Monday, February 4, 2019

INFLUENCE OF ONLINE MARKETING COMMUNICATION IN THE PROMOTION OF SMALL AND MEDIUM ENTERPRISES (SMEs) IN NIGERIA


CHAPTER ONE

INTRODUCTION
1.1             Background to the Study
Small and Medium Scale Enterprises (SMEs) are crucial drivers of every nation’s economy. However, SMEs in Nigeria have not performed creditably well in terms of sales. Hence, they are yet to contribute to a large extent to the economic growth and development of the country. Considering that business communication is an indispensable resource in overall business performance, one is forced to question the availability and utilization of business communication by SME owners. Adebowale, et’al (2015).
Business communication can be seen as any piece of information or group of information working collectively to give an organization competitive edge in the process of supporting such activities as forecasting, planning, control, coordination, decision making and operational activities (Butcher, 1997). On the other hand, Lowe (1999) describes business communication as dissemination of information on those factors outside and largely beyond the control of the business which have a direct commercial significance.
From the foregoing, the availability of business information resources for use by SMEs becomes imminent. The reason for this is not far-fetched as logic posits that availability precedes utilization. The availability of business information can therefore be described as providing the right information to an individual for use in order to perform a specific business task. Haliso and Okunfulure, (2010). According to O’Hare (2007) business information includes company reports, share price data, profiles on executives, company directories, business statistics, credit ratings, market research reports, country profiles, trade journals and other related information materials.
The use of Internet to communicate business information beats all other media (radio, television etc.) with its features of up-to-date information availability and the ability to deliver contents to the user on the go. Practically, users of the Internet can view information and also access archives, read consumers reviews at the click of the button.
The availability of the internet has broadened opportunities for business communication and providing a better platform for swift and immediate interaction using online presence. Hence, the Internet is also a medium of commerce, allowing users to buy and sell products online without having to physically visit each other in a particular geographical location. Yet, with its vast audience, interactive nature, global convergence of other medium, and other great potentials of the Internet as a medium of advertising and marketing, it appears that it is still largely under-utilized in Nigeria. Akinola and Okunade, (2015).


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