Abstract
Studies in management and marketing strategy have proven that various dimensions of marketing capabilities are associated with firm performance in a positives way. However, most of the researchers have focused on the relationships within relatively large-sized firms in industrialized countries. In this study, the author investigates market information management capability and marketing control capability and their possible antecedents, strategic orientations (i.e., customer, competitor, and technology orientation) in small-sized firms in Korea. Based on 180 data of small-scaled firms with no more than 500 employees across industries, both capabilities have been found to have an affirmative influence on firm performance. Furthermore, three focal orientations have been proven to drive both capabilities in a positive way. From the additional two-group analysis based on firm size, market information management capability has been found to be more critical to micro-sized firms with 100 employees or fewer while both capabilities show equally important positive impact for small-sized firms with between 500 and 101 employees. Implications are addressed along with the limitations and further research directions.
Highlights
1.1 Research BackgroundNumerous studies have proven that various dimensions of marketing capabilities are associated with firm performance in a positives way, but most of the studies have focused on finding the relationship within relatively large-sized firms in industrialized countries (Morgan, Vorhies & Mason, 2009; Fahy et al, 2000)
The current study investigates the relationships between two marketing capabilities: market information management and marketing control and firm performance among small-scaled Korean firms
The results show a direct influence of two dimensions of marketing capability on firm performance within small-sized firms—further strengthening findings from previous studies with larger firms (e.g., Morgan et al, 2003; Shin, 2011; Vorhies & Morgan, 2005)
Summary
Numerous studies have proven that various dimensions of marketing capabilities are associated with firm performance in a positives way, but most of the studies have focused on finding the relationship within relatively large-sized firms in industrialized countries (Morgan, Vorhies & Mason, 2009; Fahy et al, 2000). Researches regarding the value of marketing-related capabilities in small-sized firms have been rarely treated as a major topic in marketing strategy. Even though how marketing capabilities affect firm level outcomes in small businesses may differ from the influential paths of marketing capabilities in large firms, lack of research in the specific area leaves a marginal implication to relatively smaller-sized organizations in emerging nations such as Korea. The importance of understanding how small-sized firms develop competitive advantages with marketing-related capabilities should not be neglected. Selected and cultivated capabilities may bring the firms maximized financial benefits of resource allocations and sustainable advantages
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