Effects of Marketing Strategies on the Performance of Small and Medium-Scale Enterprises in Kogi State

Momoh I Yalo ,Dare Joseph Enimola ,Akeem Tunde Nafiu

doi:10.7176/ejbm/11-7-03

Abstract

This study focused on the effects of marketing mix strategies on the performance of SMEs in Kogi State. To achieve the study’s objectives, a survey research design was adopted. A purposive sampling was used, and 300 respondents were selected. Findings show that promotion strategy relates negatively and significantly with sales and profitability performance of SMEs in Kogi State. Findings further show that distribution strategy significantly and positively relates with sales performance; while pricing strategy significantly and positively relates with the profitability performance of enterprises in Kogi State. The study concluded that marketing mix strategies have significant effects on sales and profitability performance of SMEs in Kogi State. The study recommends that SME owners should adopt less of promotion strategy to achieve high sales and profitability performance in the business environment of Kogi State, and that more aggressive distribution strategy and pricing strategy should be adopted to sustain sales and the profitability performance of their enterprises in Kogi State. Keywords : Marketing Environment, Marketing Strategies, Sales, Profitability DOI : 10.7176/EJBM/11-7-03 Publication date :March 31 st 2019

Highlights

Today, some SMEs are struggling to cope with the competition, and others have experienced improved performance in the business environment of Kogi State
Objectives of the Study The main objective of this study is to critically examine the effects of marketing mix strategies on the performance of SMEs in Kogi State
It is empirically verified that marketing mix strategies have significantly weak effect on sales performance of SMEs in Kogi State

Summary

Introduction

Some SMEs are struggling to cope with the competition, and others have experienced improved performance in the business environment of Kogi State. The successful SMEs have been observed for higher performance (in terms of sales and profitability) in Kogi State. This is perceived the antecedent of effective marketing mix strategies. Mustapha (2017) expressed that marketing strategy is an important tool for any SME to remain in competitive market environment and be stronger. The a-priori expectation is that marketing mix strategies influence increased profitability and sales of SMEs. Mustapha (2017) stressed that ineffective marketing strategy has negative effect on the organization’s performance, product quality, customer satisfaction and profitability The a-priori expectation is that marketing mix strategies influence increased profitability and sales of SMEs. Mustapha (2017) stressed that ineffective marketing strategy has negative effect on the organization’s performance, product quality, customer satisfaction and profitability

Objectives

Methods

Results

Conclusion