The Impact of Competitive Strategies on Firm Performance: The Mediating Role of Market Orientation and Innovation: An Empirical Study of the Georgian Beverage Sector
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.
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