Year: 2024 | Month: October | Volume: 11 | Issue: 10 | Pages: 495-509
DOI: https://doi.org/10.52403/ijrr.20241045
Marketing Strategies and Performance of Small and Medium Scale Enterprises (SMEs) in Ikare Akoko Ondo State
IKUDAISI, Olugbenga Lanre1, SOLOLA, Lawal S. (PhD)2, AYIBIOWU, Samuel Bamidele3
1Lecturer, Rufus Giwa Polytechnic, Owo
2Lecturer, Achievers University Owo, Ondo State Nigeria.
Corresponding Author: IKUDAISI, Olugbenga Lanre
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,
[PDF Full Text]