Innovative Marketing Skills and Business Performance of Small and Medium Scale Enterprises (SMEs) in Akwa Ibom State, Nigeria (Published)
This study was carried out to examine the effect of innovative marketing skills and business performance of small and medium scale enterprises (SMEs) in Akwa Ibom State, Nigeria. Anchored on the disruptive innovation theory, the study adopted the survey research design as its approach. The population for the study was 576 SMEs in Akwa Ibom State as obtained from the Ministry of Industry and the Association of Entrepreneurs and Artisan in Akwa Ibom State. The Taro Yamene’s formula was used in determining the sample size of 236. Data were obtained from both primary and secondary sources. Four hypotheses were raised, analyzed and tested statistically using the simple regression analytical tool. The results of the analysis showed statistically significant and positive effects of the independent variables (improved product quality, attractive pricing patterns, creative promotional strategy, and distribution network) on business performance of SMEs in Akwa Ibom State. Based on the findings, it was recommended that owners of small and medium scale enterprises in Akwa Ibom State should offer products whose quality satisfies various needs of the consumer, engage a strong market orientation through the adoption of attractive pricing strategies (such as, conducting market research, and understanding their unique selling proposition) and adopt integrated marketing communication in the promotion of their products. SMEs owners should clearly define their target customer service level and how to reach them. Finally, they should analyze what competitors are doing in order to improve upon those activities.
Citation: Ekong J.E., Mfon A.A., and Ibok N.I. (2023) Innovative Marketing Skills and Business Performance of Small and Medium Scale Enterprises (SMEs) in Akwa Ibom State, Nigeria, International Journal of Business and Management Review, Vol.11, No. 3, pp.48-64
Keywords: Business Performance, Innovative marketing skills, Small and Medium Scale Enterprises (SMEs), attractive pricing patterns, creative promotional strategy, distribution network, improved product quality
Relationship between Risk-Taking and Business Performance among Small and Medium Enterprises in Eldoret Town, Kenya (Published)
The measure of entrepreneurial activity in an organization is the level of creativity and innovation across all its operations. How intense the creative and innovative disposition is determined by the success of organizations as reflected in performance outcomes. The purpose of the study was to examine the relationship between entrepreneurial intensity and performance of small and medium enterprises in Eldoret town, Kenya. Informed by the study, this paper explores the influence of risk-taking on the performance of SMEs in Eldoret town. The study adopted an ex-post facto research design. It targeted all the SMEs in Eldoret town. Systematic sampling technique was adopted to select a sample of 100 SME owners/managers to be involved in the study. The collected data was analysed using both descriptive and inferential statistics. Descriptive statistics was presented in form of percentages, frequencies, pie charts and graphs. Pearson correlation was employed to test the hypotheses of the study. The study established that there is a strong positive correlation between risk-taking and business performance of SMEs in Eldoret town. Therefore, committing business resources to venture in uncertain and unfamiliar environments could result in increased returns and market share for the business.
Keywords: Business Performance, Eldoret Town, Kenya, Medium Enterprises, SMEs, Small, risk-taking
THE IMPACT OF BUSINESS PROCESS MANAGEMENT ON BUSINESS PERFORMANCE SUPERIORITY (Published)
The objective of this study is to measure the impact of business process management on organization’s business performance superiority. The study adopted the approach of business processes management life cycle as a basis for detecting the idea of superiority. The sample included (89) managers, and their opinions and responses were used to describe (process identification and design, process modeling and documentation, process monitoring and controlling, and process optimization , in addition to describe the dimensions of business performance superiority, operational and competitive. Multiple regression analysis method was used to test the idea of the study model, to highlight the contribution of business process management to interpretation of organization’s business performance superiority. Sustained superiority requires organization managers to support business processes orientation financially and morally within the business entrepreneurship window, under uncertainty environment, characterized by risk and changeable as future perspective of the value of organization’s business performance superiority.
Keywords: Business Performance, Business Process Management, Superiority