The Role of Entrepreneurial Marketing in Developing Economic Countries (Saudi Arabia Case Study for SME)

Abstract

The Kingdom of Saudi Arabia is growing into an economic power in the Middle East. However, small- and medium-sized business establishments continue to struggle to break the local market. The challenges faced by the businesses result from the lack of adequate information, poor technological infrastructure, untrained human resource personnel, and consumer behaviors. Entrepreneurial marketing provides an adequate means through which business organizations in Saudi Arabia can build a competitive advantage and penetrate the market more efficiently and effectively. The approach enables value creation, resource manipulation/utilization, opportunity focus, innovation, risk-taking, customer intensity, and proactive practices, allowing businesses to become competitive. The study evaluates the connection between competitive advantage and entrepreneurial marketing, informing business stakeholders and policymakers on the best marketing practices to ensure the success and sustainability of small- and medium-sized firms in Saudi Arabia. The study employed the qualitative approach to facilitate data gathering. The study involved fourteen participants recruited from a WhatsApp group and interviewed over the phone. The study findings established differences from sector to sector in terms of marketing opinions and skill. The subjects identified value creation, resource manipulation/utilization, opportunity focus, innovation, customer intensity, and proactive practices to be critical to building a competitive advantage, with risk-taking considered insignificant. Given the source of challenges facing small and medium organizations in Saudi Arabia, there is a need to ensure education and access to information for SME stakeholders. Similarly, the Saudi government needs to put in place adequate technology infrastructure to facilitate the growth and development of the businesses.