Entrepreneurial Marketing & Performance of Small & Medium Enterprises in Developed and Developing Economies: A Conceptual Exploration

Small and Medium Enterprises (SMEs) are renowned as the engine of economic development in both developed and developing regions in the era of economic globalization. However, the existing knowledge in the field outlines numerous factors that hinder SMEs’ growth and survival and lead to business failures in terms of bankruptcy and liquidation. In such a context, Entrepreneurial Marketing (EM) is one of the critical determinants of growth and survival of the SME sector since their marketing approaches do not fit with established traditional marketing theories. Successful SMEs can acquire a competitive advantage on their unique benefit of “smallness,” often under limited resource conditions and uncertain market circumstances. Hence, this paper aims to review the literature on EM and its impact on the performance of SMEs, particularly in developed and developing regions. Accordingly, the review identified a range of EM dimensions that directly affect SME performance in developed and developing regions. The study also identified many other variables have a causal effect on the relationship between EM and SME performance, including external environment, internal venture environment, and venture approach to marketing. Finally, the study provides practical implications for practitioners and theoretical implications for researchers as an array of progressive areas for future endeavors.