Impact Of Sustainable Marketing Practices On The Performance Of Selected Small And Medium-Sized Enterprises (Smes) In Nigeria
Associate Professor Udegbe Scholastica Ebarefimia, PhD.
Lagos State University, Faculty of Management Sciences, Department of Marketing, Nigeria.
Olufemi Aina AJOSE. PhD
Lagos State University, Faculty of Management Sciences, Department of Marketing, Nigeria.
Adekunle Azeez Aliu
The Federal Polytechnic, Ilaro, Ogun State, Nigeria.
Keywords: sustainable, marketing practices, SMEs, performance, Nigeria
Abstract
This study set out to find out how Nigerian small and medium-sized enterprises (SMEs) performed in relation to sustainable marketing strategies. According to the study, sustainable marketing techniques have a major impact on how well Nigerian SMEs function. The majority of small and medium-sized enterprises (SMEs) in Nigeria, was found out in this study to employ sustainable marketing strategies and understand their advantages. These advantages include the ability to present themselves as morally upright businesses, environmental preservation, improved business performance, a larger market share, competitiveness, brand equity, reputation, and increased customer loyalty.A contextualized and literature-based research instrument was used in this study to gauge how the "constructs" under investigation were applied. The study collected sample data from selected 250 SMEs in Nigeria using the survey method; all copies of the questionnaire that were given to the respondents were confirmed to be functional, yielding an effective response rate of 100%. Positive proof of the research instrument's validity and reliability was shown. After data analysis, the study's conclusion strongly affirms that sustainable marketing strategies have an effect on how well small and medium-sized businesses (SMEs) in Nigeria perform. The research's findings will provide feedback that will fill the knowledge gap and advance our understanding of SMEs in Nigeria. Additionally, the study will act as a manual for researchers and practitioners.
References
Abisuga-Oyekunle, O.A., Patra, S.K., & Muchie, M. (2020). SMES in Sustainable Development: Their Role in Poverty Reduction and Employment Generation in sub-Saharan Africa. African Journal of Science, Technology, Innovation and Development, 12(4), 405–419.
Atkinson, G. (2000). Measuring corporate sustainability. Environ. Plan. Manag., 43, 235–252.
. Belz, F.-M. (2009); Peattie, K. Sustainability Marketing: A Global Perspective; John Wiley and Sons: Chichester, UK; Hoboken, NJ, USA,
. Charter, M.; Peattie, K.; Ottman, J.; Polonsky, M.J. (2002) Marketing and Sustainability; Centre for Business Relationships, Accountability, Sustainability, and Society in association with the Centre for Sustainable Design (BRASS), Cardiff University, Cardiff, UK.
Cronbach, L. T. (1947). Test reliability: its meaning and determination. Psychometrical, 12(1), 1–16.
Emery, B.( 2012); Sustainable Marketing; Pearson: Harlow, UK,
Fraj, E.; Martínez, E.; Matute, J. (2011). Green marketing strategy and the firm’s performance: The moderating role of environmental culture. J. Strateg. Mark. 2011, 19, 339–355
Martin, D.; Schouten, J. (2014) Sustainable Marketing (New International Edition); Pearson: Harlow, UK.
Nkamnebe, A.D. (2011). Sustainability marketing in emerging markets: Imperatives, Challenges, and Agenda Setting. Int. J. Emerg. Mark. 2011, 6, 217–232.
Nugroho, A., Prijadi, R., & Kusumastuti, R. D.(2022).Strategic orientations and firm performance: The role of information technology adoption capability.Journal of Strategy and Management.
Okaro, S. C., Ofoegbu, G. N., & Okafor, G. O. (2018). Corporate Governance and Sustainable Development in Nigeria: Perspectives and Challenges. International Journal of Academic Research in Business and Social Sciences, 8(9), 90–104.
Schrettle, S.; Hinz, A.; Scherrer-Rathje, M.; Friedli, T. (2014). Turning sustainability into action: explaining firms’ sustainability efforts and their impact on firm performance. J. Prod. Econ. 147, 73–84.
Ugwu, F.I. (2021) Role of entrepreneurship growth on the performance of small and medium enterprises in South-East, Nigeria. International Journal in Management and Social Science, 9(8), 56-78.
World Bank, Small & Medium Enterprises (SMEs) Finance (2021): Improving SMEs’ Access to Finance and Finding Innovative solutions to Unlock Sources of Capital.