Research Aim: To explore the influence of an overall increase in firm’s market information resources upon specialised and architectural marketing capabilities.
Theoretical Background: Cacciolatti and Fearne (2013) suggest that firms are placing themselves at a higher risk, in volatile and changing markets through inadequacies in their marketing practices. This is particularly evident in small to medium size firms’, which are further exposed as environmental uncertainty encourages short-term perspectives on their marketing strategy and informal and reactive behaviour. Therefore, there is an increasing need for smaller firms to develop effective responses to ensure their longevity. Meaningful market information allows for sound decision-making and the opportunity to strategically plan and influence choices concerning the selection and performance of marketing tasks in firms, consequently influencing marketing capabilities. However, research (Mithas et al., 2013; Erevelles et al., 2016) would indicate that organisations continually fail to seek, implement or maximise market information available to them.
Research Objectives: This research aims to investigate whether an increase in the level of market information possessed by a firm is positively related to the firm’s stability and performance, creating an interface between the firm, market information and the development of marketing capabilities.
RO1 - Assess a firm’s marketing capabilities (specialist and architectural) prior to increases in the absolute level of their market information resource.
RO2 - Assess how increases in the absolute level of a firm’s market information resource influences their specialised and architectural marketing capabilities, over time.
RO3 - Uncover the process by which an increase in a firm’s market information can influence the integration of their specialised and architectural marketing capabilities, over time.
RO4 - Assess the internal influencers inherent in the firm that affect the deployment of market information resources and the development of marketing capabilities.
Methodology: This research will be a qualitative and longitudinal study comparing and contrasting firms of different sizes (micro, small and medium), from a variation of sectors across the Northern Ireland food and drink industry, following their introduction to market information and their adoption of the resource. Many of these firms tend not to invest in market information due to time or monetary constraints.
Originality of Research: Previous research has engaged in theoretical explanations as to how firms deploy resources in ways that outperform similar strategies by competitors. However, an empirical examination of the role of market information in producing change in a firms internal marketing capabilities and the mediating factors inherent within the firm that influence this change, have yet to receive attention.
Contributions to Practice: Governmental reports have acknowledged the significant volatility of the food and drink industry over the past 10 years (now with the added uncertainty of a looming Brexit). This study aims to improve the competitive position of the Northern Ireland food industry by augmenting the sectors access to market and customer information, but also by developing its marketing skill sets with the purpose of invigorating the growth of the industry, enabling it to compete strongly in local, national and international markets.
