Effects of Government Incentives on Sales Growth of Selected Industrial Firms in South- East, Nigeria (Published)
The study focused on the effects of government incentives on sales growth of selected industrial firms in South-East, Nigeria. The objective of the study was to examine the effect of government incentives on sales growth of selected industrial firms in South-East, Nigeria: The significant effect of government incentives on sales growth of selected industrial firms in south east, Nigeria will require management of industrial firms to focus on most lucrative and productive government incentives to improve on their marketing performance. Incentives help firms generate economies of scale in production and they can manage to sell excess domestic capacity with government formulated policies and support with institutional knowledge transfer to facilitate SMEs to industrial development in South East Nigeria. Improved marketing performance of industrial firms in south east, Nigeria will also improve the contribution of industrial firms sector to the gross domestic product of the economy. This will also imply increased tax payment by the firms to government, which will in turn make revenue available for societal development. The study adopted survey research design The population of the study was 12100 selected industrial firms in South-East, Nigeria. A sample size of 387 (Three hundred and eighty-seven) was drawn from the population using Taro yamani statistical formula. One hypothesis was formulated and tested with Simple Linear Regression model.. The major findings in the study showed that: there is a significant effect of government incentive on sales growth of selected industrial firms in South-East, Nigeria; This study has formed a body of knowledge (reference material) which has closed the gap identified in literature and which can also be cited by both present and potential researchers. Results of the study provided direction for management of industrial firms with respect to which government incentive to adopt in order to improve on marketing performance as well as where and how to direct available resources.. Hence, we concluded that successful investments in R&D result in innovative products and services that enable the company to improve its sales revenue. It implies that government subsidies can serve as effective catalyst that can boost the overall productivity of firms located within south east, thereby increasing their sales revenue and also their competitiveness We, therefore, recommended that firms in the south east zone should upgrade their activities relating to cost efficiency, quality, variety/diversification, responsiveness, acceptance of entrepreneurial risks, and a positive attitude towards change and innovation as prerequisites for surviving in a globalized market.
Keywords: Marketing Performance, government incentives, sales growth