Marketing Capabilities, Orientation and Performance of Small and Medium Enterprises in Lagos State, Nigeria
No Thumbnail Available
Date
2024-12
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Lead City University, Ibadan
Abstract
SMEs account for the majority of business in most emerging economies; they are responsible for the majority of employment. Financial literacy and financial management have gotten policymakers and academic attention in wealthy nations, but there hasn't been much effort in underdeveloped countries, like Nigeria. The study examined the effect of marketing capabilities on the performance of small and medium Enterprises in Lagos State, Nigeria. The study anchored on Dynamic Capabilities Theory and Relationship Marketing Theory. The population for this study consists of directors of SMEs registered under NASSI Lagos chapter. The association has the following sectors: manufacturing, processing, mining, service industries, and others with 11667 registered SMEs. The sample size for this research work was determined using Morgan’s Sample Size Determinant Table to determine 378 sample sizes. Descriptive research design was adopted, with Simple random sampling techniques used to select the respondents for this study. Collected data were analysed using descriptive and inferential statistics. Structural equation modeling (SEM) was used to analysed the data
collected. The formulated hypotheses were analyzed using Partial Least Square (PLS) regression analysis to know the causal and direct effect and influence of the independent variables on the dependent variable and moderating variable. The results confirmed a significant relationship between marketing capabilities and the performance of small and medium Enterprises in Lagos State, Nigeria (Market Sensing R 2 0.590, Employee Performance R 2 0.018, environmental performance R
2 0.283, innovative performance R 2 0.052., moderation interaction 0.089). The study holds practical implications for businesses aiming to optimize their marketing strategies and resources for enhanced performance in the competitive business landscape. Therefore, SMEs are encouraged to prioritize strategic improvements in service delivery. This may involve adopting sustainable practices, enhancing customer satisfaction through efficient service delivery, and integrating environmental considerations into business operations.
Keywords: Marketing Capabilities, Marketing Orientation, Performance Small & Medium Enterprises
Word Count: 291
Description
Keywords
: Marketing Capabilities, Marketing Orientation, Performance Small &Medium Enterprises
Citation
Kate Turabia