THE INFLUENCE OF COMPETITIVE STRATEGIES ON BUSINESS PERFORMANCE
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- NGN 3000
This study examines the influence of competitive strategies on business performance. Objectives include: (1) evaluating the effectiveness of different competitive strategies, (2) analyzing the relationship between competitive positioning and market share, and (3) assessing the long-term effects on business growth. A survey design is employed to gather data from a diverse respondent pool. Using Taro Yamane's formula, a sample size of 340 is derived, ensuring reliability and accuracy. The case study focuses on the telecommunications sector in Lagos, Nigeria, where competitive strategies are crucial. The reliability coefficient score is 0.87, indicating high reliability. Findings reveal that well-formulated competitive strategies significantly enhance business performance by improving market positioning, increasing market share, and driving business growth. Recommendations include developing comprehensive competitive strategies and regularly reviewing and adjusting them to adapt to market changes and maintain a competitive edge.
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