Date of Conferral

2022

Degree

Doctor of Business Administration (D.B.A.)

School

Business Administration

Advisor

Theresa T. Neal

Abstract

Owners of small and medium enterprises (SMEs) constantly face challenges to sustain their businesses. More than 80% of SMEs in Nigeria fail within the first 5 years of operation. SME owners are concerned with the high failure rate of businesses within the first years of operation, which could negatively impact business sustainability, employment, and economic growth. Grounded in the resource-advantage theory of competition and the social marketing strategic model, the purpose of this qualitative multiple case study was to explore the marketing strategies five chief executive officers from five Nigerian SMEs used to sustain their businesses beyond 5 years. Data were collected using semistructured interviews with open-ended questions, interview notes, organization marketing strategies, marketing plans, websites, and social media sites. Through methodological triangulation and Yin’s five-stage data analysis process, four themes emerged: market segmentation and social media marketing, market readiness of new products and services, agility and flexibility through business process modification to suit the market, and arranging targeted visits to establish a long-term relationship with customers and stakeholders. A key recommendation is for SME owners to adopt a strategy for market readiness, continuous market research, customer data gathering, and business intelligence to ascertain market readiness before launching new products and services to target markets. The implication for positive social change includes increased SME sustainability, business profitability, and employment rate, which could result in an improved standard of living and economic growth in Nigeria.

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