Transformations  in
Business & Economics

THE IMPACT OF STUDENT-RUN MARKETING AGENCY SERVICES ON SATISFACTION AND BUSINESS PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES AND MICROENTERPRISES
Rodney Graeme Duffett, Dylan Henry Cromhout, Tudor Edu

ABSTRACT: The inquiry investigates small and medium-sized enterprises’ (SMEs) and microenterprises’ (MEs) client satisfaction with student-run marketing agencies’ (SRMAs) research and marketing services and the impact on business performance factors. A questionnaire was applied at the client business site and 107 questionnaires were completed, which were statistically analysed via linear regression and analysis of variance. The inquiry verified positive disconfirmation (satisfaction) and a positive impact on business performance factors (business awareness, competitive advantage, revenue, customer loyalty, new clients, and business efficiency) among SME and ME clients owing to the SRMAs’ research and marketing services. A notable theoretical addition was made to the model of expectancy-disconfirmation in the context of WIL initiatives (SRMAs) and SME and ME business performance factors. The inquiry makes a meaningful contribution from a SRMA client’s perspective, which can assist SMEs and MEs with research and marketing resources to enhance sustainability in tough developing economy operating environments.

KEYWORDS:  business performance factors, microenterprises (MEs), model of expectancy-disconfirmation, small and medium-sized enterprises (SMEs), satisfaction, student-run marketing agencies (SRMAs).

JEL classification:  A22, M31, M37, O33