KIJHUS Volume. 2, Issue 2 (2021)

Contributor(s)

Nafiu Ibrahim Olawale, Hassan Olanrewaju Makinde, Nafiu Akeem Tunde
 

Keywords

Product Quality Performance Marketing Strategy Competitive Advantages Market Share
 

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ADOPTABLE STRATEGIES IN MARKETING AND MARKET OUTCOMES: EXAMINING THE PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN KOGI STATE

Abstract:

This study focused on adoptable strategies in marketing and market reaction with reference to Small and Medium Enterprises in Kogi State. The study examined marketing strategies, customer’s satisfaction and the market share of SMEs in Kogi State. Descriptive research design was employed. The study’ universe was 1,027 SMEs; from which the sample size of 142 was drawn. Multistage random sampling technique was applied. For data analysis, descriptive statistics, Multiple Regression and Correlation Matrix were used. Finding showed that specialization strategy (promotion strategy and price strategy) has significant effect on market share of SMEs in Kogi State. Finding further showed that relationship exists between differentiation strategy and customer’s satisfaction. The study concluded that specialization strategy takes care of how the best price is tagged, and that when SMEs focus on differentiation strategy (product quality, product content, operation process, and innovation) customers’ expectations will be met. The study recommended among others that SME owners should ensure that both promotion strategy and price strategy are not combined together as this can cause varying performance outcomes.