The Nexus between Types of Innovation and Marketing Performance of SME in an Emerging Economy

Abstract

Nowadays the practice in which businesses find themselves becomes unknown, innovation types have been seen as a critical element in an organizational growth of companies. This paper intends to cross -examine the interrelation between innovation types and SME marketing performance in a growing economy of Ghana. The research used quantitative methods, in which four research hypotheses were formulated and tested using Partial Least Squares Structural Equation Modelling (PLS-SEM). In all, 437 respondents of SME composed data through a questionnaires survey sight in the cities of Kumasi and Accra respectively in Ghana. The study outcomes identified the usefulness of a strong and meaningful impact between the types of innovation namely Product, Process, Marketing and Organization and SME marketing performance of a developing economy. The paper explores to add to the limited knowledge of SME in the perspective of innovation types literature relationship to the marketing performance in a developing economy. Studies conducted, consistently endeavor to determine the connection between the types of innovation and the firm performance and neglecting the marketing performance viewpoint. Hence, this research offers a specialized focus on the types of innovation and its relationship via SME marketing performance in a developing economy. Furtherance, executing critical issues to business managers/owners when devising approaches to organizational firm performance.