Strategies for Lease Volume Enhancement: Study of the Nigeria Lease Market 2001-2011

A. E. NDU OKO, Isu Hamilton O.

Abstract


The Nigeria lease market given the relatively poor per capita income, but willingness among the high economic
population to spend and the growth in the oil gas industry as well as road transportation compared to other
African nations ought to record higher volume of lease transactions. Contrary to expectations, the lease volume
has remained low. It is in doubt if the total lease volume recorded in Nigeria would have generated enough profit
to sustain the number of firms that are actively involved in sales-(marketing) of lease services; if these firms
were solely involved in lease businesses. The relatively low volume of lease transactions suggests that the
market capacities are grossly under utilized. This is evidenced as the work compared the situation in Nigeria
with South Africa based on survey research method; with special interest on the marketing principles, strategies
and policies for lease service marketing. Results show that the Nigeria lease marketing activities experience
inefficiency sequel to poor control of administrative and legal costs, low level of customer services among others.
Hence lease sales volume is low. Thus strategies for lease volume enhancement as recommendations are
discussed to include: creation of competitive advantage, specialization in lease marketing, customer services
flexibility, enhanced funding ability among others.

Full Text: PDF DOI: 10.5539/ibr.v6n8p38

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International Business Research  ISSN 1913-9004 (Print), ISSN 1913-9012 (Online)

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