Innovation Dimensions and Market Share of Selected Manufacturing SMEs in Ogun State, Nigeria

Abstract

Market share as one of the indications of firm's performance is experience continuous setback due to lack of innovation. As such, this study investigated the effect of innovation dimensions on the market share of selected manufacturing small and medium enterprises (SMEs) in Ogun State Nigeria. Survey research design was adopted, 504 owners and managers of 126 manufacturing firms were sampled and data collated. Multiple regression analysis was adopted and the result shows that innovation dimensions had positive significant effect on the market share (Adj R 2 = 0.740; F(4,429)= 308.686, p<0.05).It was concluded that innovation affect market share and it was recommended that owners should focused on continuous adoption of innovation or improvement in product, process, systems and inputs in order to expand their market share aspiration.