IDEAS home Printed from https://ideas.repec.org/a/bcp/journl/v8y2024i1p993-1024.html
   My bibliography  Save this article

Effect of Marketing Strategies on the Performance of Agribusinesses in North-Central, Nigeria

Author

Listed:

    Abstract

    This study investigates the influence of distinct marketing strategies—product, promotion, price, and place strategies—on the performance of agribusinesses in the North-Central region of Nigeria. Leveraging a sample size of 338 from a population of 2,216 registered agribusinesses across five selected states, a cross-sectional survey design was employed to analyze the relationships between the chosen independent variables and critical performance indicators namely; profit, sales volume, market share, and customer loyalty. The results from four regression models underscore the degree of impacts of marketing strategies on performance metrics. Notably, promotion and place strategies emerge as significant drivers of increased sales volume and enhanced customer loyalty, respectively. Conversely, product strategy exhibits a minimal effect on profit, while price strategy strongly influences market share. These findings offer actionable insights for agribusiness practitioners and policymakers to optimize their marketing approaches for improved performance and sustainable performance in the agribusiness sector.

    Suggested Citation

  • , 2024. "Effect of Marketing Strategies on the Performance of Agribusinesses in North-Central, Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(1), pages 993-1024, January.
    • Handle: RePEc:bcp:journl:v:8:y:2024:i:1:p:993-1024
    as

    Download full text from publisher

    File URL: https://www.rsisinternational.org/journals/ijriss/Digital-Library/volume-8-issue-1/993-1024.pdf
    Download Restriction: no
    File URL: https://www.rsisinternational.org/journals/ijriss/articles/effect-of-marketing-strategies-on-the-performance-of-agribusinesses-in-north-central-nigeria/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Wu, Ing-Long, 2013. "The antecedents of customer satisfaction and its link to complaint intentions in online shopping: An integration of justice, technology, and trust," International Journal of Information Management, Elsevier, vol. 33(1), pages 166-176.
    2. Paul Geroski & Steve Machin & John Van Reenen, 1993. "The Profitability of Innovating Firms," RAND Journal of Economics, The RAND Corporation, vol. 24(2), pages 198-211, Summer.
    3. Raphael Amit & Joshua Livnat, 1988. "Diversification strategies, business cycles and economic performance," Strategic Management Journal, Wiley Blackwell, vol. 9(2), pages 99-110, March.
    4. Deeksha A. Singh & Ajai S. Gaur & Florian P. Schmid, 2010. "Corporate Diversification, TMT Experience, and Performance," Management International Review, Springer, vol. 50(1), pages 35-56, February.
    5. John R. Graham & Michael L. Lemmon & Jack G. Wolf, 2002. "Does Corporate Diversification Destroy Value?," Journal of Finance, American Finance Association, vol. 57(2), pages 695-720, April.
    6. Suleyman M. Yildiz, 2018. "An empirical analysis of the leader–member exchange and employee turnover intentions mediated by mobbing: evidence from sport organisations," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 31(1), pages 480-497, January.
    7. David J. Teece, 2003. "Towards an Economic Theory of the Multiproduct Firm," World Scientific Book Chapters, in: Essays In Technology Management And Policy Selected Papers of David J Teece, chapter 15, pages 419-446, World Scientific Publishing Co. Pte. Ltd..
    8. Kesten C. Green & J. Scott Armstrong, 2005. "Competitor-oriented Objectives: The Myth of Market Share," Monash Econometrics and Business Statistics Working Papers 17/05, Monash University, Department of Econometrics and Business Statistics.
    9. Kathleen R. Conner & C. K. Prahalad, 1996. "A Resource-Based Theory of the Firm: Knowledge Versus Opportunism," Organization Science, INFORMS, vol. 7(5), pages 477-501, October.
    10. repec:eme:mrn000:eb028402 is not listed on IDEAS
    11. Yasemin Y. Kor & Huseyin Leblebici, 2005. "How do interdependencies among human‐capital deployment, development, and diversification strategies affect firms' financial performance?," Strategic Management Journal, Wiley Blackwell, vol. 26(10), pages 967-985, October.
    12. Wachira Lucy Wangui & David Kiragu & Anita Wachira, 2018. "Effect of Pricing Strategy and Growth of Selected Hotels in Nyeri County, Kenya," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 8(1), pages 205-214, January.
    13. Erik Døving & Paul N. Gooderham, 2008. "Dynamic capabilities as antecedents of the scope of related diversification: the case of small firm accountancy practices," Strategic Management Journal, Wiley Blackwell, vol. 29(8), pages 841-857, August.
    14. Joao Mota & Luis M. de Castro, 2004. "A Capabilities Perspective on the Evolution of Firm Boundaries: A Comparative Case Example from the Portuguese Moulds Industry," Journal of Management Studies, Wiley Blackwell, vol. 41(2), pages 295-316, March.
    15. Cynthia A. Montgomery, 1994. "Corporate Diversificaton," Journal of Economic Perspectives, American Economic Association, vol. 8(3), pages 163-178, Summer.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Rui Baptista & Murat Karaöz & João Correia Leitão, 2020. "Diversification by young, small firms: the role of pre-entry resources and entry mistakes," Small Business Economics, Springer, vol. 55(1), pages 103-122, June.
    2. Enrico Santarelli & Hien Thu Tran, 2016. "Diversification strategies and firm performance in Vietnam," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 24(1), pages 31-68, January.
    3. E. Santarelli & H. T. Tran, 2013. "Diversification Strategies and Firm Performance: A Sample Selection Approach," Working Papers wp896, Dipartimento Scienze Economiche, Universita' di Bologna.
    4. Qiming Li & Wenhuan Wang & Yiping Lou & Ke Cheng & Xiaoguang Yang, 2016. "Diversification and Corporate Performance: Evidence from China’s Listed Energy Companies," Sustainability, MDPI, vol. 8(10), pages 1-17, September.
    5. Zhao Rong & Sheng Xiao, 2017. "Innovation†Related Diversification and Firm Value," European Financial Management, European Financial Management Association, vol. 23(3), pages 475-518, June.
    6. Arora, Punit & Gaur, Ajai, 2022. "Peer directors’ effort, firm efficiency and performance of diversified firms: An efficacy-based view of governance," Journal of Business Research, Elsevier, vol. 151(C), pages 593-608.
    7. Adrian Lüthge, 2020. "The concept of relatedness in diversification research: review and synthesis," Review of Managerial Science, Springer, vol. 14(1), pages 1-35, February.
    8. Elsas, Ralf & Hackethal, Andreas & Holzhäuser, Markus, 2010. "The anatomy of bank diversification," Journal of Banking & Finance, Elsevier, vol. 34(6), pages 1274-1287, June.
    9. Pettus, Michael L. & Kor, Yasemin Y. & Mahoney, Joseph T., 2007. "A Theory of Change in Turbulent Environments: The Sequencing of Dynamic Capabilities Following Industry Deregulation," Working Papers 07-0100, University of Illinois at Urbana-Champaign, College of Business.
    10. Forsgren, Mats & Pedersen, Torben & Foss, Nicolai J., 1999. "Accounting for the strengths of MNC subsidiaries: the case of foreign-owned firms in Denmark," International Business Review, Elsevier, vol. 8(2), pages 181-196, April.
    11. Gérard Charreaux, 2002. "Variation sur le thème:"À la recherche de nouvelles fondations pour la finance et la gouvernance d'entreprise"," Revue Finance Contrôle Stratégie, revues.org, vol. 5(3), pages 5-68, September.
    12. Michel A. Habib & Ulrich Hege & Pierre Mella-Barral, 2013. "Entrepreneurial Spawning and Firm Characteristics," Management Science, INFORMS, vol. 59(12), pages 2790-2804, December.
    13. Reddy, Kotapati Srinivasa, 2015. "Extant Reviews on Entry-mode/Internationalization, Mergers & Acquisitions, and Diversification: Understanding Theories and Establishing Interdisciplinary Research," MPRA Paper 63744, University Library of Munich, Germany, revised 2015.
    14. Ref, Ohad, 2015. "The relationship between product and geographic diversification: A fine-grained analysis of its different patterns," Journal of International Management, Elsevier, vol. 21(2), pages 83-99.
    15. Ron Adner & Peter Zemsky, 2016. "Diversification and Performance: Linking Relatedness, Market Structure, and the Decision to Diversify," Strategy Science, INFORMS, vol. 1(1), pages 32-55, March.
    16. Grillitsch, Markus & Nilsson , Magnus, 2013. "Technological competencies and firm performance: Analyzing the importance of internal and external competencies," Papers in Innovation Studies 2013/24, Lund University, CIRCLE - Centre for Innovation Research.
    17. Davide Vannoni, 2000. "The diversifield firm: non formal theories versus formal models," ECONOMIA E POLITICA INDUSTRIALE, FrancoAngeli Editore, vol. 2000(106).
    18. Ekkayokkaya, Manapol & Paudyal, Krishna, 2015. "A trade-off in corporate diversification," Journal of Empirical Finance, Elsevier, vol. 34(C), pages 275-292.
    19. Mark Rogers, 2001. "The Effect of Diversification on Firm Performance," Melbourne Institute Working Paper Series wp2001n02, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
    20. Yue Maggie Zhou & Weikun Yang & Sendil Ethiraj, 2023. "The dynamics of related diversification: Evidence from the health insurance industry following the Affordable Care Act," Strategic Management Journal, Wiley Blackwell, vol. 44(7), pages 1753-1779, July.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bcp:journl:v:8:y:2024:i:1:p:993-1024. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Pawan Verma (email available below). General contact details of provider: https://rsisinternational.org/journals/ijriss/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.