Share:


The impact of market orientation on marketing performance: exploring the moderating role of competitive advantage

Abstract

This research analyses the influence of market orientation and competitive advantage on MSMEs’ marketing performance, with competitive advantage as a moderating variable. The research methodology employs path analysis using Smart PLS software version 4.0 and involves 397 MSME owners in Jambi City, Jambi Province, Indonesia. The analysis results indicate that market orientation and competitive advantage significantly influence MSME marketing performance. Additionally, competitive advantage moderates, strengthening the relationship between market orientation and marketing performance. These findings have practical implications for MSME owners, suggesting that focusing on developing market orientation and competitive advantage can enhance their marketing performance. Furthermore, this study contributes to the theoretical understanding of factors influencing MSMEs marketing performance and encourages further research on elements that most impact competitive advantage. It also provides recommendations for policymakers to support enhancing MSME marketing performance through various supportive policies. However, this research has limitations, such as the lack of specific elements of market orientation with significant impacts and a need to better understand the moderation mechanism between market orientation and marketing performance through competitive advantage, which could be subjects of future research.

Keyword : market orientation, competitive advantage, marketing performance, MSMEs

How to Cite
Dahmiri, D., Junaidi, J., Johannes, J., Yacob, S., & Indrawijaya, S. (2024). The impact of market orientation on marketing performance: exploring the moderating role of competitive advantage. Business: Theory and Practice, 25(1), 164–174. https://doi.org/10.3846/btp.2024.20174
Published in Issue
Mar 18, 2024
Abstract Views
709
PDF Downloads
480
Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

References

Abdullah, Y., & Rosliyati, A. (2020). The product market strategy, value creation, and competitive advantages a determinant factor of marketing performance. International Journal of Supply Chain Management, 9(3), 13–17.

Achmad, W. (2023). MSMEs empowerment through digital innovation: The key to success of e-commerce in Indonesia. Daengku: Journal of Humanities and Social Sciences Innovation, 3(3), 469–475. https://doi.org/10.35877/454RI.daengku1742

Acikdilli, G., Mintu-Wimsatt, A., Kara, A., & Spillan, J. E. (2022). Export market orientation, marketing capabilities and export performance of SMEs in an emerging market: A resource-based approach. Journal of Marketing Theory and Practice, 30(4), 526–541. https://doi.org/10.1080/10696679.2020.1809461

Agarwal, S., Krishna Erramilli, M., & Dev, C. S. (2003). Market orientation and performance in service firms: Role of innovation. Journal of Services Marketing, 17(1), 68–82. https://doi.org/10.1108/08876040310461282

Akpan, I. J., Udoh, E. A. P., & Adebisi, B. (2022). Small business awareness, adoption of state-of-the-art technologies in emerging and developing markets, and lessons from the COVID-19 pandemic. Journal of Small Business & Entrepreneurship, 34(2), 123–140. https://doi.org/10.1080/08276331.2020.1820185

Al-Murad, N. Y. M. (2022). Apply green marketing strategies to improve market performance by competitive advantage as mediating: An analytical study of some small organisations in Iraq. Webology, 19(1), 1266–1281. https://doi.org/10.14704/WEB/V19I1/WEB19085

Aljumah, A. I., Nuseir, M. T., & El Refae, G. A. (2022). Business analytics and competitive advantage for SMEs in UAE: A mediating role of technology assets. In 2022 International Arab Conference on Information Technology (ACIT) (pp. 1–9). IEEE Xplore. https://doi.org/10.1109/ACIT57182.2022.9994149

Armstrong, G., & Kotler, P. T. (2018). Principles of marketing. Pearson International.

Association of Southeast Asian Nations. (2023). Development of micro, small, and medium enterprises in ASEAN (MSME). https://asean.org/our-communities/economic-community/resilient-and-inclusive-asean/development-of-micro-small-and-medium-enterprises-in-asean-msme/

Barney, J. B., & Hesterly, W. S. (2010). Strategic management and competitive advantage: Concepts (Vol. 408). Prentice Hall.

Carbone, F., Moroni, S., Mattioli, W., Mazzocchi, F., Romagnoli, M., & Portoghesi, L. (2020). Competitiveness and competitive advantages of chestnut timber laminated products. Annals of Forest Science, 77(2), Article 51. https://doi.org/10.1007/s13595-020-00950-4

Chabowski, B. R., & Mena, J. A. (2017). A review of global competitiveness research: Past advances and future directions. Journal of International Marketing, 25(4), 1–24. https://doi.org/10.1509/jim.16.0053

Chin, C. H., Lo, M. C., & Ramayah, T. (2013). Market orientation and organisational performance: The moderating role of service quality. Sage Open, 3(4). https://doi.org/10.1177/2158244013512664

Chong, D., & Ali, H. (2022). Literature review: Competitive strategy, competitive advantages, and marketing performance on e-commerce Shopee Indonesia. Dinasti International Journal of Digital Business Management, 3(2), 299–309. https://doi.org/10.31933/dijdbm.v3i2

Clark, B. H., & Montgomery, D. B. (1999). Managerial identification of competitors. Journal of Marketing, 63(3), 67–83. https://doi.org/10.1177/002224299906300305

Correia, R. J., Dias, J. G., & Teixeira, M. S. (2020). Dynamic capabilities and competitive advantages are mediator variables between market orientation and business performance. Journal of Strategy and Management, 14(2), 187–206. https://doi.org/10.1108/JSMA-12-2019-0223

Creswell, J. W., & Creswell, J. D. (2017). Research design: Qualitative, quantitative, and mixed methods approaches. Sage Publications.

Dabrowski, D., Brzozowska-Woś, M., Gołąb-Andrzejak, E., & Firgolska, A. (2019). Market orientation and hotel performance: The mediating effect of creative marketing programs. Journal of Hospitality and Tourism Management, 41, 175–183. https://doi.org/10.1016/j.jhtm.2019.10.006

Davcik, N. S., & Sharma, P. (2016). Marketing resources, performance, and competitive advantage: A review and future research directions. Journal of Business Research, 69(12), 5547–5552. https://doi.org/10.1016/j.jbusres.2016.04.169

Day, G. S. (1994). The capabilities of market-driven organisations. Journal of Marketing, 58(4), 37–52. https://doi.org/10.2307/1251915

Dobni, C. B., & Luffman, G. (2003). Determining the scope and impact of market orientation profiles on strategy implementation and performance. Strategic Management Journal, 24(6), 577–585. https://doi.org/10.1002/smj.322

Drucker, P. F. (1954). The practice of management. Harper Business.

Efrata, T. C., Radianto, W. E. D., Budiono, S. C., & Marlina, E. E. (2019). The impact of innovation, competitive advantage, and market orientation on a firm’s marketing performance in the garment industry in Indonesia. In Proceedings of the 2019 International Conference on Organizational Innovation (ICOI 2019). Atlantis Press. https://doi.org/10.2991/icoi-19.2019.68

El Chaarani, H., Vrontis, P. D., El Nemar, S., & El Abiad, Z. (2022). The impact of strategic competitive innovation on the financial performance of SMEs during the COVID-19 pandemic period. Competitiveness Review: An International Business Journal, 32(3), 282–301. https://doi.org/10.1108/CR-02-2021-0024

Elgarhy, S. D., & Abou-Shouk, M. (2023). Effects of entrepreneurial orientation, marketing, and innovation capabilities, on market performance: The mediating effect of sustainable competitive advantage. International Journal of Contemporary Hospitality Management, 35(6), 1986–2004. https://doi.org/10.1108/IJCHM-04-2022-0508

Fatikha, C., Rahayu, M., & Sumiati, S. (2021). Effect of entrepreneurship orientation and market orientation on marketing performance through competitive advantage. Jurnal Aplikasi Manajemen, 19(2), 448–458. https://doi.org/10.21776/ub.jam.2021.019.02.20

Fatonah, S., & Haryanto, A. T. (2022). Exploring market orientation, product innovation and competitive advantage to enhance the performance of SMEs under uncertain events. Uncertain Supply Chain Management, 10(1), 161–168. https://doi.org/10.5267/j.uscm.2021.9.011

Fernandes, C. I., Ferreira, J. J., Lobo, C. A., & Raposo, M. (2020). The impact of market orientation on the internationalisation of SMEs. Review of International Business and Strategy, 30(1), 123–143. https://doi.org/10.1108/RIBS-09-2019-0120

Frösén, J., Luoma, J., Jaakkola, M., Tikkanen, H., & Aspara, J. (2016). What counts versus what can be counted: The complex interplay of market orientation and marketing performance measurement. Journal of Marketing, 80(3), 60–78. https://doi.org/10.1509/jm.15.0153

Gligor, D., Gligor, N., & Maloni, M. (2019). The supplier’s market orientation impacts the customer market orientation-performance relationship. International Journal of Production Economics, 216, 81–93. https://doi.org/10.1016/j.ijpe.2019.04.022

Habib, M. A., Bao, Y., & Ilmudeen, A. (2020). The impact of green entrepreneurial orientation, market orientation and supply chain management practices on sustainable firm performance. Cogent Business and Management, 7(1), Article 1743616. https://doi.org/10.1080/23311975.2020.1743616

Handayani, R., & Handoyo, R. D. (2020). With innovation, is the prospect performance of large-medium enterprises expected to be better? Journal of Economics, Business, & Accountancy Ventura, 22(3), 411–423. https://doi.org/10.14414/jebav.v22i3.2041

Hang, Y., Sarfraz, M., Khalid, R., Ozturk, I., & Tariq, J. (2022). Does corporate social responsibility and green product innovation boost organisational performance? A moderated mediation model of competitive advantage and green trust. Economic Research-Ekonomska Istraživanja, 35(1), 5379–5399. https://doi.org/10.1080/1331677X.2022.2026243

Harjadi, D., Fatmasari, D., & Nurhasanah, A. S. (2020). Market orientation and product innovation to increase competitive advantages and its impact on marketing performance. Al-Amwal: Jurnal Ekonomi Dan Perbankan Syari’ah, 12(1), 12–21. https://doi.org/10.24235/amwal.v1i1.5457

Haseeb, M., Hussain, H. I., Kot, S., Androniceanu, A., & Jermsittiparsert, K. (2019). Role of social and technological challenges in achieving a sustainable competitive advantage and sustainable business performance. Sustainability, 11(14), Article 3811. https://doi.org/10.3390/su11143811

Hayek, F. A. (1980). Individualism and economic order. University of Chicago Press.

Hoffman, D. L., & Novak, T. P. (1996). Marketing in hypermedia computer-mediated environments: Conceptual foundations. Journal of Marketing, 60(3), 50–68. https://doi.org/10.1177/002224299606000304

Hooley, G. J., Greenley, G. E., Cadogan, J. W., & Fahy, J. (2005). The performance impact of marketing resources. Journal of Business Research, 58(1), 18–27. https://doi.org/10.1016/S0148-2963(03)00109-7

Johnson, W. C., & Sirikit, A. (2002). Service quality in the Thai telecommunication industry: A tool for achieving a sustainable competitive advantage. Management Decision, 40(7), 693–701. https://doi.org/10.1108/00251740210438526

Julian, C. C., & O’Cass, A. (2002). Examining the internal-external determinants of International Joint Venture (IJV) marketing performance in Thailand. Australasian Marketing Journal, 10(2), 55–71. https://doi.org/10.1016/S1441-3582(02)70150-X

Kaleka, A., & Morgan, N. A. (2017). Which competitive advantage(s)? Competitive advantage-market performance relationships in international markets. Journal of International Marketing, 25(4), 25–49. https://doi.org/10.1509/jim.16.0058

Karnowati, N., & Handayani, E. (2022). Mediation role of business performance on entrepreneurship orientation and market orientation to create MSME competitiveness in pandemic times. International Journal of Research in Business and Social Science (2147–4478), 11(6), 138–147. https://doi.org/10.20525/ijrbs.v11i6.1980

Katadata Media Network. (2023). Indonesia Punya UMKM Terbanyak di ASEAN, Bagaimana Daya Saingnya? https://databoks.katadata.co.id/datapublish/2022/10/11/indonesia-punya-umkm-terbanyak-di-asean-bagaimana-daya-saingnya

Katsikeas, C. S. (1994). Export competitive advantages. International Marketing Review, 11(3), 33–53. https://doi.org/10.1108/02651339410067049

Keskin, H., Ayar Şentürk, H., Tatoglu, E., Gölgeci, I., Kalaycioglu, O., & Etlioglu, H. T. (2021). The simultaneous effect of firm capabilities and competitive strategies on export performance: The role of competitive advantages and intensity. International Marketing Review, 38(6), 1242–1266. https://doi.org/10.1108/IMR-09-2019-0227

Kiyabo, K., & Isaga, N. (2020). Entrepreneurial orientation, competitive advantage, and SMEs’ performance: Application of firm growth and personal wealth measures. Journal of Innovation and Entrepreneurship, 9, 1–15. https://doi.org/10.1186/s13731-020-00123-7

Kotler, P., Kartajaya, H., & Setiawan, I. (2021). Marketing 5.0: Technology for humanity. John Wiley & Sons.

Kumar, V., Jones, E., Venkatesan, R., & Leone, R. P. (2011). Is market orientation a sustainable competitive advantage or simply the cost of competing? Journal of Marketing, 75(1), 16–30. https://doi.org/10.1509/jm.75.1.16

Länsiluoto, A., Joensuu‐Salo, S., Varamäki, E., Viljamaa, A., & Sorama, K. (2020). Market orientation and performance measurement system adoption impact on performance in SMEs. Journal of Small Business Management, 57(3), 1027–1043. https://doi.org/10.1111/jsbm.12393

Lee, K., & Yoo, J. (2019). How does open innovation lead to competitive advantage? A dynamic capability view perspective. PloS One, 14(11), Article 223405. https://doi.org/10.1371/journal.pone.0223405

Leonidou, L. C., Fotiadis, T. A., Christodoulides, P., Spyropoulou, S., & Katsikeas, C. S. (2015). Environmentally friendly export business strategy: Its determinants and effects on competitive advantage and performance. International Business Review, 24(5), 798–811. https://doi.org/10.1016/j.ibusrev.2015.02.001

Lestari, R., Pradani, T., & Digdowiseiso, K. (2022). The effects of digital marketing, entrepreneurship orientation, and product innovation on competitive advantage and its impact on the marketing performance of Talas Bolu Sangkuriang in Bogor City. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 5(1), 2081–2087.

Levitt, T. (1984). Marketing myopia. Journal of Library Administration, 4(4), 59–80. https://doi.org/10.1300/J111V04N04_07

Limakrisna, N., & Yoserizal, S. (2016). Determinants of marketing performance: An empirical study at National Commercial Bank in Jakarta Indonesia. SpringerPlus, 5(1), Article 1693. https://doi.org/10.1186/s40064-016-3362-3

Lings, I. N., & Greenley, G. E. (2009). The impact of internal and external market orientations on firm performance. Journal of Strategic Marketing, 17(1), 41–53. https://doi.org/10.1080/09652540802619251

Ma, H. (2020). Competitive advantage and firm performance. Competitiveness Review: An International Business Journal, 10(2), 15–32. https://doi.org/10.1108/eb046396

Martin, S. L., & Javalgi, R. R. G. (2016). Entrepreneurial orientation, marketing capabilities and performance: The moderating role of competitive intensity on Latin American international new ventures. Journal of Business Research, 69(6), 2040–2051. https://doi.org/10.1016/j.jbusres.2015.10.149

Martinette, L. A., & Obenchain-Leeson, A. (2012). The relationship between learning orientation and business performance and the moderating effect of competitive advantage: A service organisation perspective. Journal of Service Science (JSS), 5(1), 43–58. https://doi.org/10.19030/jss.v5i1.6940

Martinette, L., Obenchain-Leeson, A., Gomez, G., & Webb, J. (2014). Relationship between learning orientation and business performance and the moderating effect of competitive advantage: An accounting services firms perspective. International Business & Economics Research Journal (IBER), 13(4), 779–792. https://doi.org/10.19030/iber.v13i4.8686

Mazaira, A., González, E., & Avendaño, R. (2003). The role of market orientation on company performance through the development of sustainable competitive advantage: The Inditex-Zara case. Marketing Intelligence & Planning, 21(4), 220–229. https://doi.org/10.1108/02634500310480103

McKenna, R. (1991). Marketing is everything. Harvard Business Review, 69(1), 65–79.

Merlo, O., & Auh, S. (2009). The effects of entrepreneurial orientation, market orientation, and marketing subunit influence on firm performance. Marketing Letters, 20, 295–311. https://doi.org/10.1007/s11002-009-9072-7

Mian, T. S., & Ghabban, F. (2022). Competitive advantage: A study of Saudi SMEs to adopt data mining for effective decision making. Journal of Data Analysis and Information Processing, 10(3), 155–169. https://doi.org/10.4236/jdaip.2022.103010

Ministry of Cooperatives and SMEs of the Republic of Indonesia. (2023). KemenKopUKM Gandeng BPS Lakukan Pendataan Lengkap Koperasi dan UMKM 2023. https://www.bps.go.id/id/news/2023/09/15/533/kemenkopukm-gandeng-bps-lakukan-pendataan-lengkap-koperasi-dan-umkm-2023.html

Mohammadian, M., Allahverdi, M., & Salimi, A. (2013). The impact of export market orientation and competitive advantage on export performance (case study: The study of exemplary exporters of Iran Selected in 2012). Journal of Business Management, 5(4), 61–78.

Murray, J. Y., Gao, G. Y., & Kotabe, M. (2011). Market orientation and performance of export ventures: The process through marketing capabilities and competitive advantages. Journal of the Academy of Marketing Science, 39, 252–269. https://doi.org/10.1007/s11747-010-0195-4

Na, Y. K., Kang, S., & Jeong, H. Y. (2019). The effect of market orientation on performance of sharing economy business: Focusing on marketing innovation and sustainable competitive advantage. Sustainability, 11(3), Article 729. https://doi.org/10.3390/su11030729

Najafi-Tavani, S., Sharifi, H., & Najafi-Tavani, Z. (2016). Market orientation, marketing capability, and new product performance: The moderating role of absorptive capacity. Journal of Business Research, 69(11), 5059–5064. https://doi.org/10.1016/j.jbusres.2016.04.080

Nerver, J. C., & Slater, S. F. (1990). The effect of a market orientation on business profitability. Journal of Marketing, 54(4), 20–35. https://doi.org/10.2307/1251757

Nursal, M. F., Rianto, M. R., & Bukhari, E. (2022). The influence of market orientation, entrepreneurial orientation, knowledge management and learning organization on performance mediated by innovation in culinary SME’s in Bekasi. East Asian Journal of Multidisciplinary Research, 1(8), 1691–1702. https://doi.org/10.55927/eajmr.v1i8.1266

Nuryakin, N., & Maryati, T. (2022). Do green innovation and green competitive advantage mediate the effect of green marketing orientation on SMEs’ green marketing performance? Cogent Business and Management, 9(1). https://doi.org/10.1080/23311975.2022.2065948

Pardi, S., Suyadi, I., & Arifin, Z. (2014). The effect of market orientation and entrepreneurial orientation toward learning orientation, innovation, competitive advantages and marketing performance. European Journal of Business and Management, 6(21), 69–81. https://doi.org/10.7176/EJBM

Patrisia, D., Linda, M. R., & Abror, A. (2022). Creation of competitive advantage in improving the business performance of banking companies. Jurnal Siasat Bisnis, 26(2), 121–137. https://doi.org/10.20885/jsb.vol26.iss2.art1

Porter, M. E., Magretta, J., & Kramer, M. R. (2014). Strategy and competition: The porter collection. Harvard Business Review Press.

Puspaningrum, A. (2020). Market orientation, competitive advantage and marketing performance of small medium enterprises (SMEs). Journal of Economics, Business, & Accountancy Ventura, 23(1), 19–27. https://doi.org/10.14414/jebav.v23i1.1847

Protcko, E., & Dornberger, U. (2014). The impact of market orientation on business performance–the case of Tatarstan knowledge-intensive companies (Russia). Problems and Perspectives in Management, 12(4), 225–231.

Pusung, C. S., Narsa, N. P. D. R. H., & Wardhaningrum, O. A. (2023). Innovation, competitive strategy and MSME performance: A survey study on culinary SMEs in Indonesia during the COVID-19 pandemic. Business: Theory and Practice, 24(1), 160–172. https://doi.org/10.3846/btp.2023.16676

Qi, Y., Zhao, X., & Sheu, C. (2021). The impact of competitive strategy and supply chain strategy on business performance: The role of environmental uncertainty. Decision Sciences, 42(2), 371–389. https://doi.org/10.1111/j.1540-5915.2011.00315.x

Rahman, S., Budiyanto, B., & Suwitho, S. (2021). The negative effect of market orientation on SMEs’ marketing performance in the creative economy sector, and how innovation mediating it. International Journal of Economics Development Research (IJEDR), 2(2), 77–91. https://doi.org/10.37385/ijedr.v2i2.272

Raju, P. S., Lonial, S. C., & Crum, M. D. (2011). Market orientation in the context of SMEs: A conceptual framework. Journal of Business Research, 64(12), 1320–1326. https://doi.org/10.1016/j.jbusres.2010.12.002

Rua, O. L., & Santos, C. (2022). Linking brand and competitive advantage: The mediating effect of positioning and market orientation. European Research on Management and Business Economics, 28(2), Article 100194. https://doi.org/10.1016/j.iedeen.2021.100194

Salim, M., Saputra, F., Hayu, R., & Febliansa, M. (2021). Marketing performance of bread and cake small and medium business with competitive advantage as moderating variable. Management Science Letters, 11(4), 1421–1428. https://doi.org/10.5267/j.msl.2020.10.024

Samad, S. (2018). Examining the effects of environmental strategy and competitive advantage on business performance. Management Science Letters, 8(9), 891–902. https://doi.org/10.5267/j.msl.2018.6.012

Slater, S. F., & Narver, J. C. (2000). The positive effect of a market orientation on business profitability: A balanced replication. Journal of Business Research, 48(1), 69–73. https://doi.org/10.1016/S0148-2963(98)00077-0

Smith, W. R. (1956). Product differentiation and market segmentation as alternative marketing strategies. Journal of Marketing, 21(1), 3–8. https://doi.org/10.2307/1247695

Song, X. M., & Parry, M. E. (1997). A cross-national comparative study of new product development processes: Japan and the United States. Journal of Marketing, 61(2), 1–18. https://doi.org/10.1177/002224299706100201

Sukaatmadja, I., Yasa, N., Rahyuda, H., Setini, M., & Dharmanegara, I. (2021). Competitive advantage to enhance internationalisation and marketing performance woodcraft industry: A perspective of resource-based view theory. Journal of Project Management, 6(1), 45–56. https://doi.org/10.5267/j.jpm.2020.9.002

Sutaguna, I. N. T., Achmad, G. N., Risdwiyanto, A., & Yusuf, M. (2023). Marketing strategy for increasing sales of cooking oil shoes in Barokah trading business. International Journal of Economics and Management Research, 2(1), 132–152. https://doi.org/10.55606/ijemr.v2i1.73

Suwandana, I. G. M. (2023). Role of competitive advantage in mediating the effect of market orientation on marketing performance of Small Medium Enterprise (SME): Study on the gold and silver jewelry craft industry in Singapadu Village, Gianyar, Indonesia. European Journal of Business and Management Research, 8(1), 247–251. https://doi.org/10.24018/ejbmr.2023.8.1.1807

Syahrial, H., & Nofriza, B. (2022). The effect of market orientation and product innovation on performance-mediated competitive advantage marketing (Case study of MSME Boutiq women in Medan market center). International Journal of Applied Finance and Business Studies, 10(1), 23–30.

Tjahjadi, B., Soewarno, N., Hariyati, H., Nafidah, L. N., Kustiningsih, N., & Nadyaningrum, V. (2020). The role of green innovation between green market orientation and business performance: Its implication for open innovation. Journal of Open Innovation: Technology, Market, and Complexity, 6(4), Article 173. https://doi.org/10.3390/joitmc6040173

Udriyah, Tham, J., & Ferdous Azam, S. M. (2019). The effects of market orientation and innovation on competitive advantage and business performance of textile smes. Management Science Letters, 9(9), 1419–1428. https://doi.org/10.5267/j.msl.2019.5.009

Venkatraman, N., & Prescott, J. E. (1990). The market share-profitability relationship: Testing temporal stability across business cycles. Journal of Management, 16(4), 783–805. https://doi.org/10.1177/014920639001600409

Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2017). Strategic management and business policy. Pearson.

World Trade Organization. (2023). MSMEs day 2020. https://www.wto.org/english/tratop_e/msmesandtra_e/msmesday20_e.htm

Wongsansukcharoen, J., & Thaweepaiboonwong, J. (2023). Effect of innovations in human resource practices, innovation capabilities, and competitive advantage on small and medium enterprises’ performance in Thailand. European Research on Management and Business Economics, 29(1), Article 100210. https://doi.org/10.1016/j.iedeen.2022.100210

Yasa, N., Giantari, I. G. A. K., Setini, M., & Rahmayanti, P. J. M. S. L. (2020). The role of competitive advantage in mediating the effect of promotional strategy on marketing performance. Management Science Letters, 10(12), 2845–2848. https://doi.org/10.5267/j.msl.2020.4.024

Zaini, A., Hadiwidjojo, D., Rohman, F., & Maskie, G. (2014). Effect of competitive advantage as a mediator variable of entrepreneurship orientation to marketing performance. Journal of Business and Management, 16(5), 5–10. https://doi.org/10.9790/487X-16510510

Zhang, J. Z. & Watson IV, G. F. (2020). Marketing ecosystem: An outside-in view for sustainable advantage. Industrial Marketing Management, 88(January), 287–304. https://doi.org/10.1016/j.indmarman.2020.04.023

Zhang, S., Yang, D., Qiu, S., Bao, X., & Li, J. (2018). Open innovation and firm performance: Evidence from the Chinese mechanical manufacturing industry. Journal of Engineering and Technology Management – JET-M, 48(May), 76–86. https://doi.org/10.1016/j.jengtecman.2018.04.004

Zhou, K. Z., Brown, J. R., & Dev, C. S. (2009). Market orientation, competitive advantage, and performance: A demand-based perspective. Journal of Business Research, 62(11), 1063–1070. https://doi.org/10.1016/j.jbusres.2008.10.001