Strategic Marketing Management Research Articles

АНАЛІЗ ТА НАПРЯМИ ПІДВИЩЕННЯ ЕФЕКТИВНОСТІ УПРАВЛІНСЬКИХ РІШЕНЬ У СФЕРІ СТІЙКОСТІ БІЗНЕСУ В УМОВАХ КРИЗИ

The object of the study is the process of maintaining viability and ensuring the development of enterprises in crisis conditions. It was established that for such purposes, the formation and implementation of tools and means of anti-crisis management, aimed at strengthening the stability of the business entity in crisis conditions, becomes critically relevant. It is emphasized that in the conditions of a crisis caused by a full-scale war, the emphasis and prerogatives in the management of sustainability change for the sake of stability and orderliness of the functioning and development of economic entities. It is additionally argued that in crisis situations, the focus of attention shifts from issues of high efficiency to the task of preventing challenges and threats, when the subject of attention is the economic security of business, the relevant mechanisms and tools for ensuring it. Based on these principles, the purpose of the study is to analyze and identify directions for improving the effectiveness of management decisions in the field of business sustainability in crisis conditions. The implementation of the specified goal made it possible to develop a complex of means of improvement and development of anti-crisis management systems of domestic enterprises. According to the results of the survey of managers of domestic enterprises, their low activity in the field of business sustainability management and the concentration of measures in this field mainly only on monitoring the financial and economic condition of the enterprise were established, the current market situation and its changing trends, assortment, quality and price parameters of the products presented on the market. The leading factors that weaken the state of stability of domestic enterprises have been identified, which remain the unstable market conditions, in particular demand, pressure from competitors, insufficiently high level of development of the industry and related types of economic activity, underdevelopment of the product sales system, lack of material and technical and technical and technological support of enterprises. It has been proven that the difficulties of the war lead to the complication of the survival conditions of economic entities and, accordingly, require greater efforts of domestic enterprises to preserve their own financial and economic stability. The structural and functional basis for improving management in the field of managing the stability of domestic enterprises in crisis conditions through the rationalization of their strategic marketing management, which involves the implementation of measures of a financial-economic, organizational-production, intellectual-personnel, and socio-economic nature, is substantiated. An aggregated structural model of anti-crisis management in the area of guaranteeing the sustainability of domestic enterprises has been developed.

STRATEGIC MARKETING MANAGEMENT ANALYSIS IN THE COMMERCIAL FISHING SECTOR IN THE CITY OF BOGOTÁ- COLÔMBIA

Objective: The objective of the study was to develop the analysis of strategic marketing management in the commercial fishing sector in the Paloquemao plaza in Bogotá, in order to increase productivity, based on sustainability models.
 Theoretical Framework: In this topic, the sustainability model for SMEs describes how to improve the relationship of a company's human capital and how, based on these, the environmental components are integrated into the processes and therefore the economic component is adjusted by generating a better organizational climate. which permeates the marketing management of companies and improves their visibility as should happen in the commercial fishing sector of the city of Bogota.
 Method: An exploratory and comparative study was used, the analysis included a parallel between the theoretical analyzes with the fishing sector of Lima Peru, the sustainability model and marketing models and based on marketing study categories, interviews were conducted with managers of commercial companies. fisheries to then develop a correlation analysis of the categories between the years 2020 and 2023.
 Results and Discussion: It was found that informality versus the established company that some distributors only have a warehouse as a warehouse while others have a complete infrastructure; others have a good diversification of products for their clients and finally, marketing is short-term and with little strategic management.
 Research Implications: The research shows that there is little access to training on administrative issues, financial management and safety issues for the conservation of the product; little investment in technology and that the lack of marketing in the sector does not make known the benefits and qualities that the product has in its consumption.
 Originality/Value: This study contributes to a literature in which it shows in an exploratory way how marketing management is developed in an economic sector of the country and how it impacts its sustainability, as well as showing a possible market strategy to enhance it.

Role of Strategic Marketing on Competitive Advantage for E-Commerce Business in India: An Empirical Study

Strategic competitive strategy equips executives with practical knowledge, new skills, and tools to translate strategic ideas into actionable plans. Within strategic research, competitive research focuses on gathering information about rival firms, a crucial approach to assess their activities and potential threats to financial strength. Despite the rapid development of electronic commerce, many e-commerce businesses are still in the investment and brand-building phase, struggling to show a profit. Strategic marketing plays a pivotal role in attaining organizational goals and objectives, aiding in the identification and implementation of new opportunities. The decisions made by management can make significant effect on the performance of e-commerce businesses in India. Strategic marketing management is a defined as a process that involves identifying company goals, creating effective strategies, and implementing them to achieve those goals. A sample of 233 respondents was collected from people working in e-commerce businesses in India. The variables that identify the role of Strategic Marketing on Competitive Advantage for E-Commerce Business in India are Innovation and Adaptability, Brand and Market Positioning, Customer Segmentation, and Competitive Pricing and Promotions.

Unleashing Synergies: Interplay between Human Resource Management, Strategic Marketing, and Corporate Financial Performance

This research explores the confluence of Human Resource Management (HRM), Strategic Marketing Management (SMM), and Corporate Financial Performance (CFP), offering a comprehensive understanding of their synergistic effects on organizational success. The study provides empirical evidence supporting the theory that a strategic blend of HRM and SMM is instrumental in enhancing financial performance. Efficient HRM practices, which improve productivity and innovation, coupled with effective SMM strategies that strengthen market positioning and revenue flows, are shown to be significant drivers of sustainable financial growth. The managerial implications of this integration are profound, underscoring the need for business leaders to consider investments in human resource development and strategic marketing as pivotal to the company's long-term success rather than as mere departmental functions. Through a quantitative analysis using SMARTPLS with a sample size of 150, the research contributes to management literature by highlighting the often-overlooked functional interconnections between HRM and SMM divisions. It challenges the conventional compartmentalization of these functions and advocates for a more integrative approach within corporate strategies. The findings indicate that companies embracing this integrated approach tend to report superior financial performance. This study addresses a gap in existing literature by demonstrating the collective impact of HRM and SMM on CFP across various industries, organization sizes, and cultural contexts, emphasizing the strategic amalgamation of these practices as a source of competitive advantage and financial enhancement.

Effects of compulsive buying on debt avoidance and self-esteem: Can brand addiction serve as a socially responsible mediator?

Background: Despite its controversial features, compulsive buying is gaining increasing attention in recent scientific marketing literature. A particular emphasis is focused on the overlap between compulsive purchasing and addiction to the brand, as well as an analysis of the combined effects of these two forms of addictive consuming on consumers. Purpose: This study aims to investigate the connection between brand addiction and compulsive buying, as well as the individual and combined effects of these constructs on self-esteem and debt avoidance. Testing differences between consumers of different genders was also carried out. Study design/methodology/approach: Data were gathered using a questionnaire in the form of a self-assessment that included demographic questions as well as questions about compulsive buying, brand addiction, avoiding debt, and self-esteem. Upon gathering online data in Bosnia and Herzegovina, partial least squares analysis was performed to analyze the data using structural equation modeling. Findings/conclusions: The study's findings show that brand addiction and compulsive buying are positively associated. Brand addiction serves as a beneficial mediator between compulsive buying and the goals of debt avoidance and self-esteem, acting as a counterbalance to the detrimental effects of compulsive buying. The study's findings indicate that there are no appreciable differences in the aforementioned correlations between men and women. This study offers empirical proof that compulsive buying and brand addiction are separate but related behaviors. These findings improved the conceptual implications of these two crucial ideas and provided brand managers and marketers with a useful tool for strategic brand management and strategic marketing management in general. Limitations/future research: Future research can develop conceptual models that are more appropriate, containing characteristics that predict addictive behavior, as well as models for marketing strategies that are sensitive to addictive consumption.

Concept and practice of marketing glamping as an eco-friendly tourism product

The article updates the application of a marketing approach in the glamping industry to maximize the use of all the opportunities that this environmental innovation provides for solving economic and social problems. The purpose of the study is to formulate the foundations of the conceptual model of glamping marketing as a type of marketing management in the service sector, combining, on the basis of the principle of complementarity, on the one side, the realization of the needs and motives (rational, emotional, mental) of clients in active leisure and on the other side, green, cultural, economic development of territories into a single synergetic process of creating socially significant products that combine the characteristics of tradition and modernity. In their study, the authors rely on the results of an analysis of the Russian glamping market and note the increased interest of consumers in the new format of the tourism product. The glamping industry can bring quick profits, but less long-term results combined with a weak social effect. The scientific novelty of the research is as follows: based on clarifying the characteristics of marketing in the glamping industry, the term “glamping marketing” was proposed and justified, which, despite its industry nature, can become the basis for the creation of other innovative products of the green industry; the relationship between green marketing, territorial marketing and glamping marketing has been identified; the elements of the service package were adapted to the glamping industry and an algorithm for its strategic marketing management was proposed, based on the logic of strategic management and technological entrepreneurship.

Niat Beli Ulang Generasi Milenial Masa Pandemi Covid-19: Peran Desain Produk, Citra Merek dan Persepsi Harga pada Produk Pakaian

This study aims to analyze the effect of product design, brand image, price perception on satisfaction and repurchase intentions for millennial generation apparel products during the Covid-19 pandemic. The research was conducted on 209 consumers using purposive sampling, data were collected through questionnaires, validity and reliability tests were carried out and data were analyzed with SEM WarpPLS. The results showed that product design, brand image and price perception have a significant positive effect on satisfaction and repurchase intentions. Satisfaction mediates the relationship between product design, brand image, price perception and repurchase intention. Product design has a stronger relationship with repurchase intentions. The results of the study can help increase the purchase of clothing products through strategic marketing management that focuses on product design, pricing strategy and brand image.

Battery Technology-Based Strategic Decisions of Electric Vehicle Firms-The Case of Tesla

Comprehensive support for the electric vehicle industry promotes the development of electrical energy, and R&D in battery technology drives the exploitation of new materials for the planet. Government-enterprise collaboration effectively improves the user experience to ameliorate global warming. This paper elaborates current development status of Tesla based on battery technology (Lithium-Ion Battery), and the latest battery technology (Lithium-Iron phosphate) R&D program. In particular, it reveals whether Tesla follows the theory of strategic market management, its specific strategic decision, sustainability impact on the market, and the trend of the electric vehicle industry.

Strategic planning process at Byju’s

Learning outcomes This case study is designed to enable students to formulate the strategic planning process in relation to an organization’s resources; assess the critical tasks required for the company’s business planning for growth and market expansion; and examine the importance of the value delivery process for the company, its customer and its employees. At the end of the case discussion, students will learn how to plan their business in an emerging market by using their existing resources, where the business stands at present and where it may go in the coming future. Case overview/synopsis The case study discusses how Byju’s, an Indian multinational educational technology company, revolutionized student learning programs through its innovative strategic implementation. It explores the company’s growth and expansion strategy by considering a strength, weakness, opportunity and threats analysis. It elaborates on how Byju’s acquired various companies in India and other countries to become an international technology-based educational brand with 150 million users in 2022. The case study also highlights the marketing and promotional strategy used by the company on online and offline platforms. The case study elaborates on the value delivery process and its importance for customer and employee satisfaction. Despite its success in the Indian market, Byju’s faced tough challenges in the US and European markets, such as lower-than-expected growth rates and lower subscription numbers, even though it followed the same strategy as in the Indian market. The acquisition and celebrity strategy works in emerging economies such as India but not in developed countries. The company’s return on investment was down owing to the high costs it had incurred over the years on market acquisitions and marketing promotions. The growing competition was also expected to bring more challenges for Byju’s. New players such as Tata Studi and YouTube planned to enter the market. Byju Raveendran and his management group had to decide whether to maintain or change the current market offering to reflect market developments to satisfy their customers and employees. They also had to determine whether the main components of the marketing strategy, such as the company’s ongoing value delivery process and ongoing strategy toward the target audience, partners and rivals, are advantageous to the firm or not. The team was in dilemma whether the marketing planning process was going in the right direction and how to make all elements of its businesses more efficient in dealing with the issues. Raveendran kept asking questions about to what extent it is still possible to alter the marketing plan. Complexity academic level The case study is appropriate for discussion in courses such as marketing management, service marketing and strategic marketing management, whether they are part of an undergraduate program (Bachelor of Business Administration [BBA]), a postgraduate program in business management (Master of Business Administration [MBA]) or an executive-level program (executive MBA). The breadth of business topics addressed and the intricacy of the scenario make this case study best suited to be used after the semester as either a culminating project or as a seminar discussion for undergraduates (BBA). The case study can also be discussed in the marketing management course (graduation level) under the marketing and service strategy chapters. Subject code CSS8: Marketing Supplementary material Teaching notes are available for educators only.

The energy industry's response to competitive intelligence in green marketing (case study of Qatar)

Competitive intelligence can be used as a catalyst to guide green marketing strategies as well as to create and maintain competitive advantage. The purpose of this article is to identify and rank the effective factors of competitive intelligence on green marketing and understand the effects of competitive intelligence components on green marketing components. This is a descriptive and applied research that was conducted on a case-by-case basis among the employees of 4 companies that are active in the field of energy industry in Qatar. The research tool is a questionnaire that confirmed the convergent and divergent validity of the two-stage structure. Analysis by PLS software showed that competitive intelligence has a positive effect on green marketing. Also, the ranking of the components was determined completely. The results of this research state that competitive intelligence as a strategic marketing management tool can modify their approaches to differentiate themselves from others and position themselves as industry leaders in sustainability. According to the study background, this research has an important contribution to the existing knowledge in terms of subject and geographical area and provides a suitable insight to the decision makers of this field.

A model of the strategic potential of an enterprise as an object of strategic marketing

Subject. The formation of enterprise’s strategic potential requires a scientific justification of its content due to the complexity of this category. At the same time, multiple approaches in determining the essence, structure of enterprise's potential, and ways of its mathematical formalization do not provide a sufficiently legitimate semantic and mathematical interpretation of the enterprise's potential model as an object of strategic marketing. Objectives. The study aims to develop a hierarchical model of enterprise’s potential, based on the definition of the object of strategic marketing in the implementation of the marketing concept of advanced development. This will form an effective strategy for enterprise development under conditions of permanent development of the market environment. Methods. The study rests on the theory of marketing and strategic management. Research methods include qualitative and functional analysis of economic categories. Results. The paper underpins the use of the category of enterprise’s strategic potential as an object of strategic marketing management. We applied a functional approach to build a hierarchical structure of strategic potential. The hierarchical model has three levels: main functional tasks (production and marketing), applied local potentials (technical, innovative, organizational, and investment), and resource potential. Conclusions. The model of enterprise’s strategic potential is essential for successful implementation of the management function of strategic marketing within the concept of marketing of advanced development, to build the strategic potential of the enterprise. Defining an interaction of local potentials of the enterprise will enable to accurately determine the object and type of managerial impact, as well as the targets of strategic development.

The ADEPT service quality model and distinct perceived value for strategic marketing management: the moderating effect of knowledge-learning experience

PurposeThe first purpose of this study is to identify the suitability of a framework that includes ADEPT (i.e. ambience, delivery, environment, product and technology) service quality constructs, distinct perceived value and customer satisfaction. The second purpose is to not only observe specified connectivity in a comprehensive and complex structural model but also reveal key mediators for better linkages. The third purpose is to detect any moderating effects of the knowledge-learning experience between ADEPT constructs and satisfaction.Design/methodology/approachThe causal relationships, mediating effects and moderating effects were analyzed using partial least squares-based structural equation modeling (PLS-SEM).FindingsBased on the ADEPT value-added framework, the higher the ADEPT service quality constructs, the more satisfied the general attendees are through the distinct mediating role of perceived value. Moreover, the influence of service delivery on satisfaction is strengthened with high-level knowledge-learning experiences.Originality/valueThe optimized fit of the ADEPT service quality constructs that are significantly linked to distinct perceived value was theoretically conceptualized and empirically identified in this work. The complex connections and degrees of significant influence throughout the entire process of the ADEPT constructs, distinct perceived value and satisfaction serve here as the basis (i.e. framework) for establishing strategic marketing management in exhibitions. Furthermore, the knowledge-learning experience acts as a key moderator to further increase satisfaction.

Evaluating the Performance of Association Rules in Apriori and FP-Growth Algorithms: Market Basket Analysis to Discover Rules of Item Combinations

This study focuses on applying data mining techniques, especially association rules mining using the Apriori and FP-GROWTH algorithms, for market basket analysis on PT. XYZ is a pharmaceutical company in Indonesia. A quantitative methodology uses a dataset of 100,498 transactions originating from 432,356 rows of data covering July to December 2022 in the JABODETABEK area. Apriori and FP-GROWTH algorithms are applied for association rules mining. The results show that FP-GROWTH has the fastest execution time of 84,655 seconds. However, the memory usage for the Apriori algorithm is the lowest at 482.32 MiB, with increments of: 0.21 MiB. For the rules generated, the two algorithms, both Apriori and FP-GROWTH, produce the same number of rules and values of support, confidence, lift, Bi-Support, Bi-Confidence, and Bi-Lift. In conclusion, Apriori is recommended for sales datasets if memory usage and ease of implementation are important. However, if the speed of execution time and a large amount of data are considered, FP-GROWTH is a better choice because the execution time is faster for large amounts of data. However, the choice of algorithm depends on the specific analysis objectives, itemset size, data scale, and computational capabilities. Results from association rules mining provide evidence of product popularity, purchasing patterns, and opportunities for strategic marketing and inventory management. These findings can help PT. XYZ improves business efficiency, understands customer behavior, and increases profitability.

Endomarketing Management and Staff Engagement of a Municipality in Peru

Purpose: To determine the relationship between endomarketing management and staff engagement in a municipality in Lima-Peru. Theoretical framework: Kotler and Amstrong (2014) argued that endomarketing consists of the application of theories, techniques, rules of strategic marketing and human resource management at all levels of the organization, seeking to continuously improve the service offered to employees or internal customers. In this sense, employees are seen as corporate partners who need to feel satisfied, so that they work motivated and committed to provide high quality products and services that meet the expectations of the consumer public. Also, Rosen (2020) stated that engagement occurs when employees feel part of the company, i.e., they have an internal incentive, a broad motivation and a sense of commitment quite genuine, it has an exponential growth, as they themselves intervene by contributing novel ideas and care to identify problematic situations. Design/methodology/approach: As stated by Agudelo et al. (2008) the variables were not manipulated, so the design was non-experimental. Likewise, Bernal (2016) argued that, when performing calculations for a research it is of quantitative approach, and if it intends to relate two or more variables it is a correlational work, Likewise, Morgan et al. (2019) argued that as it has been started from hypotheses that can be corroborated or refuted to confront events, the method was hypothetical deductive. And taking into account what was proposed by Salkind, & Bruce (2021), the cut is transversal because the collection of information has been carried out in a limited time frame. Findings: It is evident that 58.82% consider endomarketing to be good, not so far from the average level of 41.18% who observed it to be fair and there were no expressions of finding it bad; in the case of engagement, a considerable 70.59% find it good, which is quite far from the opinion of 27.06% who consider it to be acceptable and only 2.35% perceive engagement to be bad. Research, Practical & Social implications: On the other hand, in the practical argumentation, stated Salkind, & Bruce (2021), reference is made to the fact that with the results obtained corrective measures can be taken to optimize the services of the municipality, which finally leads to a social argumentation, as the users of local government services benefit. Finally, according to Hernández et al. (2014), the social justification is due to the fact that, if the appropriate corrective measures are applied, the users of local government services will benefit. Originality/value: The present work is methodologically postulated because the questionnaires have been adapted for the public sector and the concepts were discussed with an expertise and depth that may be useful in the future for those interested in delving into the conceptions of the variables.

Strategic Marketing Management: Unveiling Consumer Psychology through Qualitative Analysis and Literature Review

The purpose of this qualitative research study is to explore consumer psychology and its implications for strategic marketing management. Grounded in the grounded theory methodology, the study aims to delve into the multifaceted nature of consumer decision-making processes, the influence of emotions on brand perception, the role of social media in shaping consumer behavior, and the significance of brand identity and differentiation in the competitive marketplace. The research methodology involves a comprehensive review of existing literature related to consumer psychology and strategic marketing management, encompassing scholarly articles, books, and reports. Data analysis procedures include systematic coding, categorization, and interpretation of qualitative data extracted from the literature. The key findings of the study underscore the intricate interplay of factors influencing consumer behavior, including attitudes, emotions, social norms, and perceived behavioral control. Emotions emerge as a crucial determinant of brand perception, with positive emotional experiences fostering brand loyalty and negative emotions undermining consumer trust. Social media platforms play a pivotal role in shaping brand perceptions and purchase decisions, while brand identity serves as a strategic asset for differentiation and market positioning. The study contributes to a deeper understanding of consumer psychology and provides insights for marketers to develop targeted and effective marketing strategies that resonate with consumers' motivations and preferences.

Стратегія та механізми просування товарів у системі маркетингу агропродовольчих підприємств

The article considers the problems of forming and implementing an adaptive strategy for the promotion of goods of food enterprises to sales markets. The conceptual basis of strategic marketing management of a food enterprise is formulated. This concept is based on the following provisions: consumer desires do not always coincide with their long-term interests, as well as with the interests of society in general; consumers prefer businesses that show sincere concern for their satisfaction and the well-being of the community; the critical task of the organization is to adapt to target markets to ensure satisfaction, as well as individual and collective well-being to attract and retain customers. It was determined that the peculiarities of marketing of food enterprises are primarily determined by the fact that they use agricultural products as raw materials; interweaving of natural and economic processes; the discrepancy between the working period in agriculture and the production period; seasonality of production and consumption of products. It has been established that the fundamental basis of the marketing management process is strategic planning. Due to that, all the necessary proportions are maintained, and the coordinated direction of the functioning of all links of society's economic system is ensured. The algorithm for forming a product promotion strategy and ensuring the competitiveness of a food enterprise on the market has been developed. Approaches to improving the promotion process of goods by food enterprises to sales markets using such technologies as direct sales (direct marketing), effective advertising, sales promotion, and public relations are substantiated. The experience of the marketing services of many food enterprises is summarized with an emphasis on reviewing the function of all operating units with an attitude towards marketing as a global management function. Keywords: food industry; food marketing; strategic marketing management; product promotion; socially oriented marketing.

Penerapan Digital Marketing pada UMKM Batik Sembung di Kulonprogo

This study aims to analyze the application of digital marketing to Batik Sembung SMEs in Kulon Progo in a review of strategic marketing management. This study used a qualitative descriptive analysis method with the object under study was the UMKM Batik Sembung in Kulon Progo, Yogyakarta. The results show that Batik Sembung has used social media to inform and communicate with consumers. Social media that is often used is Facebook, Instagram, Youtube, Tiktok and Whatsaap. The platform is quite effective in informing Batik Sembung products and interacting directly with consumers. The obstacles faced by Batik Sembung in implementing digital marketing are unstable internet connections, delays in delivery, and the difficulty of educating the public to distinguish between written, stamped and printed batik through photos displayed in online sales. The application of digital marketing through social media makes it very easy for consumers to shop anywhere, anytime and is proven to be able to be used as a medium to increase sales.
 Keywords: Batik Sembung, digital marketing, social media.

STRATEGIC MARKETING MANAGEMENT: ESSENCE AND PECULIARITIES

The emergence of strategic marketing was the result of the evolution of the marketing concept. The article is devoted to the analysis of the essence and peculiarities of strategic marketing of companies in the framework of market management. The essence of the «strategic marketing» concept on the basis of scientific approaches analysis concerning its content by foreign and local authors is revealed in this paper. The existing definitions reflect different scientists' vision of its role and content in the modern organization. Most conceptual approaches used a simplified way of interpreting strategic marketing, equating it with the formation of a marketing strategy. The main differences between strategic marketing and marketing strategy were identified. An epistemological analysis of the authors' interpretations of the essence of the definition of "strategic marketing" has allowed identifying the main essential characteristics of it: long-term orientation; dynamic external and internal environment; competitive market; mutual partnership between all market participants; adaptability and flexibility to changing market conditions; marketing strategy is the basis for planning activities. The author's definition of the «strategic marketing» term takes into account: the strategic marketing and strategic management dependence; the role in competitive advantages formation; reaching marketing and financial goals of the organization. Strategic marketing consists of a set of actionable and evaluated phases that together ultimately contributes to the performance of the company: planning, implementation and evaluation phase. The article highlights the variety of methods and tools of strategic marketing management to achieve the goal of each stage successfully. The article discusses the role of strategic marketing as the dominant element responsible for the profitability of the organization.

THE ESSENCE AND EVOLUTION OF STRATEGIC BUSINESS MANAGEMENT

The article examines the theoretical foundations of strategic enterprise management, the evolution of strategic management, the essence, critical approaches, and principles of strategic enterprise management. It is noted that the term «strategy» was first used by A. Chandler in 1962 and the term «strategic management» by I. Ansoff in 1965. The evolution of strategic planning was studied. I. Ansoff identified four stages of strategic management development, in particular: Stage I – reactive (Chandlerian) adaptation, Stage II – strategic planning, Stage III – management of strategic opportunities, and Stage IV – management of problems on a real-time scale. Namely: Stage I – budgeting and control, Stage II – long-term planning, Stage III – strategic planning, and Stage IV – strategic market management. The strategies of the school were analyzed, which were analyzed in detail in the work of H. Mintzberg, B. Ahlstrand, and J. Lempel. These schools can be grouped according to the nature of research into three groups in the following group: Group I – includes three schools: design, planning, and positioning; II group – consists of six schools: entrepreneurial, cognitive (cognitive), school of education, power (force), culture and external environment; III group – includes one school: configurations. The article analyzes the existing definitions of the essence of the concept of «strategic management», which means the processes of making managerial decisions or sets of decisions; management process; action model; management of the organization based on human potential, etc. The author’s definition of strategic management has been formulated, which should be understood as the specific processes of making and implementing management decisions regarding the formation and implementation of a strategy with the targeted achievement of established goals, which are based on an objective assessment of the external and internal conditions of the enterprise’s functioning.

Resource-based view and sustainable advantage: a framework for SMEs

ABSTRACT As firms struggle to regroup their business efforts after Covid-19, significant focus turns to strategically using their resources to competitively outmanoeuvre their rivals through utilizing their human capital, social capital, and brand reputations in their performance. This research scrutinizes the relationship between the intangible resources of human resources practices, brand reputation and sustainable competitive advantage of SMEs through the lens of the RBV as a tool for strategic marketing management – an underexplored area in marketing research – using SEM model. The analysis of primary data collected from 128 SMEs operating in Lebanon reveals the existence of a positive impact of social capital on competitive advantage and shows that competent human capital has a positive impact on both competitive advantage and reputation of Lebanese SMEs. In addition, findings indicate that reputation leads to enhancing both competitive advantage and performance. Finally, the results show that the competitive advantage has a positive impact on SMEs performance during uncertain periods. These findings provide valuable insights into RBV, supporting the belief that human and social capital resources are key success factors for SMEs during uncertain periods, which can be of great significance for strategic marketing managers to help them strengthen the position of their SMEs in emerging markets during difficult times.