Strategic Marketing and Innovation for Indian MSMEs

This book investigates how strategic marketing is influencing organizations’ innovation performance. It presents a structured study conducted on micro, small and medium enterprises (MSMEs) to identify the correlation between innovation and strategic marketing in both Indian manufacturing and service organizations. Strategic marketing, which achieves excellence in organizations, is at the heart of improving productivity, profitability and market sustainability, while also supplying organizations a much sought-after competitive advantage. It has been observed that strategic marketing can significantly help any manufacturing firm to attain the required level of growth, and can specifically be used by Indian firms as a means of deriving differential advantages.

Indian organizations that pursue more traditional approaches to strategy are now feeling the intense market pressure to modify their policy with respect to quality. The result has been a shift to ‘Strategy with Innovation’. As market competition has again increased, providing quality products and services alone is no longer sufficient; companies are additionally expected to provide products with a touch of innovation to attract customers. This calls for innovation in terms of products, processes, technologies, systems and practically every other area of an organization, which can only be achieved by combining strategies and innovation.

R. Srinivasan is Emeritus Professor, Department of Management Studies, Indian Institute of Science, Bangalore, India. After his postgraduate studies in Engineering, he obtained his doctoral degree (Fellowship Management Program) from the Indian Institute of Management, Bangalore. Subsequently, he engaged in postdoctoral training at the University of Leeds, UK. He has more than 35 years of experience in both academia and industry, having served at some of India’'s most reputed organizations, including Tata Consulting Engineers (TCE), New Delhi, the Administrative Staff College of India (ASCI), Hyderabad, and the National Institute of Training in Industrial Engineering (NITIE), Mumbai. His nearly 200 research papers have been published in leading international and national journals and he has authored 7 books including “Strategic Business Decisions: A Quantitative Approach”, published by Springer.

Lohith C.P. is an Assistant Professor at the Department of Mechanical Engineering, Siddaganga Institute of Technology, Tumkur, India. After completing his Bachelor’s degree in Mechanical Engineering, he engaged in postgraduate studies in Product Design and Engineering. He has more than 12 years of experience in academia and is presently pursuing his Ph.D. at the Department of Management Studies, Indian Institute of Science, Bangalore. His research work focuses on the topic, “Impact of Strategic Marketing and Innovation Performance of Indian MSMEs”. He has presented many papers at International conferences, many of which have been published in journals of renowned associations such as Institute of Electrical and Electronics Engineers (IEEE) and Thomson Reuters.