Risk Management and Competitive Advantage Relationships in Export Marketing from a Marketing Perspective
Chapter from the book:
Yılmaztürk,
Y.
&
Akdoğan,
Ç.
(eds.)
2023.
Selected Topics in Marketing: Concepts and Studies.
Synopsis
Risk and uncertainty are considered significant factors in every aspect of business operations. These two concepts both complicate decision-making in the strategic activities of businesses and, when approached correctly, become essential elements behind business success. The subject of this study encompasses the risks encountered by businesses in their marketing processes, specifically focusing on the risks faced during export activities in the international marketing stage and the risk management processes. In this study, firstly, the concepts of risk and risk management are explained, followed by the marketing risks listed. After explaining the risks encountered in export marketing, the study addresses the risk management process from a marketing perspective. Also, it explains how the risk management process applied in export marketing can influence and impact the competitive advantage, all based on findings from the literature. As a result, in the current uncertain market environment, businesses gain a competitive advantage by implementing appropriate risk management processes to address political, commercial, cultural, and country-related risks. This advantage is gained through superior production of goods and services compared to competitors, undertaking riskier ventures, demonstrating better performance, and establishing a more flexible corporate image.