Category Archives: AJBED: Volume 3, Issue 5

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EFFECTS OF PROMOTIONAL STRATEGIES ON THE GROWTH OF SMALL SCALE ENTERPRISES IN SOUTHWEST, NIGERIA

EFFECTS OF PROMOTIONAL STRATEGIES ON THE GROWTH OF SMALL SCALE ENTERPRISES IN SOUTHWEST, NIGERIA

aALABI ABIDOYE OLUFEMI, bAKILAPA T. P., KANMODI A. A., cBAMIDELE B. O. and dOJO O. O.
a Department of Business Education, Osun State College of Education Ila-Orangun (OSSCE)
b Department of Agricultural Education, OSSCE, ILA-ORANGUN
c INTERNAL AUDIT, OSSCE, ILA-ORANGUN
d REGISTRY, OSSCE, ILA-ORANGUN

Acknowledgement: We gratefully acknowledge Tertiary Education Trust Fund, Nigeria (TETFUND) for funding this research

ABSTRACT

This study was undertaken to investigate the effect of promotional strategies on the growth of Small Scale Enterprises in Southwestern Nigeria. Specifically, the study examined the various promotional strategies used by SSEs in Nigeria, investigated the factors that influenced the choice of the promotional strategies adopted by SSEs, and evaluated the effect of promotional strategies on the growth of SSEs in the country. Multi stage sampling was used for the study. At the first stage, three states were purposively selected in Southwest, Nigeria namely: Lagos, Ogun and Osun. This is because they are the most populous states in the region (2006 National Population Commission) and have the largest concentration of small scale enterprises and more developed industrial centres. At the second stage, purposive sampling technique was used to select four Local Government Areas (LGAs) prominent in manufacturing and service enterprises. At the third stage, three communities per Local Government Area were randomly selected. Finally, 20 entrepreneurs/managers of SSEs were randomly selected totalling 720 entrepreneurs. Data on variables such as promotional strategies used by SSEs, factors that influence the choice of SSEs used by SSEs and effects of promotional strategies on growth of SSEs were sourced from the respondents. Data were analysed using descriptive and inferential statistics. The  results  of  the  study  showed  that  20.6%,  26.3%  and  21.9%  used  television  frequently, sometimes and rarely respectively while 31.3% of the respondents never used television as a promotional strategy to enhance sales in the study area. About 16.3% and 32.5% frequently and sometimes respectively used outdoor promotional strategy while 46.3% and 5.0% never and rarely respectively used outdoor promotional strategy. It was revealed that 26.3%, 26.9%, 16.3% and 34.4%  of  the  study  respondents  sometimes  used  display,  billboard,  radio  and  gift  items promotional strategies respectively to increase their sales while 35%, 17.5%, 26.3% and 43.1% of the respondents frequently used display, billboard, radio and gift items respectively. 48.8%, 13.8%, 28.1%, 12.5% and 38.8% frequently made use of promotion, print media, and broadcast, out of home and direct advertising to create awareness of their product. The factors that influenced the choice of promotional strategies adopted by SSEs revealed that: entrepreneurs (58.7%) believed that business management approach 86% towards the growth of their business influenced their choice of promotional strategies adopted by them. Adequate firm resource for growth 81.3%. Effect of Promotional Strategies used on sales performance of Small Scale Enterprises shows that sales performance was on the increase as recorded among SSEs that used PS in the form of increased turnover. This was followed by larger market coverage that is due to the creation of greater awareness leading to more patronage then competitive advantage. The study concluded that promotional  strategies  enhance  sales  performance  of  SSEs, nonetheless, small scale enterprises in Southwestern Nigeria did not make good use of these promotional strategies to their advantage. Driven by the findings in this research, SSEs have a long way to go especially in the use of promotional strategies to play the crucial role of contributing to the growth and development of the economy.

Keywords: Small scale enterprises, promotional strategies, effects and growth performance

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AN ANALYSIS OF THE IMPACT OF FISCAL POLICY ON ECONOMIC DEVELOPMENT IN NIGERIA

AN ANALYSIS OF THE IMPACT OF FISCAL POLICY ON ECONOMIC DEVELOPMENT IN NIGERIA

ABUBAKAR OKUWA ABDULLAHI1 & ABUBAKAR ABBAS UTHMAN2
1Department of General Studies,
School of General Studies and Pre-ND,
Isa Mustapha Agwai 1 Polytechnic Lafia, Nasarawa State, Nigeria
Email: abukuwa50@gmail.com

2Department of Business Administration and management,
School of Administration and Business Studies,
Isa Mustapha Agwai 1 Polytechnic Lafia, Nasarawa State, Nigeria
Email: amuamafeda@gmail.com  

Abstract

The quest for economic development has been the preoccupation of developing nations, Nigeria inclusive. The process involves the coordination of macroeconomic indices using different policy instruments of which fiscal policy is one. However, the conduct of macroeconomic environment in Nigeria is characterized by a lot of instabilities, inconsistencies and uncertainties which are constraints to the attainment of economic development, hence the need to examine the impact of fiscal policy in coordinating macroeconomic indices toward economic development in Nigeria. Total government revenue and total government expenditure were regressed on real GDP. Employing OLS technique, the results showed that though fiscal policy influences the level of economic development in Nigeria due to the significant impact of both total government revenue and total government expenditure on real GDP. However, the size of the coefficient of total government expenditure (2.709013) is less than that of total government revenue (2.875000) which may be attributed to factors such as over invoicing of government contract and expenditure on non-economic goods and services amongst others. The paper finally recommended the need for fiscal discipline in government expenditure in order to improve its impact on economic development in Nigeria.

Keyword: Fiscal Policy, Economic Development, Real GDP, Government Revenue, Government Expenditure.

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Impact Factor

2018 : 3.466

2015 : 0.676

Current impact factor evaluation is in progress.

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