The Role of Entrepreneurial Marketing Orientation on New Product Development Performance: A Empirical Study of Michelin Guide Restaurant in Thailand

Abstract

This research purposes to explore the relationship between entrepreneurial marketing orientation consisting of delivering customer value, innovation focused, opportunity driven, resource leveraging, and risk management and new product development performance via marketing capabilities, and innovation capabilities as mediating. While, business experience, transformational leadership, market turbulence, and competitive pressure are antecedents of entrepreneurial marketing orientation. Furthermore, value co-creation is a moderator of the research relationships. There are three theories that explain the relationship between all variables and the phenomena in this research; namely, the resource-advantage theory, contingency theory, and service dominance logic theory. Among these constructs are investigated in the Michelin Guide restaurant entrepreneur in Thailand.

This research used survey research. The literature’s existing scales were used to operationalize the constructs proposed in this study. Based on the responses to the questionnaire, this research applies the structural equation modeling technique to test the main hypothesis and the hierarchical regression analysis use to test moderating effect according to the associate hypothesis. Moreover, our data were validated and passed the convergent and discriminant validity tests through various analyses. For example, all the constructs reveal the adequate value of the average variance extracted as well as passing the method for discriminant validity.

The empirical results show that new product development performance receives a positive direct impact by entrepreneurial marketing orientation on the three factors: delivering customer value, opportunity driven and, resource leveraging. Likewise, new product development performance receives a positive indirectly impacted by opportunity driven, risk management, delivering customer value and, innovation focused thru marketing capabilities and innovation capabilities, which as mediating variable. In addition, the antecedent variables that had the greatest impact on entrepreneurial marketing orientation was business experience, transformational leadership, market turbulence, and competitive pressure, respectively. Moreover, the results of the analysis of the first set of moderator variables are value co-creation accelerates the relationship between delivering customer value, innovation focused and marketing capabilities. Lastly, the results of the next set analysis of moderator variables are value co-creation accelerates the relationship between opportunity driven, risk management and innovation capabilities. However, these findings provide theoretical and managerial contributions as well as future research directions.

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