Narrow Market Business Level Strategies Performance of Micro and Small Enterprises
Author(s)
Adote Philemon Addo , Ibn Ali Issah Kulo ,
Download Full PDF Pages: 37-48 | Views: 409 | Downloads: 82 | DOI: 10.5281/zenodo.6162583
Abstract
Contrary to popular belief, there has been little empirical research on the impact of cost-cutting and product diversification on the success of micro- and small-sized businesses, therefore this study is needed to fill the knowledge gap. With a focus on salons and beauty spas in Jakarta County, the goal of this research was to see how generic limited market strategies affected the performance of small enterprises, particularly micro and tiny ones. The study used a descriptive research design, using Jakarta County's 279 salons and beauty spas as the study's target population and a sample size of 165 participants. Quantitative data was collected by a standardized questionnaire. Research shows that at a 5 percent level of significance, focused cost strategy has moderately positive significant impact on micro and small firms' performance, whereas focused differentiation strategy has moderately positive significant impact. In the research, it is recommended that micro and small businesses maintain their knowledge, innovation, and constant improvement, as well as design methods for creating competitive, inexpensive, and appealing rates, as well as plans for premium items in a specialised limited market
Keywords
Focused cost leadership strategy, Focused differentiation strategy, Generic strategies, Micro and small enterprises performance, Narrow market, Performance, Salons and beauty spas
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