Marketing Strategies and Performance of Small and Medium Scale Enterprises (SMEs) in Ikare Akoko Ondo State

Marketing strategies has been a functional desire and a method for attaining all-inclusive business success. This paper examined effect of marketing strategies on the performance of Small and Medium Enterprises in Ikare Akoko. A descriptive research design was employed. Sample size of 350 was drawn from a population of 2825 which comprised selected registered SMEs owners in Ikare Akoko. Multiple Regression Technique was used to test research hypothesis. The findings obtained revealed that marketing strategy (promotion marketing strategy, price marketing strategy, place marketing strategy, and product marketing strategy) significantly influence performance of SMEs in Ikare Akoko. The research concluded that marketing strategy (product strategies, promotion strategies, price strategies and place strategies) have a significant and positive impact on performance of SMEs in Ikare Akoko. Hence, the paper recommended that SMEs in Nigeria should establish varieties of quality products with new features and design. This will increase many customers to patronize their products. They should also charge equitable price, position suitably to the final consumers. More so, Management of the SMEs in Ikare Akoko should ensure that they increase effort in product advertisement in order to enhance promotional strategy in the organisation. Finally, SMEs should continually ensure goods and services produced reach final consumers or users by locating convenient place for their varieties products. Keywords: Marketing Strategies, Performance, Price Strategies, Promotion Strategies, SMEs,

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Journal
International Journal of Research and Review
Published
2024-10-25
DOI
https://doi.org/10.52403/ijrr.20241045
Primary Topic
Working Capital and Financial Performance
Type
article
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article

Marketing Strategies and Performance of Small and Medium Scale Enterprises (SMEs) in Ikare Akoko Ondo State

Olugbenga Lanre Ikudaisi, Lawal S. SOLOLA
International Journal of Research and Review
Working Capital and Financial Performance
article

Marketing Strategies and Performance of Small and Medium Scale Enterprises (SMEs) in Ikare Akoko Ondo State

Olugbenga Lanre Ikudaisi, Lawal S. SOLOLA
article en

Abstract

Marketing strategies has been a functional desire and a method for attaining all-inclusive business success. This paper examined effect of marketing strategies on the performance of Small and Medium Enterprises in Ikare Akoko. A descriptive research design was employed. Sample size of 350 was drawn from a population of 2825 which comprised selected registered SMEs owners in Ikare Akoko. Multiple Regression Technique was used to test research hypothesis. The findings obtained revealed that marketing strategy (promotion marketing strategy, price marketing strategy, place marketing strategy, and product marketing strategy) significantly influence performance of SMEs in Ikare Akoko. The research concluded that marketing strategy (product strategies, promotion strategies, price strategies and place strategies) have a significant and positive impact on performance of SMEs in Ikare Akoko. Hence, the paper recommended that SMEs in Nigeria should establish varieties of quality products with new features and design. This will increase many customers to patronize their products. They should also charge equitable price, position suitably to the final consumers. More so, Management of the SMEs in Ikare Akoko should ensure that they increase effort in product advertisement in order to enhance promotional strategy in the organisation. Finally, SMEs should continually ensure goods and services produced reach final consumers or users by locating convenient place for their varieties products. Keywords: Marketing Strategies, Performance, Price Strategies, Promotion Strategies, SMEs,

International Journal of Research and ReviewVol. 11(10)
Kwara State Polytechnic (NG), Rufus Giwa Polytechnic
Industry, innovation and infrastructure
Openalex Percentile: Top 69%
Working Capital and Financial Performance
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