Int. J. Bus. Manag. Soc. Res. | Volume 09, Issue 01, 508-515 | https://doi.org/10.18801/ijbmsr.090120.52
Article type: Review paper, Received: 22.04.2020; Revised: 03.05.2020 and Published online: 15 August 2020.
Article type: Review paper, Received: 22.04.2020; Revised: 03.05.2020 and Published online: 15 August 2020.
Effect of market penetration on the performance of small and medium scale enterprises in Makurdi metropolis, Benue State, Nigeria
Adamu, G.
Department of Business Administration, Nasarawa State University, Keffi, Nasarawa State, Nigeria.
✉ Corresponding author: krisik25@gmail.com (Adamu, G.)
Department of Business Administration, Nasarawa State University, Keffi, Nasarawa State, Nigeria.
✉ Corresponding author: krisik25@gmail.com (Adamu, G.)
Abstract
The study examined the effects of market penetration on the performance of small and medium scale enterprises in Makurdi Metropolis, Benue State, Nigeria from a population of 512 and a sample of 225 and were randomly selected. Multiple regression analysis was used as method of data analysis. Market segmentation, product packaging and product pricing all had a positive effect on performance of small and medium enterprises in Makurdi Metropolis, Benue State and the effect is statistically significant (p<0.05). Sales Promotion was negatively related to performance of small and medium enterprises in Makurdi Metropolis, It was concluded that in other to penetrate the market, entrepreneurs can use each or a combination of the market penetration strategies into an existing market. It was recommended among others that entrepreneur should ensure that effective promotion is carried out to create a good image of the products and services of the enterprise to the eyes of the customers.
Key Words: Pricing, Penetration, Market, Bonus, Promotion, Performance and Nigeria
The study examined the effects of market penetration on the performance of small and medium scale enterprises in Makurdi Metropolis, Benue State, Nigeria from a population of 512 and a sample of 225 and were randomly selected. Multiple regression analysis was used as method of data analysis. Market segmentation, product packaging and product pricing all had a positive effect on performance of small and medium enterprises in Makurdi Metropolis, Benue State and the effect is statistically significant (p<0.05). Sales Promotion was negatively related to performance of small and medium enterprises in Makurdi Metropolis, It was concluded that in other to penetrate the market, entrepreneurs can use each or a combination of the market penetration strategies into an existing market. It was recommended among others that entrepreneur should ensure that effective promotion is carried out to create a good image of the products and services of the enterprise to the eyes of the customers.
Key Words: Pricing, Penetration, Market, Bonus, Promotion, Performance and Nigeria
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Citations of This Article:
MLA
Adamu. “Effect of market penetration on the performance of small and medium scale enterprises in Makurdi metropolis, Benue State, Nigeria”. International Journal of Business, Management and Social Research, 09(01) (2020): 508-515.
APA
Adamu, G. (2020). Effect of market penetration on the performance of small and medium scale enterprises in Makurdi metropolis, Benue State, Nigeria. International Journal of Business, Management and Social Research, 09(01), 508-515.
Chicago
Adamu, G. “Effect of market penetration on the performance of small and medium scale enterprises in Makurdi metropolis, Benue State, Nigeria”. International Journal of Business, Management and Social Research, 09(01) (2020): 508-515.
Harvard
Adamu, G. 2020. Effect of market penetration on the performance of small and medium scale enterprises in Makurdi metropolis, Benue State, Nigeria. International Journal of Business, Management and Social Research, 09(01) pp. 508-515.
Vancouver
Adamu, G.. Effect of market penetration on the performance of small and medium scale enterprises in Makurdi metropolis, Benue State, Nigeria. International Journal of Business, Management and Social Research, 2020 August 09(01), 508-515.
Adamu. “Effect of market penetration on the performance of small and medium scale enterprises in Makurdi metropolis, Benue State, Nigeria”. International Journal of Business, Management and Social Research, 09(01) (2020): 508-515.
APA
Adamu, G. (2020). Effect of market penetration on the performance of small and medium scale enterprises in Makurdi metropolis, Benue State, Nigeria. International Journal of Business, Management and Social Research, 09(01), 508-515.
Chicago
Adamu, G. “Effect of market penetration on the performance of small and medium scale enterprises in Makurdi metropolis, Benue State, Nigeria”. International Journal of Business, Management and Social Research, 09(01) (2020): 508-515.
Harvard
Adamu, G. 2020. Effect of market penetration on the performance of small and medium scale enterprises in Makurdi metropolis, Benue State, Nigeria. International Journal of Business, Management and Social Research, 09(01) pp. 508-515.
Vancouver
Adamu, G.. Effect of market penetration on the performance of small and medium scale enterprises in Makurdi metropolis, Benue State, Nigeria. International Journal of Business, Management and Social Research, 2020 August 09(01), 508-515.
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International Journal of Business, Management and Social Research, EISSN 2412-8279.
