Examining relationship marketing and strategic branding in b2b Greek SMEs: A family business development
-
DOIhttp://dx.doi.org/10.21511/im.18(3).2022.10
-
Article InfoVolume 18 2022, Issue #3, pp. 110-120
- Cited by
- 685 Views
-
171 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
Α survey of relationship marketing, branding, and the family business life cycle is conducted to determine the extent to which these variables ensure their path to the next generation. The study examines whether interpersonal relationships apply to family SME businesses and how they adopt relationship marketing as their main strategy. The study provides an insightful benchmarking approach between family businesses in early stage (1st and 2nd generation) and well-established (3rd and 4th generation) companies. In addition, the adopted branding process is examined. A qualitative method was chosen for the interviews with five B2B Greek family companies in the trading sector. Family businesses are Greek, have a known brand name, and family members are involved in the decision-making process. All participants agree that personal or friendly relationships of the owner-founder with customers, suppliers, and staff are crucial at the launch of businesses, and growth is a synonym for business survival. Data analysis revealed that relationship marketing is not related to the stages of development, as different perceptions were observed among participants of well-established and companies in the early stage. The results also show a significant relationship between different stages of family business’s development and branding strategies, documenting that owners of well-established family businesses focus on organizational structure and culture. In contrast, owners of family businesses in the early stage rely on personal relationships. Branding strategy seems to be the appropriate approach for a family-owned business to survive in the marketplace and have succeed pass on to the next generations.
- Keywords
-
JEL Classification (Paper profile tab)M19, M31
-
References24
-
Tables1
-
Figures3
-
- Figure 1. Relationship marketing to family businesses
- Figure 2. Brand from the family company point of view
- Figure 3. Is family business nature a condition of progress?
-
- Table 1. Sample characteristics
-
- Ashley-Cotleur, C., Kauanui, S. K., & Gaumer, C. J. (2013). Family business succession: The impact of customer relationship management and customer based brand equity on firm success or failure. Journal of Business Diversity, 13(1/2), 108-118.
- Beck, S. (2016). Brand management research in family firms: A structured review and suggestions for further research. Journal of Family Business Management, 6(3), 225-250.
- Binz Astrachan, C., & Botero, I.C. (2018). “We are a family firm”: An exploration of the motives for communicating the family business brand. Journal of Family Business Management, 8(1), 2-21.
- Cooper, J. M., Upton, N., & Seaman, S. (2005). Customer relationship management: A comparative analysis of family and non family business practices. Journal of Small Business Management, 43(3), 242-256.
- Creswell, J. W. (2007). Qualitative inquiry and research design: Choosing among five approaches (2nd ed.). Sage.
- Duh, M., Tominc, P., & Rebernik, M. (2009). Growth ambitions and succession solutions in family business. Journal of Small Business and Enterprise Development, 16(2), 256-269.
- Efferin, S., & Hartono, M. (2015). Management control and leadership styles in family business an Indonesian case study. Journal of Accounting & Organizational Change, 11(1), 130-159.
- Jin, B., Yong Park, J., & Kim, J. (2008). Cross-cultural examination of the relationships among firm reputation, e-satisfaction, e-trust, and e-loyalty. International Marketing Review, 25(3), 324337.
- Jones, R. (2010). Corporate branding: The role of vision in implementing the corporate brand. Innovative Marketing, 6(1), 44-57.
- Hankinson, G. (2012). The measurement of brand orientation, its performance impact, and the role of leadership in the context of destination branding: An exploratory study. Journal of Marketing Management, 28(7-8), 974-999.
- Kwon, J.-H., Jung, S.-H., Choi, H.-J., & Kim, J. (2021). Antecedent factors that affect restaurant brand trust and brand loyalty: Focusing on US and Korean consumers. Journal of Product & Brand Management, 30(7), 990-1015.
- Neubauer, H. (2003). The dynamics of succession in family businesses in western European countries. Family Business Review, 16(4), 269-281.
- Motwani, J., Levenburg, N. M., Schwarz, T. V., & Blankson, C. (2006). Succession planning in SMEs: An empirical analysis. International Small Business Journal, 24(5), 471-495.
- Parmentier, M. A. (2011). When David met Victoria: Forging a strong family brand. Family Business Review, 24(3), 217-232.
- Pérez-Cabañero, C., González-Cruz, T., & Cruz-Ros, S. (2012). Do family SME managers value marketing capabilities’ contribution to firm performance? Marketing Intelligence & Planning, 30(2), 116-142.
- Pimentel, D., Almeida, P., Marques-Quinteiro, P., & Sousa, M. (2021). Employer branding and psychological contract in family and non-family firms. Management Research, 19(3-4), 213-230.
- Samanta, I. (2009). The impact of e-customer relationship marketing in hotel industry. International Journal of Knowledge and Learning, 5(3/4), 333-346.
- Samanta, I. (2012). Exploring the factors of customer retention in mobile sector. International Journal of Strategic Information Technology and Applications (IJSITA), 3(2), 36-46.
- Senftlechner, D., & Hiebl, M. (2015). Management accounting and management control in family business. Journal of Accounting & Organizational Change, 11(4), 573-606.
- Shen, A., & Tikoo, S. (2021). Family business identity, consumer product evaluations and firm size. Journal of Product & Brand Management, 30(7), 937-948.
- Smith, M. (2007). “Real” managerial differences between family and non family firms. International Journal of Entrepreneurial Behavior & Research, 13(5), 278-295.
- Sreejesh, S., Sarkar, J. G., Sarkar, A., Eshghi, A., & Anusree, M. R. (2018). The impact of other customer perception on consumer-brand relationships. Journal of Service Theory and Practice, 28(2), 130-146.
- Terzidis, K., & Samanta, I. (2011). Marketing practices of small family business in Greece. Journal of Marketing and Operations Management Research, 1(1), 35-45.
- Tokarczyk, J., Hansen, E., Green, M., & Down, J. (2007). A resource based view and market orientation theory examination of the role of families in family business success. Family Business Review, 20(1), 17-31.