Transformations  in
Business & Economics

Innovation within the Strategic Marketing Management of Industrial SMEs as a Response to the Economic Crisis
Laurentiu-Dan Anghel, Mihaela Constantinescu, Stefan Claudiu Caescu

ABSTRACT. Considering the significant impact of the economic crisis at the microeconomic level, a basic national statistical analysis is not sufficient; therefore it is also necessary to carry out a research among the enterprises from each sector of activity to identify the particularities that the crisis brought upon the marketing management process. Therefore, we carried out a qualitative research on the basis of the industrial small and midsized enterprises (SMEs) in the Romanian market. The study was conducted to evaluate the impact of the economic crisis upon the strategic marketing management of industrial SMEs. A reorientation from business development objectives towards maintaining and consolidating the ones appropriate to the current competitive environment; the shift of customers' focus from quality and technology to price, which is further translated into companies' market strategy and the adaptation of the marketing mix to the current competitive environment are the most important drown conclusions.

KEYWORDS: innovation, strategic marketing management, industrial SMEs, economic crises, qualitative research.

JEL classification: M31, M21, L21.