Marketing Innovation Strategies and the Performance of Small and Medium Sized Enterprises (SMES) in Delta State

Abstract

This study investigated the effect of Marketing Innovation Strategies on the performance of Small and Medium Sized Enterprises in Delta State. A descriptive survey research design was adopted for the study. The population comprises of 461 SMEs in the Delta state. A sample size of 214 respondents was obtained using Taro Yamane (1964) formular. Stratified sampling technique was used to determine the number of respondents to be included in the sample. The study was driven by primary and secondary data. The data was analyzed using Pearson correlation and multiple regression analysis as analytical tools. Findings revealed that Product Innovation has a positive and significant relationship with the performance of SMEs in Delta State, Price Innovation has a positive and significant relationship with the performance of SMEs in Delta State, Promotion Innovation has a positive and significant relationship with the performance of SMEs in Delta State and Distribution channel Innovation has a positive and significant relationship with the performance of SMEs in Delta State. The study concluded that SMEs performance strongly relies on their innovativeness attracts active importance attached to the analysis of innovation activities and their effects. The study recommends that SMEs should ensure that changes in the innovation must be addressed proactively through creative thinking and innovative behavior by finding new ideas, and implements same effectively and efficiently.