Entrepreneurial marketing: Between entrepreneurial personality traits and business performance

Abstract

Objective: Practices of traditional marketing cannot be fully applied to small and medium-sized enterprises (SMEs). SMEs owners have a responsibility to replace the practice with innovative behaviour such as entrepreneurial marketing (EM). This study examines the role of EM in business performance and the role of entrepreneurial personality traits as antecedents of EM. Research Design & Methods: A quantitative research approach was adopted with a questionnaire to collect data from 187 SMEs owner/managers in Indonesia. SEM-PLS analysis was used for hypothesis testing. Findings: The results indicate that EM has a positive effect on business performance. SMEs owners/managers with the characteristics of extraversion, agreeableness, and conscientiousness can encourage the implementation of EM, which impacts business performance. Extraversion, conscientiousness, and openness to experience have a positive effect on business performance. EM is an important factor in maximising business performance, and entrepreneurial personality traits are needed to support the development of EM. Implications & Recommendations: This study contributes to research specifically on the role of EM in improving business performance. In addition, it revealed the importance of the entrepreneurial personality traits of owner/managers in developing EM in SMEs. Contribution & Value Added: This study offers an empirically based explanation of entrepreneurial personality traits effects on EM and business performance. It also identifies new opportunities for future research in the field of EM.