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AWARENESS, UTILIZATION AND IMPACT OF VIRAL MARKETING ON THE PERFORMANCE RATE AND GLOBAL COMPETITIVENESS OF MSMEs IN SUB-URBAN AREA OF EDO STATE, (EKPOMA AND UROMI)

This research examined the awareness, utilization and impact of viral marketing on the performance rate and global competitiveness of MSMEs in sub-urban area of Edo State, (Ekpoma and Uromi). Three research questions were raised in this study to investigate the awareness, utilization and impact of viral marketing on the performance rate and global competitiveness of MSMEs in sub-urban area of Edo State. The study adopted the survey research design. 200 registered MSMEs were purposively selected for the study. Data were collected using person to person interview and a structured questionnaire which was developed by the researcher for the purpose of the study. The data collected were analyzed using descriptive statistics of means and simple percentages. The findings of this study revealed that awareness and utilization of viral marketing is low in the study area (36.4%), which implies impact on marketing performance was also very low. However, the advantage of viral marketing was very conspicuous among MSMEs who knew and made used of viral marketing as this brought about competitive advantage, broad customer base, larger market, varied marketing opportunities, low cost and/or even no cost advertisement rate and profit enhancement. Whatsapp, Email and Facebook were the major platforms used for viral marketing in the study area. MSMEs in the study area have very low awareness and utilization of viral marketing, the major platform for viral marketing were Whatsapp, Email and Facebook and Viral Marketing has the potential to improve and enhance business through larger market, broad customer base and profit enhancement. Recommendations made are 1. government should carryout enlightenment and sensitization campaign on viral marketing among MSMEs in the study area, 2. MSMEs should be organized into groups on social networks to attract them to the platform and 3. Policy makers should encourage MSMEs to own smart devices as part of informing technological innovations into their businesses.