New product and emerging business growth in Kwara State
World Journal of Entrepreneurship, Management and Sustainable Development
ISSN: 2042-5961
Article publication date: 11 July 2016
Abstract
Purpose
The purpose of this paper is to examine the effect of new product on growth of emerging businesses (EBs) through sales volume and market share.
Design/methodology/approach
The study surveyed 137 EBs in Kwara State. Two hypotheses were formulated and tested using correlation and regression analyses.
Findings
Results show that service industry is dominant among EBs while the manufacturing industry trails. Many EBs are aware of the complexities of new product, its development and contribution to increasing sales volume, market share and ensuring competitive advantage with apparent infrastructural deficiencies. Test results show that there is a significant positive relationship and effect on sales volume and market share.
Originality/value
Encouraging EBs to step up and focus on improving product/service portfolio to transform their fortune is explored giving focus to the benefits of increasing sales volume and market share.
Keywords
Acknowledgements
The authors are grateful for the immeasurable inputs of Professor Sunday O. Otokiti, Dr Muritala O. Awodun, Dr Hakeem Ajonbadi and the two anonymous reviewers whose review comments reshaped the work to become a significant research contribution.
Citation
Oladele, S. and Oladele, F. (2016), "New product and emerging business growth in Kwara State", World Journal of Entrepreneurship, Management and Sustainable Development, Vol. 12 No. 3, pp. 207-227. https://doi.org/10.1108/WJEMSD-09-2015-0038
Publisher
:Emerald Group Publishing Limited
Copyright © 2016, Emerald Group Publishing Limited