MARKETING STRATEGIES AND PERFORMANCE OF SELECTED SMALL AND MEDIUM ENTERPRISES (SMEs) IN CENTRAL SENATORIAL DISTRICT OF CROSS RIVER STATE, NIGERIA

Abstract

Small and medium-scale enterprises (SMEs) are an essential component of the nation’s economy, contributing in several ways, including creating money, opening up new employment opportunities, introducing innovations, and fostering competition. This research investigated the impact of marketing strategies on the performance of SMEs in the central senatorial district of Cross River State, Nigeria. The study specifically looks at the impact of micromarketing, marketing communication, and electronic marketing on the performance of SMEs. The researchers adopted the survey design. The questionnaire was the instrument administered to SME owners in the six local government areas that make up the central senatorial district, of which 375 copies were retrieved and completed in useable form. Hence, 375 formed the sample for the study. The obtained data were analyzed using percentages, and hypotheses were tested using multiple regression analysis. Findings from the study revealed that there is a significant relationship between marketing strategies (micromarketing, marketing communication, and electronic marketing) and the performance of SMEs. The study recommends that SME owners should pay special attention to marketing communication, as that is the strategy with the greatest impact on SME performance.

Keywords

• marketing strategies
• performance of smes
• micromarketing
• electronic marketing and marketing communication