Projects / Programmes
Marketing resources of companies in Slovenia and their impact on market and financial performance
| Code |
Science |
Field |
Subfield |
| 5.02.02 |
Social sciences |
Economics |
Business sciences |
| Code |
Science |
Field |
| S191 |
Social sciences |
Market study |
| S180 |
Social sciences |
Economics, econometrics, economic theory, economic systems, economic policy |
marketing resources, competitive advantages, market performance, financial performance, innovation resources, reputational resources, marketing strategies, customer relationship marketing
Researchers (9)
Organisations (2)
Abstract
The latest research in the field of management and marketing emphasizes the need for integration of different conceptual views in understanding the companies' competitive advantages (market based view and resources based view). Thus there are two fundamental questions: which are the key marketing resources that contribute to the development of the competitive advantages of companies and how do marketing resources impact the companies’ market and financial performance. Scientific literature is discussing the mentioned issues in the scope of resource based theory, most often listing the following marketing resources: innovation, market orientation, products’ (goods and services) and organisations’ reputation, marketing strategies, and customer (buyers, users) relationship marketing.
Many companies in Slovenia do not have adequately developed marketing resources and do not deploy them in the way to form the basis for achieving sustainable competitive advantages. Additionally they are also not familiar with the importance of individual marketing resources and their interrelations. Consequently they are not familiar with the impacts of marketing resources and their combinations (mixes) on various aspects of market and financial performance. Scientific research abroad has only partially addressed mentioned issues, therefore in the scope of resource based theory the integral model that would explain interrelations between discussed concepts still doesn’t exist. Similar conclusion is also true for Slovenia.
The basic objectives of the proposed research are: to develop the methodological tool for measuring the selected marketing resources, to measure the deployment of different marketing resources of companies in Slovenia, to reveal the relationship between individual marketing resources and various aspects of market and financial performance of companies in Slovenia and to develop an model regarding the marketing resources impact on various aspects of market and financial performance of companies in Slovenia.
Significance for science
With the results of fundamental research project we have contributed to the development of the RBT theory, specifically in the field of marketing. In comparison with other authors (npr. Baker in Sinkula 2005; Desphande et al. 1993; Desphande in Farley, 2004; Han et al., 1998; Hooley et al., 2005; Hurley in Hult, 1998; Hult et al., 2004; Matsuno in Mentzer, 2000; Menguc in Auh, 2006) our model includes more constructs through which marketing resources are manifested. In such way more holistic research design has been used. The most important marketing resources that have also been included considering this point of view are reputational resources, internal marketing and customer relationship capabilities. The concepts used by authors in this research project have been used by just a few authors in the frame of RBT. Considering the direct and indirect impact of explored marketing resources on market and financial organizational performance we derived results that also contribute new knowledge to marketing theory.
The second contribution of our research is in considering internal and external factors that influence organizational performance. In doing so, besides marketing resources, also other control variables (market turbulence, technological turbulence, firm size, industry) that can significantly relate to development of competitive advantages, were included in the research. This means that the parallel use of two approaches has been implemented: Porter’s approach and RBT approach. In the majority of cases until now the researched topic has been addressed only using one of both approaches.
In this research the new measurement instruments for the following marketing resources have been developed: market orientation, internal marketing orientation, innovation resources, reputational resources, customer relationship management capabilities and marketing strategy. Instruments that have been developed in the literature in the past (Baker in Sinkula, 1999; Hurley in Hult, 1998; Hooley et al., 2005; Narver in Slater, 1990) have been used as a basis for the development of our instruments (mainly for the fields of market orientation, innovativeness and customer relationships).
The next important contribution of our research is the testing of RBT in more changeable and unstable environment that the one typical for western countries. Some research of marketing resources impacts in transitional countries have been done only in China (Luo et al., 2005), while marketing resources research in middle and eastern European transitional countries has been very rear. We proved that RBT theory is compatible for research of factors that influence company performance also in transitional countries.
With the exception of very rear research projects that have only considered single marketing resources, (Leskovar-Špacapan in Bastič, 2007; Čater, 2004; Snoj in Hudoklin, 2006; Snoj et al., 2004) until now no clear information about the level of the use of various marketing resources in companies in Slovenia existed. There has also been no information how the level of using marketing resources impacts market and financial performance of organizations in Slovenia. Research results also give important informational insight in this respect.
Significance for the country
Due to numerous criteria (the legacy of a relatively closed society and economy in the past and also today's lack of openness, small size of companies, subjectivity of the discussed concepts and the lack of generally applicable paradigms in the marketing science in general, relatively difficult verification of results, etc.) marketing is undoubtedly among the most neglected business functions in companies and organisations in Slovenia. Our research offers a well founded basis to companies/organisations for easier and better understanding of their investments in marketing resources and of the relationships between these investments and organisational performance.
Such basis for the operation of companies/organisations understandably increases the value of their products and services, and the value of companies/organisations in the relevant markets. Its results undoubtedly positively impact the socio-economic development of the Republic of Slovenia.
One of the fundamental EU guidelines is an increased care to intensify innovativeness of its members. In the basic project we have studied the predecessors of innovation (market orientation and internal marketing), the consequences of innovations and innovations itself. The developed model clearly shows which antecedents (from the viewpoint of marketing resources) are relevant for the development of innovation resources for the companies which perform their business in different environments. The publication of the results of the research will contribute to increased sensitivity of organisations in Slovenia regarding the development of innovation resources.
Most important scientific results
Final report,
complete report on dLib.si
Most important socioeconomically and culturally relevant results
Final report,
complete report on dLib.si
