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Marketing resources: the empirical evidences from transitional economy
Milfelner, Borut ; Snoj, Boris ; Gabrijan, Vladimir
Using the background of resource based theory the study investigates the relationships between certain marketing resources such as market orientation, innovation resources, reputational resources, ...customer related capabilities, and distribution based assets, as well as their impact on market and financial performance. The study was implemented on the population of companiesin Slovenia with more than 20 employees. The results revealed that companies' market orientation was a significant and positive predictor of innovation resources, reputational resources, and customer related capabilities. Market orientation was indirectly related to a company's market and financial performance through other measured marketing resources. Customer related capabilities and innovation resources were significantly positively related to customer loyalty. However the path between customer related capabilities and market share and sales volume was non-significant. Distribution based assets were weakly related to loyalty and market share and sales volume Innovation resources, and reputational resources had positive impact on market share and sales volume. Loyalty proved to be significant predictor of market share and sales volume. Customer loyalty, market share and sales volume had positive impact on financial performance. However, the relationship between customer loyalty and financial performance was much weaker. Market share and sales volume construct mediated customer loyalty impact on financial performance. General findings indicate that selected marketing resources impact financial performance indirectly through the creation of customer loyalty and directly through market share and sales volume.
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