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Purpose

The purpose of this paper is to analyze the strategic management of risks in companies from a marketing management perspective and to provide some guidance for management practice.

Design/methodology/approach

This paper presents the authors’ viewpoint, and it conceptualizes a new approach to risk management.

Findings

The conceptual discussion has opened up a possible new way for enterprises, especially SMEs, to start taking a strategic approach to risk.

Originality/value

This paper would like to contribute to the current debate on the role of marketing function in managerial practice beyond the classic four Ps.

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