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Impact of Marketing Strategies on Organizational Growth: A Study of Selected Industries in Lagos State Nigeria

Received: 14 December 2021     Accepted: 31 December 2021     Published: 12 January 2022
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Abstract

This study examined the challenges most organizations face concerning marketing strategies and investigated the nature and effects on organizational growth in some notable industries in Lagos State. The exploration strategy took on for this review was study and narrative investigation. The survey research included assortment of information from existing records and discoveries of the assessment regarding the matter using well structured questionnaire. Stratified sampling technique was utilized to choose the respondents for the study. The population for the study comprised selected company trainers, practitioners, marketing managers and sales supervisors from various organizations in Lagos State. A total of 420 trainers, managers and supervisors were randomly selected for the study. Out of this number, 359 responded to the questionnaire. The Cronbach Alpha was utilized in determining the internal consistency of the questionnaire. Information acquired were dissected utilizing mean, frequency count, percentages and analysis of variance. The study revealed that there was a relationship between Marketing Strategies and performance of organizations. The study also revealed that there exist significance of Marketing – mix Strategies on organizational growth particularly in a competitive environment. It is therefore recommended that organizations should use a set of effective Marketing mix Strategies such as product, price, place and promotion for increased sales volume and the realization of strategic objectives.

Published in International Journal of Business and Economics Research (Volume 11, Issue 1)
DOI 10.11648/j.ijber.20221101.11
Page(s) 1-7
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2022. Published by Science Publishing Group

Keywords

Impact, Marketing Strategies, Organizations, Growth, Industries

References
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[20] Roslender R and Wilson, R. M. S. (2008). The Marketing/ Accounting interface, Journal of Marketing Management 24 (7-8), 659 – 876.
[21] Rust, R. T; Lemon, K. N. & Zeithaml, V. A. (2004). Return on Marketing: Using Customer Equity to Focus Marketing Strategy. Journal of Marketing.
[22] Shane, D. (2011). What is Strategic Marketing in the Digital Age. www.daviessbdm.com
[23] Subramaniam, M and Hewett, K (2004). Balancing Standardization and adaptation for Product Performance in International Markets: Testing the Influence of Headquarters-Subsidiary Contact and Cooperation. Management International Review 44 (2), 171-194.
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Cite This Article
  • APA Style

    Ezekiel Morakinyo Akinseye, Solomon Oludayo Onimole, Oluwayomi Ayoade Ekundayo, Adeyemi Busayo Adebusoye. (2022). Impact of Marketing Strategies on Organizational Growth: A Study of Selected Industries in Lagos State Nigeria. International Journal of Business and Economics Research, 11(1), 1-7. https://doi.org/10.11648/j.ijber.20221101.11

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    ACS Style

    Ezekiel Morakinyo Akinseye; Solomon Oludayo Onimole; Oluwayomi Ayoade Ekundayo; Adeyemi Busayo Adebusoye. Impact of Marketing Strategies on Organizational Growth: A Study of Selected Industries in Lagos State Nigeria. Int. J. Bus. Econ. Res. 2022, 11(1), 1-7. doi: 10.11648/j.ijber.20221101.11

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    AMA Style

    Ezekiel Morakinyo Akinseye, Solomon Oludayo Onimole, Oluwayomi Ayoade Ekundayo, Adeyemi Busayo Adebusoye. Impact of Marketing Strategies on Organizational Growth: A Study of Selected Industries in Lagos State Nigeria. Int J Bus Econ Res. 2022;11(1):1-7. doi: 10.11648/j.ijber.20221101.11

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  • @article{10.11648/j.ijber.20221101.11,
      author = {Ezekiel Morakinyo Akinseye and Solomon Oludayo Onimole and Oluwayomi Ayoade Ekundayo and Adeyemi Busayo Adebusoye},
      title = {Impact of Marketing Strategies on Organizational Growth: A Study of Selected Industries in Lagos State Nigeria},
      journal = {International Journal of Business and Economics Research},
      volume = {11},
      number = {1},
      pages = {1-7},
      doi = {10.11648/j.ijber.20221101.11},
      url = {https://doi.org/10.11648/j.ijber.20221101.11},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20221101.11},
      abstract = {This study examined the challenges most organizations face concerning marketing strategies and investigated the nature and effects on organizational growth in some notable industries in Lagos State. The exploration strategy took on for this review was study and narrative investigation. The survey research included assortment of information from existing records and discoveries of the assessment regarding the matter using well structured questionnaire. Stratified sampling technique was utilized to choose the respondents for the study. The population for the study comprised selected company trainers, practitioners, marketing managers and sales supervisors from various organizations in Lagos State. A total of 420 trainers, managers and supervisors were randomly selected for the study. Out of this number, 359 responded to the questionnaire. The Cronbach Alpha was utilized in determining the internal consistency of the questionnaire. Information acquired were dissected utilizing mean, frequency count, percentages and analysis of variance. The study revealed that there was a relationship between Marketing Strategies and performance of organizations. The study also revealed that there exist significance of Marketing – mix Strategies on organizational growth particularly in a competitive environment. It is therefore recommended that organizations should use a set of effective Marketing mix Strategies such as product, price, place and promotion for increased sales volume and the realization of strategic objectives.},
     year = {2022}
    }
    

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  • TY  - JOUR
    T1  - Impact of Marketing Strategies on Organizational Growth: A Study of Selected Industries in Lagos State Nigeria
    AU  - Ezekiel Morakinyo Akinseye
    AU  - Solomon Oludayo Onimole
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    DO  - 10.11648/j.ijber.20221101.11
    T2  - International Journal of Business and Economics Research
    JF  - International Journal of Business and Economics Research
    JO  - International Journal of Business and Economics Research
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    PB  - Science Publishing Group
    SN  - 2328-756X
    UR  - https://doi.org/10.11648/j.ijber.20221101.11
    AB  - This study examined the challenges most organizations face concerning marketing strategies and investigated the nature and effects on organizational growth in some notable industries in Lagos State. The exploration strategy took on for this review was study and narrative investigation. The survey research included assortment of information from existing records and discoveries of the assessment regarding the matter using well structured questionnaire. Stratified sampling technique was utilized to choose the respondents for the study. The population for the study comprised selected company trainers, practitioners, marketing managers and sales supervisors from various organizations in Lagos State. A total of 420 trainers, managers and supervisors were randomly selected for the study. Out of this number, 359 responded to the questionnaire. The Cronbach Alpha was utilized in determining the internal consistency of the questionnaire. Information acquired were dissected utilizing mean, frequency count, percentages and analysis of variance. The study revealed that there was a relationship between Marketing Strategies and performance of organizations. The study also revealed that there exist significance of Marketing – mix Strategies on organizational growth particularly in a competitive environment. It is therefore recommended that organizations should use a set of effective Marketing mix Strategies such as product, price, place and promotion for increased sales volume and the realization of strategic objectives.
    VL  - 11
    IS  - 1
    ER  - 

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Author Information
  • Business Administration Department, Kings University, Ode-Omu, Nigeria

  • Entrepreneurship Department, Joseph Ayo Babalola University, Ikeji-Arakeji, Nigeria

  • Insurance Department, Joseph Ayo Babalola University, Ikeji-Arakeji, Nigeria

  • Entrepreneurship Department, Joseph Ayo Babalola University, Ikeji-Arakeji, Nigeria

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