EFFECT OF VALUE PROPOSITION AS A MARKETING STRATEGY ON INNOVATIVE CAPACITY OF THE PERFORMANCE OF PHARMACEUTICAL FIRMS IN KWARA STATE
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Date
2022-06
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Abstract
There is a lot of believe that marketing starts and ends in product or service delivery. This
believe and many more envelop most companies focusing on selling of the product with
little or no emphasis on the level of product satisfaction on customers. On the basis of this,
this study examines the impact of Value Proposition as a Marketing Strategy for Innovative
Capacity of pharmaceutical firms in Kwara State of Nigeria. The study adopted a cross
sectional survey design, involving the use of structured questionnaire as research
instruments. The population comprises of the 283 employees in the manufacturing
pharmaceutical firms in Kwara State and employed the convenience sampling techniques
to arrive at a sample of 169 respondents. The study adopted the use of structural equation
model to analyse the data. The result of the study as (0.365,0.594 and 0.224) reveals that
value proposition as a marketing strategy has significant effect on innovative capacity of
pharmaceutical firms in Kwara State. Furthermore, the relationship between Value
Proposition and Innovative Capacity as a marketing strategy impacts on the performance
of pharmaceutical firms in Kwara State of Nigeria. Therefore, the study recommends that
to enhance the innovative capacity of the firms, managers should be conscious of the
product usability and the product style.