Crowdfunding and Marketing Performance of Microfinance Banks in Akwa Ibom State (Published)
Crowdfunding has developed from being just a fundraising tool to a versatile marketing tool. Raising funds through crowdfunding has become a vital tool for start-up companies and most recently in the Microfinance banks to obtain investments they otherwise might not receive from more traditional sources such as banks, angel investors and stock markets. This adoption of crowdfunding for marketing purposes is not without its problems. Organizations would be well advised to consider not only the opportunities these platforms provide, but also their limitations, risks and the best crowdfunding platforms that will fit into their marketing objectives. In this regard, this study was carried out in order to assess the relationship between crowdfunding and marketing performance of microfinance banks in Akwa Ibom State. The researcher adopted a survey research technique in the study. The population size 16 microfinance banks within Uyo metropolis of Akwa Ibom State and a sample size of 366 employees was studied. The crowdfunding variables (independent variables) considered in the study were Equity-based Crowdfunding, Reward-based Crowdfunding and Lending-based Crowdfunding. The dependent variable was Marketing Performance. The hypotheses stated were tested using Spearman Correlation Coefficient at a 5% level of significance. From the data analysis, the major findings revealed a positive and significant relationship between Equity-based Crowdfunding and marketing performance of microfinance banks in Akwa Ibom State, (R = 0.770; P<0.05). The study revealed Reward-based Crowdfunding has having a positive and significant relationship on marketing performance of microfinance banks in Akwa Ibom State, (R = 0.855; P<0.05). The study also revealed that there is a positive and significant relationship between Lending-based Crowdfunding and marketing performance of microfinance banks in Akwa Ibom State, (R = 0.805; P<0.05). From the findings, it was concluded that there was a positive and significant relationship between Crowdfunding and marketing performance of microfinance banks in Akwa Ibom State. In line with this, it was recommended that companies, start-up businesses and financial institutions should adopt various crowdfunding platforms in their businesses as one of the means of raising finance for the company in order to boost their marketing performance.
Citation: Ndifreke Akaninyene Eno, Unyime Emmanuel Udonde and Prof Ibok, Nkanikpo Ibok(2022) Crowdfunding and Marketing Performance of Microfinance Banks in Akwa Ibom State, British Journal of Marketing Studies, Vol. 10, Issue 6, pp.,1-22
Keywords: Marketing Performance, crowdfunding, equity-based approach, reward-based approach and lending-based approach
Electronic Marketing and Marketing Performance of Small and Medium Scale Enterprises in Akwa Ibom State, Nigeria (Published)
The researcher investigated the relationship between Electronic Marketing and Marketing Performance of Small and Medium Scale Enterprises in Akwa Ibom state. The study was born out of the fact that government at different levels have made policies and programs geared towards improving SMEs in the state but only a few of them have been able to live up to expectation. The main objective of this study was to examine the relationship between electronic marketing and marketing performance of small and medium scale enterprises in Akwa Ibom State. The researcher adopted survey design. Data were collected with the use of questionnaire. The sample size consisted of 366 SMEs operators selected using simple random sampling. Two hypotheses were formulated tested and analyzed using simple linear regression. It was found that there is significant relationship between the proxies of electronic marketing (social media marketing and SMS marketing) and marketing performance of SMEs in Akwa Ibom State with social media having the highest regression coefficient. In line with the findings, the researcher concluded that social media marketing and SMS marketing are key elements of electronic martmarketing which enhance the marketing performance of SMEs in Akwa Ibom State. The researcher recommended that SMEs that have not been using electronic marketing strategies (social media marketing and SMS marketing) to a large extent should do so in order to be competitive and enhance their performance.
Citation:: Samuel Etuk, Ini Smart Udoh and Eke Clement Udowong (2022) Electronic Marketing and Marketing Performance of Small and Medium Scale Enterprises in Akwa Ibom State, Nigeria, British Journal of Marketing Studies, Vol. 10, Issue 3, pp.59-74
Keywords: Electronic marketing, Marketing Performance, Small and Medium Scale enterprises.
Electronic Marketing and Marketing Performance of Small and Medium Scale Enterprises in Akwa Ibom State, Nigeria (Published)
The researcher investigated the relationship between Electronic Marketing and Marketing Performance of Small and Medium Scale Enterprises in Akwa Ibom state. The study was born out of the fact that government at different levels have made policies and programs geared towards improving SMEs in the state but only a few of them have been able to live up to expectation. The main objective of this study was to examine the relationship between electronic marketing and marketing performance of small and medium scale enterprises in Akwa Ibom State. The researcher adopted survey design. Data were collected with the use of questionnaire. The sample size consisted of 366 SMEs operators selected using simple random sampling. Two hypotheses were formulated tested and analyzed using simple linear regression. It was found that there is significant relationship between the proxies of electronic marketing (social media marketing and SMS marketing) and marketing performance of SMEs in Akwa Ibom State with social media having the highest regression coefficient. In line with the findings, the researcher concluded that social media marketing and SMS marketing are key elements of electronic martmarketing which enhance the marketing performance of SMEs in Akwa Ibom State. The researcher recommended that SMEs that have not been using electronic marketing strategies (social media marketing and SMS marketing) to a large extent should do so in order to be competitive and enhance their performance.
Citation: Samuel Etuk, Ini Smart Udoh and Eke Clement Udowong (2021) Electronic Marketing and Marketing Performance of Small and Medium Scale Enterprises in Akwa Ibom State, Nigeria, British Journal of Marketing Studies, Vol. 9, Issue 4, pp.1-17
Keywords: Electronic marketing, Marketing Performance, Small and Medium Scale enterprises.
PERCEPTION OF BANKS’ STAFF ON COMPETITION AND MARKETING STRATEGIES IN NORTH-EASTERN NIGERIA (Published)
The study focuses on the perceptions of banks’ staff with regards to competition in the Nigerian banking industry and the marketing strategies that the banks have employed to cope with the competition. The primary data for the study were obtained using a structured questionnaire administered on a sample of 100 staff of selected banks in Jimeta-Yola, the capital city of Adamawa state, North-eastern Nigeria. The data obtained from the questionnaire were analysed using percentages, mean, and the Pearson correlation analysis. The findings revealed that the top-5 factors influencing competition are the reputation or rating of banks, overall strategy adopted by the banks, effective deployment of ICT and associated facilities, incentives that individual banks give to their marketers and regulations/reforms by the government. Personal selling, relationship marketing and new product development were also found to be the dominant strategies employed by the bank as they significantly impact on customer and deposit attraction, new product adoption as well as marketing costs.
Keywords: Bank marketing, Competition, Environment, Marketing Performance, Marketing Strategies
An Assessment of Factors Affecting Marketing Performance of Firms Led by Female Executives (Published)
The purpose of this research is to identify and assess factors that affect marketing performance in firms whose management team are being led by women. This has become important because previous writers have expressed mixed feelings about the performance of such firms. The units for the research were 148 female executives/managers from some firms in the country. In selecting respondents for this study, the purposive sampling procedure was adopted since only women managers were being targeted. Based on the body of literature developed and the field work assessment, some hypotheses were proposed which were later on tested using the Pearson Chi-squared test. For the sake of this study, marketing performance was restricted to; the ability the make good sales, the ability to retain customers and the ability to maintain discipline in the firm. The above performance indicators were measured against some identified characteristics and issues concerning women. Issues such as; age of a woman, marital status of a woman, character of a woman, means of progression to top position within the firm and mode of remuneration for women leaders. Some of the findings of this study include the fact that; Ghanaian women affect sales performance if they are extrovert in character, above the age of forty (40), married, appointed into positions in the firm from outside the organization and remunerated on commission basis. Again, the ability to maintain discipline in a firm has no association with the mode of remuneration and the marital status of the woman
Keywords: Female Executives, Maintain Discipline, Marketing Performance, Means Of Progression, Retain Customers