Marketing Mix for Banking Sector Essay Sample
The deregulating of the Nigerian economic system through SAP affected the Nigerian fiscal system in many ways ( Umunnaehila. 1996 ) . These include methods of licencing new Bankss and fiscal establishments. the pricing of credits and sedimentations. foreign exchange direction. the sectoral matrix of credits and sedimentations. and banks’ subdivision networking. among others. The restructuring policy of SAP. besides. brought deregulatings in the Nigerian banking system which encouraged many new Bankss to come in into the Nigerian banking industry. the consequences of which were shown in intense competition within and without the Nigerian banking industry. This increased competition resulted in Bankss seeking for clients and planing services that would run into clients’ demands and wants. Consequently. Nigerian Bankss started planing new attacks and schemes to guarantee endurance and growing ( Umoh. 1992 ) .
However. the public presentation of Bankss in the Nigerian banking system does non look to hold been good plenty because while some Bankss appear to hold brought dynamism. challenges. competition. and growing in the banking sector. others seem to hold lost some of the assurance which their clients had in them. in add-on to hapless public presentation indices in their operations. which have resulted into all signifiers of hurt. This ill-defined nature of the effectivity of the attacks utilised by Nigerian Bankss to get by with alterations in the banking environment constituted the major research job of this survey.
The hapless status of some Nigerian Bankss is a map of some interconnected jobs. Harmonizing to Sheng ( 1991 ) . the causes of bank hurt. or hapless public presentation. are due to micro-economic factors ( bank direction patterns and schemes ) or macroeconomic factors ( environmental factors ) . Mamman and Oluyemi ( 1994 ) have. nevertheless. posited that bank failure/poor public presentation in Nigeria is a map of misdirection of relevant dimensions of organizational activities. Informed normative idea is of the feeling that high quality of direction is a major consideration which differentiates first-class ( effectual ) Bankss from less successful ( uneffective ) Bankss. and this is in contrast to the feeling that macro economic variables are the outstanding factors in all banking failures ( Aristobulo. 1991 ) .
Faced with the obliging demand to accomplish their organisational ends. Nigerian Bankss can research new avenues. attacks. schemes or patterns to accomplish set ends and aims. Many attacks can be used to accomplish set corporate ends and aims. These attacks are by and large called strategic direction. and the push on strategic direction has given rise to strategic selling ( Jain. 1983 ) . Marketing considerations. together with those of other functional countries of concern. play an of import function in planing and implementing corporate policies and schemes. Once corporate policies and schemes are designed and implemented. the function of selling is to lend to their accomplishment ( Cravens. Hill & A ; Woodruff. 1980 ) . Marketing success is a major determiner of organizational success ( Adler. 1967 ) . and the hereafter endurance and growing of any administration ( including Bankss ) in an economic system can be said to be a map of the efficiency and effectivity of its selling patterns ( Udel. 1972 ) .
The alterations in the Nigerian banking system demand the acceptance of efficient and effectual selling schemes. Nigerian Bankss need to set to the alterations in the banking industry. To understand and take advantage of the alterations in the industry. which may be chances or menaces. Nigerian Bankss need to understand the of import factors determining the Nigerian banking industry and the relevant strategic determinations to be taken. These strategic determinations must take into history the relevant competitory. economic. political. regulative. legal. technological. and socio-cultural factors. in add-on to sing their strengths and failings. among others.
Harmonizing to Johne and Davies ( 1999 ) organisations sing competitory concern menace can run expeditiously and efficaciously through the selling schemes of market invention ( i. vitamin E by bettering the mix of market sections served ) . merchandise invention ( i. e. by bettering the mix of merchandises and services offered to clients and clients ) and process invention ( i. e. by bettering the mix and efficiency of internal operations ) . By and large. it is claimed by marketing analysts and practicians that selling inputs are of import ingredients for accomplishing effectivity ( Day & A ; Reibstein. 1997 ; Kim & A ; Mauborgne. 1997 ; Johne. 1999 ) . Selling. besides. has been implicated as the most open organisational concern map to alterations in environmental factors ( Mann. 1980 ) . Therefore. selling of banking services in Nigeria requires a strategic attack in order to be efficient and effectual ( Nwachukwu. 1993 ) . Ads by Google
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This survey is likely to be utile to fiscal establishments. service houses. and professional directors who are invariably looking for marketing attacks. patterns and schemes that can be used to accomplish organizational ends and aims. Besides. authoritiess. organisations. and persons concerned with explicating banking policies and schemes can profit from this survey. Finally. this research survey is expected to excite research involvements among faculty members. bookmans. and pupils in other facets of bank services direction.
Selling schemes and tactics are concerned with taking determinations on a figure of variables to act upon mutually- fulfilling exchange minutess and relationships. Typically. sellers have a figure of tools they can utilize. and these include megagmarketing ( Kotler. 1986 ) and the alleged 4ps of selling ( McCarthy. 1975 ) . among others. This subdivision of the paper examines certain relevant dimensions of selling scheme and effectivity in the undermentioned subdivisions.
Researching the market for any merchandise or service is undertaken to garner relevant information and information that aid a figure of marketing direction determinations. which include the development of a new merchandise. alteration of an bing merchandise. the content of advertisement. pricing degree. distribution channels. client and client behavior. among others. The effectivity of marketing research is frequently studied in relation to specific selling determinations. Its importance as a selling variable has been recognized over clip ( Rothwell et al. . 1974 ; British Institute of Management. 1975 ; Baker & A ; Abou-Zeid. 1982 ; Connell. 1979 ; Takeuchi & A ; Quelch. 1983 ; Alexander. 1985 ; Walsh & A ; Roy. 1983 ; among others ) . It seems logical. hence. to speculate that market research has a positive influence on organizational performance/effectiveness. Given the dictate of the selling construct that the customer/client is. or should be. the focal point of the organisation. it is self-evident that marketing and market research be included in an organization’s operations that result into managerial effectivity.
However. probes of the being and effectivity of selling and market research have been called into some inquiry. Criticism by Ames ( 1970 ) . Wilson ( 1984 ) and King ( 1985 ) . among others. has emphasised that numbering the figure of caputs in marketing research sections. or gauging selling research budgets. focal points on the furnishings of selling. non its substance. While much research exists which can assist companies implement marketing research schemes and policies. comparatively small work has been done which suggests how these marketing research variables relate to organizational public presentation and effectivity. either in absolute footings or in relation to other selling factors ( Baker & A ; Hart. 1989 ) .
Some normative and empirical research workers have posited that. finally. organizational effectivity is a map of its merchandise or service policy ( Baker. 1985 ; Majaro. 1977 ; Borden. 1963 ; Aluko. 1983 ) . For illustration. “Price” is the monetary value of the merchandise or service. “advertising” is the advertisement of the merchandise or service. “distribution” is the distribution of the merchandise or service. and “promotion” is the publicity of the merchandise or service. All of these are merchandise considerations ( Kent. 1984 ) . NEDO ( 1977 ) published a survey on non-price factors act uponing export public presentation or effectivity. and one of the major facets of the research was defined as merchandise. including design. dependability. specification. bringing. and after-sales service.
The necessity of merchandise invention is widely recognised as being of critical importance. non merely to organisational and strategic effectivity. but besides to a state ( Baker. 1985 ; Kotler. 1980 ) . It is to be noted. nevertheless. that the many factors which comprise merchandise or service policy. ( such as merchandise distinction. design. public presentation. dependability. technological promotion. superior fabrication. new merchandise development. merchandise alterations. variegation. etc ) are organic ways of deriving competitory advantage and accomplishing organisational success and effectivity. King ( 1985 ) . in an appraisal of selling. makes the point that “Real” marketing’s take-off point is planing a merchandise or service to run into the demands and wants of a group of clients or clients. It embraces suitableness for intent. quality. design. handiness. after gross revenues service. and other facets of a customer’s/client’s relationship with a merchandise trade name.
The quality of a product/service can be enhanced by what Piercy ( 1982 ) calls ‘marketing intangibles’ . A figure of surveies have included ‘service’ on the list of factors separating merchandise success from failure. For illustration. in the list of strengths displayed by Nipponese industry. Baranson ( 1980 ) included ‘financial support’ and ‘after-sales service’ .
The gross revenues squad can be a beginning of competitory advantage and effectivity for a company. Piercy ( 1985 ) notes that the critical success factor ( CSF ) in the sampled companies was aggressive merchandising. Similarly. Baker and Abou-Zeid ( 1982 ) show that in award-winning British companies. personal merchandising was the most widely used method of publicity. A great trade has been written sing the comparative success of assorted merchandising manners and a assorted gross revenues properties. Complex theoretical accounts have been developed to help the determinations cardinal to the direction of gross revenues forces in the field. viz. : apportioning selling attempt and puting gross revenues force size ; territorial design ; gross revenues calculating ; rating and control ( Bestwick & A ; Cravens. 1977 ) . Gross saless volume is besides seen to be a map of environmental factors. company selling scheme and tactics. sales-force administration. and policies and processs such as administration. deployment of resources. recruiting and choice. preparation. wagess and inducements. rating and control ( Walker. Churchill & A ; Ford. 1979 ; Ryans & A ; Weinberg. 1981 ; Avlonitis. Boyle & A ; Kouremenos. 1985 ) . Personal merchandising is an of import selling tool. which depends for its success/effectiveness on a figure of factors such as administration. preparation. wage and motive. supervising. and rating ( Baker & A ; Hart. 1989 ) .
Contemporary strategic selling pattern calls for more than developing a good merchandise or service. pricing it adequately. and doing it available to aim clients or clients. Organizations should besides advance their merchandises and services to show and possible clients and clients. Udel ( 1968 ) identified selling publicities as the most of import aspect of marketing scheme taking to effectiveness. Advertising. an facet of promotional scheme. has both an enlightening and persuasive function. and in this regard can change customers’/clients’ perceptual experiences of a merchandise or service. As Pickering ( 1976 ) suggests. advertisement can increase trade name trueness. thereby decreasing monetary value snap through increased distinction. Bain ( 1956 ) posits that advertisement can hold a cumulative and long permanent consequence on organizational and strategic public presentation.
Some surveies have included monetary value on the list of critical factors. which determine success and effectivity. Atkin and Skinner ( 1975 ) . for illustration. uncover that companies regard pricing policy/strategy as being either critical or most of import to their concern public presentation and effectivity. Besides. Mikesell and Farah ( 1980 ) postulate that the diminution of the USA portion of the markets in developing states was chiefly due to monetary value factors.
By contrast. a figure of authors maintain that monetary value is the least of import determiner of demand. Posner and Steel ( 1979 ) . for illustration. postulate that non-price factors are paramount in advanced states. Such a position is upheld by the surveies of Kavis and Lipsey ( 1971 ) . Udell ( 1964 ) and Patchford and Ford ( 1976 ) . Obviously. there is great diverseness of position with respect to the comparative importance of monetary value and non-price factors in finding the success and effectivity of schemes and companies.
In add-on to the traditional selling mix elements ( i. e. . the alleged 4Ps of marketing ) of merchandise. monetary value. topographic point. and publicity. marketing executives can utilize the tool of megamarketing to accomplish selling aims ( Kotler. 1986 ) . Megamarketing is the strategically coordinated usage of economic. psychological. political. and public dealingss accomplishments to derive the co-operation and apprehension of some relevant parties in order to come in and/or operate in a given market expeditiously and efficaciously.
Selling is concerned with the direction of mutually-satisfying exchange minutess and relationships between and among the relevant parties. However. it is sometimes desirable to make extra inducements. services. and force per unit areas for non-customers/clients. Megamarketing. therefore. takes an hypertrophied position of the accomplishments and resources needed to come in and run in certain markets or sections. In add-on to fixing attractive merchandise or offers for clients or clients. megamarketing may utilize connexions with powerful people in places of authorization to corner selling occupations. Besides. state of affairss exist where markets in which the established participants or approvers have made it hard for companies with similar or even better selling offers to come in or run.
The troubles or barriers can be in signifier of prejudiced legal demands. political favoritism. trust understandings. societal or cultural prejudices. unfriendly distribution channels. and refusals to collaborate. among others. These challenges and troubles can be handled via megamarketing scheme. Sellers have traditionally defined selling environment as those external factors. which can non be controlled by an administration. But megamarketing postulates that environmental factors can be handled through lobbying. legal action. dialogue. public dealingss. among others ( Zeithaml & A ; Zeithaml. 1984 ) . Besides. traditionally. it is assumed and posited. through Say’s Law of economic sciences. that demand creates its ain supply. But some markets can be blocked sometimes. thereby making supply deficits. and this may ask the usage of megamarketing scheme.
An of import proposition in selling and economic sciences is that ingestion depends on availability/distribution ( Baker. 1980/81 ) . But despite its obvious importance. distribution remains a mostly ignored subject in selling ( Baker. 1992 ; Drucker. 1962 ) . The selling director has two cardinal options with regard to distribution scheme: he can either seek to work closely with mediators. or else presume their maps and force his merchandises or services through the distribution channel ; or he can seek to set up a franchise with ultimate consumers or clients and hence draw his merchandise or service through. Push strategies normally emphasize personal merchandising. while pull schemes tend to stress advertisement and gross revenues publicity ( Baker. 1992 ) . When choosing a channel of distribution for corporate effectivity. a selling director should pay particular attending to environmental factors. merchandise and market features. and company’s strengths and failings. among others.
When sing distribution policy and scheme. corporate selling directors might seek to derive competitory advantage by seeking a higher degree of customer/client service. In this context. customer/client service is seen to intend all facets of the distribution procedure. which add value to the exchange dealing from the customer/client position ( Wilson. Gilligan & A ; Pearson. 1992 ) . However. higher degrees of customer/client service can intend higher costs of distribution. and this might. therefore. cut down a company’s monetary value fight and effectivity. Wilson ( 1979 ) highlights the necessity to see costs as a whole since a decrease in one country can bring forth a disproportional addition in another country. For illustration. it might be cheaper and more efficient to utilize an expensive agencies of transit ( e. g. air ) than to keep a figure of local warehouses. The distribution scheme is perchance more hard to pull off than the other elements of the selling mix because its operational determinations involve other maps to a greater extent. It is possibly because of this organisational atomization of duty in distribution scheme activities that the thought of distribution as an integrative activity in concern has merely comparative and late developed ( Wilson. Gilligan & A ; Pearson. 1992 ) .
The demand for scrutinizing all the marketing-mix elements stems from alteration. and the distribution component of the selling mix has. possibly. been capable to more alterations than any other component of the selling mix in some states. For illustration. in the UK. significant alterations have been observed in containerisation. computerisation. and distribution channels ( Wilson. Gilligan & A ; Pearson. 1992 ) .
Harmonizing to Chen ( 1999 ) . in an industry. which is every bit complicated as the fiscal industry. there is no simple expression. which can foretell successful and unsuccessful organisations from the environing environment. Critical Success factors ( CSFs ) and a company’s competitory ability and capableness are the outstanding ingredients for competitory advantage ( Bamberger. 1989 ) . Therefore. an appropriate designation of a bank’s CSFs can supply an avenue for measuring and constructing up its effectivity and competitory advantage ( Sheng. 1999 ) . Corporate concern scheme ( in selling. operations/production. finance. and forces. among others ) has been identified as an effectual scheme that influences resource allotment. competitory advantage. and accordingly. corporate efficiency and effectivity ( Hofer & A ; Schendel. 1978 ) . This research focused on the effectivity of marketing schemes in Nigerian Bankss.
This subdivision of this paper presents the informations aggregation and analysis attacks used in this survey. Specifically. the chapter describes the survey population. sample size. research instruments. and informations analysis techniques. among others.
Population and Sample Size
The population for this survey consisted of the Bankss in Nigeria. most of them holding their central offices in Lagos State of Nigeria. These Bankss were the commercial Bankss. the merchandiser Bankss. development Bankss. and community Bankss. The Bankss ranged from little to big Bankss runing in Nigerian metropoliss. communities. and small towns.
The information for this survey. which was a subset of a larger survey. were collected from a sample of thirty-nine accredited Nigerian Bankss runing in Lagos State of Nigeria. All the four large Nigerian Bankss ( First Bank. Union Bank. United Bank for Africa. and Afribank ) were included in the sample. These four large Bankss at a clip accounted for more than 60 per centum ( 60 % ) of banking activities in Nigeria ( Ndekwu. 1994 ) . Since the usage of simple random trying would hold resulted in an over-representation of the little Bankss ( Kim & A ; Lim. 1988 ) . the thirty- nine Bankss were selected on the footing of graded sampling technique.
Subject ( Ss ) for the research survey consisted of marketing executives in the sampled thirty-nine Nigerian Bankss. The respondents consisted of Assistant General Managers. Senior Managers. Managers. Assistant Managers. and Officers responsible for marketing activities in their Bankss. The ages of these respondents ranged from 26 to 53 old ages. The working experience of the respondents ranged from 2 to 33 old ages. with most of the respondents holding really high formal instruction ; merely five respondents had Diploma certifications in banking. Besides. one respondent had a grade of Ph. D. while one hundred and seventy seven ( 177 ) respondents had Bachelors and Masters grades with professional makings in banking and accounting. One can. therefore. anticipate that these respondents were qualified plenty to measure the selling schemes and effectivity of their several Bankss. Therefore. topic to the usual methodological restrictions imposed by a study research attack. the information gathered for this research may be regarded as a rich information set.
Three hundred and 40 ( 340 ) transcripts of the research instrument ( questionnaire ) were administered to marketing executives of the sampled thirty- nine licensed Nigerian Bankss runing in Lagos State of Nigeria. To acquire the co-operation of the respondents. the nature and intent of the research survey were explained to the respondents. The respondents were. besides. promised complimentary transcripts of the research study ( as response incentive ) if they so desired.
Using senior bank executives who were undergoing a six-month preparation at the University of Lagos Nigeria. a pilot survey of three Nigerian Bankss was undertaken in order to prove and better the research instrument. Besides. during the pilot survey. cross-interviews were conducted. whenever possible. with top executives of some Nigerian Bankss who were non respondents to the pilot survey. This was done to better the quality of the research instrument.
Of the 340 transcripts of the questionnaire. 194 transcripts were returned. Merely 183 transcripts of the returned questionnaire were found completed and useable. ensuing in an effectual response rate of 54 % . This response rate is moderately better than some response rates in old surveies affecting Nigerian managers/executive ( Michell & A ; Agenmonmen. 1984 ; Okoroafo. 1993 ) . Harmonizing to Chen ( 1999 ) . a response rate of 38 % is typical of study research works affecting Bankss. Besides. there is the possibility that respondents were more likely than non-respondents to prosecute in strategic selling pattern.
Section A of the research instrument required the respondents to bespeak the accent their Bankss have placed on specific facets of selling schemes utilizing a six-point graduated table runing from “Very high emphasis” ( 5 ) to “No accent at all” ( 0 ) . Section B consists of subdivisions B1 and B2. Subsection B1 of the research instrument required the topics to supply some quantitative informations of their banks’ public presentation with regard to average gross earning. mean market portion. mean selling cost as a per centum of entire cost. and mean net income before revenue enhancement. Subsection B2 asked respondents to bespeak the comparative effectivity of their banks’ selling schemes in accomplishing their banks’ public presentation steps. runing from “very effective” ( 5 ) to “Not effectual at all” ( 0 ) .
Section C of the research instrument asked respondents to supply some of their personal informations ( age. working experience. educational making. and the position/title of respondent ) . Respondents were besides. asked to name five managerial jobs impacting the effectivity of strategic selling patterns in their Bankss. and were required to propose solutions to the identified jobs. These identified jobs and solutions were utilized in discoursing the findings of this research survey.
Operationalization of Research Variables
Two major variables were used in this research. They include marketing scheme variables. and bank public presentation variables. Marketing Strategy Variables were developed from relevant literature ( Udel. 1972 ; Kotler. 1986 ; Bush & A ; Brobst. 1979 ; Baker & A ; Hart. 1989 ) . These marketing scheme variables include merchandise scheme. promotional scheme. pricing scheme. distribution scheme. and mega-marketing scheme. These five wide selling scheme variables were operationalised into twenty- seven ( 27 ) points.
Bank public presentation variables were both quantitative and qualitative. Quantitative bank public presentation variables were provided by respondents in the questionnaire on mean gross earning. mean market portion. mean selling cost. and mean net income in the last five old ages. Qualitative informations on bank public presentation were obtained from respondents’ perceptual response on the extent to which the undermentioned public presentation steps have been achieved utilizing their banks’ selling schemes: Net income. Market portion. Selling cost. Gross net incomes. Capital employed. Asset quality. Quality of selling direction pattern. Liquidity. Employee turnover of top selling staff. Management of departmental crisis.
The selling public presentation steps were developed from the plants of Mathew. Buzzell. Levitt. and Frank 1964. and the modified bank performance/CAMEL steps of Adewunmi ( 1985 ) . which comprise Capital adequateness. Asset quality. Management pattern. Net incomes. and Liquidity ( CAMEL ) .
The normative and empirical plants of Leithmann and Hulbert ( 1972 ) . Lassitz and Greene ( 1975 ) . Kinnear and Taylor ( 1983 ) . Levine ( 1981 ) . Blalock ( 1979 ) . Wimmer and Dominik ( 1987 ) . Perry ( 1981 ) Nie et Al ( 1975 ) . Labovitz ( 1970. 1975 ) . Abelson and Turkey ( 1970 ) . Tips ( 1975 ) . McNemar ( 1972 ) and Ekpo-Ufot. 1992. among others. provided the rational prop for the measuring graduated table. dependability and cogency. and the information analysis methods used in this research.
The dependability of the research instrument was determined by utilizing the Levine ( 1981 ) version of split-half dependability trial and Cronbach alpha expression. Split-half dependability coefficients were non calculated for some of the steps in the research instrument because these steps did non run into the status for spilt-half method ( Goode & A ; Hatt. 1952 ) . The deliberate dependability coefficients met Srinivasan’s ( 1985 ) acceptableness standard of 0. 7 or higher dependability values. Furthermore. Chen ( 1999 ) posits that a dependability coefficient of 0. 5 or higher is considered sufficient when covering with explorative research combined with nullified informations. Statistical analysis used included descriptive statistics and Pearson’s merchandise minute correlativity analysis. All the information analysis process ( descriptive statistics and Pearson’s merchandise minute correlativity analysis ) was accomplished utilizing the IBM SPSS/PC+ computing machine bundle. Data analysis was done at 95 % assurance degree or higher
RESULTS AND DISCUSSION
Effectiveness of Strategic Marketing Practices
Table 2. 0 presents the descriptive statistics of the effectivity of strategic selling patterns of the studied Bankss. The determination shows that strategic selling patterns have been moderately effectual in Bankss. with strategic selling effectivity being highest in C26 ( plus quality ) . C25 ( capital employed ) and C2 ( liquidness ) . The kernel of strategic selling is to accomplish set aims. and these aims can be measured in footings of net income. market portion. selling cost. gross net incomes. capital employed. plus quality. quality of marketing direction. liquidness. turnover of marketing staff. and direction of section crisis. The effectivity of strategic selling pattern in the studied Bankss is promoting. with the highest degree of effectivity ( 96. 1 % ) shown in plus quality. capital employed. and liquidness. These are the CAMEL steps of public presentation.
Harmonizing to Umoh ( 1992 ) . the effectivity of banks’ schemes determines the endurance and growing of banking system in Nigeria. particularly in an ever-changing banking environment. and it is conventional in banking to measure the effectivity of a bank through the CAMEL ( C = Capital Employed ; A = Assets quality ; M = quality of Management ; E = Earnings. and L = Liquidity ) step. Effective bank direction through strategic selling aids in the employment of capital raised. and manages the banks’ plus portfolio in feasible concern options so that the assets are seen to be executing and giving returns. The selling schemes of Bankss. in order to demo sensible degrees of effectivity along the CAMEL steps. have to stress a selling direction squad with foresight. experience. and commitment towards the endurance and growing of the bank. among others.
Oluyemi ( 1995 ) posits that the most widely recognized step of public presentation of accredited bank is current profitableness. which is measured in footings of return on assets and return on equity. For illustration. return on equity measures the extent to which banks’ strategic selling patterns have created value from the financess provided by bank proprietors. A Nigerian bank that creates relatively big sums of value ( in relation to its equity ) through is strategic selling patterns can be said to demo high degree of effectivity. And as table 2. 0 shows. the studied Bankss have shown appreciable degrees of effectivity utilizing the identified steps of public presentation.
The Relationship Between Emphasis on Marketing Strategy Variables and Performance Measures
Table 3. 0 presents the correlativity between accent on dimensions of selling scheme ( B1 1 to B1 32 ) and quantitative steps of public presentation ( C1 I to C1 four ) . The important quantitative selling public presentation steps of mean gross net incomes ( C1i ) . mean market portion ( C1ii ) . selling cost ( C1iii ) . and mean net income ( C1iv ) were predicated to be positively associated with accent on each of the selling schemes.
Sixty of the 128 coefficients ( 47 % ) are statistically important at 95 % assurance degree or higher. The information can. therefore. be accepted as above opportunity.
The best forecaster of gross net incomes ( C1i ) is pricing scheme ( B1 30 ) with a correlativity coefficient of 0. 4219. P