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.

Do knowledge management and Key customer-focused enhances banks' performance and competitive advantage in Ethiopia?

“…The mediating role of quality and reward on business performance can be explained by competitive advantage (Karaev, 2023;Al Khasabah et al, 2022&Tryson, 2022. Businesses can gain a competitive edge in terms of service quality, product, and reward measurements by implementing a reward system.…”

Leveraging Competitive Strategies on Business Outcomes Post-Covid-19 Pandemic: Empirical Investigation From Africa

“…The measures and individual actions that serve as substitutes or proxies for organizational phenomena. Business outcome measurement is comprised of management and control systems that generate information for internal and external users (Karaev, 2023;Khan, 2022). The business outcome can be primarily based on non-financial measures and financial measures.…”

“…Competition is fundamental and central to business outcomes because it has a significant impact on firm behaviour, and overall performance (Karaev, 2023;Kabuoh, Moibi Ademilua, & Sunmola, 2020;Walumweya, & Phiri, 2022). The competitive environment has increased globally due to the pandemic and economic turbulence.…”

“…COVID-19 is also a crisis of knowledge and strategy adoption (Thumiki, & Jurcic, 2021), in particular competitive strategies (innovative capability, diversification capability, differentiation capability and cost leadership capability), amongst others. There has been less focus on competitive strategies despite the assertions of scholars that competitive strategy and business outcomes must be aligned for synergistic effect (Bagnoli & Giachetti 2014;Karaev, 2023;Su, & Daspit, 2021). In Africa and many other developing nations particularly Nigeria, the adoption of strategies such as diversification, differentiation, cost leadership and innovative capability have been weak and competition continues to grow unabated within the business landscape this keeps getting stricter day by day, particularly amongst the consumer goods industry and listed companies.…”

“…Studies have been conducted on competitive strategies and business outcomes in different countries but the different contexts in which these studies have been done varied (Enobong, Ekpenyong-Effa, Obong, Hammed, & Isong, 2022;Exposito, Sanchis-Llopis, 2018;Gbolagade, Adesola, & Oyewale, 2013;Matthews, MacCarthy, & Braziotis, 2017;Moskovich,2020;Niyi, Rita, & Mathew 2022;Onufrey, Bergek, 2021;Parnell, & Brady, 2019;Nyaberi, 2021). Apart from the foregoing development, previous studies on competitive strategies and business performance largely concentrated on developed economies and under different environmental conditions (Alnidawi & Omran, 2016;Crespo, Crespo, & Calado, 2022;Erol & Kirpik, 2022;Kabuoh, Moibi Ademilua, & Sunmola, 2020;Karaev, 2023;Kharub, Mor, & Rana, 2022;Putri, & Pan, 2022;Sharma, 2020;Trivedi, & Srivastava, 2022;Wangui, Kifleyesus, & Mote, 2021) and on small and medium-sized enterprises (SMEs) and manufacturing sector (Ates, 2022;Kharub, Mor, & Rana, 2022;Mokbel, Koliby, Abdullah, & Mohd, 2022;Laban, & Deya, 2019). However none of these studies examined the effect of competitive strategy on business outcomes within emerging nations like Nigeria and they mostly measured performance and business outcomes using financial measures (Alhassan & Memunda, 2020: Gabriel, & Osazuwa, 2020.…”