This study, the resource-advantage theory describes the model set of the EMO on marketing capabilities and innovation capabilities and NPD performance. There are five dimensions of entrepreneurial marketing orientation; First, delivering customer value is offering benefits and the best through activities, products, and services of the business leads to the target market for a sustainable competitive advantage for the entrepreneur (Kumar & Reinartz, 2016). In addition, the conceptual framework for the research is determined by the R-A theory, which leads to the main parameters of this study.
Therefore, this study concludes that resource advantage theory or R-A theory describes the support of EMO framework on marketing capabilities and innovation capabilities and NPD performance for Michelin Guide restaurant investigation in Thailand. The background of the EMO concept originates from Morris et al., (2002), studying entrepreneurial marketing or EM in various SME businesses. Following this, the interaction between entrepreneurship and marketing has led to the proposal of the concept of entrepreneurial marketing orientation (EMO).
This article proposes further development of the concept of entrepreneurial marketing to the concept of entrepreneurial marketing orientation. Therefore, this study of the delivery of customer value is defined as the presentation of benefits and the best through activities, products and services of the firm lead to the target market to a sustainable competitive advantage for the entrepreneur. Based on an overview of the relevant literature discussion, the delivery of customer value is the important factor of entrepreneurial marketing orientation to evaluate what value each specific activity adds to the firm's products/services.
This research determines value co-creation as the moderator of the relationships between all dimensions of entrepreneurial marketing orientation (opportunity-driven, innovation focus, risk management, resource exploitation, and customer value delivery) and their implications for marketing and innovation capabilities. The population and sample are chosen from the online database of the Michelin Guide Thailand (2020). Offering benefits and the best through the company's activities, products and services leads to the target market gaining a sustainable competitive position.
VCC)
In this chapter, the results of the hypothesis testing are illustrated and describe the respondent's and entrepreneurial characteristics with descriptive statistics. This section also reveals the results of examining the validity of the observed variables in this study. Based on Hair et al. 2011), hypothesis testing is the test of the path coefficient of internal model (independent variable affect dependent variable).
The results of the analysis of the first set of moderator variables for impact of value co-creation on the relationship between the EMO dimension and marketing capabilities, there is important issue as follows. The results of the analysis of the second set of moderator variables for impact of value co-creation on the relationship between the EMO dimension and innovation capabilities, there is important issue as follows. The conclusion consists of the effect of entrepreneurial marketing orientation consisting of customer value delivery, innovation-focused, opportunity-driven, resource utilization and risk management that influence NPD performance through marketing capabilities, and innovation capabilities as mediation.
While the value co-creation is assigned as a moderating variable that moderates the influences of the entrepreneurial marketing orientation (EMO) and marketing capabilities, innovation capabilities. Therefore, the resource constraints of the SME business is an important factor that does not affect marketing capabilities of the study of this context. This is consistent with the study of Park (2010)'s conclusion that experience of the manager is also very important for risk management.
This is consistent with Kuckertz & Wagner's (2010) study, as experienced business people will be more aware than inexperienced people of the challenges that accompany value. This is consistent with Patterson's (2003) study in this way; Senior managers can gain a clearer understanding of the interplay between innovation focus, R&D investment, revenue growth, and profitability over time. This is consistent with Cassar's (2014) study, the benefit of industry experience on entrepreneurial performance is greater in high-tech industries.
First, this study aims to provide an explicit understanding and knowledge of the relationship between entrepreneurial marketing orientation and marketing capabilities, innovation capabilities and NPD performance in the context of Michelin Guide restaurant in Thailand. The findings explain that as market turbulence intensifies, it helps entrepreneurs to creatively deliver value to their customers by leveraging available resources and availability and always fine-tuning risk management. d) The competitive pressure variable has little influence on the dimension of entrepreneurial marketing orientation. However, the concept of this series of variables was determined by the service dominance logic theory, which led to more valuable additional results in this study are as follows:. a) The results of the analysis of the first set of moderator variables for the impact of value co-creation on the relationship between the EMO dimension and marketing capabilities are important questions as follows: Value co-creation accelerates the relationship between delivering customer value, innovation-focused and marketing capabilities.
On the other hand, if the entrepreneur's co-creation of value with the customer will result in them neglecting risk management, because the entrepreneurs can see that the customer's participation is the important factor that causes the risk in the company less business. b) The results of the next set of analysis of moderator variables for the effect of value co-creation on the relationship between EMO dimensions and innovation capabilities are as follows: Value co-creation accelerates the relationship between opportunity-driven, risk management and innovation capabilities. Finally, the study acknowledges the limitations of the research and suggests various issues in entrepreneurial marketing orientation on NPD performance.
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