Open AccessProduct Elimination: The Nigerian Insurance Industry Experience
Author(s) -
Ben E. Akpoyomare Oghojafor,
Sunday Adekunle Aduloju,
Folake Olowokudejo
Publication year - 2012
Publication title -
international journal of business administration
Language(s) - English
Resource type - Journals
eISSN - 1923-4015
pISSN - 1923-4007
DOI - 10.5430/ijba.v3n2p74
Subject(s) - goodwill , order (exchange) , product (mathematics) , ranking (information retrieval) , government (linguistics) , business , actuarial science , process (computing) , test (biology) , empirical research , marketing , economics , computer science , finance , mathematics , paleontology , linguistics , philosophy , statistics , geometry , machine learning , biology , operating system
There is a growing interest in the way products are eliminated in order to prevent purchase discontinuity. The authors present an empirical study on the ways products are eliminated in the Nigerian insurance industry. Specifically, the papers examined the factors normally considered before elimination decisions are taken, and the key problems encountered during elimination stages. The data obtained from thirty-four insurance companies through a structured questionnaire were analyzed and a ranking of the variables relevant to the elimination process was provided. The kolmogorov-smirnov test was used to test the formulated hypotheses. Government policies and regulations as well as operational problems are the most important factors leading to elimination process. The paper also reports that the most difficult problem encountered during the elimination process is maintaining customer’s goodwill