Evaluate and prioritize the impact of marketing strategies on reducing entrepreneurial risks

Document Type : Original Article

Authors

1 Management Department,shahr-e-Qods Branch, Islamic Azad University, Tehran, Iran

2 Management Department, Central Tehran Branch, Islamic Azad University,Tehran, Iran

3 Management Department,Kish International Branch, Islamic Azad University, Kish Island, Iran

Abstract

Purpose: The purpose of this study is to evaluate the impact of marketing strategies on entrepreneurial risks and determine their ranking. It is possible to rank marketing strategies to make the best decision to deal with the risks facing businesses.
Methodology: Based on preliminary studies conducted on SMEs in Iran, a four-part questionnaire with a five-point Likert scale was provided to entrepreneurs and managers of SMEs in Tehran. Data related to 20 questionnaires were analyzed using SPSS software. Cronbach's alpha method was used to determine the reliability of the questionnaire.
Finding: The results reveal that financial strategies, customer, relationships and online marketing do not have the same effect on entrepreneurial risks and we can rank them. Also, in examining the impact of business strategies on risks, the results showed that planning strategy has the greatest impact on reducing credit, operational and liquidity risks whilst relationship strategy has the greatest impact on reducing market risk. Online marketing strategy has the least observed effect on reducing credit risk and operational risk, and direct marketing strategy and financial strategy have the lowest effect on reducing liquidity and market risks.
Conclusion: The effect of business strategies on reducing entrepreneurial risks is confirmed and we can rank strategies based on their impact on the risks facing businesses. Entrepreneurial risks can be reduced by using marketing strategies, and in conditions of uncertainty, the use of knowledge and expertise of marketing consultants can lead to improved decisions of entrepreneurs, resulting in sustainability and growth of businesses.

Keywords

Journal of International Marketing Modeling
Volume 3, Issue 1
February 2022
Pages 37-50

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