kwara State University, Malete, Nigeria. 3Department of Marketing, Federal Polytechnic Ado-Ekiti, Nigeria. E-mail: isaacaun@gmail.com* zakeriabu2007@yahoo.com ganiyu_taiwo@yahoo.com ABSTRACT Ever since the great depression of the 1930’s, economic activities of various sectors of the economy has been revolutionized, among these sectors is the pharmaceutical sector in Nigeria. The major question in this sector is how exactly economic recession has affected the marketing of pharmaceutical products in Nigeria. This study examines the impact of economic recession on the marketing of pharmaceutical products in Nigeria. Primary data were used, the data were generated through a structured questionnaire to elicit information from 150 customers and intermediaries using simple random sampling technique. Student T-test and Z test were used to test the hypotheses of the study. The result shows that economic recession affects the income of consumers in Nigeria and mitigates the sales of ethical products thereby increasing the sales of fake and substandard products in the pharmaceutical industry. The study therefore, concluded that economic recession has a negative effect on the marketing of pharmaceutical products as it leads to a decrease in purchasing power of customers and a shift of customers from ethical products to fake and substandard products. In light of these, the study recommended that drug producers should adjust their marketing strategies to suit environmental needs and consumer responses through constant marketing research. (Keywords: economic recession, marketing, pharmaceutical produ
Download
License bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
license.txt
Size:
1.71 KB
Format:
Item-specific license agreed to upon submission
Description:
Download
Collections
Scholarly Publication