The performance of small and medium scale enterprises (SMEs) plays a key role in the growth and development of any economy. Competitive Aggressiveness (CA) has been identified as instrumental to enhancing the control of sizable market share. However, lack of adoption of this important tool has been a challenge for these SMEs leading to decline in performances. The study hence, examined the effect of competitive aggressiveness on the market share of SMEs in Lagos, Nigeria. The study adopted cross-sectional survey research design. The population comprised 8,396 owner/managers of SMEs. The Research Advisors table was used to determine a sample size of 481. A validated questionnaire was administered to 481 respondents for data collection purpose but 430 came back correctly and were used for the study. The Cronbach’s alpha reliability coefficients of the constructs ranged from 0.71 to 0.84. The response rate was 89%. Data were analyzed using descriptive and inferential statistics. Findings revealed that Competitive aggressiveness does not have a significant effect on the market share of selected small and medium scale enterprises in Lagos state (β = 0.009, R = 0.015 R2, = 0.000, F(1, 428) = 0.100, p >0.05). The study concluded that Competitive aggressiveness does not have a significant effect on market share of small and medium scale enterprises in Lagos State, Nigeria. The study recommended that firms should intensify aggressive competitive effort by working smart, carrying employees along, effective bench marketing, and proper monitoring of operational activities by regulatory bodies. These activities if well executed will increase level of market share of the SMEs in Lagos State, Nigeria.
Organisations’ customers are the greatest asset they have to remain sustained and to retain these customers, effective sales promotion is required to push company’s products and services to various customers at satisfaction with view of making profit. However, some organisations especially those in consumable goods pay little attention to customers’ satisfaction by not imbibing effective sales promotion leading to poor sales performance and customers’ turnover. This study examines the effect of sales promotion on customer retention of selected food and beverages companies in Lagos, Nigeria. Survey research design was adopted for this study. The population of the study comprised of customers of Foods and Beverages (FandB) Companies estimated at 4,209,483 from the selected five local governments in Lagos State, Nigeria. Sample size of 1019 was derived via Krejcie and Morgan method and through simple random sampling technique. Data were elucidated from the respondents via research instrument. The Cronbach’s Alpha reliability co-efficient as well as the Kaiser-Meyer-Oklin (KMO) was established for both reliability and validity of the research instrument. Both descriptive and inferential statistics were adopted for analysis and the hypothesis was tested with simple linear regression. Result indicated that sales promotion had positive effect on customer retention of selected Foods and Beverages Companies in Lagos State Nigeria (R2=.367; t = 22.595; P<0.05). The study concludes that sales promotion has significant effect on customer retention and recommended that adequate promotional budget incentives should be considered by the F&B companies’ management to encourage effective sales promotion especially at special periods to boost sales and enhance customer retention. Quality food processing and safety measures should be enforced by the government through regulating agencies like National Foods and Drug Administration Council (NAFDAC), the Standards Organization of Nigeria (SON), and the Ministry of Health.
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.