The Role of Innovation to The Success of Small and Medium-Sized Home Furniture & Decoration Business

Abstract

Purpose of the study were: (1) To study product innovations that affect the success of small and medium sized businesses in furniture and home decoration and (2) To study design innovations that affect the success of small and medium sized businesses in furniture and home decoration. Research Methodology: Mixed Methods Research is the use of quantitative and qualitative methods. The sample was a 400 consumers whom buy furniture and decorative items by using a simple random method and 270 entrepreneurs conducted by using multi-stage sampling and important information provider was: (1) Group of small and medium sized enterprises in business of furniture and home furnishing 15 people. (2) 5 scholars and marketing experts by using a purposive sampling technique, Data were collected through questionnaires and in-depth interviews. Analysis of data by frequency, percentage, average and hypothesis testing by multiple regression analysis (MRA) at the statistical significant level of 0.05.

The result of research were: 1) Product innovation Innovative design of small and medium sized businesses of furniture and home decoration, The overall of feedback level was very high. 2) The hypothesis test showed that the attitudes of consumers toward of features of innovative product entrepreneurs and design innovation has an affect the success of small and medium sized businesses in furniture and home decoration at the statistical significance level of 0.05. and 3) Innovative strategies critical to the success of small and medium sized businesses of furniture and home decoration products were: Marketing research, Evaluation of Satisfaction, Product design can be separated into parts, and Products development using materials resistant to the environment.