Transformations  in
Business & Economics

MARKETING INNOVATION: THE ROLE OF INTERNAL AND EXTERNAL FACTORS FROM A RESOURCE-BASED VIEW AND INSTITUTIONAL THEORY PERSPECTIVE⁴
Mehmet Civelek, Aleksandr Kljucnikov, Ludovit Hajduk, Roman Hlawiczka, Lukas Durda

ABSTRACT: Marketing innovation (MINNO) activities are vital for businesses’ sustainability and their long-term presence. However, depending on some external and internal factors their MINNO operations can change and this fact can cause firm failures. These factors, namely, innovation orientation (INOR) and family financial capital (FAFICA) are internal factors included in the Resource-based View (RBV), while other factors such as political (POLS), economic (ECOS), and legal (LEGAS) conditions are explained in Institutional Theory. In this context, this paper analyzes the impacts of INOR, FAFICA, POLS, ECOS, and LEGS on MINNO of 1367 businesses. This research applies a purposive sampling method and creates an internet-mediated questionnaire to collect research data. Moreover, Ordinal Logistic Regression Test is used for data analyses. According to the results, this paper only finds a significant result in the impact INOR on MINNO while it does not confirm the significant effect of other factors included in Institutional Theory and RBV, namely FAFICA. Firm size, sector, resource allocation, R&D budgets, and the quality of the legal environment of countries might be the reasons for these results.

KEYWORDS:  marketing innovation, finance, Institution-based View, Resource-based View, European enterprises.

JEL classification:  E44, G32, L10, M31, O31, O32.

⁴Acknowledgments:  This work was supported by the EU through the Recovery and Resilience Plan for Slovakia under project 09I03-03-V04.