Research Article of International Journal of Accounting and Auditing
RELATIONSHIP MARKETING (RM) AND THE PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISES (SMEs) IN NIGERIA
AYOZIE DANIEL OGECHUKWU
The Federal Polytechnic Ilaro, Ogun State, Nigeria.
This work is on relationship marketing and the performance of small and medium scale enterprises in Nigeria. The major objective of this study is the provision of useful information about the awareness, understanding, acceptance and usage of the relationship marketing concept (RMC) by SMEs, and the establishment of the relationships between some management attributes and the implementation of the RMC. Our investigation was based on the formulation and the application of the two part model of the RMC. The Research design involved the use of the two part model of the adoption and implementation of the RMC, and the relationship planning and control system. The adoption and implementation variables are treated as the dependent variables that influence the level of customer satisfaction, which in turn impacts on the independent variables such as, growth in assets, profitability and sales turnover. The results showed that over 80% of SMEs in the seven sample states in Nigeria adopted and used the relationship marketing concept. The very relevant education and experience of CEOs and workers positively influence the level of the practice and tenets of relationship marketing concept. That the articulation and precise definition of a corporate mission statement based on the relationship marketing concept, and the attention to customer needs, produces customer satisfaction, loyalty, corporate success and profitability. All the stakeholders in SMEs, the employees, the government, banks, and the customers should form a win-win network, to identify, satisfy, enhance, commercialize, retain and reactivate long time customers for the mutual benefit of all.
Keywords: Small and Medium Scale Enterprises, Relation Marketing, Marketing Customer Service, Brand Loyalty
How to cite this article:
AYOZIE DANIEL OGECHUKWU.RELATIONSHIP MARKETING (RM) AND THE PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISES (SMEs) IN NIGERIA. International Journal of Accounting and Auditing, 2020,1:3
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