Several studies have revealed that insurance companies are experiencing low patronage and they have recommended the use of promotional strategy to create awareness and to boost customer patronage. However, research revealed that there are seven basic promotional tools that most companies in the service industry can use in their promotional mix. Thus, this paper applied the Analytic Hierarchy Process model (AHP) to assist managers in the Nigerian insurance companies evolve a promotional strategy by determining the best mix of the promotional elements to use, given certain criteria. To achieve this goal, the survey approach was used. The multistage sampling technique was used to select a sample of sixteen (16) insurance companies out of a population of 49 insurance companies in Lagos metropolis and questionnaires were administered to managers of these companies.
The COVID-19 pandemic affected all sectors of the economy, including small and medium enterprises (SMEs). However, it has been observed that while some SMEs succumb to the pandemic, others thrive. Therefore, the study investigates the influence of market orientation and entrepreneurial orientation as well as their dimensions on the performance of SMEs in the COVID-19 era. A cross-sectional research design was adopted in the study. The data were collected through a questionnaire administered to 385 SME owners and managers in Lagos State, Nigeria. 328 copies of the questionnaire, representing 85.1%, were retrieved and used for the analyses. The results of structural equation modeling revealed that entrepreneurial orientation and its dimensions significantly influenced SME performance. Innovativeness and pro-activeness positively influenced performance, while risk-taking negatively influenced performance. Furthermore, the findings indicate that market orientation and its dimensions have no significant influence on SME performance during COVID-19. The insights from the findings will help SME owners and managers to run their operations in a challenging business environment. It will also help SME development agencies in their efforts to encourage SME growth and long-term viability.
AcknowledgmentsThe authors appreciate the SME owners and managers who served as respondents for the study.
Internet banking is an essential component of banking. However, most bank customers in Nigeria do not make optimal use of the service. The paper investigates the influence of behavioral characteristics, security risk and perceived service quality on internet banking usage. A research model was developed by incorporating security risk to the antecedent variables of the Theory of Planned Behavior with perceived service quality serving as a mediator. A questionnaire was utilized to gather information from 333 bank customers who had signed up for internet banking. According to the results of structural equation modeling, internet banking usage is positively correlated with subjective norm, perceived behavioral control, and perceived service quality. Security risk, on the other hand, has a negative correlation. The use of internet banking is unaffected by one’s attitude. Regarding the relationship with perceived service quality, attitude and subjective norm were insignificant, while perceived behavioral control and security risk were significant. The mediating effect indicates that perceived service quality did not mediate the association between attitude and internet banking usage. However, subjective norm, perceived behavioral control and security risk partially mediate the relationship. Thus, aside from attitude, the study confirms the Theory of Planned Behavior. The findings provide essential insights into internet banking usage behavior, which is relevant to bank managers and industry regulators.
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