The Impact of Competitive Strategies on Firm Performance: The Mediating Role of Market Orientation and Innovation: An Empirical Study of the Georgian Beverage Sector

Abstract

This research paper delves into the competitive landscape of the Georgian beverage industry, where rivalry is strong and cutthroat. The emphasis of this article is mostly on the importance of market orientation and innovation in determining the success of competitive strategies in this sector. Advancing these perspectives is data from the area’s beverage industry, which has seen a surge in development, providing insight towards the obstacles companies experience in keeping up with their competitors. The study employs Structural Equation Modelling (SEM) Smart-PLS with 325 respondents from the beverage industry. By keeping in sight how market orientation and innovation on their own authority yield mediating effects, light can be shed on what matters for a firm to triumph in this demanding industry. The conclusion drawn suggests that companies embracing a realistic market-oriented outlook in their product planning and advertising, combined with centering on novelty, are better placed to stay successful within this fiercely competitive business space.