Strategic Marketing, Innovation Culture and Competitive Advantage of Selected Petroleum Products Marketing Companies: Evidence from Nigeria

This paper investigated the effect of strategic marketing (SM) on innovation culture (IC) and competitive advantage (CA) of selected petroleum products marketing companies in Lagos State, Nigeria. A cross-sectional survey research design was used in the study. Target population comprised 1568 managerial staff of the selected companies. Cochran’s formula was used to determine a sample size. Stratified random sampling and proportionate sampling techniques were used to group the sample to definite categories of directors, senior managers, marketing managers and supervisors and for adequate representation. A validated questionnaire was administered and a total of 497 retrieved for analysis. The data collected were analysed using multiple regression analysis. The findings revealed that strategic marketing had a positive and significant effect on innovation culture (Adj.R2= 0.390, F (1, 491) = 80.180, p < 0.05) and competitive advantage (Adj.R2 = 0.627, F (4, 491) = 208.685, p < 0.05). The study recommended that the management of petroleum products marketing companies should be committed to adopting strategic marketing towards building innovation culture and achieving competitive advantage.