IMPACT OF CULTURAL, MARKETING AND PRODUCT INNOVATIONS ON FIRMS PERFORMANCE OF SMEs

Abstract

The purpose of this research is to analyze the connections between cultural innovation, product innovation and marketing innovation, with special focus on small and medium-sized businesses (SMEs). Sample population consisted of workers from several SMEs in Multan region of Pakistani manufacturing hub of Multan. Total of 291 SME’s workers and owners were used to compile this sample. To collect the information, we used a standardized questionnaire, the statistics package SPSS is useful for doing numerous statistical analyses on collected data (demographic analysis, correlation analysis & regression analysis). There is significant relationship between all the variables, and also regression analysis shows the model is fit and can predict research’s results. The study's findings can be used by managers at SMEs to develop the fresh approaches to product promotion. The results provide significant information for reaching decisions. Further, study provides the manager with a guide and set of actions for selling product credibly, that is essential for overcoming the problem of falling demand.