A literature review on entrepreneurial competencies and digital marketing orientation
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Date
2024-12-19
Authors
Kumarasinghe, W.P.
Kuruppuge, R.H.
Athukorala, P.P.A.W.
Journal Title
Journal ISSN
Volume Title
Publisher
Postgraduate Institute of Humanities and Social Sciences (PGIHS), University of Peradeniya, Sri Lanka
Abstract
Digital technology has become integral to society, impacting the global economy and greatly affecting businesses. Businesses are adapting and employing digital technologies (DTs) to identify consumers' needs, wants, and preferences and satisfy them using effective digital marketing communication. Adopting DTs is instrumental and has influenced astonishing opportunities, whether businesses are large or small. Literature indicates digital marketing orientation (DMO) of Small & Medium Size Enterprises (SMEs) is subject to the intensity of entrepreneurial competencies (ECs). Scholars accept that SMEs should have an intense understanding and empirical knowledge of DTs to reach competitive advantages against rivals; however, they show major failures in embracing marketing against corporate entities. This has created a great loss of opportunities, competitive advantages and it also hinders growth potential. This is a less researched existing problem. This study scrutinizes related literature on ECs and DMOs of entrepreneurs while testifying to their actual use. The research problem can be stated as the factors influencing ECs and their orientation toward digital marketing usage and actual use. The main objective was to understand the factors that impact ECs and their orientation towards digital marketing applications using literature. Forty-four Journal articles were examined, and the results indicate that the basic global digital adoption is over seventy-five percent; however, the actual use for marketing is much lower. Sixty-four percent of SMEs have adopted email technology; nevertheless, they do not use it effectively for marketing initiatives. Seventy-two percent of SMEs have websites, whereas regular updating and using marketing indicates less. More than ninety percent use social media, but do not use tools and techniques optimally. Only twenty-five SMEs in developed countries employ advanced digital technologies like AI, AR, VR, LLM and DA. The deficiency of competencies causes these insufficiencies. There are three key outcomes from the study. First, it gives an opportunity to highlight major trends, themes, and patterns in the modern marketing domain while providing an opportunity to recognize research gaps. Second, the study makes a significant contribution to entrepreneurial marketing theory and SME's marketing literature. Finally, it consolidates and summarizes existing knowledge, offering an obvious picture of the problem.
Description
Keywords
Entrepreneurs' competencies , digital marketing orientation , marketing
Citation
Proceedings of the Postgraduate Institute of Humanities and Social Sciences Research Congress (PGIHS-RC)-2024, University of Peradeniya, Sri Lanka, P 2