Competitive Intelligence and Entrepreneurship Survival in Emerging Economies: A review of Benin City, Edo State, Nigeria

Author: Omede, Nduka Kenneth, Ibekwe, Ezem Matthew, Nte, Ngboawaji Daniel

Abstract:
The Nigerian marketing environment is enmeshed in escalating competition arising from the effects of globalization, globalization and other marketing dynamics such that entrepreneurship success has become survival of the fittest to keep pace with the changing competitive forces and come to terms with the realities on ground. This study examined the effect of competitive intelligence on the survival of entrepreneurship in Benin City, Edo State, Nigeria. Three hypotheses were formulated to establish whether or not there is a relationship existing between the two intervening variable i.e. competitive intelligence and the survival of entrepreneurship in Benin City, Edo State. Survey research design was adopted, while data were obtained from structured questionnaire and analyzed using Pearson’s product-moment coefficient of correlation. From the analysis, the results indicated that there is an existing relationship between the variables. Based on the findings it was concluded that for entrepreneurship to survive and expand its market frontiers in the face of the escalating competition in the business environment, there is the need to take a holistic view of their strategies and offer innovative products that can provide customers with valued and satisfying benefits better than the ones offered by competitors and engaging in superior marketing strategies to enhance performance and productivity. The study recommended, among others, that entrepreneurship should identify and prune down unwarranted business expenses without necessarily impacting negatively on the operations of the firm.

Keywords:Entrepreneurship, Environment, Productivity, Competitive intelligence, Market frontiers, globalization, marketing dynamics.

DOI:

International Journal of Trade & Commerce (Vol: 9 Issue:2)