MARKETING RESEARCH IN NIGERIA
A SURVIVAL STRATEGY FOR SMALL AND MEDIUM SCALE ENTERPRISES IN A COMPETITIVE ENVIRONMENT
Keywords:Marketing research, survival strategy, sustainability, small and scale enterprises(SMEs)
A vast majority of small and medium scale enterprises are faced with challenges of taking decisions that will affect their uncontrollable and controllable environments and customers groups .These decisions are invariably surrounded by uncertainties and therefore risks. This study was aimed to examine how the application of marketing research could help small scale business firm to reduce such uncertainties and probability that the decision which management has to take will help attain the organization marketing objectives. The study has major objectives among others to evaluate the role of marketing research(MR) in decision making, trace the history of small such business in Nigeria. The study also identifies reasons for business failure in Nigeria such as management problems, inadequate raw materials, shortage of energy, poor rural infrastructure and Boko Haram incidences amongst others. Qualitative method of research was use. Secondary data collection was also used. The study reveals that though companies world-wide and in Nigeria cannot do without marketing research, marketing firms have not cultivated the habit, which is due to some constrains which include among others lack of experienced trained research personnel, lack of funds as a result of relative small size of Nigerian business, difficulty in data collection, problem identification amongst others. Solutions are however, offered to identified problems such as constant research studies on marketing programs, government giving soft loan and tax holidays to small scale business, import relieves on raw materials, creating an enabling environment, etc. The writer concludes that small and medium scale enterprises should always conduct market research, before and after production for their survival, growth and sustainability, and also enable them to achieve their organizations profitability objectives.