Marketing capabilities and innovation. How do they affect the financial results of hotels? |
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Authors: | María-Ángeles Revilla-Camacho Beatriz Palacios-Florencio Dolores Garzón Camilo Prado-Román |
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Institution: | 1. Departamento de Administración de Empresas y Marketing, Universidad de Sevilla, Av. Ramón y Cajal, 1, Seville, 41018 Spain;2. Departamento de Organización de Empresas y Marketing, Universidad Pablo de Olavide, Ctra. Utrera Km1, Seville, 41013 Spain;3. Departamento de Dirección de Empresas, Universidad de Valencia, Av. Naranjos s/n, Valencia, 46020 Spain;4. Departamento de Economía de la Empresa, Universidad Rey Juan Carlos, Paseo de los Artilleros S/N, Móstoles, 28032 Spain |
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Abstract: | From the point of view of firms’ managers, the knowledge of the factors which explain their firms’ financial results is considered of great usefulness to propose the most appropriate and profitable marketing strategies and actions. This research sets out from this central idea and proposes a model of relationships that considers the marketing results, the marketing capabilities, and the innovation capability as key factors for achieving good financial results. This model is verified via an empirical investigation carried out among 200 directors of hotel establishments in Andalusia, a region in the south of Spain which is one of the country's main tourist destinations. The results indicate that innovation capability is strongly conditioned by marketing capabilities and resources and that this innovation capability affects the financial results of the firms analyzed. Likewise, it is deduced that a market-oriented management philosophy contributes to the development of these marketing capabilities. The implications for management are considered very relevant as they must lead these firms to invest in the development of marketing resources and capabilities, and apply a market-oriented management philosophy if they wish to improve their financial results. |
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Keywords: | financial results hotel sector innovation market orientation marketing capabilities |
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