Today, small and medium-sized enterprises are recognized as the main growth factors in the industrial structure of many countries and play a key role in economic development, especially for developing countries that seek to rebuild and strengthen their economies. These enterprises have a significant impact on the global economy through entrepreneurship, innovation, technological change and job creation. Many of these companies implement marketing strategies informally without full awareness of their processes. As a result, small businesses are recognized as the main economic drivers in developing countries. In addition, increasing global competition, greater uncertainty and diverse demand for products and services have forced companies to create sustainable competitive advantages through market discovery and exploitation. This study was conducted using a narrative review method. First, literature related to exploration, exploitation, marketing and small and medium-sized industrial enterprises was searched from domestic and international databases and then data was extracted and analyzed. The findings were classified into two categories including environmental and organizational factors. The research findings show that SMEs need to be flexible to succeed in today's dynamic markets and must continuously monitor and analyze their business environment. The ability of these companies to explore and exploit new opportunities, especially in the field of technology and market changes, is a key factor for success in a competitive and challenging environment. Organizational factors also play an important role in facilitating this process and help companies survive and grow in such environments through innovation, continuous learning, efficient management, increased competitiveness, and acquisition of new knowledge.