Abstract
This paper presents theoretical and empirical research on the activities and attitudes of a family business owner regarding marketing as a business function. The development of successful business relationships of a family business is tightly connected with the activities of the business owner. The theoretical review examined numerous family and non-family business studies by analyzing the existing paradigms of marketing management as a whole. The empirical research, surveying 420 family businesses in Serbia, defined the overall role of the family business owner in customer relationship management regarding business-to-business (B2B) and business-to-consumer (B2C) relationships. Key findings suggest that the main difference in customer relationship management (CRM) between family and non-family companies is related to B2B relationships, which the family business owner is heavily involved in managing, in terms of invested time and responsibility. Future research should cover aspects of internationalization (to regional markets) because it is essential to cross-examine regional with local contacts of a family business owner, to provide full comprehension of the complexity of market relationships in a family business environment.
Highlights
Marketing is more than just promotion and communication
The theoretical review concerning marketing CRM and family business studies integrally examined the role of owners in the creation and execution of successful customer relationship management activities, taking into consideration specific industries and the parent where a family company operates
The key contribution of this paper is the recognition of actual trends in the implementation of CRM activities, defining the role and level of involvement of the owner
Summary
Marketing is more than just promotion and communication It is more than a commercial, an advertisement on the Internet or a social network presentation. It encompasses the entire journey of the customer, and it starts from the first touch point (initial purchase) to the moment of contract or service renewal. It represents a wide range of activities from a top-level marketing plan to workflows and customer care. Previous studies on the topic of marketing as a business function in family-owned companies mostly focus on marketing communication [1], branding [2], and product portfolio-related topics [3]. According to the Annual World Economic Forum report [9], the most important research papers currently trending predominantly concern generation transition, technology and innovation, governance, trust, and the roles of the family business owner, assuming her or him as the main responsible authority for the majority of business decisions
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