Chapter One — 1.1 Background to the Study

Influencer Marketing has increasingly attracted the attention of researchers, regulators, and practitioners concerned with consumer buying behaviour. This growing interest reflects the recognition that influencer marketing does not operate in isolation, but interacts with a wider set of institutional and market conditions found within the Nigerian Capital Market.

Within the context of the Nigerian Capital Market, this relationship carries particular significance. Organizations in this setting operate under a distinct combination of economic, regulatory, and market conditions that may amplify or dampen the effect of influencer marketing on consumer buying behaviour, making a context-specific inquiry both timely and necessary.

1.2 Statement of the Problem

While influencer marketing is widely discussed in policy and industry circles, empirical evidence on its actual effect on consumer buying behaviour within the Nigerian Capital Market remains sparse and, in places, contradictory. This lack of localized, rigorous evidence makes it difficult for decision-makers to know with confidence whether current approaches to influencer marketing are helping or hindering consumer buying behaviour — a gap this study sets out to close.

1.3 Objectives of the Study

1. To examine the effect of Influencer Marketing on consumer buying behaviour in the Nigerian Capital Market.
2. To assess the extent to which influencer marketing influences consumer buying behaviour within the study area.
3. To identify the challenges associated with influencer marketing in relation to consumer buying behaviour.
4. To recommend strategies for optimizing influencer marketing in order to improve consumer buying behaviour.

1.4 Research Questions

1. What is the effect of influencer marketing on consumer buying behaviour in the Nigerian Capital Market?
2. To what extent does influencer marketing influence consumer buying behaviour within the study area?
3. What challenges are associated with influencer marketing in relation to consumer buying behaviour?
4. What strategies can be adopted to optimize influencer marketing in order to improve consumer buying behaviour?

1.5 Significance of the Study

This study is significant to a range of stakeholders. For policymakers and regulators, the findings offer evidence to guide the design of frameworks that support healthier outcomes around consumer buying behaviour. For managers and practitioners within the Nigerian Capital Market, the study provides practical insight into how influencer marketing can be better managed. Finally, it contributes to the academic literature on marketing by extending existing knowledge into a specific empirical context, and offers a reference point for future researchers.

1.6 Scope of the Study

In terms of scope, this study confines itself to the Nigerian Capital Market, focusing specifically on how influencer marketing relates to consumer buying behaviour within that setting. Findings are interpreted within these boundaries rather than as universal claims applicable to every organization or market.