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Marketing Strategies for Small Business Sustainability Stetson Samel Jacque's King Walden University

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Marketing Strategies for Small Business Sustainability Stetson Samel Jacque's King Walden University Walden University ScholarWorks Walden Dissertations and Doctoral Studies Walden Dissertations and Doctoral Studies Collection 2018 Marketing Strategies for Small Business Sustainability Stetson Samel Jacque's King Walden University Follow this and additional works at: https://scholarworks.waldenu.edu/dissertations Part of the Business Commons This Dissertation is brought to you for free and open access by the Walden Dissertations and Doctoral Studies Collection at ScholarWorks. It has been accepted for inclusion in Walden Dissertations and Doctoral Studies by an authorized administrator of ScholarWorks. For more information, please contact [email protected]. Walden University College of Management and Technology This is to certify that the doctoral study by Stetson S. J. King has been found to be complete and satisfactory in all respects, and that any and all revisions required by the review committee have been made. Review Committee Dr. Susan Fan, Committee Chairperson, Doctor of Business Administration Faculty Dr. Rocky Dwyer, Committee Member, Doctor of Business Administration Faculty Dr. Peter Anthony, University Reviewer, Doctor of Business Administration Faculty Chief Academic Officer Eric Riedel, Ph.D. Walden University 2018 Abstract Marketing Strategies for Small Business Sustainability by Stetson S. J. King MBA, Webster University, 2013 MPA, Webster University, 2006 BS, Alcorn State University, 2002 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University December 2018 Abstract The restaurant industry is the second largest employer in the United States; however, only 33% of restaurant owners sustain profits longer than the first 5 years from inception. The purpose of this multiple case study was to explore marketing strategies that owners of small business restaurants use to sustain profitability for longer than the initial 5 years. Aaker’s brand equity model was the conceptual framework used to ground this study. Purposeful criterion sampling was used for the study. Participants included 3 owners of small restaurants operating in the southern United States. Data analysis involved using Yin’s 5-step data analysis process to identify and code themes. Analysis included data compilation, data disassembly, data reassembly, data interpretation, and data conclusion. Three themes emerged from the analysis of data: social media, word of mouth, and brand differentiation. The implications of this study for positive social change include business development opportunities, opening resource centers for training programs, and free webinars associated with marketing and brand equity strategies. Communities, organizations, and new entrepreneurs may benefit from the increase of social resources, community economic growth, and expanded employment opportunities. Marketing Strategies for Small Business Sustainability by Stetson S. J. King MBA, Webster University, 2013 MPA, Webster University, 2006 BS, Alcorn State University, 2002 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University December 2018 Dedication I dedicate this dissertation to my beloved wife, Andrea Denise King, my son Stetson Carter King, and my parents. Starting at an early age, my parents instilled in me the passion for learning and the desire to better myself. Though they passed away before they could see me accomplish my goal, I know that they are smiling down and are proud of me. Along this journey, my wife has been my biggest supporter and I will forever be in her debt. I want my son to know that life is not easy, but that he can achieve anything he puts his mind to. Acknowledgments I would like to acknowledge the many individuals who have supported me throughout my academic journey. The first acknowledgement is for my Committee Chair, Dr. Fan, for her support, availability, professionalism, and gregarious personality. I will most remember the candid advice she would offer me during our conferences. I am grateful to my committee members, Dr. Rocky Dwyer and Dr. Peter Anthony for their guidance and support. I would also like to thank all my family members who provided me with encouragement. To my sisters: Stephanie and Keisha and brothers: Treon, Samuel, and Jadarius I love you and just know that all things are possible for those that believe. To my parents whom have passed, thank you for love and support throughout my life. I stand on the shoulders of giants. Most importantly my special thanks go to my wife Andrea and my son Stetson. To my wife, thank you for supporting me throughout this academic journey. To my son, I have set the example for you to follow. Table of Contents List of Tables ..................................................................................................................... iv Section 1: Foundation of the Study ......................................................................................1 Background of the Problem ...........................................................................................1 Problem Statement .........................................................................................................2 Purpose Statement ..........................................................................................................2 Nature of the Study ........................................................................................................3 Research Question .........................................................................................................4 Interview Questions .......................................................................................................4 Conceptual Framework ..................................................................................................5 Operational Definitions ..................................................................................................6 Assumptions, Limitations, and Delimitations ................................................................6 Assumptions ............................................................................................................ 6 Limitations .............................................................................................................. 7 Delimitations ........................................................................................................... 7 Significance of the Study ...............................................................................................8 Contribution to Business Practice ........................................................................... 8 Implications for Social Change ............................................................................... 8 A Review of the Professional and Academic Literature ................................................9 Fundamental Issues of Marketing Strategies ........................................................ 10 Branding ................................................................................................................ 18 Relationship Marketing ......................................................................................... 22 i Resource Advantage ............................................................................................. 29 Profitability ........................................................................................................... 30 Small Restaurant Size and Survival ...................................................................... 37 Emerging Marketing Strategies ............................................................................ 38 Restaurants, Social Media, and Return on Investment ......................................... 40 Small Business Marketing .................................................................................... 41 Marketing Strategies and Social Change .............................................................. 43 Consumer Research and Marketing Innovation .................................................... 44 Transition .....................................................................................................................46 Section 2: The Project ........................................................................................................47 Purpose Statement ........................................................................................................47 Role of the Researcher .................................................................................................47 Participants ...................................................................................................................48 Research Method and Design ......................................................................................50 Research Method .................................................................................................. 50 Research Design.................................................................................................... 51 Population and Sampling .............................................................................................53 Ethical Research...........................................................................................................54 Data Collection Instruments ........................................................................................55 Data Collection Technique ..........................................................................................57
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