The Impact of Marketing Innovation on Economic Development in Nigeria: A Literature Review


Bari, Md Akramul and Ismail, Hishamuddin and Islam Khan, Mohammad Tariqul and Bari, Ahsanul (2023) The Impact of Marketing Innovation on Economic Development in Nigeria: A Literature Review. Journal of System and Management Sciences, 12 (6). pp. 468-486. ISSN 1816-6075, 1818-0523

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Marketing innovation is one of the keys to increasing a nation’s economy. It is said that economic growth is an increase in national output that leads to a rise in the average per capita GDP. (GNP) additionally, increasing the average per capita GNP is insufficient to convey the implied or predicted value of economic growth. (World situation) Marketing innovation is becoming more intense towards the economic development in Nigeria. It is to be noted that there is a distinct lack of literature on the effect of marketing innovations on Nigeria's economic growth. While the country's economic growth has improved, it has not been evenly distributed. Since business activity appears to decide the degree of economic growth in each society, marketing innovation becomes an indicator of economic development. (Nigeria situation) The article review aimed to look at previous research on the effect of marketing innovation on Nigeria’s economic growth. Natural resources aren't enough for Nigeria to compete, as shown by the pattern and descriptions provided. As a result, this study suggests that marketing innovation be viewed as a primary driver of Nigeria's economic growth. Government and private sector efforts can therefore be made to invest in human capital creation and R&D to generate the ground power for exponential growth. In addition, this study also focused on the main findings of each study conducted. This study also examines the methodology of the study used. The findings of this study are intended to help future researchers research the impact of marketing innovation on economic development in Nigeria. In addition, this analysis indicates several research topics for future study.

Item Type: Article
Uncontrolled Keywords: economic development, marketing innovation, small and medium enterprises (SMEs), gross national product (GNP)
Subjects: H Social Sciences > HB Economic theory. Demography > HB848-3697 Demography. Population. Vital events
Divisions: Faculty of Business (FOB)
Depositing User: Ms Nurul Iqtiani Ahmad
Date Deposited: 11 Apr 2023 02:57
Last Modified: 11 Apr 2023 02:57


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