MARKETING KNOWLEDGE DEVELOMENT AND ENTREPRENEURIAL MARKETING PERFORMANCE: DIAGNOSIS AND PRESCRIPTIONS FOR SME’s FOOD VENDORS

Abstract

This study investigated the relationship between marketing knowledge development and entrepreneurial marketing performance, a diagnosis and prescriptions for food vendors. The study employed content research methodology. This study’s foundation was built on the knowledge based theory of the firm. Conceptually, marketing knowledge development is the acquisition of marketing skills and competences by the workforce of the work organization. In contrast, entrepreneurial marketing performance construct is the successes or failures of an entrepreneurial marketing outcomes of an organization which is measured with financial and non-financial indicators. Empirical literature review of these constructs revealed strong relationship or association between marketing knowledge development and entrepreneurial marketing performance which is highly supported with related empirical works of varied methodologies and study domains. Thus, marketing knowledge development significantly improves entrepreneurial marketing performance. The study concludes that, marketing knowledge development executed by SME’s food vendors will significantly improve their entrepreneurial marketing performances. We therefore recommend that, SME’s food vendors should establish marketing department, offer on the job training of its employees. Again, management of the firms should ensure the diffusion of marketing knowledge through collaboration and knowledge sharing among employees at work, institute marketing performance management with well defined yearly marketing budget. This will significantly improve the entrepreneurial marketing performance of SME’s food vendors.