Marketing strategy and competitiveness: evidence from Colombian SMEs
This study evaluates how three distinct marketing strategies (i.e., marketing communication, marketing innovation, and marketing uniqueness) impact the competitiveness level of Colombian SMEs. We use a unique primary dataset drawn from the Global Competitiveness Project that includes information for...
- Autores:
-
Moreno-Gómez, Jorge
Londono, Juan Carlos
Zapata Upegui, Luis Felipe
- Tipo de recurso:
- Article of investigation
- Fecha de publicación:
- 2023
- Institución:
- Corporación Universidad de la Costa
- Repositorio:
- REDICUC - Repositorio CUC
- Idioma:
- eng
- OAI Identifier:
- oai:repositorio.cuc.edu.co:11323/10114
- Acceso en línea:
- https://hdl.handle.net/11323/10114
https://repositorio.cuc.edu.co/
- Palabra clave:
- Marketing communication
Marketing innovation
Marketing uniqueness
Competitiveness
SMEs
Colombia
Comunicación de mercadeo
Innovación de mercadeo
Singularidad de mercadeo
Competitividad
Pymes
- Rights
- openAccess
- License
- Atribución 4.0 Internacional (CC BY 4.0)
| id |
RCUC2_144f2c39cbe603f5b289b5e612acebe3 |
|---|---|
| oai_identifier_str |
oai:repositorio.cuc.edu.co:11323/10114 |
| network_acronym_str |
RCUC2 |
| network_name_str |
REDICUC - Repositorio CUC |
| repository_id_str |
|
| dc.title.eng.fl_str_mv |
Marketing strategy and competitiveness: evidence from Colombian SMEs |
| dc.title.translated.none.fl_str_mv |
Las estrategias de marketing y la competitividad: evidencia de las PYMES colombianas |
| title |
Marketing strategy and competitiveness: evidence from Colombian SMEs |
| spellingShingle |
Marketing strategy and competitiveness: evidence from Colombian SMEs Marketing communication Marketing innovation Marketing uniqueness Competitiveness SMEs Colombia Comunicación de mercadeo Innovación de mercadeo Singularidad de mercadeo Competitividad Pymes |
| title_short |
Marketing strategy and competitiveness: evidence from Colombian SMEs |
| title_full |
Marketing strategy and competitiveness: evidence from Colombian SMEs |
| title_fullStr |
Marketing strategy and competitiveness: evidence from Colombian SMEs |
| title_full_unstemmed |
Marketing strategy and competitiveness: evidence from Colombian SMEs |
| title_sort |
Marketing strategy and competitiveness: evidence from Colombian SMEs |
| dc.creator.fl_str_mv |
Moreno-Gómez, Jorge Londono, Juan Carlos Zapata Upegui, Luis Felipe |
| dc.contributor.author.none.fl_str_mv |
Moreno-Gómez, Jorge Londono, Juan Carlos Zapata Upegui, Luis Felipe |
| dc.subject.proposal.eng.fl_str_mv |
Marketing communication Marketing innovation Marketing uniqueness Competitiveness SMEs |
| topic |
Marketing communication Marketing innovation Marketing uniqueness Competitiveness SMEs Colombia Comunicación de mercadeo Innovación de mercadeo Singularidad de mercadeo Competitividad Pymes |
| dc.subject.proposal.spa.fl_str_mv |
Colombia Comunicación de mercadeo Innovación de mercadeo Singularidad de mercadeo Competitividad Pymes |
| description |
This study evaluates how three distinct marketing strategies (i.e., marketing communication, marketing innovation, and marketing uniqueness) impact the competitiveness level of Colombian SMEs. We use a unique primary dataset drawn from the Global Competitiveness Project that includes information for 176 Colombian SMEs during 2019. We employ a regression model to test the proposed hypotheses highlighting the relevance of marketing innovation, uniqueness, and communication for SMEs' competitiveness. The findings reveal that Colombian SMEs are frequent users of marketing strategies. Results show that larger SMEs that use marketing strategies are more competitive than smaller ones. It was also found that strategic emphasis, which implies that SMEs work with one of the evaluated strategies, contributes to competitiveness. However, managers should consider the synergistic effects of using more than one strategy. The relevance of this study is to present a model that shows how larger SMEs can capitalize on different marketing strategies to consolidate their competitiveness level in the Colombian context. |
| publishDate |
2023 |
| dc.date.accessioned.none.fl_str_mv |
2023-05-12T21:53:09Z |
| dc.date.available.none.fl_str_mv |
2023-05-12T21:53:09Z |
| dc.date.issued.none.fl_str_mv |
2023 |
| dc.type.spa.fl_str_mv |
Artículo de revista |
| dc.type.coar.spa.fl_str_mv |
http://purl.org/coar/resource_type/c_2df8fbb1 |
| dc.type.content.spa.fl_str_mv |
Text |
| dc.type.driver.spa.fl_str_mv |
info:eu-repo/semantics/article |
| dc.type.redcol.spa.fl_str_mv |
http://purl.org/redcol/resource_type/ART |
| dc.type.version.spa.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
| dc.type.coarversion.spa.fl_str_mv |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
| format |
http://purl.org/coar/resource_type/c_2df8fbb1 |
| status_str |
publishedVersion |
| dc.identifier.citation.spa.fl_str_mv |
Moreno-Gómez, Jorge. (2023). Marketing strategy and competitiveness: Evidence from Colombian SMEs * Corresponding Author. TEC Empresarial. 17. 48-64. 10.18845/te.v17i2.6701. |
| dc.identifier.issn.spa.fl_str_mv |
1659-2395 |
| dc.identifier.uri.none.fl_str_mv |
https://hdl.handle.net/11323/10114 |
| dc.identifier.doi.none.fl_str_mv |
10.18845/te.v17i2.6701 |
| dc.identifier.eissn.spa.fl_str_mv |
1659-3359 |
| dc.identifier.instname.spa.fl_str_mv |
Corporación Universidad de la Costa |
| dc.identifier.reponame.spa.fl_str_mv |
REDICUC - Repositorio CUC |
| dc.identifier.repourl.spa.fl_str_mv |
https://repositorio.cuc.edu.co/ |
| identifier_str_mv |
Moreno-Gómez, Jorge. (2023). Marketing strategy and competitiveness: Evidence from Colombian SMEs * Corresponding Author. TEC Empresarial. 17. 48-64. 10.18845/te.v17i2.6701. 1659-2395 10.18845/te.v17i2.6701 1659-3359 Corporación Universidad de la Costa REDICUC - Repositorio CUC |
| url |
https://hdl.handle.net/11323/10114 https://repositorio.cuc.edu.co/ |
| dc.language.iso.spa.fl_str_mv |
eng |
| language |
eng |
| dc.relation.ispartofjournal.spa.fl_str_mv |
Tec Empresarial |
| dc.relation.references.spa.fl_str_mv |
Aaker, D.A. (1996). Measuring Brand Equity across Products and Markets. California Management Review, 38(3), 102-120. https://dx.doi.org/10.2307/41165845 Acs, Z. J., & Audretsch, D. B. (1988). Innovation in large and small firms: an empirical analysis. The American Economic Review, 78(4), 678-690. https://www.jstor.org/stable/1811167 Aghazadeh, H. (2015). Strategic marketing management: Achieving superior business performance through intelligent marketing strategy. ProcediaSocial and Behavioral Sciences, 207, 125-134. https://doi.org/10.1016/j.sbspro.2015.10.161 Ahmad, A., Salleh, S.M., & Perumal, S. (2019). Brand related capabilities and the process of integrated marketing communications (IMC): A Resource Based View (RBV). Journal of Contemporary Research in Social Sciences, 1(6), 136-150. https://doi.org/10.33094/26410249.2019.16.136.150 Ahmadjian, C.L. (2016). Comparative Institutional analysis and institutional complexity. Journal of Management Studies, 53(1), 12-27. https://doi.org/10.1111/joms.12178 Ahmadjian, C.L. (2016). Comparative Institutional analysis and institutional complexity. Journal of Management Studies, 53(1), 12-27. https://doi.org/10.1111/joms.12178 Al-Surmi, A., Cao, G., & Duan, Y. (2020). The impact of aligning business, IT, and marketing strategies on firm performance. Industrial Marketing Management, 84, 39-49. https://doi.org/10.1016/j.indmarman.2019.04.002 Alauddin, M. D., & Chowdhury, M. M. (2015). Small and medium enterprise in Bangladesh-Prospects and challenges. Global Journal of Management and Business Research, 15(7), 1-11. https://journalofbusiness.org/index.php/GJMBR/article/view/1763 Anabila, P. (2020). Integrated marketing communications, brand equity, and business performance in micro-finance institutions: An emerging market perspective. Journal of Marketing Communications, 26(3), 229-242. https://doi.org/10.1080/13527266.2019.1574868 Astuti, R.D., Afiff, A.Z., & Balqiah, E.T. (2018). Entrepreneurial marketing and marketing strategies of SMEs on marketing performance: an empirical analysis of fit. Pertanika Journal Social Science and Humanities, 26, 39-54. https://www.pertanika.upm.edu.my/pjssh/browse/special-issue?article=JSSH-S0689-2018 Barney, J.B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120. https://doi.org/10.1177/014920639101700108 Barney, J.B. (2001). Is the resource-based “view” a useful perspective for strategic management research? Academy of Management Review, 26(1), 41-56. https://doi.org/10.5465/amr.2001.4011938 Benazzouz, N.M. (2019). Entrepreneurial orientation and Innovation Intensity: A synthetic literature review. International Entrepreneurship Review 5(2), 23-36. https://doi.org/10.15678/IER.2019.0502.02 Bhat, S.A., & Darzi, M.A. (2016). Customer relationship management: An approach to competitive advantage in the banking sector by exploring the mediational role of loyalty. International Journal of Bank Marketing, 34(3), 388-410. https://doi.org/10.1108/IJBM-11-2014-0160 Blombäck, A., & Botero, I.C. (2013). Reputational capital in family firms: Understanding uniqueness from the stakeholder point of view. In P. Poutziouris, K. Smyrnios, & S. Goel, (Eds.), Handbook of Research on Family Business. Second Edition. Edward Elgar Publishing. Bobillo, A.M., Sanz, J.R., & Gaite, F.T. (2006). Innovation investment, competitiveness, and performance in industrial firms. Thunderbird International Business Review, 48(6), 867-890. https://doi.org/10.1002/tie.20126 Bocconcelli, R., Cioppi, M., Fortezza, F., Francioni, B., Pagano, A., Savelli, E., & Splendiani, S. (2018). SMEs and marketing: a systematic literature review. International Journal of Management Reviews, 20(2), 227-254. https://doi.org/10.1111/ijmr.12128 Boisen, M., Terlouw, K., Groote, P., & Couwenberg, O. (2018). Reframing place promotion, place marketing, and place branding - moving beyond conceptual confusion. Cities, 80, 4-11. https://doi.org/10.1016/j.cities.2017.08.021 Blanco-Callejo, M., & de Pablos-Heredero, C. (2019). Co-innovation at Mercadona: A radically different and unique innovation model in the retail sector. Journal of Business and Retail Management Research, 13(4), 326-341. https://doi.org/10.24052/JBRMR/V13IS04/ART-30 Cant, M. (2012). Challenges faced by SMEs in South Africa: Are marketing skills needed?. International Business & Economics Research Journal, 11(10), 1107-1116. https://doi.org/10.19030/iber.v11i10.7256 Cantwell, J. (2005). Innovation and competitiveness. In J. Fagerberg & D. C. Mowery (Eds.), The Oxford Handbook of Innovation (pp. 543-567). Oxford Academic. https://doi.org/10.1093/oxfordhb/9780199286805.003.0020 Chang-Muñoz, E., Mercado-Caruso, N., Gazabon, D.O., Segarra-Oña, M., & Osorio, S.N. (2022). Product or process innovation? The dilemma for exporting SMEs in emerging economies: the case of the Colombian Caribbean. Procedia Computer Science, 198, 620-625. https://doi.org/10.1016/j.procs.2021.12.296 Chiambaretto, P., & Dumez, H. (2012). The role of bundling in firms' marketing strategies: a synthesis. Recherche et Applications en Marketing, 27(2), 91-105. https://doi.org/10.1177/205157071202700205 Dash, G., Kiefer, K., & Paul, J. (2021). Marketing-to-Millennials: Marketing 4.0, customer satisfaction and purchase intention. Journal of Business Research, 122, 608-620. https://doi.org/10.1016/j.jbusres.2020.10.016 Davis, P.E., & Bendickson, J.S. (2021). Strategic antecedents of innovation: Variance between small and large firms. Journal of Small Business Management, 59(1), 47-72. https://doi.org/10.1111/jsbm.12478 Douglas, T.J., & Ryman, J.A. (2003). Understanding competitive advantage in the general hospital industry: evaluating strategic competencies. Strategic Management Journal, 24 (4), 333-347. https://doi.org/10.1002/smj.301 El-Sayed, A.M. (2022). The interrelationship between niche marketing and competitiveness. International Design Journal, 12(3), 65-78. https://dx.doi.org/10.21608/idj.2022.234783 Falát, L., & Holubčík, M. (2017). The influence of marketing communication on financial situation of the company–a case from automobile industry. Procedia Engineering, 192, 148-153. https://doi.org/10.1016/j.proeng.2017.06.026 Finoti, L., Didonet, S.R., Toaldo, A.M., & Martins, S.R. (2017). The role of the marketing strategy process in the innovativeness-performance relationship of SMEs. Marketing Intelligence and Planning, 35(3), 298-315. https://doi.org/10.1108/MIP-01-2016-0005 Flatten, T.C., Engelen, A., Moller, T., & Brettel, M. (2015). How entrepreneurial firms profit from pricing capabilities: an examination of technologybased ventures. Entrepreneurship Theory and Practice, 39(5), 1111–1136. https://doi.org/10.1111/etap.12098 Franco-Ángel, M., & Urbano, D. (2019). Caracterización de las pymes colombianas y de sus fundadores: un análisis desde dos regiones del país. Estudios Gerenciales, 35(150), 81-91. https://doi.org/10.18046/j.estger.2019.150.2968 Grant, R., Butler, B., Orr, S., & Murray, P.A. (2014). Contemporary strategic management: An Australasian perspective. John Wiley & Sons Australia, Ltd. https://au.wiley.com/WileyCDA/WileyTitle/productCd-EHEP003014.html Greene, W. (2003). Econometric Analysis. Pearson Education. Griffith, D.A., Dean, T., & Yalcinkaya, G. (2021). Building and leveraging competence exploitation and exploration for firm new product success. Industrial Marketing Management, 97, 233-244. https://doi.org/10.1016/j.indmarman.2021.07.004 Haar, J., O’Kane, C., & Daellenbach, U. (2022). High performance work systems and innovation in New Zealand SMEs: testing firm size and competitive environment effects. The International Journal of Human Resource Management, 33(16), 3324-3352. https://doi.org/10.1080/09585192.2021.1894213 Hamari, M., & Huttunen, M. (2016). The role of marketing communications in an innovation commercialization process of a start-up company. [Master dissertation, Business School Oulu University Finland]. http://jultika.oulu.fi/Record/nbnfioulu-201609082710 Horowitz, W.A., & Lai, E.L.C. (1996). Patent Length and the Rate of Innovation. International Economic Review, 37(4), 785–799. https://doi.org/10.2307/2527311 Ibrahim, E.B., & Harrison, T. (2020). The impact of internal, external, and competitor factors on marketing strategy performance. Journal of Strategic Marketing, 28(7), 639-658. https://doi.org/10.1080/0965254X.2019.1609571 Jasin, M. (2022). How the role of online and viral marketing and competitiveness ability on business performance of SMEs. Journal of Information Systems and Management, 1(2), 28-35. https://doi.org/10.4444/jisma.v1i2.257 Josephson, B.W., Jean L.J., & Babu J.M. (2016). Strategic marketing ambidexterity: antecedents and financial consequences. Journal of the Academy of Marketing Science, 44(4), 539–54. https://doi.org/10.1007/s11747-015-0438-5 Kamboj, S., & Rahman, Z. (2017). Market orientation, marketing capabilities and sustainable innovation: The mediating role of sustainable consumption and competitive advantage. Management Research Review, 40(6), 698-724. https://doi.org/10.1108/MRR-09-2014-0225 Khan, E.A. (2017). An investigation of marketing capabilities of informal microenterprises. International Journal of Sociology and Social Policy, 37(3/4), 186-202. https://doi.org/10.1108/IJSSP-09-2015-0094 Khan, H., & Khan, Z. (2021). The efficacy of marketing skills and market responsiveness in marketing performance of emerging market exporting firms in advanced markets: The moderating role of competitive intensity. International Business Review, 30(6), 101860. https://doi.org/10.1016/j.ibusrev.2021.101860 Keller, K.L. (2016). Unlocking the power of integrated marketing communications: How integrated is your IMC Program? Journal of Advertising, 45(3), 286–301. https://doi.org/10.1080/00913367.2016.1204967 Kozlenkova, I.V., Samaha, S.A., & Palmatier, R.W. (2014). Resource-based theory in marketing. Journal of the Academy of Marketing Science, 42(1), 1-21. https://doi.org/10.1007/s11747-013-0336-7 Lafuente, E., Vaillant, Y., & Moreno-Gómez, J. (2018). Transition in-and-out of exporting and its impact on employment growth. International Journal of Emerging Markets, 13(6), 1907-1927. https://doi.org/10.1108/IJoEM-08-2017-0306 Lafuente, E., Szerb, L., & Rideg, A. (2020). A system dynamics approach for assessing SMEs’ competitiveness. Journal of Small Business and Enterprise Development, 27(4), 555-578. https://doi.org/10.1108/JSBED-06-2019-0204 Lahtinen, V., Dietrich, T., & Rundle-Thiele, S. (2020). Long live the marketing mix. Testing the effectiveness of the commercial marketing mix in a social marketing context. Journal of Social Marketing, 10(3), 357-375. https://doi.org/10.1108/JSOCM-10-2018-0122 Laing, G. K. (2018). Seismic measurement of management accounting innovations: using the scale of innovation intensity. Management Accounting Frontiers, 1(1), 3-14. https://doi.org/10.52153/prj1017001 Londono, J.C., Wilson, B., & Osorio-Tinoco, F. (2020). Understanding the entrepreneurial intentions of youth: A PLS multi-group and FIMIX analysis using the model of goal-directed behavior. Journal of Entrepreneurship in Emerging Economies, 13(3), 301-326. https://doi.org/10.1108/JEEE-07-2019-0090 Luxton, S., Reid, M. & Mavondo. F. (2015). Integrated marketing communication capability and brand performance. Journal of Advertising, 44(1), 37–46. https://doi.org/10.1080/00913367.2014.934938 Mainardes, E.W., Rosa, C.A.D.M. & Nossa, S.N. (2020). Omnichannel strategy and customer loyalty in banking. International Journal of Bank Marketing, 38(4), 799-822. https://doi.org/10.1108/IJBM-07-2019-0272 Striedinger-Meléndez, M.P. (2018). El marketing digital transforma la gestión de Pymes en Colombia. Cuadernos Latinoamericanos de Administración, 14(27). https://www.redalyc.org/articulo.oa?id=409658132001 Möller, K., & Halinen, A. (2022). Clearing the paradigmatic fog—how to move forward in business marketing research. Industrial Marketing Management, 102, 280-300. https://doi.org/10.1016/j.indmarman.2022.01.021 Mohiuddin, B., Liu, H., Jayawardhena, C., & Dey, B. (2019). Impact of market orientation on firm’s customer-based performance: The moderating role of employee orientation. Journal of Marketing Management, 35(7-8), 662-692. https://doi.org/10.1080/0267257X.2019.1585928 Moldovan, S., Steinhart, Y., & Ofen S. (2014). “Share and scare”: Solving the communication dilemma of early adopters with a high need for uniqueness. Journal of Consumer Psychology, 25(1), 1-14. https://doi.org/10.1016/j.jcps.2014.06.001 Moreno-Gómez, J. & Lafuente, E. (2020). Analysis of competitiveness in Colombian family businesses. Competitiveness Review: An International Business Journal, 30(3), 339-354. https://doi.org/10.1108/CR-11-2018-0074 Moreno-Gómez, J., Escandón-Barboza, D., Moreno-Charris, A., & Zapata-Upegui, L. (2020). Analysis of the role of process innovation on export propensity in KIBS and non-KIBS firms in Colombia. Competitiveness Review: An International Business Journal, 31(3), 497–512. https://doi.org/10.1108/CR-12-2019-0154 Moreno-Gómez, J., Gómez-Betancourt, G.E., & Betancourt Ramírez, J.B. (2016). Board of director in the family business and its impact on socioemotional wealth. Revista Espacios, 37(8), 6-14. https://repositorio.cuc.edu.co/handle/11323/1142 Naidoo, V. (2010). Firm survival through a crisis: The influence of market orientation, marketing innovation and business strategy. Industrial Marketing Management, 39(8), 1311–1320. https://doi.org/10.1016/j.indmarman.2010.02.005 Narasimha, S. (2000). Organizational knowledge, human resource management, and sustained competitive advantage: Toward a framework. Competitiveness Review: An International Business Journal, 10(1), 123-135. https://doi.org/10.1108/eb046392 Nieto, M.J., & Santamaría, L. (2010). Technological collaboration: bridging the innovation gap between small and large firms. Journal of Small Business Management, 48(1), 44-69. https://doi.org/10.1111/j.1540-627X.2009.00286.x Ottosson, M., & Kindström, D. (2016). Exploring proactive niche market strategies in the steel industry: Activities and implications. Industrial Marketing Management, 55, 119-130. https://doi.org/10.1016/j.indmarman.2015.08.003 Park, C., Jun, J., Lee, T., & Lee, H. (2018). Customer orientation or employee orientation: Which matters more? The moderating role of firm size. Journal of Business & Industrial Marketing, 33(7), 1001–1011. https://doi.org/10.1108/JBIM-05-2017-0119 Pekovic, S., & Rolland, S. (2016). Quality standards and export activities: Do firm size and market destination matter? The Journal of High Technology Management Research, 27 (2), 110-118. https://doi.org/10.1016/j.hitech.2016.10.002 Priem, R., & Butler, J. (2001). Is the resource-based ‘view’ a useful perspective for strategic management research? Academy of Management Review, 26(1), 22-40. https://doi.org/10.5465/amr.2001.4011928 Purchase, S., & Volery, T. (2020). Marketing innovation: a systematic review. Journal of Marketing Management, 36(9-10), 763-793. https://doi.org/10.1080/0267257X.2020.1774631 Rambe, P. (2017). Social media marketing and business competitiveness: evidence from South African tourism SMMEs. Problems and Perspectives in Management, 15(2), 411-423. https://dx.doi.org/10.21511/ppm.15(2-2).2017.10 Revilla-Camacho, M.Á., Palacios-Florencio, B., Garzón, D., & Prado-Román, C. (2020). Marketing capabilities and innovation. How do they affect the financial results of hotels? Psychology & Marketing, 37(3), 506-518. https://doi.org/10.1002/mar.21316 Restrepo-Morales, J.A., Loaiza, O.L., & Vanegas, J.G. (2019). Determinants of innovation: A multivariate analysis in Colombian micro, small and medium-sized enterprises. Journal of Economics, Finance and Administrative Science, 24(47), 97-112. https://doi.org/10.1108/JEFAS-09-2018-0095 Rezvani, M., & Fathollahzadeh, Z. (2020). The impact of entrepreneurial marketing on innovative marketing performance in small-and mediumsized companies. Journal of Strategic Marketing, 28(2), 136-148. https://doi.org/10.1080/0965254X.2018.1488762 Rosenbusch, N., Brinckmann, J., & Bausch, A. (2011). Is innovation always beneficial? A meta-analysis of the relationship between innovation and performance in SMEs. Journal of business Venturing, 26(4), 441-457. https://doi.org/10.1016/j.jbusvent.2009.12.002 Schmitt, B. (1999). Experiential marketing. Journal of Marketing Management, 15(1-3), 53-67. https://doi.org/10.1362/026725799784870496 Song, C. E., & Sela, A. (2022). Phone and self: how smartphone use increases the preference for uniqueness. Journal of Marketing Research. https://doi.org/10.1177/00222437221120404 Tan, Q., & Sousa, C.M. (2015). Leveraging marketing capabilities into competitive advantage and export performance. International Marketing Review, 32(1), 78-102. https://doi.org/10.1108/IMR-12-2013-0279 Tang, Y., Wang, P., & Zhang, Y. (2007). Marketing and business performance of construction SMEs in China. Journal of Business & Industrial Marketing, 22(2), 118–125. https://doi.org/10.1108/08858620710730230 Timoumi, A., Gangwar, M., & Mantrala, M. K. (2022). Cross-channel effects of omnichannel retail marketing strategies: A review of extant datadriven research. Journal of Retailing, 98(1), 133-151. https://doi.org/10.1016/j.jretai.2022.02.008 Trischler, J., Pervan, S.J., Kelly, S.J., & Scott, D.R. (2018). The value of codesign: The effect of customer involvement in service design teams. Journal of Service Research, 21(1), 75-100. https://doi.org/10.1177/1094670517714060 Ungerman, O., Dedkova, J., & Gurinova, K. (2018). The impact of marketing innovation on the competitiveness of enterprises in the context of industry 4.0. Journal of Competitiveness, 10(2), 132-148. https://doi.org/10.7441/joc.2018.02.09 Valaei, N., Rezaei, S., Bressolles, G., & Dent, M.M. (2022). Indispensable components of creativity, innovation, and FMCG companies' competitive performance: a resource-based view (RBV) of the firm. Asia-Pacific Journal of Business Administration, 14(1), 1-26. https://doi.org/10.1108/APJBA-11-2020-0420 Vásquez, G.A.N., & Escamilla, E.M. (2014). Best practice in the use of social networks marketing strategy as in SMEs. Procedia-Social and Behavioral Sciences, 148, 533-542. https://doi.org/10.1016/j.sbspro.2014.07.076 Verhoef, P.C., Kannan, P.K., & Inman, J.J. (2015). From multi-channel retailing to omni-channel retailing. Introduction to the special issue on multichannel retailing. Journal of Retailing, 91(2), 174-181. https://doi.org/10.1016/j.jretai.2015.02.005 Vorhies, D.W., & Morgan, N.A. (2005). Benchmarking marketing capabilities for sustainable competitive advantage. Journal of Marketing, 69(1), 80- 94. https://doi.org/10.1509/jmkg.69.1.80.55505 Yacob, S., Erida, E., Machpuddin, A., & Alamsyah, D. (2021). A model for the business performance of micro, small and medium enterprises: Perspective of social commerce and the uniqueness of resource capability in Indonesia. Management Science Letters, 1(1), 101-110. https://dx.doi.org/10.5267/j.msl.2020.8.025 Wernerfelt, B. (1984). A resource-based view of the firm. Strategic Management Journal, 5(2), 171-180. https://doi.org/10.1002/smj.4250050207 Zanello, G., Fu, X., Mohnen, P., & Ventresca, M. (2016). The creation and diffusion of innovation in developing countries: A systematic literature review. Journal of Economic Surveys, 30(5), 884-912. https://doi.org/10.1111/joes.12126 |
| dc.relation.citationendpage.spa.fl_str_mv |
64 |
| dc.relation.citationstartpage.spa.fl_str_mv |
48 |
| dc.relation.citationissue.spa.fl_str_mv |
2 |
| dc.relation.citationvolume.spa.fl_str_mv |
17 |
| dc.rights.spa.fl_str_mv |
© 2023 |
| dc.rights.license.spa.fl_str_mv |
Atribución 4.0 Internacional (CC BY 4.0) |
| dc.rights.uri.spa.fl_str_mv |
https://creativecommons.org/licenses/by/4.0/ |
| dc.rights.accessrights.spa.fl_str_mv |
info:eu-repo/semantics/openAccess |
| dc.rights.coar.spa.fl_str_mv |
http://purl.org/coar/access_right/c_abf2 |
| rights_invalid_str_mv |
Atribución 4.0 Internacional (CC BY 4.0) © 2023 https://creativecommons.org/licenses/by/4.0/ http://purl.org/coar/access_right/c_abf2 |
| eu_rights_str_mv |
openAccess |
| dc.format.extent.spa.fl_str_mv |
18 páginas |
| dc.format.mimetype.spa.fl_str_mv |
application/pdf |
| dc.publisher.spa.fl_str_mv |
Business School, Instituto Tecnologico de Costa Rica |
| dc.publisher.place.spa.fl_str_mv |
Costa Rica |
| dc.source.spa.fl_str_mv |
https://www.researchgate.net/publication/370466741_Marketing_strategy_and_competitiveness_Evidence_from_Colombian_SMEs_Corresponding_Author |
| institution |
Corporación Universidad de la Costa |
| bitstream.url.fl_str_mv |
https://repositorio.cuc.edu.co/bitstreams/92499344-23a4-43e4-9553-1e94b5ad7d3a/download https://repositorio.cuc.edu.co/bitstreams/ff61c6c3-4ca9-422a-9014-6a1bb03e74d9/download https://repositorio.cuc.edu.co/bitstreams/56a87501-eab3-4ca5-90de-539b6031606b/download https://repositorio.cuc.edu.co/bitstreams/43dcc3aa-f315-4dfc-9291-e0ad6f1fa112/download |
| bitstream.checksum.fl_str_mv |
f4879d95112b4c2ab1c7ce2c9d8be639 2f9959eaf5b71fae44bbf9ec84150c7a 2742bfc092ba4d82411de917045d9344 8b656a36a59263ceb87a65fb2a2df0f2 |
| bitstream.checksumAlgorithm.fl_str_mv |
MD5 MD5 MD5 MD5 |
| repository.name.fl_str_mv |
Repositorio de la Universidad de la Costa CUC |
| repository.mail.fl_str_mv |
repdigital@cuc.edu.co |
| _version_ |
1828166903789518848 |
| spelling |
Atribución 4.0 Internacional (CC BY 4.0)© 2023https://creativecommons.org/licenses/by/4.0/info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2Moreno-Gómez, JorgeLondono, Juan CarlosZapata Upegui, Luis Felipe2023-05-12T21:53:09Z2023-05-12T21:53:09Z2023Moreno-Gómez, Jorge. (2023). Marketing strategy and competitiveness: Evidence from Colombian SMEs * Corresponding Author. TEC Empresarial. 17. 48-64. 10.18845/te.v17i2.6701.1659-2395https://hdl.handle.net/11323/1011410.18845/te.v17i2.67011659-3359Corporación Universidad de la CostaREDICUC - Repositorio CUChttps://repositorio.cuc.edu.co/This study evaluates how three distinct marketing strategies (i.e., marketing communication, marketing innovation, and marketing uniqueness) impact the competitiveness level of Colombian SMEs. We use a unique primary dataset drawn from the Global Competitiveness Project that includes information for 176 Colombian SMEs during 2019. We employ a regression model to test the proposed hypotheses highlighting the relevance of marketing innovation, uniqueness, and communication for SMEs' competitiveness. The findings reveal that Colombian SMEs are frequent users of marketing strategies. Results show that larger SMEs that use marketing strategies are more competitive than smaller ones. It was also found that strategic emphasis, which implies that SMEs work with one of the evaluated strategies, contributes to competitiveness. However, managers should consider the synergistic effects of using more than one strategy. The relevance of this study is to present a model that shows how larger SMEs can capitalize on different marketing strategies to consolidate their competitiveness level in the Colombian context.Este estudio evalúa cómo tres estrategias de marketing distintas (comunicación de marketing, innovación de marketing y singularidad de marketing) impactan el nivel de competitividad de las PYMES colombianas. Para ello, utilizamos un conjunto de datos primarios únicos extraídos del Proyecto de Competitividad Global (GCP: www. sme-gcp.org) que incluye información sobre 176 PYMES colombianas durante el 2019. Empleamos un modelo de regresión para probar las hipótesis propuestas para explicar la relevancia de la innovación en marketing, la singularidad y la comunicación en la competitividad de las PYMES colombianas. Contrariamente a lo esperado, las PYMES colombianas son usuarias frecuentes de estrategias de marketing. Los resultados evidenciaron que las PYMES de mayor tamaño que utilizan estrategias de marketing son más competitivas que las más pequeñas. Un directivo de una PYME que solo desarrolle una de las estrategias evaluadas puede contribuir a ganar competitividad en una de las estrategias evaluadas puede contribuir a ganar competitividad. Sin embargo, los gerentes deben considerar los efectos sinérgicos de usar más de una estrategia. La relevancia de este estudio se origina en el reconocimiento de que las PYMES de mayor tamaño tienen ventaja al utilizar estrategias de innovación para consolidarse en el contexto colombiano.18 páginasapplication/pdfengBusiness School, Instituto Tecnologico de Costa RicaCosta Ricahttps://www.researchgate.net/publication/370466741_Marketing_strategy_and_competitiveness_Evidence_from_Colombian_SMEs_Corresponding_AuthorMarketing strategy and competitiveness: evidence from Colombian SMEsLas estrategias de marketing y la competitividad: evidencia de las PYMES colombianasArtículo de revistahttp://purl.org/coar/resource_type/c_2df8fbb1Textinfo:eu-repo/semantics/articlehttp://purl.org/redcol/resource_type/ARTinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/version/c_970fb48d4fbd8a85Tec EmpresarialAaker, D.A. (1996). Measuring Brand Equity across Products and Markets. California Management Review, 38(3), 102-120. https://dx.doi.org/10.2307/41165845Acs, Z. J., & Audretsch, D. B. (1988). Innovation in large and small firms: an empirical analysis. The American Economic Review, 78(4), 678-690. https://www.jstor.org/stable/1811167Aghazadeh, H. (2015). Strategic marketing management: Achieving superior business performance through intelligent marketing strategy. ProcediaSocial and Behavioral Sciences, 207, 125-134. https://doi.org/10.1016/j.sbspro.2015.10.161Ahmad, A., Salleh, S.M., & Perumal, S. (2019). Brand related capabilities and the process of integrated marketing communications (IMC): A ResourceBased View (RBV). Journal of Contemporary Research in Social Sciences, 1(6), 136-150. https://doi.org/10.33094/26410249.2019.16.136.150Ahmadjian, C.L. (2016). Comparative Institutional analysis and institutional complexity. Journal of Management Studies, 53(1), 12-27. https://doi.org/10.1111/joms.12178Ahmadjian, C.L. (2016). Comparative Institutional analysis and institutional complexity. Journal of Management Studies, 53(1), 12-27. https://doi.org/10.1111/joms.12178Al-Surmi, A., Cao, G., & Duan, Y. (2020). The impact of aligning business, IT, and marketing strategies on firm performance. Industrial Marketing Management, 84, 39-49. https://doi.org/10.1016/j.indmarman.2019.04.002Alauddin, M. D., & Chowdhury, M. M. (2015). Small and medium enterprise in Bangladesh-Prospects and challenges. Global Journal of Management and Business Research, 15(7), 1-11. https://journalofbusiness.org/index.php/GJMBR/article/view/1763Anabila, P. (2020). Integrated marketing communications, brand equity, and business performance in micro-finance institutions: An emerging market perspective. Journal of Marketing Communications, 26(3), 229-242. https://doi.org/10.1080/13527266.2019.1574868Astuti, R.D., Afiff, A.Z., & Balqiah, E.T. (2018). Entrepreneurial marketing and marketing strategies of SMEs on marketing performance: an empirical analysis of fit. Pertanika Journal Social Science and Humanities, 26, 39-54. https://www.pertanika.upm.edu.my/pjssh/browse/special-issue?article=JSSH-S0689-2018Barney, J.B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120. https://doi.org/10.1177/014920639101700108Barney, J.B. (2001). Is the resource-based “view” a useful perspective for strategic management research? Academy of Management Review, 26(1), 41-56. https://doi.org/10.5465/amr.2001.4011938Benazzouz, N.M. (2019). Entrepreneurial orientation and Innovation Intensity: A synthetic literature review. International Entrepreneurship Review 5(2), 23-36. https://doi.org/10.15678/IER.2019.0502.02Bhat, S.A., & Darzi, M.A. (2016). Customer relationship management: An approach to competitive advantage in the banking sector by exploring the mediational role of loyalty. International Journal of Bank Marketing, 34(3), 388-410. https://doi.org/10.1108/IJBM-11-2014-0160Blombäck, A., & Botero, I.C. (2013). Reputational capital in family firms: Understanding uniqueness from the stakeholder point of view. In P. Poutziouris, K. Smyrnios, & S. Goel, (Eds.), Handbook of Research on Family Business. Second Edition. Edward Elgar Publishing.Bobillo, A.M., Sanz, J.R., & Gaite, F.T. (2006). Innovation investment, competitiveness, and performance in industrial firms. Thunderbird International Business Review, 48(6), 867-890. https://doi.org/10.1002/tie.20126Bocconcelli, R., Cioppi, M., Fortezza, F., Francioni, B., Pagano, A., Savelli, E., & Splendiani, S. (2018). SMEs and marketing: a systematic literature review. International Journal of Management Reviews, 20(2), 227-254. https://doi.org/10.1111/ijmr.12128Boisen, M., Terlouw, K., Groote, P., & Couwenberg, O. (2018). Reframing place promotion, place marketing, and place branding - moving beyond conceptual confusion. Cities, 80, 4-11. https://doi.org/10.1016/j.cities.2017.08.021Blanco-Callejo, M., & de Pablos-Heredero, C. (2019). Co-innovation at Mercadona: A radically different and unique innovation model in the retail sector. Journal of Business and Retail Management Research, 13(4), 326-341. https://doi.org/10.24052/JBRMR/V13IS04/ART-30Cant, M. (2012). Challenges faced by SMEs in South Africa: Are marketing skills needed?. International Business & Economics Research Journal, 11(10), 1107-1116. https://doi.org/10.19030/iber.v11i10.7256Cantwell, J. (2005). Innovation and competitiveness. In J. Fagerberg & D. C. Mowery (Eds.), The Oxford Handbook of Innovation (pp. 543-567). Oxford Academic. https://doi.org/10.1093/oxfordhb/9780199286805.003.0020Chang-Muñoz, E., Mercado-Caruso, N., Gazabon, D.O., Segarra-Oña, M., & Osorio, S.N. (2022). Product or process innovation? The dilemma for exporting SMEs in emerging economies: the case of the Colombian Caribbean. Procedia Computer Science, 198, 620-625. https://doi.org/10.1016/j.procs.2021.12.296Chiambaretto, P., & Dumez, H. (2012). The role of bundling in firms' marketing strategies: a synthesis. Recherche et Applications en Marketing, 27(2), 91-105. https://doi.org/10.1177/205157071202700205Dash, G., Kiefer, K., & Paul, J. (2021). Marketing-to-Millennials: Marketing 4.0, customer satisfaction and purchase intention. Journal of Business Research, 122, 608-620. https://doi.org/10.1016/j.jbusres.2020.10.016Davis, P.E., & Bendickson, J.S. (2021). Strategic antecedents of innovation: Variance between small and large firms. Journal of Small Business Management, 59(1), 47-72. https://doi.org/10.1111/jsbm.12478Douglas, T.J., & Ryman, J.A. (2003). Understanding competitive advantage in the general hospital industry: evaluating strategic competencies. Strategic Management Journal, 24 (4), 333-347. https://doi.org/10.1002/smj.301El-Sayed, A.M. (2022). The interrelationship between niche marketing and competitiveness. International Design Journal, 12(3), 65-78. https://dx.doi.org/10.21608/idj.2022.234783Falát, L., & Holubčík, M. (2017). The influence of marketing communication on financial situation of the company–a case from automobile industry. Procedia Engineering, 192, 148-153. https://doi.org/10.1016/j.proeng.2017.06.026Finoti, L., Didonet, S.R., Toaldo, A.M., & Martins, S.R. (2017). The role of the marketing strategy process in the innovativeness-performance relationship of SMEs. Marketing Intelligence and Planning, 35(3), 298-315. https://doi.org/10.1108/MIP-01-2016-0005Flatten, T.C., Engelen, A., Moller, T., & Brettel, M. (2015). How entrepreneurial firms profit from pricing capabilities: an examination of technologybased ventures. Entrepreneurship Theory and Practice, 39(5), 1111–1136. https://doi.org/10.1111/etap.12098Franco-Ángel, M., & Urbano, D. (2019). Caracterización de las pymes colombianas y de sus fundadores: un análisis desde dos regiones del país. Estudios Gerenciales, 35(150), 81-91. https://doi.org/10.18046/j.estger.2019.150.2968Grant, R., Butler, B., Orr, S., & Murray, P.A. (2014). Contemporary strategic management: An Australasian perspective. John Wiley & Sons Australia, Ltd. https://au.wiley.com/WileyCDA/WileyTitle/productCd-EHEP003014.htmlGreene, W. (2003). Econometric Analysis. Pearson Education.Griffith, D.A., Dean, T., & Yalcinkaya, G. (2021). Building and leveraging competence exploitation and exploration for firm new product success. Industrial Marketing Management, 97, 233-244. https://doi.org/10.1016/j.indmarman.2021.07.004Haar, J., O’Kane, C., & Daellenbach, U. (2022). High performance work systems and innovation in New Zealand SMEs: testing firm size and competitive environment effects. The International Journal of Human Resource Management, 33(16), 3324-3352. https://doi.org/10.1080/09585192.2021.1894213Hamari, M., & Huttunen, M. (2016). The role of marketing communications in an innovation commercialization process of a start-up company. [Master dissertation, Business School Oulu University Finland]. http://jultika.oulu.fi/Record/nbnfioulu-201609082710Horowitz, W.A., & Lai, E.L.C. (1996). Patent Length and the Rate of Innovation. International Economic Review, 37(4), 785–799. https://doi.org/10.2307/2527311Ibrahim, E.B., & Harrison, T. (2020). The impact of internal, external, and competitor factors on marketing strategy performance. Journal of Strategic Marketing, 28(7), 639-658. https://doi.org/10.1080/0965254X.2019.1609571Jasin, M. (2022). How the role of online and viral marketing and competitiveness ability on business performance of SMEs. Journal of Information Systems and Management, 1(2), 28-35. https://doi.org/10.4444/jisma.v1i2.257Josephson, B.W., Jean L.J., & Babu J.M. (2016). Strategic marketing ambidexterity: antecedents and financial consequences. Journal of the Academy of Marketing Science, 44(4), 539–54. https://doi.org/10.1007/s11747-015-0438-5Kamboj, S., & Rahman, Z. (2017). Market orientation, marketing capabilities and sustainable innovation: The mediating role of sustainable consumption and competitive advantage. Management Research Review, 40(6), 698-724. https://doi.org/10.1108/MRR-09-2014-0225Khan, E.A. (2017). An investigation of marketing capabilities of informal microenterprises. International Journal of Sociology and Social Policy, 37(3/4), 186-202. https://doi.org/10.1108/IJSSP-09-2015-0094Khan, H., & Khan, Z. (2021). The efficacy of marketing skills and market responsiveness in marketing performance of emerging market exporting firms in advanced markets: The moderating role of competitive intensity. International Business Review, 30(6), 101860. https://doi.org/10.1016/j.ibusrev.2021.101860Keller, K.L. (2016). Unlocking the power of integrated marketing communications: How integrated is your IMC Program? Journal of Advertising, 45(3), 286–301. https://doi.org/10.1080/00913367.2016.1204967Kozlenkova, I.V., Samaha, S.A., & Palmatier, R.W. (2014). Resource-based theory in marketing. Journal of the Academy of Marketing Science, 42(1), 1-21. https://doi.org/10.1007/s11747-013-0336-7Lafuente, E., Vaillant, Y., & Moreno-Gómez, J. (2018). Transition in-and-out of exporting and its impact on employment growth. International Journal of Emerging Markets, 13(6), 1907-1927. https://doi.org/10.1108/IJoEM-08-2017-0306Lafuente, E., Szerb, L., & Rideg, A. (2020). A system dynamics approach for assessing SMEs’ competitiveness. Journal of Small Business and Enterprise Development, 27(4), 555-578. https://doi.org/10.1108/JSBED-06-2019-0204Lahtinen, V., Dietrich, T., & Rundle-Thiele, S. (2020). Long live the marketing mix. Testing the effectiveness of the commercial marketing mix in a social marketing context. Journal of Social Marketing, 10(3), 357-375. https://doi.org/10.1108/JSOCM-10-2018-0122Laing, G. K. (2018). Seismic measurement of management accounting innovations: using the scale of innovation intensity. Management Accounting Frontiers, 1(1), 3-14. https://doi.org/10.52153/prj1017001Londono, J.C., Wilson, B., & Osorio-Tinoco, F. (2020). Understanding the entrepreneurial intentions of youth: A PLS multi-group and FIMIX analysis using the model of goal-directed behavior. Journal of Entrepreneurship in Emerging Economies, 13(3), 301-326. https://doi.org/10.1108/JEEE-07-2019-0090Luxton, S., Reid, M. & Mavondo. F. (2015). Integrated marketing communication capability and brand performance. Journal of Advertising, 44(1), 37–46. https://doi.org/10.1080/00913367.2014.934938Mainardes, E.W., Rosa, C.A.D.M. & Nossa, S.N. (2020). Omnichannel strategy and customer loyalty in banking. International Journal of Bank Marketing, 38(4), 799-822. https://doi.org/10.1108/IJBM-07-2019-0272Striedinger-Meléndez, M.P. (2018). El marketing digital transforma la gestión de Pymes en Colombia. Cuadernos Latinoamericanos de Administración, 14(27). https://www.redalyc.org/articulo.oa?id=409658132001Möller, K., & Halinen, A. (2022). Clearing the paradigmatic fog—how to move forward in business marketing research. Industrial Marketing Management, 102, 280-300. https://doi.org/10.1016/j.indmarman.2022.01.021Mohiuddin, B., Liu, H., Jayawardhena, C., & Dey, B. (2019). Impact of market orientation on firm’s customer-based performance: The moderating role of employee orientation. Journal of Marketing Management, 35(7-8), 662-692. https://doi.org/10.1080/0267257X.2019.1585928Moldovan, S., Steinhart, Y., & Ofen S. (2014). “Share and scare”: Solving the communication dilemma of early adopters with a high need for uniqueness. Journal of Consumer Psychology, 25(1), 1-14. https://doi.org/10.1016/j.jcps.2014.06.001Moreno-Gómez, J. & Lafuente, E. (2020). Analysis of competitiveness in Colombian family businesses. Competitiveness Review: An International Business Journal, 30(3), 339-354. https://doi.org/10.1108/CR-11-2018-0074Moreno-Gómez, J., Escandón-Barboza, D., Moreno-Charris, A., & Zapata-Upegui, L. (2020). Analysis of the role of process innovation on export propensity in KIBS and non-KIBS firms in Colombia. Competitiveness Review: An International Business Journal, 31(3), 497–512. https://doi.org/10.1108/CR-12-2019-0154Moreno-Gómez, J., Gómez-Betancourt, G.E., & Betancourt Ramírez, J.B. (2016). Board of director in the family business and its impact on socioemotional wealth. Revista Espacios, 37(8), 6-14. https://repositorio.cuc.edu.co/handle/11323/1142Naidoo, V. (2010). Firm survival through a crisis: The influence of market orientation, marketing innovation and business strategy. Industrial Marketing Management, 39(8), 1311–1320. https://doi.org/10.1016/j.indmarman.2010.02.005Narasimha, S. (2000). Organizational knowledge, human resource management, and sustained competitive advantage: Toward a framework. Competitiveness Review: An International Business Journal, 10(1), 123-135. https://doi.org/10.1108/eb046392Nieto, M.J., & Santamaría, L. (2010). Technological collaboration: bridging the innovation gap between small and large firms. Journal of Small Business Management, 48(1), 44-69. https://doi.org/10.1111/j.1540-627X.2009.00286.xOttosson, M., & Kindström, D. (2016). Exploring proactive niche market strategies in the steel industry: Activities and implications. Industrial Marketing Management, 55, 119-130. https://doi.org/10.1016/j.indmarman.2015.08.003Park, C., Jun, J., Lee, T., & Lee, H. (2018). Customer orientation or employee orientation: Which matters more? The moderating role of firm size. Journal of Business & Industrial Marketing, 33(7), 1001–1011. https://doi.org/10.1108/JBIM-05-2017-0119Pekovic, S., & Rolland, S. (2016). Quality standards and export activities: Do firm size and market destination matter? The Journal of High Technology Management Research, 27 (2), 110-118. https://doi.org/10.1016/j.hitech.2016.10.002Priem, R., & Butler, J. (2001). Is the resource-based ‘view’ a useful perspective for strategic management research? Academy of Management Review, 26(1), 22-40. https://doi.org/10.5465/amr.2001.4011928Purchase, S., & Volery, T. (2020). Marketing innovation: a systematic review. Journal of Marketing Management, 36(9-10), 763-793. https://doi.org/10.1080/0267257X.2020.1774631Rambe, P. (2017). Social media marketing and business competitiveness: evidence from South African tourism SMMEs. Problems and Perspectives in Management, 15(2), 411-423. https://dx.doi.org/10.21511/ppm.15(2-2).2017.10Revilla-Camacho, M.Á., Palacios-Florencio, B., Garzón, D., & Prado-Román, C. (2020). Marketing capabilities and innovation. How do they affect the financial results of hotels? Psychology & Marketing, 37(3), 506-518. https://doi.org/10.1002/mar.21316Restrepo-Morales, J.A., Loaiza, O.L., & Vanegas, J.G. (2019). Determinants of innovation: A multivariate analysis in Colombian micro, small and medium-sized enterprises. Journal of Economics, Finance and Administrative Science, 24(47), 97-112. https://doi.org/10.1108/JEFAS-09-2018-0095Rezvani, M., & Fathollahzadeh, Z. (2020). The impact of entrepreneurial marketing on innovative marketing performance in small-and mediumsized companies. Journal of Strategic Marketing, 28(2), 136-148. https://doi.org/10.1080/0965254X.2018.1488762Rosenbusch, N., Brinckmann, J., & Bausch, A. (2011). Is innovation always beneficial? A meta-analysis of the relationship between innovation and performance in SMEs. Journal of business Venturing, 26(4), 441-457. https://doi.org/10.1016/j.jbusvent.2009.12.002Schmitt, B. (1999). Experiential marketing. Journal of Marketing Management, 15(1-3), 53-67. https://doi.org/10.1362/026725799784870496Song, C. E., & Sela, A. (2022). Phone and self: how smartphone use increases the preference for uniqueness. Journal of Marketing Research. https://doi.org/10.1177/00222437221120404Tan, Q., & Sousa, C.M. (2015). Leveraging marketing capabilities into competitive advantage and export performance. International Marketing Review, 32(1), 78-102. https://doi.org/10.1108/IMR-12-2013-0279Tang, Y., Wang, P., & Zhang, Y. (2007). Marketing and business performance of construction SMEs in China. Journal of Business & Industrial Marketing, 22(2), 118–125. https://doi.org/10.1108/08858620710730230Timoumi, A., Gangwar, M., & Mantrala, M. K. (2022). Cross-channel effects of omnichannel retail marketing strategies: A review of extant datadriven research. Journal of Retailing, 98(1), 133-151. https://doi.org/10.1016/j.jretai.2022.02.008Trischler, J., Pervan, S.J., Kelly, S.J., & Scott, D.R. (2018). The value of codesign: The effect of customer involvement in service design teams. Journal of Service Research, 21(1), 75-100. https://doi.org/10.1177/1094670517714060Ungerman, O., Dedkova, J., & Gurinova, K. (2018). The impact of marketing innovation on the competitiveness of enterprises in the context of industry 4.0. Journal of Competitiveness, 10(2), 132-148. https://doi.org/10.7441/joc.2018.02.09Valaei, N., Rezaei, S., Bressolles, G., & Dent, M.M. (2022). Indispensable components of creativity, innovation, and FMCG companies' competitive performance: a resource-based view (RBV) of the firm. Asia-Pacific Journal of Business Administration, 14(1), 1-26. https://doi.org/10.1108/APJBA-11-2020-0420Vásquez, G.A.N., & Escamilla, E.M. (2014). Best practice in the use of social networks marketing strategy as in SMEs. Procedia-Social and Behavioral Sciences, 148, 533-542. https://doi.org/10.1016/j.sbspro.2014.07.076Verhoef, P.C., Kannan, P.K., & Inman, J.J. (2015). From multi-channel retailing to omni-channel retailing. Introduction to the special issue on multichannel retailing. Journal of Retailing, 91(2), 174-181. https://doi.org/10.1016/j.jretai.2015.02.005Vorhies, D.W., & Morgan, N.A. (2005). Benchmarking marketing capabilities for sustainable competitive advantage. Journal of Marketing, 69(1), 80- 94. https://doi.org/10.1509/jmkg.69.1.80.55505Yacob, S., Erida, E., Machpuddin, A., & Alamsyah, D. (2021). A model for the business performance of micro, small and medium enterprises: Perspective of social commerce and the uniqueness of resource capability in Indonesia. Management Science Letters, 1(1), 101-110. https://dx.doi.org/10.5267/j.msl.2020.8.025Wernerfelt, B. (1984). A resource-based view of the firm. Strategic Management Journal, 5(2), 171-180. https://doi.org/10.1002/smj.4250050207Zanello, G., Fu, X., Mohnen, P., & Ventresca, M. (2016). The creation and diffusion of innovation in developing countries: A systematic literature review. Journal of Economic Surveys, 30(5), 884-912. https://doi.org/10.1111/joes.121266448217Marketing communicationMarketing innovationMarketing uniquenessCompetitivenessSMEsColombiaComunicación de mercadeoInnovación de mercadeoSingularidad de mercadeoCompetitividadPymesPublicationORIGINALMarketingstrategyandcompetitivenessevidencefromColombianSMEs.pdfMarketingstrategyandcompetitivenessevidencefromColombianSMEs.pdfArtículoapplication/pdf581289https://repositorio.cuc.edu.co/bitstreams/92499344-23a4-43e4-9553-1e94b5ad7d3a/downloadf4879d95112b4c2ab1c7ce2c9d8be639MD51LICENSElicense.txtlicense.txttext/plain; charset=utf-814828https://repositorio.cuc.edu.co/bitstreams/ff61c6c3-4ca9-422a-9014-6a1bb03e74d9/download2f9959eaf5b71fae44bbf9ec84150c7aMD52TEXTMarketingstrategyandcompetitivenessevidencefromColombianSMEs.pdf.txtMarketingstrategyandcompetitivenessevidencefromColombianSMEs.pdf.txtExtracted texttext/plain67924https://repositorio.cuc.edu.co/bitstreams/56a87501-eab3-4ca5-90de-539b6031606b/download2742bfc092ba4d82411de917045d9344MD53THUMBNAILMarketingstrategyandcompetitivenessevidencefromColombianSMEs.pdf.jpgMarketingstrategyandcompetitivenessevidencefromColombianSMEs.pdf.jpgGenerated Thumbnailimage/jpeg6209https://repositorio.cuc.edu.co/bitstreams/43dcc3aa-f315-4dfc-9291-e0ad6f1fa112/download8b656a36a59263ceb87a65fb2a2df0f2MD5411323/10114oai:repositorio.cuc.edu.co:11323/101142024-09-17 14:24:10.457https://creativecommons.org/licenses/by/4.0/© 2023open.accesshttps://repositorio.cuc.edu.coRepositorio de la Universidad de la Costa CUCrepdigital@cuc.edu.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 |