Entrepreneurial Marketing Strategies and Business Innovation: A Study of Market Orientation and Opportunity Recognition in Emerging Economies
DOI:
https://doi.org/10.69980/xxv3et76Keywords:
Entrepreneurial marketing, Market orientation, Opportunity recognition, Business innovation, Emerging economiesAbstract
Entrepreneurial firms operating in emerging economies increasingly rely on adaptive marketing strategies to navigate market uncertainty and resource constraints. This study examines the influence of entrepreneurial marketing strategies on business innovation, with a specific focus on the roles of market orientation and opportunity recognition. Drawing on established entrepreneurship and marketing theories, the study adopts a quantitative research design using secondary data derived from the Entrepreneurship Decision Dataset and the Federated Startup and Entrepreneurship Dataset. Relevant variables from both sources were integrated to construct a combined dataset comprising 25 entrepreneurial firms operating in emerging market contexts. Market orientation was operationalized through indicators capturing competitive awareness and market responsiveness, while opportunity recognition was measured using growth and investment-related indicators. Business innovation was assessed through innovation level and business model strength. The empirical analysis employed descriptive statistics, correlation analysis, and regression-based techniques to test the proposed relationships. The findings reveal that market orientation has a significant positive effect on business innovation and opportunity recognition. Furthermore, opportunity recognition were found to positively influence innovation outcomes and to mediate the relationship between market orientation and business innovation. These results underscore the process-oriented nature of entrepreneurial marketing, demonstrating that market-driven strategies enhance innovation primarily when firms are able to recognize and exploit emerging opportunities. The study contributes to the entrepreneurial marketing literature by empirically integrating market orientation and opportunity recognition within a unified framework, offering valuable insights for entrepreneurs and policymakers seeking to foster innovation-driven growth in emerging economies.
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