An evaluation of performance-based marketing on market penetration: Evidence from a tech company in Kano.
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Background of the study:
Performance-based marketing has become a strategic tool for tech companies aiming to penetrate competitive markets. This study evaluates how performance-based marketing influences market penetration for a tech company in Kano. The digital marketing landscape is evolving rapidly, with performance-based strategies offering measurable results that allow companies to focus on return-driven investments. By emphasizing key performance indicators such as conversion rates, engagement metrics, and cost per acquisition, performance-based marketing provides a clear pathway for market expansion (Abubakar, 2023). In Kano, where tech companies face stiff competition, the need for data-driven strategies has never been more acute. The study explores the methodologies and technologies that underpin performance-based marketing, such as affiliate networks, PPC campaigns, and real-time analytics. It further investigates how these approaches translate into market penetration by enhancing brand visibility, customer engagement, and competitive positioning (Garba, 2024). Drawing on recent empirical studies and industry analyses, the research provides a comprehensive overview of the performance metrics that drive market penetration. The insights from this study aim to assist tech companies in refining their marketing strategies to achieve sustainable growth and competitive advantage (Sani, 2023).
Statement of the problem:
Tech companies in Kano often struggle to achieve meaningful market penetration despite investing in performance-based marketing initiatives. The primary challenge is the difficulty in accurately measuring the direct impact of marketing efforts on market expansion. Inadequate data analytics, limited understanding of performance metrics, and inconsistent strategy implementation contribute to a suboptimal penetration rate (Lawal, 2024). Furthermore, there is a disconnect between marketing expenditure and measurable market share gains, creating uncertainty about the efficacy of performance-based approaches. This study seeks to identify the barriers that inhibit effective market penetration and propose strategies to bridge the gap between marketing performance and market expansion. It aims to clarify how performance metrics can be harnessed to generate tangible market gains and drive competitive advantage (Ibrahim, 2023).
Objectives of the study:
To assess the impact of performance-based marketing on market penetration.
To identify key performance indicators that drive successful market expansion.
To provide strategic recommendations for tech companies to improve market penetration.
Research questions:
How does performance-based marketing influence market penetration in tech companies?
What performance indicators are critical for successful market expansion?
What strategies can be employed to optimize performance-based marketing for enhanced market penetration?
Significance of the study
The study is significant as it offers insights into the practical application of performance-based marketing strategies to achieve market penetration. The findings will inform tech companies on how to align marketing investments with measurable growth outcomes, thus providing a roadmap for sustainable competitive advantage. This research contributes valuable data for both marketing practitioners and academics interested in digital marketing strategies (Umeh, 2024).
Scope and limitations of the study:
The research is limited to the performance-based marketing strategies of a tech company in Kano. It focuses exclusively on market penetration outcomes and does not consider other aspects of business performance or external market variables.
Definitions of terms:
Performance-Based Marketing: A strategy that focuses on achieving specific, measurable outcomes from marketing investments (Ibrahim, 2023).
Market Penetration: The extent to which a product or service is recognized and purchased by customers in a particular market (Okeke, 2024).
Tech Company: A business entity engaged in the development and provision of technology-based products or services (Eze, 2023).
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