Determinants of marketing innovation among SMEs in Vietnam: a resource-based and stakeholder perspective

  • Received June 22, 2020;
    Accepted December 1, 2020;
    Published December 18, 2020
  • Author(s)
  • DOI
    http://dx.doi.org/10.21511/im.16(4).2020.07
  • Article Info
    Volume 16 2020, Issue #4, pp. 74-90
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This work is licensed under a Creative Commons Attribution 4.0 International License

Innovative marketing practices are essential for firms to increase sales and profitability. This paper aims to investigate the determinants of firms’ marketing innovation based on the employment of resource-based view and stakeholder theory. A probit regression model linking marketing innovation with proxies of firms’ resources and pressures from firms’ stakeholders was tested based on a dataset of 5,857 Vietnamese enterprises taken from a survey by the Ministry of Science and Technology of Vietnam in 2016. The findings indicate that firms’ size decreases the probability of marketing innovation by 1%, while internal knowledge gained from internal R&D causes the probability of marketing innovation to increase by 0.18%. Besides, the political connection and collaborations with competitors and private consultants drive the probability that firms implement the marketing innovation up by 0.09%, 0.12%, and 0.09%, respectively. On the other hand, export-oriented firms are more likely to implement marketing innovation by 0.03%, while foreign ownership reduces the chance of this decision by 0.05%. This research also reveals the essential role of the firm’s market pressures to enter into new markets or improve product quality in encouraging marketing innovation by 0.16% and 0.13%, respectively.

Acknowledgment
This research was supported by National Economics University, Grant Number: 343-QĐ-ĐHKTQD.

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    • Table 1. Variable descriptions
    • Table 2. Determinants of innovation strategies
    • Table 3. Moderating effects of government support by the firm’s political connection
    • Table 4. The mediating role of government support by types of government support
    • Table A1. Correlation
    • Conceptualization
      To Trung Thanh , Le Thanh Ha , Doan Ngoc Thang, Tran Anh Ngoc
    • Formal Analysis
      To Trung Thanh , Le Thanh Ha
    • Methodology
      To Trung Thanh , Le Thanh Ha , Doan Ngoc Thang
    • Project administration
      To Trung Thanh , Hoang Phuong Dung
    • Software
      To Trung Thanh , Le Thanh Ha , Tran Anh Ngoc
    • Supervision
      To Trung Thanh , Le Thanh Ha , Doan Ngoc Thang, Tran Anh Ngoc
    • Writing – review & editing
      To Trung Thanh , Hoang Phuong Dung, Doan Ngoc Thang, Tran Anh Ngoc
    • Data curation
      Le Thanh Ha , Doan Ngoc Thang
    • Funding acquisition
      Le Thanh Ha
    • Investigation
      Le Thanh Ha , Hoang Phuong Dung
    • Resources
      Le Thanh Ha
    • Validation
      Le Thanh Ha
    • Visualization
      Le Thanh Ha
    • Writing – original draft
      Le Thanh Ha , Hoang Phuong Dung, Tran Anh Ngoc