Assessing the Impact of Longrich Network Marketing on Socio-economic Development in Yaoundé VI Sub-Division, Cameroon
Dominic Yenai Asaah
The ICT University, Cameroon.
Nkemngong Alem Arnold
The ICT University, Cameroon.
Penn Emmanuel Mbuh *
Lion Higher Institute, Cameroon.
Henry Jong Ketuma
The ICT University, Cameroon.
*Author to whom correspondence should be addressed.
Abstract
This research investigates the relationship between network marketing practices and socio-economic outcomes in local communities. The study emerged from the recognition that network marketing, particularly through Longrich, has become a prominent avenue for income generation and entrepreneurship in Yaoundé VI, amidst rising unemployment and economic instability. A quantitative research approach was employed, with a simple random sample of 120 Longrich participants in Yaoundé VI. Data were collected using a structured questionnaire based on a 5-point Likert scale, aimed at assessing the effects of network marketing technology, work ethics, and cost-effectiveness on socio-economic development. Exploratory factor analysis (EFA) was applied to identify relevant constructs, and regression analysis was used to test the significance of their impact. The findings revealed that network marketing significantly influences socio-economic development, with technology (p = 0.001), work ethics (p = 0.000), and cost-effectiveness (p = 0.000) each showing strong positive relationships with socio-economic progress. Specifically, the results demonstrated that work ethics accounted for 48.8% of the variance in socio-economic development, cost-effectiveness for 24.2%, and technology for 19.1%. Based on these findings, the study recommends the promotion of ethical practices, technology adoption, and cost-efficient strategies in network marketing, along with government support to enhance its contribution to local economic development.
Keywords: Network marketing, longrich; socio-economic development, yaoundé vi, entrepreneurship, economic growth