Product Positioning Evaluation and Exploitation of Nigerian Solid Mineral Resources: A Vile for Transformation Agenda for Third World Countries

Abstract

The study focused on product positioning and exploitation of Nigerian solid mineral resources towards transforming third world countries. The specific objectives of the study were to examine the effect of product price, product quality and product differentiation on Nigerian solid mineral resources; Data were collected through a primary source. The population of the study was 218 which consisted of final year students of Marketing from University of Ilorin, Kwara State, Nigeria. These respondents were used due to their background knowledge in Marketing. The study utilized simple random sampling technique to select sample of 80 respondents for the study. 5-point likert scale option of structured questionnaire was used in the study to obtain respondents’ response. Content validity was used to determine the validity of the instrument by giving to research experts who modified and made the necessary correction to measure the instrument. Simple linear regression analysis was used to test the hypothesis. Three hypotheses were tested in line with the objectives of the study and it was revealed that there was a significant relationship between product price, product quality and product differentiation, and Nigerian solid mineral resources. The study suggested some recommendations as follows: Government agencies and major stakeholders affiliated with solid mineral resources in Nigeria should imbibe product price strategy in order to encourage high patronage for Nigerian solid mineral resources. Product quality should be embraced because it attracts foreign buyers to patronise Nigerian solid mineral resources. Government agencies and major stakeholders in charge of solid minerals in Nigeria should embark on product differentiation among mineral resources in Nigeria to command high patronage from foreign buyers.