Impact of Marketing Strategies on Organizational Growth: A Study of Selected Industries in Lagos State Nigeria

Abstract

This study examined the challenges most organizations face concerning marketing strategies and investigated the nature and effects on organizational growth in some notable industries in Lagos State. The exploration strategy took on for this review was study and narrative investigation. The survey research included assortment of information from existing records and discoveries of the assessment regarding the matter using well structured questionnaire. Stratified sampling technique was utilized to choose the respondents for the study. The population for the study comprised selected company trainers, practitioners, marketing managers and sales supervisors from various organizations in Lagos State. A total of 420 trainers, managers and supervisors were randomly selected for the study. Out of this number, 359 responded to the questionnaire. The Cronbach Alpha was utilized in determining the internal consistency of the questionnaire. Information acquired were dissected utilizing mean, frequency count, percentages and analysis of variance. The study revealed that there was a relationship between Marketing Strategies and performance of organizations. The study also revealed that there exist significance of Marketing-mix Strategies on organizational growth particularly in a competitive environment. It is therefore recommended that organizations should use a set of effective Marketing mix Strategies such as product, price, place and promotion for increased sales volume and the realization of strategic objectives.