Guerrilla Marketing Promotional Strategy, Self-Efficacy and Business Performance of SMEs in Ibadan Metropolis
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2022-12
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Lead City University
Abstract
Fulfilling long term organizational performance is a challenge in the present highly competitive business world. Guerrilla Marketing promotional strategy and self-efficacy have been identified as ingredients for business performance (BP) and global competitiveness among Small and Medium Enterprises (SMEs). Therefore, this study examined the influence of Guerrilla Marketing (GM) and Self-Efficacy (SE) on Business Performance (BP) among SMEs in Ibadan Metropolis. The study is anchored on AIDA Model, Social Cognitive and Balance Scorecard Theories. Multistage Sampling approach was deployed to select a sample size of 450 respondents. Data was collected through a validated questionnaire named Guerrilla Marketing, Self-Efficacy and Business Performance Questionnaire (GmSeBpQ) (r=795 to .909). Descriptive and inferential statistics were used to analyze data. Findings revealed that majority (72.1%) of SMEs in Ibadan Metropolis were highly aware of GM;
86.5% employ different GM strategies to boost businesses; 86.2% are in agreement that GM influences BP compared to other marketing practices. It was further revealed that the level of self-efficacy was high with (3.19) mean score; while the level of business was high with (3.23) mean score. Again, 86.5% of the SMEs were highly influenced by other entrepreneurial characteristics than self-efficacy. The study findings established that there was a positive influence of risk-taking (.196, p<0.05), innovation (.753, p<0.05) and management (.054, p<0.05) on the BP of SMEs in Ibadan while resilience (-.061, p<0.05) and financial control (-.136, p<0.05) had a negative influence on BP. Also, findings revealed that GM (0.713, p<0.05) had a significant influence on BP; and there is a joint positive influence of GM (.534, p<0.05) and SE (.272, p<0.05) on BP of SMEs. It is recommended that organisations both public and private should employ the use of GM and SE as they are boosts to business performance.
Keywords: guerrilla marketing, self-efficacy, business performance, integrated marketing communications, small and medium enterprises
Word Count: 290
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Kate Turabian