Argues that a deeper understanding of the current strategic marketing decision‐making processes in small businesses is necessary to raise the acceptance rates of interventions to…
Abstract
Argues that a deeper understanding of the current strategic marketing decision‐making processes in small businesses is necessary to raise the acceptance rates of interventions to improve the quality of strategic marketing decisions and consequently firm performance. Despite extensive interventionist efforts focussed primarily upon application of theory derived from large organisation studies, the small business sector continues to be plagued by high failure rates and poor performance levels. In this study, a comprehensive literature review and a series of six in‐depth interviews are used to develop a theoretical research framework for the strategic marketing decision‐making process in small business. Second, 46 strategic marketing decisions drawn from 32 small businesses are examined within the context of the research framework and, finally, a model of strategic marketing decision‐making process in small business is proposed. The core of the model is a series of three loosely defined steps or tasks (“information gathering/research”, “financial analyses and assessments” and “”internal matters”), which are conducted non‐sequentially but preceded by “decision initiation” and followed by “final commitment”. Furthermore, the key “methods” used in carrying out these steps or tasks are identified and classified into learned competencies, inherent competencies, internal networks and external networks.
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Fabio Musso, Barbara Francioni, Ilaria Curina, Fabio Tramontana, Paolo Polidori and Maria Gabriella Pediconi
The paper analyses the influence of the decision-makers' overconfidence on the intuitive practices' adoption, as well as on the international performance during international…
Abstract
Purpose
The paper analyses the influence of the decision-makers' overconfidence on the intuitive practices' adoption, as well as on the international performance during international strategic decision-making processes (SDMPs) of small- and medium-sized enterprises (SMEs). Moreover, the study investigates the possible mediating effect of intuition on the relationship between overconfidence and international performance.
Design/methodology/approach
A semi-structured questionnaire based on a sample of 160 SMEs and a regression analysis have been employed.
Findings
Results show a negative relationship between intuition and international performance and a positive one between overconfidence and international performance. Furthermore, a negative relation between overconfidence and intuition has been identified. Findings also highlight the mediating role of intuition in the relationship between overconfidence and international performance.
Practical implications
The paper provides valuable implications related to the analysis of overconfidence as a critical decision-maker's character and intuition as a feature of the decision-making methodology. Moreover, the study offers indications for SMEs facing complex strategic decisions.
Originality/value
The paper adopts an original perspective by combining the SDMP analysis with that of international strategy within the SMEs context. Additionally, the study enriches the existing literature by (1) investigating overconfidence in the decision-making; (2) enhancing the examination of overconfidence and intuitive practices in the international SDMP; (3) deepening the research field focused on the identification of the intuitive processes' predictors that is still in its infancy.
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Jane Moriarty, Rosalind Jones, Jennifer Rowley and Beata Kupiec‐Teahan
The purpose of this paper is to contribute to the understanding of marketing in small hotels specifically, and, more generally, to the area of SME or entrepreneurial marketing.
Abstract
Purpose
The purpose of this paper is to contribute to the understanding of marketing in small hotels specifically, and, more generally, to the area of SME or entrepreneurial marketing.
Design/methodology/approach
A deductive‐inductive approach based on interviews with 15 small hotel owner‐managers, supported by web site analysis and three in‐depth case study interviews, was used to provide a profile of marketing activities in small hotels in North Wales.
Findings
The application of Carson's levels of activity model to characterise and classify the marketing strategies and activities of the respondent hotels suggested that for these small hotels an additional category would be helpful in characterising marketing activities, inexpert marketing. On this basis, five of the hotels were in the non‐marketing category, eight in the inexpert category, and two in the implicit category; none were in Carson's sophisticated category. Further, any one hotel might fall into different categories on the basis of their engagement with different areas (such as marketing knowledge, or promotion).
Originality/value
These findings suggest that, whilst the search for a definition of entrepreneurial marketing is useful in articulating the difference between what SMEs do and marketing theory, there is also a need to recognise that there is a spectrum of different styles of and approaches to marketing adopted by different SME owner‐managers even within a specific sector, such that it is important not to neglect to develop models which help owner/managers, advisors, consultants and academics to understand the diversity in this sector.