The Influence of Marketing Strategies on Growth and Sustainability in the Original Equipment Manufacturing Industry ()
ABSTRACT
The aim of this study was to assess the influence of marketing strategies
on growth and sustainability in the OEM industry in Zambia. Based on Porter’s
Generic Competitive Business Strategies, the study identified the major bottlenecks in the
currently employed marketing strategies and assessed the relationship between
Porter’s generic strategies in achieving KPI’s. A quantitative survey with structured
questions was administered through self-completion questionnaires to 40 respondents, representing a 95% response rate. A
descriptive research design was used and a quantitative research strategy used.
IBM SPSS was used for correlation analysis, to assess the strength of the
relationship between variables. The results indicated that at a 1% level of
significance, the Pearson correlation coefficient of 0.01 and 0.000 at sig.
(2-tailed) < 0.01 indicated that there was a statistically significant relationship
between cost strategy and revenue and market share growth. The results further
showed Pearson correlation coefficients of 0.000 at sig. (2-tailed) < 0.01
indicating that there was a statistically significant relationship between
differentiation strategy and revenue and market share growth. However,
the results indicted a Pearson correlation coefficient of 0.015 and 0.036 which
was not statistically significant at sig. (2-tailed) < 0.05 between focus
strategy and revenue and market share growth. According to the research
hypotheses testing, cost strategy and differentiation strategy had greater
priorities and potential to achieving profitable and sustainable growth in the
market.
Share and Cite:
Nanyangwe, J. and Phiri, J. (2021) The Influence of Marketing Strategies on Growth and Sustainability in the Original Equipment Manufacturing Industry.
Open Journal of Business and Management,
9, 1446-1461. doi:
10.4236/ojbm.2021.93077.
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