The emergence of marketing in Millennial new ventures (original) (raw)
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Marketing today is more complex than ever before, with companies facing challenges such as market segmentation, saturation and the daily storm of "novelty" sweeping the market. Traditional marketing models are less adaptable to the new competition arising in the market, while entrepreneurial marketing integrates elements of both marketing and entrepreneurial management, making it more adaptable and at the same time enabling companies to better seize new opportunities and thus less likely to be eliminated and mobilize resources in a dominant market position. Entrepreneurial marketing has evolved rapidly in the past decade, but scholars have held different views on the definition of EM.. In this regard, the purpose of this paper is to analyze the development, application, dimensions and differences between entrepreneurial marketing theory and traditional marketing based on previous studies, and to discuss the significance of EM for the development of SMEs.
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Purpose -This paper identifies and examine a divergence of philosophies and practice between corporate/traditional marketing (CTM) and entrepreneurial marketing (EM). The paper examines the case of an entrepreneur who also possesses a deep understanding of CTM practices. The purpose of this paper is to learn which set of marketing practices entrepreneurs are likely to privilege. Design/methodology/approach -This paper is an ethnographic investigation of a marketing entrepreneur: one who possesses a deep understanding of CTM and who is also a successful entrepreneur. Data collection and analysis included participant observation, multiple interviews, and interpretation of textual and video data. Findings -Entrepreneurs with CTM expertise privilege elements of EM. Rather than relying on the traditional four Ps (product, price, place, and promotion), their marketing strategy and practice is reminiscent of the entrepreneurial four P's (purpose, practices, process, and people). Communication competency is foundational to successful EM. Practical implications -Entrepreneurs are encouraged to assess their personal situations and identify ways to improve their organizational and interpersonal communication skills and personal contact network processes. Originality/value -This paper provides a provocative look at how CTM theory and practice are superseded by the creativity, flexibility, and innovation of day-to-day entrepreneurship. The paper validates a framework for analysis of marketing practices specific to entrepreneurs.
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The purpose for this paper is to explore social media marketing from the perspective of entrepreneurial learning. The theoretical basis consists of contributions from the fields of organisational learning and entrepreneurship. An empirical study involving ten companies has been carried out. The data were analysed with methods inspired by grounded theory. Categories describing the companies’ social media presence from an entrepreneurial learning perspective are provided. The value of using organisational learning as a framework for social media marketing is shown. Thus, the paper presents a novel way of studying social media activities which should contribute to the theoretical fields of organisational learning and entrepreneurship as well as to the understanding of social media marketing. For practitioners, the findings provide additional knowledge that should be useful for their own social media activities.