CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
Marketing and promotion is a strategic instrument for business development that aids in the correct growth and sustainability of micro, small, and medium-sized businesses. It is critical to the success of any business, and although huge corporations have hired personnel to handle marketing of their products or services, micro (handicraft) and other small businesses lack the financial resources to engage in promoting crafts products. As we all know, finance is the lifeblood of any sector, allowing them to fight through any crisis. However, these businesses lack significant financial backing, making them self-reliant in making decisions about the well-being of their operations. Governments
This is a time when small businesses act as engines in the globalization era, promoting product innovation, broadening economic expansion, and having a strong presence in foreign markets. In the Globalized period, the entrepreneur’s entrepreneurial orientation is a crucial characteristic, as it is the entrepreneur who formulates the marketing strategy based on the firm’s performance (Gary Knight, 2000). The Marketing Support and Services Scheme is the only subsidiary of the handicraft industry that focuses on marketing efforts in domestic and international publicity through various modes of communication (Annual Report 2011-12, Ministry of Textile).
Tero and Erkki (1979) discovered that the design of a marketing or promotion strategy is based on many market conditions and objectives, such as non-adaptive, time-dependents, competitively adaptive, and sales-oriented. According to Yoram et al. (1973), sophisticated management approaches play a critical role in developing international marketing strategies, with four types of altitudes or orientations playing a key role: ethnocentrism (home country orientation), polycentrism (host country orientation), regiocentricism (regional orientation), and Geocentrism (global orientation) (a World orientation). On the basis of cost and benefits, these are dependent on the various market environments and intra-company considerations. According to Nigel et al. (2011), the importance of strategy management in marketing management is critical because traditional marketing approaches have not played a significant role in the real world of company. The strategy management of the educational organization and training center faces a difficult problem in designing and delivering education. Yihao as well.
According to R. Ramaswamy (2013), the handicraft promoting federation should play a significant role in increasing competition at the local, national, and international levels, and marketing research is an unavoidable part of marketing management that must know the test and preferences of customers in the craft markets. Diverse clusters have been working in various parts of the country, each with their own product specialties, such as Assam Bamboo crafts, and these clusters need to provide a common platform where they can exchange ideas and techniques about the crafts, which is also important for buyers and sellers. At this time, advertisements play an important part in making people aware of the items’ uses and availability.
STATEMENT OF PROBLEM
The increasing intensity of global market rivalry is a problem for companies at all phases of worldwide market participation. As markets open up and become more integrated, the speed of change quickens; technology shortens market distances and lowers giant firms’ scale advantages; new sources of competition arise; and competitive pressures rise at all levels of the organization.
The bulk of handicraft entrepreneurs sell their items locally and through agents, and they rarely promote their products internationally. This has been ascribed to a lack of marketing expertise as well as financial resources to support marketing activities. Exorbitant packaging and shipping expenses, high and ever-changing tariffs, certification and quality standards set by importer countries are the most major hurdles facing handcraft exporters.
OBJECTIVES OF THE STUDY
The study’s major goal is to discover the problems that handicraft entrepreneurs have when it comes to executing promotion tactics for their products. More specifically, the study aims to:
1. Research the issues of the Nigerian handcraft industry.
2. Examine the impact of such challenges on the expansion of the Nigerian handcraft industry.
3. Determine the effect of executing promotion techniques on handicraft business sales in Nigeria.
4. Propose a solution to the issues of the handcraft industry
RESEARCH QUESTIONS
1. How difficult is it to run a handicraft business in Nigeria?
2. Do these issues have any impact on the expansion of the Nigerian handicraft industry?
3. What effect does executing promotion techniques have on handicraft business sales in Nigeria?
RESEARCH HYPOTHESIS
Ho: Challenges have had no substantial impact on the growth of the handicraft industry in Nigeria.
Hello, difficulties have a big impact on the expansion of the handicraft industry in Nigeria.
SIGNIFICANCE OF THE STUDY
The findings of this study will be used as an empirical foundation for future policymaking in Nigeria on handicraft-related concerns. The outcomes of this study will provide valuable information to the government, which will be beneficial in shaping policy decisions aimed at creating an enabling climate for Nigerian handicrafts traders to participate in the worldwide market. The findings of this research project are a source of reference material for future research on related topics for academicians and researchers, and will also assist other academicians who are studying the same topic in their studies to restart undertaking activities aimed at reducing the challenges faced by handicraft traders in accessing the global market.
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