Background: Changes in the Zimbabwean political landscape led to various socio-economic transformations. One being the small and medium-sized manufacturing enterprise (SME) sector becoming a dominant player in the economy. The success of SMEs positively impacts the economy. The use of appropriate and effective marketing practices accounts for the survival and growth of SMEs. Purpose of study:The study explores the marketing practices adopted by small and medium-sized manufacturing enterprises in Zimbabwe. The specific objectives are to (1) examine how SME owners or managers perceive marketing in the manufacturing sector; (2) examine the role of marketing in SMEs in the manufacturing sector; (3) explore the strategic market planning of manufacturing SMEs in Zimbabwe; and (4) analyse the marketing strategies adopted by SMEs in the manufacturing sector. Design/Methodology/Approach:The study adopted a qualitative approach to gather data from fifteen conveniently sampled owners/managers of SMEs using interviews. Thematic analysis was employed for data analysis.Results/Findings: Findings of the study revealed that manufacturing SMEs are familiar with some marketing concepts. These marketing concepts include marketing environment analysis, customer satisfaction, relationship marketing, customer loyalty and competitive advantage. Fundamental to the practice of marketing M MASHINGAIDZE M BOMANI E DERERA Marketing practices for Small and Medium Enterprises: An exploratory study of manufacturing firms in Zimbabwe
Strategy formulation has traditionally been associated with large corporates (Damke, Gimenez, & Damke, 2018). The literature on strategy formulation is rich, but this literature does not capture the intricacies of small and medium enterprises (SMEs) in emerging markets (Ahmed & Mukhongo, 2017). The study aims to gain an understanding of strategy formulation practices among the SMEs in emerging markets, particularly Zimbabwe. The philosophy of interpretivism guided the study. The study adopted a qualitative case study strategy in which data collection was conducted through semi-structured interviews with 15 manufacturing SME owners/managers in Harare, Zimbabwe. The results of the study revealed that the majority of participants understand strategy formulation and are greatly involved in strategy formulation. However, the study revealed that strategy formulation is not logically and systematically done thus does not resemble the conventional textbook strategic formulation models. Theoretically, the findings revealed that strategy formulation in SMEs is both an externally (market-based) and internally (resource-based) guided practice. The study advises SMEs to balance professionalism and responsiveness when strategising, that is balancing the process perspective with the learning perspective. The study was conducted in one city; similar studies could be conducted in other parts of the world to find similarities and differences.
Although SMEs are responsible for addressing sustainable development in Zimbabwe (Tinarwo 2016:148), these enterprises are faced with many challenges that negatively affect their performance Background: The role of strategy formulation in enhancing the performance of small and medium enterprises (SMEs) has attracted much attention amongst researchers worldwide. However, little research has been conducted on the strategy formulation practices of SMEs and their implications for the perceived financial performance of these firms, especially in the developing world.Aim: This study was aimed at establishing the impact of strategy formulation on the perceived financial performance of SMEs in Zimbabwe.Setting: Primary research was conducted in Harare, the capital city of Zimbabwe. Methods:The study took a case study design in which the researcher collected data from manufacturing SMEs in Harare, Zimbabwe. Stratified random sampling was employed to draw 368 questionnaire respondents from the five manufacturing classes that emerged from the population. Data were analysed using both descriptive and inferential statistics. Results:The study established that strategy formulation is somewhat prevalent amongst SMEs in Zimbabwe. The five strategy formulation activities as put forward by the theory are found in Zimbabwean SMEs. The results revealed that strategy formulation significantly influences both short-term and long-term perceived financial performance of SMEs in Zimbabwe. Conclusion:The study has implications at a practical and managerial level. Whilst supporting SMEs is commendable, governments should prioritise the provision of management and entrepreneurial training for SMEs to foster the adoption of strategy formulation. This study suggests that SMEs should make strategy formulation a priority, a key ingredient to the success of their enterprises. It is necessary to inculcate the necessary culture, which supports effective strategy formulation. The study proposes suggestions for future research.
The chapter investigated the COVID-19-induced challenges faced by women entrepreneurs in Zimbabwe, the strategies used by women entrepreneurs to survive the COVID-19 crisis, and the government support needed by women entrepreneurs to recover from the pandemic. A quantitative research approach using a structured questionnaire was adopted for gathering data. Empirical findings illustrate that women entrepreneurship in Zimbabwe faces a multiplicity of challenges due to the COVID-19 pandemic. Additionally, findings indicate that women entrepreneurs are cutting down costs, have introduced new delivery channels, and have reviewed their business models to become more resilient. However, women entrepreneurs also expect the government to offer readily accessible finances, arrange for skills and capacity-building training in response to the new normal, and craft economic recovery policies and packages that are tailored to specifically respond to the needs of women entrepreneurs. The study has both theoretical and practical implications.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.