Abstract: Nigerian reserves have depleted terribly that the economy is at its brink. Import dependence has being found to account for this quagmire. For sustainable growth and development, Nigeria needs to turn the wheel of the clock. This paper examined the state of indigenous production specifically the ‘Aba Made’ (AM) goods that are cheap to buy but viewed as inferior quality, with a view to proffering ways for improving the standard to internationally acceptable quality for export. The study suggested the application of management accounting techniques and marketing strategies (MA-MS model) in the standardization process to manage cost of transformation of AM to national and internationally competitive product. The MA-MS model shows the application of knowledge in value analysis and value engineering to product quality control and quality assurance test. The dividend of such exercise in the standardization of product and market, would produce goods at affordable prices, and with international quality achieved, they would be exported and thus earn Foreign exchange (FOREX) for Nigeria for sustainable growth and development. The model ensures that quality is not sacrificed for huge profit. The study assessed the primary data source to ascertain the citizenry outlook on ‘AM’ goods as compared to foreign fairly used goods known as ‘Tokunbo’ (Toks). The primary instrument, the questionnaire was analysed using the non-parametric statistical tool- Wilcoxon signed rank test. Results from the field work revealed that majority of the respondents are aware of ‘AM’ products but prefer to buy ‘Toks’. Several reasons were adduced for that choice ranging from durability to cuteness. The hypothesis tested revealed that there is no statistical difference in the perception of preference for Toks against AM products among consumers and traders of Tokunbo. The study recommended among others, government’s intervention in terms of policy and implementation in Research and development, collaboration partnership, create enabling environment, Tariff- free importation of machines needed by such indigenous firms; funding support; and Improve quality for durability, rebranding and packaging to world’s best benchmark.
Keywords: Management, Accounting, Marketing, Strategies, Product, Standardization.
Title: EXTENDING MANAGEMENT ACCOUNTING TECHNIQUES AND MARKETING STRATEGIES: STANDARDIZATION OF NIGERIAN INDIGENOUS PRODUCTION FOR EXPORT
Author: Omorogbe, Comfort E.
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
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