ENTREPRENEURIAL MARKETING CAPABILITIES AND CORPORATE WELLBEING OF FOOD AND BEVERAGE FIRMS IN SOUTH-SOUTH, NIGERIA

Abstract

This study investigated the relationship between Entrepreneurial Marketing Capabilities and Corporate Wellbeing of Food and Beverage Firms in South-South, Nigeria. Specifically, the objectives of the study were to determine how customer focus, innovativeness, opportunity focus and value creation relate with customer retention, market share growth and profitability growth of food and beverage firms in South-South, Nigeria. The correlational research design was adopted and the population of the study comprised seventy (70) food and beverage firms in South-South, Nigeria.350 respondents were drawn from the population through a census approach in which 5managers were selected from each of the food and beverage firms in South-South, Nigeria. However, only 315 respondents provided data for the study through questionnaire that was designed in the Likert 5-point scale of strongly disagree to strongly agree. Spearman Correlation (rho) was used to test the null hypothesis. From results of the analysis it was revealed that market focus which is the proxy of entrepreneurial marketing capabilities positively and significantly relate with customer retention of food and beverage firms in South-South, Nigeria. Based on this, it was concluded that firms with good market-focused strategies are better positioned to retain customers, which in turn contributes to improved corporate performance and sustainability. Therefore, the study recommended that food and beverage firms in South-South, Nigeria, should prioritize the development and implementation of comprehensive market-focused strategies. This can be achieved by investing in market research to better understand customer needs and preferences, fostering customer-centric innovation, and consistently monitoring and adapting to changes in market trends.