An analysis of the presence and effectiveness of entrepreneurial marketing in SMEs operating within the premium alcoholic drinks industry

Juliette Wilson, Alexander Martin

Research output: Chapter in Book/Report/Conference proceedingConference contribution book

Abstract

This paper examines the presence and effectiveness of Entrepreneurial Marketing (EM) in SMEs operating in the premium alcoholic drinks industry. Recent years have seen significant numbers of SMEs emerge within the premium alcoholic drinks market. This paper examines the extent to which they utilise EM strategies, evaluating the effect such strategies have on firm performance and assessing the influence the owner/entrepreneur of these firms has on the development and execution of EM strategies. This research responds to calls within the literature for a wider examination of industries in which EM is being utilised (Collinson & Shaw, 2001; Morris et al., 2002; Kraus et al., 2006; Morrish & Deacon, 2011; Thomas et al., 2013). There is now a growing acceptance that although SMEs may not utilise traditional marketing theories and practices, marketing is integral to their survival. These firms are constrained by a number of factors, but principally they are limited by a lack of resources, consequently, SMEs actively pursue non-conventional approaches to marketing (Gilmore et al., 2001; Jones & Rowley, 2011). A qualitative research process was undertaken with individual in-depth interviews with owner/entrepreneurs of five SMEs. The findings detail five core strategies used by sampled firms to enhance performance outcomes building on the Morris et al. (2002) framework, namely: Proactive Opportunity Creation; Resource Leveraging; Legitimacy; Customer Intensity and Innovative Value Creation. These strategic EM competencies were found to have a considerable effect on SME firm performance, increasing organisational ability to differentiate, counteract resource constraints, build brand awareness or overcome initial market challenges. The study also highlighted the important role of the owner/entrepreneur in the development and execution of effective EM strategy. The principal practical implication, which emerges from this exploratory research is the identification of five emergent EM strategies. These strategies were critical in enhancing performance outcomes of these SMEs leading to increased differentiation, increased market acceptance, increased brand awareness and heightened levels of credibility. Such outcomes are imperative in counteracting the resource constraints faced by SMEs in this industry. This research also recommends the development of community based groups to protect the interests of SMEs operating within MNE dominated industries, enabling them to better counteract the resource constraints which limit them. This exploratory study contributes to the EM theory in two fundamental ways. Firstly, by identifying five core strategies, which enhance performance outcomes within SMEs in the premium alcoholic drinks industry. Additionally, this work provides newly established firms with significant insight into the use of EM strategy and the effect which it can have on SME firm performance. By utilising these competencies simultaneously new firms can achieve enhance performance outcomes within a market in constant flux.
LanguageEnglish
Title of host publicationInstitute for Small Business and Entrepreneurship
Subtitle of host publication2014 Manchester Conference
Publication statusPublished - 2014
EventISBE 2014 - The Future of Enterprise: The Innovation Revolution - Manchester, United Kingdom
Duration: 5 Nov 20146 Nov 2014

Conference

ConferenceISBE 2014 - The Future of Enterprise: The Innovation Revolution
CountryUnited Kingdom
CityManchester
Period5/11/146/11/14

Fingerprint

Entrepreneurial marketing
Small and medium-sized enterprises
Alcoholic drinks
Industry
Premium
Marketing strategy
Owners
Entrepreneurs
Firm performance
Resource constraints
Resources
Brand awareness
Competency
Acceptance
Marketing
Marketing theory
Community-based
Value creation
Legitimacy
Qualitative research

Keywords

  • SMEs
  • qualitative case study
  • drinks industry
  • entrepreneurial marketing

Cite this

Wilson, J., & Martin, A. (2014). An analysis of the presence and effectiveness of entrepreneurial marketing in SMEs operating within the premium alcoholic drinks industry. In Institute for Small Business and Entrepreneurship: 2014 Manchester Conference
Wilson, Juliette ; Martin, Alexander. / An analysis of the presence and effectiveness of entrepreneurial marketing in SMEs operating within the premium alcoholic drinks industry. Institute for Small Business and Entrepreneurship: 2014 Manchester Conference. 2014.
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Wilson, J & Martin, A 2014, An analysis of the presence and effectiveness of entrepreneurial marketing in SMEs operating within the premium alcoholic drinks industry. in Institute for Small Business and Entrepreneurship: 2014 Manchester Conference. ISBE 2014 - The Future of Enterprise: The Innovation Revolution, Manchester, United Kingdom, 5/11/14.

An analysis of the presence and effectiveness of entrepreneurial marketing in SMEs operating within the premium alcoholic drinks industry. / Wilson, Juliette; Martin, Alexander.

Institute for Small Business and Entrepreneurship: 2014 Manchester Conference. 2014.

Research output: Chapter in Book/Report/Conference proceedingConference contribution book

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Wilson J, Martin A. An analysis of the presence and effectiveness of entrepreneurial marketing in SMEs operating within the premium alcoholic drinks industry. In Institute for Small Business and Entrepreneurship: 2014 Manchester Conference. 2014