THE IMPACT OF MARKETING STRATEGIES ON THE GROWTH OF SMALL-SCALE ENERPRISES IN NIGERIA (A STUDY OF SOME SELECTED SMALL-SCALE ENTERPRISES IN ERUWA)

This study investigates the effect of marketing strategies on the performance of small scale enterprises (SMEs) in Eruwa, Oyo State, with a focus on Ayobami Foremost Water. SMEs are vital to the economy, and their performance directly impacts economic growth and development. Despite the adoption of various marketing strategies, many SMEs in Nigeria still struggle with challenges such as lack of skilled manpower, inadequate 8 capital, inefficient management, and marketing inefficiencies. This study aims to explore the relationship between specific marketing strategies—such as product, pricing, promotion, and branding—and the performance of SMEs. Data for the study was collected from SMEs in Eruwa through questionnaires, and statistical analyses were employed to assess the impact of different marketing strategies on the financial and non-financial performance of these enterprises. The research specifically examines how product strategy, pricing, promotion, and branding contribute to growth, market share, and customer satisfaction. The findings reveal that well executed marketing strategies play a significant role in improving SME performance, although factors like limited resources and managerial capacity continue to pose challenges. The study concludes that marketing strategies are crucial for the success of SMEs and recommends the need for stronger marketing skills, innovation, and better resource allocation. These will help SMEs overcome challenges and improve their performance in a competitive market environment.