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Determinants of marketing innovation among SMEs in Vietnam: a resource-based and stakeholder perspective
- Source :
- Innovative Marketing, Vol 16, Iss 4, Pp 74-90 (2020)
- Publication Year :
- 2020
- Publisher :
- LLC "CPC "Business Perspectives", 2020.
-
Abstract
- Innovative marketing practices are essential for firms to increase sales and profitability. This paper aims to investigate the determinants of firms’ marketing innovation based on the employment of resource-based view and stakeholder theory. A probit regression model linking marketing innovation with proxies of firms’ resources and pressures from firms’ stakeholders was tested based on a dataset of 5,857 Vietnamese enterprises taken from a survey by the Ministry of Science and Technology of Vietnam in 2016. The findings indicate that firms’ size decreases the probability of marketing innovation by 1%, while internal knowledge gained from internal R&D causes the probability of marketing innovation to increase by 0.18%. Besides, the political connection and collaborations with competitors and private consultants drive the probability that firms implement the marketing innovation up by 0.09%, 0.12%, and 0.09%, respectively. On the other hand, export-oriented firms are more likely to implement marketing innovation by 0.03%, while foreign ownership reduces the chance of this decision by 0.05%. This research also reveals the essential role of the firm’s market pressures to enter into new markets or improve product quality in encouraging marketing innovation by 0.16% and 0.13%, respectively. AcknowledgmentThis research was supported by National Economics University, Grant Number: 343-QĐ-ĐHKTQD.
Details
- Language :
- English
- ISSN :
- 18142427, 18166326, and 98246348
- Volume :
- 16
- Issue :
- 4
- Database :
- Directory of Open Access Journals
- Journal :
- Innovative Marketing
- Publication Type :
- Academic Journal
- Accession number :
- edsdoj.9824634818434bbdae264938fcfb06bb
- Document Type :
- article
- Full Text :
- https://doi.org/10.21511/im.16(4).2020.07