Blue Ocean Strategy and the Marketing Performance of Small-Scale Business Enterprises (SSBEs) in Lokoja, Kogi State, Nigeria

Abstract

Purpose: The study investigates the influence of Blue Ocean Strategy on marketing performance of Small Scale Business Enterprises (SSBEs) in Kogi State, North-Central Nigeria. The specific purpose of the study was to examine how Blue Ocean Strategy (BOS) influences SSBEs performance in achieve goals relative to the traditional competitive strategy.

Research Methods: To achieve the study objectives, a survey research design was employed. Data for the study was gathered through a questionnaire designed in five point likert scale of strongly agree to strongly disagree. The data were collected from both staff of SSBEs and customers.  130 top management, middle and lower level management staff of the SSBEs and 147 customers conveniently selected for the study out of which 260 was cumulatively completed and returned. The data collected were analyzed using descriptive statistics such as tables, mean and standard deviation. While parametric statistical instrument used was multivariate multiple regressions for testing of hypotheses formulated to guide the study.

Results: The study revealed a significant positive influence of the independent variable as represented by Blue Ocean Strategy (BOS) on the dependent variables marketing performance (MP) as represented by: market shares, customer retention, and sales volume representing marketing performance of SSBEs in Lokoja, Kogi State.

Limitations: The study is a case study focused on SSBEs in Kogi State, North-Central Nigeria only whereas there are other geographical zones of Nigeria that was not touched by the study. This may impair the generalization of the findings of the study. Carrying out similar studies in other geo-political Zones of Nigeria is recommended for further studies.

Novelty: Although there are several studies on SSBEs in Nigeria and across the globe, none of the studies to the best of the knowledge of the researchers have used BOS to examine the marketing performance of SSBEs the way this study has done most especially in Nigeria and Kogi State North-Central Nigeria in particular.