Economic Value Creation by Social Enterprises Through Vincentian Marketing Orientation (Vmo)

Abstract

Purpose – The purpose is to study the impact of Vincentian Marketing Orientation i.e. Marketing Generation, Marketing Dissemination and Marketing Responsiveness on economic value creation by the social enterprises.

Design/ methodology/ approach – In this research study, a structured, close ended questionnaire was crafted, drawing on existing models and literature. Data was gathered from 107 social entrepreneurs in India and analyzed using structured equation modelling. The study aimed to formulate and test hypothesis, exploring the correlation between Vincentian marketing constructs and performance of social enterprise.

Findings: The findings of this research study shed light on how marketing constructs can be applied to enhance the profitability and foster economic value creation within the social enterprises. Specifically, the study investigated the impact of Vincentian Marketing Constructs- Marketing Generation (MG), Marketing Dissemination (MD) and Marketing responsiveness (MRES) on the social enterprises s for technology readiness (TR) and commercial readiness (CR). The study further explored how the Social Enterprise performances, measured by TR and CR, serves as a determinant of the economic value creation.

Research Implication: This research study aimed to identify the variables influencing social enterprise performance, ultimately leading to economic value creation. Economic value, a dependent variable, was determined based on TR and CR manifested by the social enterprise. The study focused on examining the impact of Vincentian marketing variables – marketing generation, dissemination and responsiveness across independent enterprises.

Practical Implication: Studying the impact of the Vincentan Marketing Orientation (VMO) Model on economic value creation was crucial for several reasons. Firstly, VMO model provides a structured approach to understanding how marketing strategies can be aligned with the organizational goals of Social Enterprises to enhance economic outcomes. By analyzing the model's application, social enterprises can identify key marketing practices that drive revenue growth, improve customer satisfaction, and foster brand loyalty. The research highlights broader economic implications of effective marketing orientation. In a competitive market, businesses that adopt a strategic marketing approach can differentiate themselves, leading to increased market share and profitability.

Social Implication: Social Enterprises grow on system networks of community relationships, with a high degree of reciprocity. Mostly, the traces of social enterprise initiatives draw attention to the local business model and its taxonomy in resolving the grassroot problems of the community. Social entrepreneurs want to generate durable social impact to the grassroot problem and therefore, they need to innovate. Social mission and financial sustainability usually sets the objective of social enterprise and therefore do not fit into the conventional form of organisational operation.

Originality/ Value: This study was a unique research study that integrate the VMO approach with the social enterprise technology readiness and commercial readiness thus leading to economic value creation by social enterprise