This Research work is designed to analyse, the various aspect of
market orientation practices in small business enterprise, it is
primarily aimed at the study of "whether or not", inadequate Market
orientation can lead to small business failures.
It also touched, on the significance of market orientation, it's
performance and other related industrial Issues, and thereafter, given
recommendations where and when necessary in order to check or completely
eliminate, the issue of business collapse or failures and help
increasethere overall performance and turnover of small-scale businesses
For the purpose of this research, the primary source of data
collection was used to obtained data for the project, (Application of
questionnaires) in order to collect and collate Information, to arrive
at a complete inference on the research Topic.
A hundred and fifty questionnaires was printed and issued out to
various respondents, of which only 60% where able to be retrieved.
Twenty (20) questionnaires were randomly selected from the 60% (90)
representing different fields of business and was used for the purpose
of computation and analysis of the Project.
The findings and conclusions from these analysis shows that, Market
orientation helps to enhance profitability, Organizational performance,
the customer retention as well as Marketing innovative ness in small
TABLE OF CONTENT
Table of Content
1.0 Introduction/Background to study
1.01 Statement of the problem
1.02 Research question
1.04 Scope of study
1.05 Purpose of study
1.06 Significance of the study
2.0 Literature review
2.01 Marketing orientation and business performance
2.02 Marketing orientation and innovativeness
2.03 Marketing orientation and business environment
2.04 Constraints of marketing orientation practices
2.05 Failed policies from inadequate market orientation
2.06 Marketing orientation and competition
3.01 Research design
3.02 Sample size and procedure
3.03 Restatement of hypothesis
4.0 Presentation of analysis of data
4.01 Chi square distribution
4.02 Sample size
4.03 Small size
4.04 Decision rule
4.1 Presentation of Data
4.1.1 Spreadsheet of response/table
4.1.2 Data sheet of contingency table
4.2 Presentation of observed frequency
4.3 Analysis of Data
5.0 Summary, Conclusion and Recommendation
5.1 Summary of findings
BACKGROUND TO STUDY
Ten percent of the profit before tax made by bonus is directed
towards financing Small and Medium Scale Industries in Nigeria (SMES) as
directed by the Federal Government through the Apex body in the
country's financial institution - Central Bank of Nigeria CBN. This has
come to stay as a policy, brought forth as a result of the overwhelming
impact of this sector to a country's economic development as evidenced
in the tracks of nations like: Brazil, Argentina, India, China, Malaysia
Financing this sector of the economy adequately by these nations has
moved them forward economically. Newly industrialized economy (NIE) were
basically shown the way forward by throwing their weight behind small
and medium scale industry.
Many more policies have been signed into law by different governments
to improve this sector. Lately, we have the economic reform: National
Empowerment for Economic
Development Strategies (NEEDS) by the Obasanjo Administration and one of its main objectives is the development of SMEs.
Nevertheless, not every small business floated either individually or
with the Government's aid has come to stay as inadequate marketing
skill-market orientation practice among other factors is set to ruin its
Continued rising and disappearance of small businesses would be seen
over a long period of time until critical issues like marketing
orientations are analyzed and consciously laid in the minds of business
managers and entrepreneurs. This skill would help keep the industry live
and prevent early demise if any at all.
STATEMENT OF PROBLEM
How does inadequate market orientation lead to small business failure?
PURPOSE OF STUDY
Generally, the purposes of this research are:
I). To show the significance of market orientation in the effective running of business.
ii). To guide entrepreneurs of business.
Specifically, the purpose include:
i. The study would guide existing small-scale businesses in the running of the business.
ii. This study would also prepare prospective smallscale
business entrepreneurs with respective to skill acquisition on market
orientation before starting up.
iii. It would also assist other researchers in conducting similar research.
iv. It would also add to the body of knowledge for information sourcing.
The following questions are hereby asked:
i) Is it because market orientation dictates profitability?
ii) Is it because market orientation affects performance?
iii) Is innovativeness a function of market orientation?
iv) Is customer retention a function of market orientation?
With respect to the statement of problem and research questions I make the following hypotheses:
i). Market orientation dictates profitability: H1
ii). Market orientation affects performance: H2
iii). Innovativeness is a function of market orientation: H3
iv). Customer retention is a function of market orientation: H4
SCOPE OF STUDY
This study is limited to small-scale businesses resident in Lagos
State only. Lagos State was chosen because of proximity and convenience
to the researcher.
SIGNIFICANCE OF THE STUDY
This research would aid small business managers, government and
policy makers in assessing small-scale business, its performance and
enacting policies on them respectively.
This research does not cover all states of the federation but
restricted to Lagos alone due to my working environment restraint.