Strategic alliances as an element of innovative marketing in SMEs

Abstract

The focus point of this article is to explore the nature of strategic alliances as an innovative marketing tool. Previous research has identified a list of key constituent elements that encompass the nature of innovative marketing in SMEs (small to medium sized enterprises). One of these elements is the creation of strategic alliances particularly when SMEs find themselves operating in a competitive environment. In order to understand the complex and dynamic issue of innovative marketing in SMEs a case study approach was adopted in order to facilitate the emergence of new theoretical relationships. Eight case SMEs were recruited representing a mix of service and manufacturing industries. The study revealed that SMEs engage in different types of strategic alliances for innovative marketing purposes to achieve two different outcomes: first, to achieve different organisational goals, and second, to overcome inherent challenges such as a lack of resources. By linking with other companies SMEs can access a broader variety of resources (such as expertise, finance and networks) over a wider geographic area. These linkages increase their competitive advantage and innovative marketing impact.

Keywords:

• strategic alliances
• innovation
• SME marketing innovation
• marketing activities