ABSTRACT
This study examines the influence of marketing strategies on fast-tracking recovery of account receivables in Selected Market Intermediaries in Benin City, Edo State. The objectives of the study were to examine the relationship between discount offering, aftersales services, online payment and willingness to offer credit, to investigate the relationship between discount offering, aftersales services, online payment and the profitability/competitive advantage of a business, to find out the relationship between discount offering, aftersales services, online payment and the effectiveness of a business to recover debts, to verify the nature of relationship between gender and willingness to offer credit, profitability/competitive advantage, effectiveness of a business to recover debts, to identify the nature of relationship between years of experience and willingness to offer credit, profitability/competitive advantage, effectiveness of business to recover debts; to determine the relationship between industry type, years of experience and willingness to offer credit; to examine the relationship between e-online payment, e-discount offering, e-aftersales services and the effectiveness of a business to recover debts.
Respondents were selected from all market intermediaries (resellers) in Benin City, Edo state, Nigeria. The data were collected through personal administration of 50 questionnaires and had valid responses. The study also used frequency distribution, mean, standard deviation, t-test statistics analysis, multi regression analysis and tables as major statistical tools for data analysis and test of hypotheses.
The analysis revealed that there is no significant relationship between the independent variables (online payment, discount offering, after sales services) and the profitability/competitiveness of a business); that there is no significant relationship between the independent variables (online payment, discount offering, after sales services) and the willingness of business owner to offer credit); there is significant relationship between the independent variables (online payment, discount offering, aftersales services) and effectiveness of business to recover debts), there is no significant relationship between gender and the willingness of a business owner to offer credit, that there is no significant relationship between years of experience and effectiveness of business to recover debts; that there is no significant relationship between years of experience and willingness to offer credit and that no significant relationship was found between the independent variables (e-online payment, e-discount offering, e-after sales services) and effectiveness of business to recover debts.
Finally, the study recommends that there is need for Management of companies should employ more of online payment, discount offering, aftersales services which have been tested to significantly influence the level of debt recovery. Notwithstanding the low rate of adopting internet transformation among Nigerians, firm managers need to create more awareness on the need to employ internet payment system in debt recovery and management should hence tailor their marketing strategies to reflect more of aftersales services.
