IDEAS home Printed from https://ideas.repec.org/a/col/000129/020573.html
   My bibliography  Save this article

An Analysis of Marketing Strategy in Small-and-Medium-sized Colombian Enterprises

Author

Listed:
  • Mónica Franco-Ángel
  • Mariam Rabih Awad Urbano

Abstract

This study analyses the marketing strategy implemented in SMEs. A case study is carried out with eight Colombian manufacturing companies with more than ten years of creation and more than fifty employees. The results show that these companies do not follow traditional marketing models, nor do they have formal and structured processes. Instead, their marketing strategy is based on understanding their customers, with whom they have a close relationship, by developing innovative products that meet their needs, structuring their costs to offer a competitive price, and constantly communicating the value they generate to the market. This article concludes that these companies follow a marketing strategy that allows them to be sustainable and competitive with the available resources.

Suggested Citation

  • Mónica Franco-Ángel & Mariam Rabih Awad Urbano, 2022. "An Analysis of Marketing Strategy in Small-and-Medium-sized Colombian Enterprises," Estudios Gerenciales, Universidad Icesi, vol. 38(165), pages 493-506, November.
    • Handle: RePEc:col:000129:020573
    DOI: 10.18046/j.estger.2022.165.5286
    as

    Download full text from publisher

    File URL: https://doi.org/10.18046/j.estger.2022.165.5286
    Download Restriction: no
    File URL: https://libkey.io/10.18046/j.estger.2022.165.5286?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Cacciolatti, Luca & Lee, Soo Hee, 2016. "Revisiting the relationship between marketing capabilities and firm performance: The moderating role of market orientation, marketing strategy and organisational power," Journal of Business Research, Elsevier, vol. 69(12), pages 5597-5610.
    2. David J. Teece & Gary Pisano & Amy Shuen, 1997. "Dynamic capabilities and strategic management," Strategic Management Journal, Wiley Blackwell, vol. 18(7), pages 509-533, August.
    3. G. Reza Nasiri & Nasim Ghaffari & Hamid Davoudpour, 2015. "Location-inventory and shipment decisions in an integrated distribution system: an efficient heuristic solution," European Journal of Industrial Engineering, Inderscience Enterprises Ltd, vol. 9(5), pages 613-637.
    4. Aksoy, Hasan, 2017. "How do innovation culture, marketing innovation and product innovation affect the market performance of small and medium-sized enterprises (SMEs)?," Technology in Society, Elsevier, vol. 51(C), pages 133-141.
    5. Falahat, Mohammad & Ramayah, T. & Soto-Acosta, Pedro & Lee, Yan-Yin, 2020. "SMEs internationalization: The role of product innovation, market intelligence, pricing and marketing communication capabilities as drivers of SMEs’ international performance," Technological Forecasting and Social Change, Elsevier, vol. 152(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sun, Wenbin & Price, Joseph & Ding, Yuan, 2019. "The longitudinal effects of internationalization on firm performance: The moderating role of marketing capability," Journal of Business Research, Elsevier, vol. 95(C), pages 326-337.
    2. Caroline Reimann & Fernando Carvalho & Marcelo Duarte, 2021. "The Influence of Dynamic and Adaptive Marketing Capabilities on the Performance of Portuguese SMEs in the B2B International Market," Sustainability, MDPI, vol. 13(2), pages 1-23, January.
    3. Sang-Uk Jung & Valeriia Shegai, 2023. "The Impact of Digital Marketing Innovation on Firm Performance: Mediation by Marketing Capability and Moderation by Firm Size," Sustainability, MDPI, vol. 15(7), pages 1-16, March.
    4. Mohammad Falahat & Yan-Yin Lee & Pedro Soto-Acosta & T. Ramayah, 2021. "Entrepreneurial, market, learning and networking orientations as determinants of business capability and international performance: the contingent role of government support," International Entrepreneurship and Management Journal, Springer, vol. 17(4), pages 1759-1780, December.
    5. Ijaz Hussain & Shaohong Mu & Muhammad Mohiuddin & Rizwan Qaiser Danish & Shrafat Ali Sair, 2020. "Effects of Sustainable Brand Equity and Marketing Innovation on Market Performance in Hospitality Industry: Mediating Effects of Sustainable Competitive Advantage," Sustainability, MDPI, vol. 12(7), pages 1-19, April.
    6. Khan, Huda, 2020. "Is marketing agility important for emerging market firms in advanced markets?," International Business Review, Elsevier, vol. 29(5).
    7. Sipos, Norbert & Lukovszki, Lívia & Rideg, András, 2022. "A kisvállalati termék- vagy szolgáltatásinnováció erőforrás-alapú megközelítése [A resource-based view of small business product/service innovation]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 929-961.
    8. Wann Yih Wu & Phuoc Thien Nguyen, 2019. "The Antecedents Of Dynamic Service Innovation Capabilities: The Moderating Roles Of Market Dynamism And Market Orientation," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 23(07), pages 1-30, October.
    9. Espeche, José Francisco Tragant & Sacristán-Navarro, María & Zúñiga-Vicente, José Ángel & Crespo, Nuno Fernandes, 2023. "Innovation and internationalisation during times of economic growth, crisis, and recovery prior to Covid-19: A configurational approach comparing Spanish manufacturing family and non-family firms," Journal of Family Business Strategy, Elsevier, vol. 14(1).
    10. Yoruk, Deniz E. & Bunduchi, Raluca & Yoruk, Esin & Crișan-Mitra, Catalina & Salanță, Irina-Iulia & Crișan, Emil Lucian, 2021. "Pathways to innovation in Romanian software SMEs: Exploring the impact of interdependencies between internationalisation and knowledge sources," Journal of International Management, Elsevier, vol. 27(4).
    11. Romina Gómez-Prado & Aldo Alvarez-Risco & Berdy Briggitte Cuya-Velásquez & Marián Arias-Meza & Nilda Campos-Dávalos & Luis Juarez-Rojas & Maria de las Mercedes Anderson-Seminario & Shyla Del-Aguila-Ar, 2022. "Product Innovation, Market Intelligence and Pricing Capability as a Competitive Advantage in the International Performance of Startups: Case of Peru," Sustainability, MDPI, vol. 14(17), pages 1-21, August.
    12. Davcik, Nebojsa S. & Sharma, Piyush, 2016. "Marketing resources, performance, and competitive advantage: A review and future research directions," Journal of Business Research, Elsevier, vol. 69(12), pages 5547-5552.
    13. Adams, Pamela & Bodas Freitas, Isabel Maria & Fontana, Roberto, 2019. "Strategic orientation, innovation performance and the moderating influence of marketing management," Journal of Business Research, Elsevier, vol. 97(C), pages 129-140.
    14. Hoque, Mohammad Tayeenul & Nath, Prithwiraj & Ahammad, Mohammad Faisal & Tzokas, Nikolaos & Yip, Nick, 2022. "Constituents of dynamic marketing capability: Strategic fit and heterogeneity in export performance," Journal of Business Research, Elsevier, vol. 144(C), pages 1007-1023.
    15. Mitrega, Maciej & Siemieniako, Dariusz & Makkonen, Hannu & Kubacki, Krzysztof & Bresciani, Stefano, 2021. "Versatile capabilities for growth in the context of transforming countries: Evidence from Polish manufacturing companies," Journal of Business Research, Elsevier, vol. 134(C), pages 156-170.
    16. Natenapang Thongsri & Alex Kung-Hsiung Chang, 2019. "Interactions Among Factors Influencing Product Innovation and Innovation Behaviour: Market Orientation, Managerial Ties, and Government Support," Sustainability, MDPI, vol. 11(10), pages 1-21, May.
    17. Rafal Matwiejczuk & Agnieszka Tluczak & Liliana Hawrysz, 2020. "Dynamic Capabilities Revisited: Lessons from Logistics," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 1), pages 979-996.
    18. Antonia Mohedano-Suanes & María-Ángeles Revilla-Camacho & Dolores Garzón, 2021. "Innovation orientation and long-term performance: The mediating role of market perception capability," International Entrepreneurship and Management Journal, Springer, vol. 17(2), pages 741-757, June.
    19. Swen Nadkarni & Reinhard Prügl, 2021. "Digital transformation: a review, synthesis and opportunities for future research," Management Review Quarterly, Springer, vol. 71(2), pages 233-341, April.
    20. Kibaek Lee & Jaeheung Yoo & Munkee Choi & Hangjung Zo & Andrew P Ciganek, 2016. "Does External Knowledge Sourcing Enhance Market Performance? Evidence from the Korean Manufacturing Industry," PLOS ONE, Public Library of Science, vol. 11(12), pages 1-19, December.

    More about this item

    Keywords

    marketing strategy; dynamic capabilities; marketing capabilities; SMEs management.;
    All these keywords.

    JEL classification:

    • M30 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - General
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:col:000129:020573. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Coordinador ICESI (email available below). General contact details of provider: https://edirc.repec.org/data/fciceco.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.