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Market(ing) Wisdom Differences between Family and Non-Family Firms: An Empirical Study on Small and Medium Enterprises

Market(ing) Wisdom Differences between Family and Non-Family Firms: An Empirical Study on Small and Medium Enterprises

Authors :
Hari S. Srivastava
Naveed R. Khan
Arsalan Mujahid Ghouri
V. G. Venkatesh
Mustafa Rehman Khan
Source :
The Lens
Publication Year :
2020
Publisher :
World Scientific Pub Co Pte Lt, 2020.

Abstract

In today’s competitive business environment, family and non-family small and medium enterprises (SMEs) strive to survive despite many challenges. Market knowledge and marketing efforts are crucial for them to sustain and enhance business with limited resources. In this paper, we examined three constructs (i) market orientation, (ii) marketing capabilities and (iii) marketing practices impact on the SMEs’ service sector performance. The interaction effect of ownership type (family and non-family firms) was also observed in the model. Data was collected from 240 SMEs in three major metropolitan cities. This study found positive relationships of each construct (market orientation, (ii) marketing capabilities and (iii) marketing practices) on firm performance as hypothesised. The interaction effect of ownership type i.e. family and non-family, evident on marketing capabilities and SMEs’ performance. Non-family businesses are open for adopting new ideas and personnel into decision making. Family firms should be more adaptable to compete with non-family firms. The managerial and theoretical implications discussed in family and non-family firms’ perspective.

Details

ISSN :
17936330 and 02184958
Volume :
28
Database :
OpenAIRE
Journal :
Journal of Enterprising Culture
Accession number :
edsair.doi.dedup.....b8610329481af5ba52be3add5ab5d84a
Full Text :
https://doi.org/10.1142/s0218495820500089