Product Elimination: The Nigerian Insurance Industry Experience

Ben E. Akpoyomare Oghojafor, Sunday Adekunle Aduloju and Folake Feyisayo Olowokudejo

International Journal of Business Administration, 2012, vol. 3, issue 2, 74-83

Abstract: There is a growing interest in the way products are eliminated in order to prevent purchase discontinuity. The authors present an empirical study on the ways products are eliminated in the Nigerian insurance industry. Specifically, the papers examined the factors normally considered before elimination decisions are taken, and the key problems encountered during elimination stages. The data obtained from thirty-four insurance companies through a structured questionnaire were analyzed and a ranking of the variables relevant to the elimination process was provided. The kolmogorov-smirnov test was used to test the formulated hypotheses. Government policies and regulations as well as operational problems are the most important factors leading to elimination process. The paper also reports that the most difficult problem encountered during the elimination process is maintaining customer¡¯s goodwill.

Keywords: Product Elimination; Insurance Products; Financial Services (search for similar items in EconPapers)
Date: 2012
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