SMALL AND MEDIUM ENTERPRISES MARKETING STRATEGIES AND MARKETING PERFORMANCE IN GHANA: THE MEDIATING ROLE OF MARKETING KNOWLEDGE

Abstract

This study examines the relationship between Small and Medium Enterprises (SMEs)' marketing strategies and marketing performance in Ghana, mediating role of marketing knowledge. Using a quantitative research approach, data was collected from a sample of 207 SMEs operating in various industries in Ghana. The study employed statistical techniques such as regression and mediation analysis to analyse the data. Preliminary findings reveal a positive and significant relationship between marketing strategies (including market segmentation, competitive strategy, and growth strategy) and marketing performance of SMEs in Ghana. Moreover, marketing knowledge is found to mediate the relationship between marketing strategies and marketing performance, indicating that SMEs' understanding and application of marketing knowledge enhance the effectiveness of their strategies. These findings have practical implications for SMEs in Ghana, enabling them to make informed decisions when formulating and implementing marketing plans. The study underscores the importance of investing in marketing education and training to enhance SME’s understanding of marketing concepts and practices. By contributing empirical evidence on the relationship between marketing strategies and marketing performance in the Ghanaian context, this study enriches the existing literature on SME marketing. The identification of the mediating role of marketing knowledge offers insights for policymakers, practitioners, and academics to develop targeted interventions and strategies such as subsidized training programs in collaboration with academic institutions, focusing on building marketing knowledge and skills among SME owners and employees in Ghana.