Asian Institute of Research, Journal Publication, Journal Academics, Education Journal, Asian Institute
Asian Institute of Research, Journal Publication, Journal Academics, Education Journal, Asian Institute

Economics and Business

Quarterly Reviews

ISSN 2775-9237 (Online)

asian institute research, jeb, journal of economics and business, economics journal, accunting journal, business journal, managemet journal
asian institute research, jeb, journal of economics and business, economics journal, accunting journal, business journal, managemet journal
asian institute research, jeb, journal of economics and business, economics journal, accunting journal, business journal, managemet journal
asian institute research, jeb, journal of economics and business, economics journal, accunting journal, business journal, managemet journal
crossref
doi
open access

Published: 01 June 2021

Effect of Entrepreneurial Marketing Dimensions on Small and Medium Enterprises Performance in Nasarawa State

Hindu Jibril Amin

Baze University, Nigeria

asian institute research, jeb, journal of economics and business, economics journal, accunting journal, business journal, management journal

Download Full-Text Pdf

doi

10.31014/aior.1992.04.02.356

Pages: 196-208

Keywords: Entrepreneurial Marketing, Innovativeness, Nasarawa State, Risk-Taking, SME Development, Value Creation

Abstract

Entrepreneurial Marketing (EM) Dimensions play a critical role in small and medium enterprises (SMEs) performance. The extant study explored the effect of EM dimensions on the performance of SMEs operating within Nasarawa State, Nigeria. EM was conceptualized as innovativeness, risk-taking, and value creation. The research population was 1979 registered SMEs in Nasarawa state, Nigeria. The sample size was 322 which was determined using Raosoft sample size calculator. Out of 322 sets of questionnaire distributed, 136 were validly filled and returned. The data collected were analyzed using Regression Analysis technique to test the study’s hypotheses using Statistical Product and Service Solutions software. Results specify that all three of the EM dimensions under study have significant effect on SME performance. In terms of contribution to the model, the explanatory variables were able to contribute 62.1 percent to the variable of interest (SME performance). On individual basis, innovativeness explained the most to the criterion variable. The findings of this study offer important insights for owners and managers of SMEs, researchers, and policymakers to further understand the effects of EM dimensions on SMEs’ performance. SMEs should be encouraged to embrace the entrepreneurial dimensions of innovativeness, risk taking, and value creation to increase business performance.

References

  1. Ayyagari, M., Beck, T., & Demirgüç-Kunt, A. (2007). Small and medium enterprises across the globe. Small business economics, 29(4), 415-434.

  2. Bandara, K., Jayasundara, J., Gamage, N, Ekanayake, E., Rajapackshe, P., Abeyrathne, G. & Prasanna, R. (2020). Entrepreneurial Marketing & Performance of Small & Medium Enterprises in Developed and Developing  Economies: A Conceptual Exploration.

  3. Barney J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management Sciences, 17(1), 99-120.

  4. Becherer, R. C., Helms, M. M., & McDonald, J. P. (2012). The effect of entrepreneurial  marketing on outcome goals in SMEs. New England Journal of Entrepreneurship, 15(1), 3.

  5. Bowen, F. E., Rostami, M. & Steel, P. (2010) timing is everything: A meta-analysis of the Relationships between organizational performance and motivation, Journal of Business Research, 63 (11): 1179-1185

  6. Casillas, J. C. and Moreno, A. M. (2010). The relationship between entrepreneurial orientation and growth: The moderating role of family involvement. Entrepreneurship and Regional Development, 22(3-4), 265-291.

  7. Carson, D. & Gilmore, A. (2000). Marketing at the interface: not ‘what’ but ‘how’. Journal of marketing theory and practice, 8(2), 1-7.

  8. Cohen, J. (1988). Statistical power analysis for the behavioural sciences (2nd ed.). Hillsdale, New Jersey: Lawrence  Erlbaum.

  9. Collinson, E. (2002). The marketing/entrepreneurship interface. Journal of Marketing Management 3 (4), 337{340.

  10. Collinson, E. and E. Shaw (2001). Entrepreneurial marketing a historical perspective on development and practice. Management Decision 39 (9), 761{766.

  11. Covin, J. G., & Miller, D. (2014). International entrepreneurial orientation: conceptual considerations, research themes, measurement issues, and future research directions. Entrepreneurship Theory and Practice, 38(1), 11-44.

  12. Cronbach, L.J. (1951). Coefficient alpha and the internal structure of tests. Psychometrika, 16(3),  297-334.

  13. Day, G. S., & Montgomery, D. B. (1999). Charting new directions for marketing. The Journal of Marketing, 63(4), 3-13.

  14. Dewan, S., Shi, C., & Gurbaxani, V. (2007). Investigating the risk–return relationship of  information technology investment: Firm-level empirical analysis. Management science, 53(12), 1829-1842.

  15. Durbin, J., & Watson, G.S. (1950). Testing for serial correlation in least squares regression I. Biometrika, 37(4), 409-428.

  16. Eggers, F., Niemand, T., Kraus, S., & Breier, M. (2020). Developing a scale for entrepreneurial marketing: Revealing its inner frame and prediction of performance. Journal of Business Research, 113, 72-82. 9

  17. Ekaterina, P. and Utz, D., 2014. The impact of market orientation on Business Performance: The Case of Tatarstan Knowledge-Intensive Companies, Russia. Problems and Perspectives in Management, 12, pp.225-231.

  18. European Union 2018 https://ec.europa.eu/growth/smes/businessfriendly-environment/performance-review en (accessed on 25 April 2019).

  19. Fatoki, O. (2019). Entrepreneurial Marketing and Performance of Small and Medium Enterprises in South Africa. Journal of Reviews on Global Economics, 8, 1429-1437.

  20. Frese, M., Brantjes, A., & Hoorn, R. (2002). Psychological success factors of small scale  businesses in Namibia: The roles of strategy process, entrepreneurial orientation and the environment. Journal of developmental Entrepreneurship, 7(3), 259-282.

  21. Gamage, S. K.N., Ekanayake, E. M. S., Abeyrathne, G. A. K. N. J., Prasanna, R. P. I. R.,  Jayasundara, J. M. S. B.,  & Rajapakshe, P. S. K. (2019). Global Challenges and Survival Strategies of the SMEs in the Era of Economic Globalization: A Systematic Review.

  22. Gamage, S. K. N., Ekanayake, E., Abeyrathne, G. A. K. N. J., Prasanna, R. P. I. R., Jayasundara, J. M. S. B., & Rajapakshe, P. (2020). A review of global challenges and survival strategies of small and medium enterprises (SMEs). Economies, 8(4), 1-24.

  23. Gilmore, A., & Coviello, N. (1999). Methodologies for research at the marketing/entrepreneurship interface. Journal of research in marketing and entrepreneurship.

  24. Gorica, K., & Buhaljoti, A. (2016). Entrepreneurial Marketing: Evidence from SMEs in Albania. American Journal of Marketing Research, 2(2), 46-52.

  25. Gronroos, C. (1990). Relationship approach to marketing in service contexts: The marketing and organizational behavior interface. Journal of Business Research, 20(1), 3-11.

  26. Hacioglu, G., Eren, S. S., Eren, M. S., & Celikkan, H. (2012). The effect of entrepreneurial marketing on firms’ innovative performance in Turkish SMEs. Procedia-Social and Behavioral Sciences, 58, 871-878

  27. Hadiyati, E., & Lukiyanto, K. (2019). The Effect of Entrepreneurial Marketing Dimensions On Micro, Small, and Medium Enterprise Performance in Indonesia. International Journal of  Scientific & Technology Research, 8(10).

  28. Hair, F.J, Anderson, R.E., Tatham, R.L., & Black, W.C. (1998). Multivariate data analysis with readings,(Fifth Edition). Prentice-Hall, Upper Saddle River, New Jersey.

  29. Hair J.F. (Jr), Black W.C., Babin B.J. and R.E., Anderson, R.E. (2018). Multivariate data  analysis (8th ed.). Stamford, USA: Cengage Learning.

  30. Hills, G. and R. LaForge (1992). Research at the marketing interface to advance  entrepreneurship theory. Entrepreneurship Theory and Practice 16 (3), 33{59.

  31. Hisrich, R. (1992). The need for marketing in entrepreneurship. Journal of Business & Industrial Marketing 7 (3), 53{57.

  32. Hoque, A. S. M. M., Awang, Z., & Gwadabe, U. M. (2018). The Effect of Entrepreneurial Marketing on Bangladeshi SME performance and the Role of Organizational Culture: A Structural Equation Modelling. Journal of Management and Operation Research, 1, 1-21.

  33. Hoy, F. (2008). Organizational learning at the marketing/entrepreneurship interface. Journal of Small Business Management, 46(1), 152-158.

  34. Hoyer, W. D., Chandy, R., Dorotic, M., Krafft, M., & Singh, S. S. (2010). Consumer co-creation in new product development. Journal of Service Research, 13(3), 283-296.

  35. Hughes, M. and Morgan, R.E. (2007). Deconstruction the relationship between  entrepreneurial orientation and business performance at the embryonic stage of firm growth. Industrial Marketing Management, 36(5), 651-661.

  36. Hussain, J., Ismail, K., & Akhtar, C. S. (2015). Market orientation and organizational performance: case of Pakistani  SMEs. Arabian Journal of Business and Management Review, 5(5), 1-6.

  37. Jawad, H., Fayaz, A.S. and Shoaib, Ch. A., 2016. Market Orientation and Organizational  Performance in Small and Medium Sized Enterprises: A Conceptual Approach. City University Research Journal, 6, pp.166-180.

  38. Jimenez, D., & Sanz-Valle, R. (2011). Innovation, organizational learning and Performance. Journal of Business Research (64).

  39. Keller, G. (2018). Statistics for management and economics (11th ed.). Stamford, USA: Cengage Learning.

  40. Kilenthong, P. (2012). An empirical investigation of entrepreneurial marketing and the role of entrepreneurial orientation (Doctoral dissertation, University of Illinois at Chicago).

  41. Kilenthong, P., Hills, G. E., & Hultman, C. M. (2015). An empirical investigation of entrepreneurial marketing dimensions. Journal of International Marketing Strategy, 3(1), 1-18.

  42. Kotler, P. (2011). Reinventing marketing to manage the environmental imperative. Journal of Marketing, 75(4), 132-135.

  43. Kumar, A. (2012). Using phenomenological research methods in qualitative health research. International Journal of Human Sciences, 9, 790-804 doi: 10.14687/ijhs

  44. Kumar, M., Abdul Talib, S. & Ramayah, T. 2013. Business Research Methods. New York: Oxford University Press.

  45. Kumar, V., Jones, E., Venkatesan, R., & Leone, R. P. (2011). Is market orientation a source of sustainable competitive advantage or simply the cost of competing? Journal of marketing, 75(1), 16-30.

  46. Kutner, M.H., Nachtsheim, C.J., & Neter, J. (2004). Applied linear regression models, (Fourth Edition). McGraw Hill/Irwin, Chicago, IL.

  47. Linton, G., & Kask, J. (2017). Configurations of entrepreneurial orientation and competitive strategy for high performance. Journal of Business Research, 70, 168–176.

  48. Lomberg, C., Urbig, D., Stöckmann, C., Marino, L. D., & Dickson, P. H. (2017). Entrepreneurial orientation: the dimensions' shared effects in explaining firm performance. Entrepreneurship Theory and Practice, 41(6), 973-998

  49. McNulty, T., & Zattoni, A. (2013). Developing corporate governance research through qualitative methods: A review of previous studies. Corporate Governance, 21, 183-198.

  50. Miller, D. & Friesen, P.H. (1982) Innovation in conservative and entrepreneurial firms: Two models of strategic momentum. Strategic Management Journal, 3, p.1-25.

  51. Mojekeh, M. O., Nwokolie, C. E., & Okwuraiwe F. E. (2018). Entrepreneurial Marketing and the  Performance of  the Selected Small and Medium Scale Enterprises in Nigeria. Journal of Economics, Business, and Management, 2, 1-23 DOI: 10.21276/sjebm.2018.5.10.9.

  52. Morris, M. H., Schindehutte, M., & LaForge, R. W. (2002). Entrepreneurial marketing: a  construct for integrating  emerging entrepreneurship and marketing perspectives. Journal of marketing theory and practice, 10(4), 1-19.

  53. Mugambi, E. N., & Karugu, W. N. (2017). Effect of entrepreneurial marketing on the performance of real estate enterprises: A case of Optiven Limited in Nairobi, Kenya. International Academic Journal of Innovation,  Leadership and Entrepreneurship, 2(1), 46-70.

  54. Murray, J.Y., Gao, G.Y. and Kotabe, M., 2011. Market Orientation and Performance of Export Ventures: The Process through Marketing Capabilities and Competitive Advantages. Journal of the Academy of Marketing Science, 39, pp.252-269, https://doi.org/10.1007/s11747-010-0195-4.

  55. Narver, J. C., & Slater, S. F. (1990). The effect of a market orientation on business profitability. Journal of marketing, 54(4), 20-35.

  56. Ngo, L. V. & O’Cass, A. (2013) Innovation and business success: The mediating role of customer Participation, Journal of Business research, 66(8): 1134-1142

  57. Oluwatoyin, A.M., Olufunke, A.P. and Salome, I.O., 2018. The Impact of Market Orientation on Performance of Selected Hotels in Ondo State, Nigeria. Open Journal of Business and Management, 6, pp.616-631. https://doi.org/10. 4236/ojbm.2018.63047.

  58. Özdemir, Ö.G., 2013. Entrepreneurial Marketing and Social Value Creation in Turkish Art Industry: an Ambidextrous Perspective. Journal of Research in Marketing and Entrepreneurship, 15(1), pp.39- 60.

  59. Pandya, V. M. (2012, September). Comparative analysis of development of SMEs in developed and developing countries. In The 2012 International Conference on Business and Management (pp. 6-7).

  60. Prahalad, C. K., & Ramaswamy, V. (2004). Co‐creation experiences: The next practice in value creation. Journal of  Interactive Marketing, 18(3), 5-14.

  61. Rezvani, M. and Khazaei, M., 2014. Evaluation of Entrepreneurial Marketing Dimensions According to Characteristics of Institutions: Institutions Age and Size. International Journal of Basic Sciences & Applied Research, 3(4), pp.207-213.

  62. Sadiku-Dushi, N., Dana, L. P., & Ramadani, V. (2019). Entrepreneurial marketing dimensions and SMEs performance. Journal of Business Research, 100, 86-99.

  63. Schindehutte, M., & Morris, M. (2010). Entrepreneurial marketing strategy: lessons from the Red Queen. International Journal of Entrepreneurship and Innovation Management, 11(1), 75-94.

  64. Sekaran, U. (2010). Research Methods for Business: A Skill Building Approach. 4th edition. New York: John Willey and Sons, Inc

  65. Sekaran, U. & Bougie, R. (2013). Research Methods for Business: A Skill Building Approach. 6th edition. Chichester: John Willey and Sons Ltd.

  66. Shaw, E. (1999). Networks and their relevance to the entrepreneurial/marketing interface: A review of the evidence. Journal of Research in Marketing and Entrepreneurship, 1(1), 24-40.

  67. Stokes, D. (2000). Putting entrepreneurship into marketing: The process of entrepreneurial marketing. Journal of Research in Marketing and Entrepreneurship, 2(1), 1 16.

  68. Wang, H. K. & Yen, Y. F. (2012). An empirical exploration of corporate entrepreneurial  orientation and performance in Taiwanese SMEs: a perspective of multidimensional construct. Total Quality Management and Business Excellence, 23(9), 1035-1044.

  69. Webster, F. (1992). The changing role of marketing in the corporation. Journal of Marketing, 56(4), 1-17.

  70. Wernerfelt, B. (1984). A resource‐based view of the firm. Strategic management journal, 5(2), 171-180.

  71. Wooldridge, J. M. (2015). Introductory Econometrics: A Modern Approach, 6e. Mason, OH: South-Western CENGAGE Learning.

  72. Zikmund, W.G., Barry, J.B., Jon, C. & Griffin, C.M.G. (2013). Business Research Method. 8th edition. New York: Cengage Learning.