Longevity through emotional intelligence: a relationship marketing approach in family businesses

Abstract

PurposeThis study aims to explore how emotional intelligence (EI) in members of family businesses can enhance the relationships with the stakeholders and whether adopting a relationship marketing approach could extend a family businesses' longevity, the businesses' success through generations.Design/methodology/approachA mixed-method approach was adopted, and two studies (quantitative followed by qualitative) were conducted in Mexico on small to medium-sized enterprises. This study considers the perspective of owners and employers of family businesses.FindingsThe study provides important insights into the relationship between EI and relationship marketing. Enhancing EI in family members whilst conducting a relationship marketing approach, both internal and external, will result in better performance. Family businesses can alleviate conflicts inherent to family emotions whilst building and maintaining strong relationships with customers and suppliers that can secure the long-term success of the organisation by enhancing EI.Originality/valueConsidering the majority of the literature is focussed on highly developed economies such as the USA, the UK and major developing economies such as China and India, this mixed-method study offers Mexico as a novel setting that has become an important procurement hub in light of the recent global developments and international relationship policies.