Background of the Study
Market expansion involves strategies aimed at increasing a company's market presence by targeting new customer segments or geographical areas. For local businesses, market expansion is critical for improving profitability and competitiveness, especially in rapidly evolving markets (Adeyemi & Hassan, 2023).
In Adamawa State, retail firms face challenges such as limited access to new markets, inadequate infrastructure, and competition from larger firms. Strategies such as diversification, franchising, and digital marketing have proven effective in expanding market reach. However, the extent to which these strategies are adopted by local retail firms in Adamawa State remains unclear. This study evaluates market expansion strategies employed by retail firms and their impact on business growth.
Despite the potential benefits of market expansion, many local retail firms in Adamawa State struggle to implement effective strategies due to resource constraints, lack of expertise, and limited market research. These challenges hinder their ability to compete and grow in a dynamic market environment.
Research by Bello and Yusuf (2024) highlights that adopting market expansion strategies aligned with market trends can enhance competitiveness. However, there is limited localized research on market expansion strategies in Adamawa State's retail sector. This study addresses this gap by examining the strategies employed and their effectiveness.
To evaluate market expansion strategies used by retail firms in Adamawa State.
To identify challenges faced by retail firms in implementing market expansion strategies.
To recommend effective strategies for market expansion in the retail sector.
What market expansion strategies are used by retail firms in Adamawa State?
What challenges do retail firms face in implementing market expansion strategies?
What strategies can enhance market expansion in the retail sector?
Market expansion strategies significantly enhance business growth.
Resource constraints negatively affect the implementation of market expansion strategies.
Effective market expansion strategies improve competitiveness and profitability.
The study focuses on retail firms in Adamawa State, analyzing their market expansion strategies and outcomes. It excludes firms outside the retail sector or other states. Limitations include variations in firm size and market dynamics.
Market Expansion: Strategies aimed at increasing a company's customer base or geographical reach.
Local Businesses: Small or medium-sized enterprises operating within a specific locality.
Retail Firms: Businesses that sell goods directly to consumers.
ABSTRACT
This study was carried out on Psychosocial assessment of people living with hiv/aids in bununu...
ABSTRACT
The media is increasingly playing an important role in promoting tourism. The SAT Strategy (2013: 12) suggests that the opportun...
ABSTRACT
Industrial Development has been a major cornerstone of economic development of an...
Background of the Study
Predictive analytics involves using statistical algorithms, machine learning, and data mining techniques to analy...
Background of the Study
Strategic sourcing refers to the process of identifying, evaluating, and selecting suppliers who will provide goo...
Background of the Study
The rise of online news portals has revolutionized how people access and consume information, pa...
Sepsis is a life-threatening medical condition that arises when the body&rsqu...
ABSTRACT
The study investigated the Influence of English Language Entry Grades on Students‟ Performance in Shorthand in Federal Colleges...
Abstract
The topic of the study is the effects of mother tongue in the study of English language in secondary scho...
Background of the Study
The oil and gas sector is a critical revenue generator for Nigeria, contributing s...