This study explored the role of social media strategy in the performance of SMEs in Oyo state, Nigeria. Specifically the study identified the various types of SMEs using Social Media for marketing, examined the relationship between social medial strategy and SMEs performance, and determined the factors influencing adopting social medial strategy by SMEs in Nigeria. The population of this study was comprised one thousand four thousand and fifty eight (1,458) SMEs that registered with the SMEDAN, while one hundred and thirty two (132) was selected as a sample size for the study. The data collection instrument for the study was a structured questionnaire and personal interview. Data analysis was performed with the aid of descriptive and inferential statistics. The result showed that Facebook, Twitter and LinkedIn are the major social media employed by the SMEs to exploit competitive advantage. The result also revealed that build brand awareness, promote products and/or services, and collect customers feedback are the majors principal factors influencing adoption of the social media strategy by SMEs. In conclusion, the study confirmed that there a significant relationship between social medial strategy and SMEs performance. Subsequently, the study recommended that Small and Medium Enterprises Development Agency of Nigeria should sensitize the SMEs operators on how to make use of social media strategy and benefits accrued to its usage. Also, government should provide conducive business environment that will enable SMEs to thrive.
Innovation is widely regarded as one of the most important sources of sustainable competitive advantage in an increasingly changing environment. However, many Nigerian manufacturing industries do not invest so many resources on the utilization of modern technologies, as this makes for the decline in the designing and development of new products. This study examined the effect of product innovation on the performance of manufacturing sector with particular reference to Nigerian Breweries Plc. Purposive sampling technique was used to select 70 respondents from various departments. Structured questionnaire was employed to collect the data, while weighted mean score, chi-square and analysis of variance were used to analyze the data. Result revealed that product innovation has significant effect on sales volume. Findings also indicated that positive relationship exist between product innovations, customer satisfaction, changes in consumer taste and preference. The study therefore concluded that product innovation is an alternative paradigm to organizational performance in a global competitive environment. Subsequently, the study recommended that management of manufacturing organizations should leverage on product innovation, as this type of innovation is found to be important instrument for achieving sustainable competitive power.
The challenge many medium sized hotels have today is how to effectively promote their services, bearing in mind the enormous cost of using traditional media to achieve the desired effects. Thus, marketers may have to embrace Entrepreneurial Marketing which is the practice of marketing with entrepreneurial mind set. Hence, this study examined the impact of Entrepreneurial Marketing on performance of medium-size hotel businesses in Ibadan, Nigeria. The data were collected through questionnaire administered to random sample size of 154 hotels and convenient sample of 2 senior staff from each of selected hotel. The data was analyzed using descriptive, regression and correlation statistical methods. The study concluded that Entrepreneurial Marketing (i.e. Guerrilla and Viral Marketing strategies), as it is related to promotion, have significant impact on and relationship with performance (i.e. sales growth and brand image creation) of Medium-size hotel enterprises in Ibadan, Nigeria. The study recommended that Hotel Entrepreneurs should embrace Guerrilla Marketing because of its direct and positive impact which is cost effective; and that they should embrace Viral Marketing because of its direct and positive impacts which are global reach, high speed contact and twoway communication.
Today, customers are looking for benefits from the bank, better service, lower transaction fees, higher interest rates, a sign of prestige, new products access from different channels. This study evaluates the influence of CRM dimensions on bank performance. Zenith Bank Plc was selected through purposive method, while judgmental sampling technique was also used to select Head of Operation, Accountant, Auditor, and Branch Manager from its 35 branches in Lagos, Nigeria, totaling 140 respondents as a sample size for the study. Multiple regression analysis, Ordinary Least Square (OLS) method of estimation was employed to analyze the data. Results revealed that CRM dimensions (customer involvement, long-term relationship with customers, joint problem-solving and information sharing) jointly and independently influence bank performance measured by customer satisfaction, deposit mobilization and profit level. Subsequently, the study recommended that management of Nigerian banks should be actively involved in changes in organization in order to spread positive vision of CRM concept and to support organizational change.
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