Market Orientation and the Performance of Small and Medium-Sized Manufacturing Enterprises in the Accra Metropolis

Abstract

The importance of small and medium-sized manufacturing enterprises as an engine of economic growth has been widely recognized. However, despite their invaluable contribution in the Ghanaian economy, their performance has not been impressive due to the orientation of their marketing strategies. This study, therefore, sought to investigate the relationship between market orientation and the performance of small and medium-sized manufacturing enterprises in the Accra metropolis of Ghana. Given the purpose and nature of this study where most of the analyses were quantitative in nature, quantitative research approach was deemed the most appropriate and, therefore, adopted. The descriptive and correlational study designs, too, were adopted for this study. Simple random sampling technique, specifically lottery method, was used to select 346 small and medium manufacturing enterprises in the Accra metropolis. Regression analysis was used to test the hypotheses postulated. It was observed from the findings that positive relationship exists between market orientation and small and medium-sized manufacturing enterprises performance. This means that market orientation contribute positively to the well being of small and medium-sized manufacturing enterprises. The study recommends that policy makers as well as National Board for Small Scale Industries should sensitize owners/managers of small and medium-sized manufacturing enterprises about the importance of employing market orientation practices in their business operations. Keywords: market orientation, performance, manufacturing, SMEs