Marketing and Entrepreneurship: Relationship between Marketing Strategies, Entrepreneurial Development, Sale Growth and Corporate Profitability

Abstract

Marketing, Entrepreneurship and innovation are considered among the main characteristics of strategic thinking in business organizations today because of their complicated effects on designing and executing the different activities of such organizations, especially the marketing activities which constitute the core of all other activities. The aim of this study was examined the effects of Marketing Strategies on Entrepreneurial Development. It also attempts to determine the extent to which promotion increases sales growth. Survey research method that used in a cross sectional design through the use of comprehensive questionnaires which were distributed to selected business enterprises. In the analysis of data collected, it was found that marketing strategy such as promotion has a significant impact on the sales growth of any company. It was also noted that the use of direct distribution channel has a positive effect on the overall profitability of the firm. From these analytical findings, it is therefore recommended that entrepreneurs should be able to understand the need for customer satisfaction and create niche for the product they sell.  Entrepreneurs should engage in more marketing promotions by making use of the internet, radio, TV, billboards, and ensure their customers are reached wherever they are found. The research makes clear the importance of Marketing Strategy to all organizations, as it has been confirmed that marketing strategy does have effects on entrepreneurial development.

Keywords: Marketing, Entrepreneurship, Promotion, sales growth, direct distribution channel