Adaptation of Marketing Strategies by SMEs: A Comparative Study of Implementation in Stable vs. Uncertain Times

Purpose: This study investigates the marketing strategies adopted by Small and Medium Enterprises (SMEs) in normal conditions and examines how the marketing strategies change during uncertainty, like the COVID-19 pandemic. The paper aims to provide insights into strategic flexibility and adaptive marketing, with a particular focus on normal and uncertain times with Price, Product, Place, and Promotion as the key marketing strategies. Design/methodology/approach: The study uses a quantitative research design where data were collected from 435 SME owners or managers in the National Capital Region (NCR) of India using a structured questionnaire. The respondents provided responses on marketing strategy implementation practices in normal times and uncertainty such as COVID-19. SPSS was used for data analysis using statistical techniques including Principal Component Analysis (PCA), Descriptive Statistics, Paired Sample T-Tests, Multivariate analysis of variance (MANOVA), and Paired Sample Correlations. Reliability and validity were ensured using Cronbach’s alpha, KMO, and Bartlett’s test. Findings: The results reveal significant differences in the marketing strategies implementation during normal and uncertain times. During uncertainty like COVID-19, more emphasis given on price-related strategies while SMEs focused on product, place, and promotional activities during normal times. These findings suggested more cost-effective strategies in uncertain environments. The study also highlights support for digital channels during crisis. Research limitations/implications: This study is based on cross sectional SMEs data collected from National Capital Region of India and relies on retrospective self-reporting about the COVID-19 period, which may limit the generalisation of the findings. Future research could also explore longitudinal data or multi region approaches to reflect dynamic changes in marketing strategies over time. The mediating and moderating effects of uncertainty can also be explored in future. Originality/value: The paper contributes to the literature by empirically testing the SMEs marketing strategies implementation during uncertain periods. It adds value to the fields of strategic flexibility, adaptive marketing, and SME resilience. The findings can be valuable to SME managers, policymakers, and researchers towards the enhancement of SME performance and resilience in uncertain environments.