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While metrics are becoming increasingly important for marketing’s relevance, there is also a need to understand how they, as enablers of learning, affect marketing’s adaptive capabilities that ensure its long-term success. Therefore, this study aims to test the association of marketing and financial metrics use and the metric-based orientations of training and compensation, with two key marketing routines – exploitation, i.e. the perfecting of existing activities while allowing for incremental adaptations and exploration or experimentation accompanied by radical adaptation.

The study gathers data from 205 managers and uses partial least squares structural equation modeling to test the hypothesized relationships.

Marketing metrics encourage both forms of marketing adaptation. Financial metrics use discourages exploration. Market orientation and long-term orientation strengthen (weaken) the positive (negative) relationship between marketing (financial) metrics use and marketing exploration. Metric-based training is more positively associated with both adaptive capabilities than a metric-based compensation orientation, albeit weakly.

The study’s central proposition – that different metrics or metric orientations are associated with distinct types of knowledge, interpretations, mindsets, motivations and cultural contexts – provides a deeper theoretical understanding of the pathways by which a metric emphasis affects marketing adaptation.

Marketing managers should emphasize marketing metrics and training more than compensation, to promote marketing exploitation/exploration, while exercising caution in overstressing financial metrics given their negative association with exploration. This latter negative relationship can be weakened (as can the positive one between marketing metrics and exploration be strengthened) with increased market orientation and long-term orientation.

This study addresses the research gap regarding the relationship between metrics as a configurational element of marketing organization and marketing adaptation.

March’s 1991 work on exploitation and exploration has been studied in many different industries. The purpose of this paper is to analyze signals emanating from exploration and exploitation alliances within the pharmaceutical industry context. Specifically, the authors explore market reactions to announcements of alliance formations based not only on alliance type but also in terms of their marketing intensity and leverage.

The authors employ a two-stage event-study market model using a two-day event window (event days 0, +1), creating cumulative abnormal returns (CARs). In the second stage, the authors regress the CARs against an array of control and explanatory variables.

Findings suggest that even though firm announcements of exploration and exploitation formations initially generate favorable market reactions, the former has a greater impact on CAR relative to the latter. Furthermore, leverage and marketing intensity moderate the relationship between firms’ alliance formation announcements and CARs generated. In particular, firms’ alliance formation announcements generate relatively greater market reactions at lower (higher) levels of the firm’s leverage (market intensity).

Event studies are valuable for gauging initial impressions of management action, but they are not meant to address long-term value creation. While market reactions suggest the likelihood of an alliance’s success or failure, managers also assess the risk to a firm’s financial health should the alliance fail. As a result, announcements that signal the firm has discretionary capabilities to ameliorate the effect of a failed alliance are better received.

This study is the first to analyze the stock market’s perception and valuation of different types of risk, classified by exploration vs exploitation alliances. The study also contributes to the literature by analyzing how investors use the information about a firm’s financial leverage and marketing activities to fine-tune their valuation of different types of risk-taking activities.

First, this paper aims to argue that small- and medium-sized manufacturers’ (SMMs’) production-exploitation can generally and primary influence their choices of export marketing control modes (EMCMs). Building on this central argument, two other supportive production-related resources: “production-exploration” and “relationships with home suppliers” are argued that could moderate this proposed effect. Three EMCMs including independent, hybrid and integrated modes, are discussed. Second, this study also proposes that SMMs with an internal fit between their three-key production-related resources and their choices of EMCMs will outperform their counterparts that do not have such internal fit.

This study designed a multiple-source survey to collect data from 158 Taiwanese SMMs that are highly dependent on export sales.

The results support the argument and the study connects the resource-based view (RBV) to the B2B marketing literature to better understand the EMCMs of SMMs.

Drawing on the RBV, this study examines how the three-key production-related resources can influence SMMs’ choices of EMCMs of branding and channels, respectively.

This study aims to fill three theoretical gaps in previous literature on exploration and exploitation: the relationship between exploration and exploitation is inconclusive; the influences of exploration and exploitation on firm performance are not consistent; and no empirical studies have integrated the antecedents of exploration and exploitation from the different research fields.

The study conducted a meta-analysis to quantitatively synthesize 143 studies with 257 independent samples to understand the relationship between exploration and exploitation and their consequences and antecedents.

The results show that exploration and exploitation are positively correlated with each other, and both of them can boost firm performance. Moreover, firm capabilities, firm size, firm age, competitive intensity, market orientation and entrepreneurial orientation positively influence exploration, and firm resources, firm capabilities, firm size, firm age, market orientation and entrepreneurial orientation positively influence exploitation. Competitive intensity negatively influences exploitation. Surprisingly, market turbulence does not significantly influence exploration or exploitation.

The results not only contribute to the theories by reconciling the inconsistent results but also provide insight for firms with guidance about under what conditions they should use what strategies.

This study aims to examine the moderating effects of entrepreneurial orientation (EO) on the relationship of exploitation and exploration strategies with export performance. Drawing on the current literature, this conceptual paper develops a framework that first links the exploitative and explorative strategies with the export performance. Later, propositions are developed to indicate different combinations of individual dimensions of EO as moderating factors to this relationship.

This is a conceptual paper which builds on prior conceptual and empirical management research.

The preliminary conceptual findings suggest that the exploitative strategy is valuable in the short run after new entry, while explorative strategy is significant in the long run only after new entry. For the moderating effects, a combination of high innovation, high proactiveness and high risk-taking may positively influence both the strategies with export performance. While low innovativeness but high proactiveness and high risk-taking is assumed to positively moderate the exploitative strategy and export performance relationship, a negative moderating role is seen for explorative strategy and export performance. Similarly, high innovativeness but low risk-taking and low proactiveness will negatively moderate the relationship between exploitative/explorative strategy and export performance.

The current literature warrants research on this topic. For example, literature lacks studies regarding a better understanding of the impact of export market exploitation and exploration on export performance. Further, the impact of EO on performance is well acknowledged in the literature, but their relative influence on the performance of exporting firms remains inconclusive.

Drawing on the resource advantage and organisational learning literatures, this paper aims to investigate the linear, moderated, complementary and non-linear effects of export market exploitation and exploration on export performance.

A quantitative study was performed using an online survey. The final sample consisted of 267 Portuguese export manufacturing firms. Data were analysed using structural equation modelling.

Export market exploitation and exploration is positively and negatively related to export performance in a linear way, respectively. Export market exploration improves export performance under high levels of export market turbulence. Balancing export market exploitation with export market exploration enhances export performance. High levels of export market exploitation provide an additional boost to performance.

This study contributes to a better understanding of how market exploitation and exploration relate to performance in the export context. To enhance export performance, managers should deploy high levels of export market exploitation, pursue export market exploration in dynamic export markets, and maintain a balance between export market exploitation and exploration.

This paper contributes to the export marketing field by shedding light on the complex nature of the relationships among export market exploitation, exploration and performance. Overall, the results provide novel evidence concerning the internal and external contingencies that affect the success of export market exploitation and exploration.

The purpose of this paper is to examine whether or not transaction marketing is being employed together with various types of relationship marketing. A classification scheme of contemporary marketing practices (Coviello, Brodie and Munro, 1997) is reviewed, and the need to enrich earlier research findings is discussed. A case study methodology for conducting research into the New Zealand wine sector is then considered. The preliminary findings suggest that vineyards increasingly employ a pluralistic approach to marketing combining transaction marketing with relational types of marketing, and that the softer sides of marketing are becoming important, such as social bonding, networks and interactions. The findings also give insights into whether or not vineyards are driven by their product or market.

This study aims to assess the relationship between entrepreneurial orientation (EO) and development culture and the role of willingness-to-change in this relationship and analyzes their effect on new product exploration in small enterprises.

A model based on structural equations with partial least squares (PLS) analysis is used to test the hypotheses. This model was tested on a sample of 250 respondents from 125 small enterprises, with less than 50 employees, located in all seven emirates of the UAE.

The results suggest that EO will induce organizational members’ willingness-to-change and will favor the advancement of a development culture in small enterprises; in addition, EO, willingness-to-change and development culture can lead to new product exploration in small enterprises.

The study findings are subject to potential limitations. First, the research design for the quantitative study was cross-sectional and self-reported, which could cause problems of common method and inflation bias. Second, the conceptual model may not be completely representative of the perspective the authors aim to elucidate. Third, as this study is country-specific, further research investigation in other developing economies is recommended to further understand the possible influences of cultural or socioeconomic contexts on the relationships presented in the model.

The article includes several practical implications about the relationships between willingness-to-change and development culture. It sheds light on the controversial link between EO and new product exploration in small enterprises.

The present study expands current knowledge on the EO–new product exploration relationship by investigating some key mediating variables such as willingness-to-change and development culture in an under-researched context such as UAE.

The purpose of this paper is to investigate the historical contributions of complex innovations (both creative and tactical components) in a formative period in a major Australian department store, David Jones Ltd.

The study uses a context-specific lens to examine complex retail innovation. The study adopts a longitudinal design with the focus on a single firm, which met the inclusion criteria. Data collection was predominately from company archival materials and publicly available documents, including newspapers.

An in-depth analysis of two complex innovations demonstrates the retailer’s successful management of both marketing exploration (innovation) and marketing exploitation of that innovation. Effective marketing requires operational, tactical marketing exploitation to dovetail marketing exploration.

The study is limited to one successful department store. Notwithstanding, there are expectations that the lessons extend to many other retailing organizations.

The practical relevance is clear, with the emphasis on retail innovation (and especially complex innovation) as a basis for both surviving and thriving in an ever-changing marketing environment.

The use of a complex innovation approach is a novel way of examining marketing history. The study concludes that both marketing exploration and marketing exploitation are essential for retail longevity.

Shifting demand and ever-shorter production cycles pressure manufacturing flexibility. Although the literature has established the positive effect of the firm's absorptive capacity on manufacturing flexibility, the separate role of the innovation competencies of exploitation and exploration in such a relationship is still under-investigated. In this study, the authors examine how these competencies affect manufacturing flexibility.

The authors use survey data from 370 manufacturing firms and analyze them using covariance-based structural equation modeling (CB–SEM).

The results indicate that absorptive capacity has a strong, positive and direct effect on exploitative and exploratory innovation competencies, proactive and responsive market orientations, and manufacturing flexibility. The authors’ findings also demonstrate that the exploitative innovation competencies mediate the relation between responsive market orientation and manufacturing flexibility. Essentially, these exploitative innovation competencies produce a direct positive effect on manufacturing flexibility while simultaneously being a vehicle for absorptive capacity's indirect effects on it. An exploration innovation strategy does not significantly affect manufacturing flexibility.

This study contributes by combining key strategic features of firms with manufacturing flexibility, while providing new empirical evidence of the mediation of the exploitative innovation competencies in the relation between responsive market orientation and manufacturing flexibility.