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EMAC 2021 Annual Conference

Situational effects of marketing strategies on financial performance

Published: May 25, 2021


Philip Wagner, Justus-Liebig-University; Stephan Volpers, Justus-Liebig-University Giessen; Alexander Haas, Justus-Liebig-Universität Giessen


While a plethora of studies have investigated market orientation (MO) and entrepreneurial orientation (EO), prior research is unclear about their interaction and has largely neglected possible contingencies of their performance. Against this background, based on the results of Bhattacharya et al. (2019), we investigate the effects of MO and EO and their interaction on financial performance, and the role of the situation and how it may have a different impact on the performance effect of each strategy. To analyze our conceptual model, we use consistent computer-assisted test analysis (CATA) procedures on annual reports and ad-hoc announcements of 292 companies. We assess the market situation using the risk-optimism framework of Pröllochs and Feuerriegel (2020), which classifies internal and external situations based on capabilities and opportunities or threats. Our findings provide important contributions to our understanding of MO and EO, and valuable recommendations for management. Thus, we found a positive performance-enhancing effect of EO in the context of risk. Even if the negative effect of risk predominates, EO can help to reduce losses.