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The dependent variable, Business success, included in the hypothesised model, split into two factors and was renamed Business success and Business growth in the revised theoretical framework. The independent variables were expanded to include new factors and renamed in some cases. The revised dependent and independent variables are summarised in Table 1. The reformulated hypotheses follow below and the reformulated theoretical framework is presented in Figure 1.
The reformulated hypotheses are as follows: H :1a
H :1b
H There is a positive relationship between Varying product levels and the success of a small business. 2b :
2a :
H There is a positive relationship between Varying product levels and the growth of a small business. H :3a
There is a positive relationship between supplying a Needs satisfying product and the success of a small business.
H :3b
There is a positive relationship between supplying a Needs satisfying product and the growth of a small business.
H There is a positive relationship between Price cost strategies and the success of a small business. :4a H There is a positive relationship between Price cost strategies and the growth of a small business. :4b H There is a positive relationship between Place strategies and the success of a small business. :5a H There is a positive relationship between Place strategies and the growth of a small business. :5b H There is a positive relationship between the Marketing process and the success of a small business. :6a H There is a positive relationship between the Marketing process and the growth of a small business. :6b H :7a
There is a positive relationship between Communication strategies and the success of a small business.
H :7b
There is a positive relationship between Communication strategies and the growth of a small business.
Independent variables
SEGMENTATION and TARGET MARKETING STRATEGIES
VARYING PRODUCT LEVELS NEEDS SATISFYING PRODUCT PRICE COST STRATEGIES PLACE STRATEGIES MARKETING PROCESS COMMUNICATION STRATEGIES
H 1a-1b H 2a-2b H 3a-3b
H 4a-4b
H 5a-5b H 6a-6b H 7a-7b
Dependent variables
There is a positive relationship between Segmentation and target marketing strategies and the success of a small business.
There is a positive relationship between Segmentation and target marketing strategies and the growth of a small business.
BUSINESS SUCCESS BUSINESS GROWTH
FIGURE 1: REVISED HYPOTHESISED MODEL:THE RELATIONSHIP BETWEEN THE MARKETING TASKS PERFORMED BY SMALL BUSINESS OWNERS, BUSINESS SUCCESS AND BUSINESS GROWTH
(Source: Researchers' own construction) THE MARKETING TASKS OF SMALL BUSINESS OWNERS IN NELSON MANDELA BAY 36