Entrepreneurial Marketing Practices and Performance of Small and Medium Scale Enterprises in Nigeria

Abstract

The survival of entrepreneurs across the globe is not expressively guaranteed but requires the continuous application of an innovative entrepreneurial marketing practice. The research titled entrepreneurial marketing practices and performance of small and medium scale enterprises in Nigeria is written to examine the extent in which the application of entrepreneurial marketing practices affects the performance of small and medium scale enterprises in Nigeria. The research therefore reached respondents who are owners or managers of small and medium scale enterprises in Abuja, the federal capital territory. More so, the study reached these respondents using a structured questionnaire. The population of the study is all the owners or managers of small and medium scale enterprises in the federal capital territory which is considered infinite population considering the fact that apart from the fact that not all the SMEs in the federal capital territory are registered some are also mobile. The study adopts Godden sample size statistical formula which generated a sample size of 384. However, out of the total of 384 questionnaires distributed only 302 were duly completed and returned giving a retrieval rate of  79% . The data were analyzed using descriptive and inferential statistics and the multiple regression analysis was used in testing the hypotheses. The study concludes that entrepreneurial marketing practices of innovativeness, proactiveness, resource leveraging and calculative risk taking enhances performance of small and medium scale enterprises in the federal capital territory. Premised on the findings and conclusion the study recommends that the application of innovativeness as entrepreneurial marketing practices should not only be sustained but be integrated as a entrepreneurial strategy with the view to creating value for customers towards entrepreneurial growth and survival. Finally, the Nigerian entrepreneurs particularly the owners and managers of SMEs in the federal capital territory should consistently adopt and review proactive measures, financial leveraging and calculative risk taking with the view to pursuing firms’ immediate and strategic objectives.