A critical analysis of the marketing mix elements of small businesses in the retail sector in Durban Central Business District
Norman Mahohoma ORCID ↗ · Albert Tchey Agbenyegah
International Journal of Research in Business and Social Science · 2024 · Vol. 13 / Issue 6 · 38-51
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Abstract
In an incisive analysis of the marketing mix's impact on small retail businesses in Durban's Central Business District (CBD), this study scrutinizes the extended 7Ps framework: product, price, place, promotion, process, people and physical evidence. Utilizing a quantitative methodology, data from 217 owner-managers, captured via a 5-point Likert scale, were analysed through ANOVA and Tukey's HSD tests, unearthing deep insights. The findings disrupt conventional marketing paradigms, revealing that an intense focus on product attributes does not correlate with enhanced performance. Small businesses that maintained competitive, yet balanced pricing mechanisms outstripped are those that engages in fierce price wars, underscoring the dangers of excessive price reductions. Strategic promotional activities and well-considered choice locations were pivotal, whereas overemphasis on physical evidence and internal processes proved detrimental. The study results advocate for a balanced, strategic approach to the marketing mix, urging small businesses to rethink traditional priorities. This study offers crucial guidance for business owners seeking to optimize performance and calls for targeted policy measures to support the retail sector’s growth and sustainability.
Authors & affiliations
Norman Mahohoma
Affiliation not supplied
Albert Tchey Agbenyegah
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