The Effect of Marketing Strategy on Small and Medium Manufacturing Industries Performance Operating in Addiss Abeba, Ethiopia
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Date
2022-07
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Abstract
Small and medium manufacturing industries (SMMEs) use marketing strategies as one of their primary functional strategies to improve performance. The purpose of this study is to look at the impact of marketing strategy on the performance of small and medium-sized businesses in Addis Ababa. Only quantitative research methods and both descriptive and explanatory research designs were employed to address the research objectives and questions. Proportionate stratified and purposive sampling approaches were used to limit delimited the study. A structured questionnaire was prepared and given to a sample of 267 owners and/or managers of SMMEs in the three sub- cities to obtain quantitative data (Akaki kality, Bole, and Nifas silk). The descriptive and inferential analyses were used to examine the quantitative data. According to descriptive statistics, the mean score of marketing strategy characteristics such as STP, product, price, promotion, location, customer orientation, and relationship marketing leaned toward agreement. The dependent variable "performance" has a substantial connection with all independent variables. In this situation, relationship marketing was found to have a stronger link to performance. Similarly, the empirical findings of the multiple regression revealed that only six of the predictor variables product, place, promotion, pricing, Customer Orientation, and Relationship Marketing have a positive and significant effect on SMME Performance, but not price. These independent variables were likewise found to be significant joint predictors of performance, according to the findings. Finally, based on the study's findings, recommendations for SMMEs were given.
Key Words: Marketing Strategy, Product, Price, Promotion, Place, Customer Orientation, Relationship Marketing, Small and Medium Manufacturing industries, Performance