Marketing and entrepreneurial success in emerging markets: the nexus

Abstract

Purpose This paper aims to examine the interconnection between marketing and entrepreneurship among small and medium scale enterprises in emerging markets. Design/methodology/approach Quantitative data were obtained from 113 micro, small and medium scale enterprises (SME) into services, manufacturing and agriculture selected conveniently within the Tema metropolis, a harbour city in Ghana; however, purposive sampling was used to choose owners and managers as respondents pre-occupied with marketing and entrepreneurial roles. These voluntary informants have operated between 4 and 9 years. Findings The study reveals a significant relationship between five dimensions of the study including market orientation and entrepreneurial success; customer orientation and entrepreneurial success; competitor orientation and entrepreneurial success; intelligence generation; and entrepreneurial success, including information dissemination and entrepreneurial success. Research limitations/implications Blending marketing with entrepreneurial initiatives has the propensity to accelerate success for wealth and job creation for national development especially in emerging markets where poverty and under development abounds. Adoption of basic marketing principles enables local entrepreneurs to become vehicles for social re-engineering and for rapid socio-economic growth, which ultimately affects lives at the local level. The study was limited to opinion of SME managers and owners of a harbour city. Practical implications Application of basic marketing principles influences entrepreneurial success in emerging markets (EMs) highlighting opinions of managers and owners of SMEs strategy warranting attention of stakeholders. Thus, the study validates theoretical model of how prudent marketing and entrepreneurial attitude contributes entrepreneurial success. It also provides a new perspective on marketing principles and success in emerging markets. Social implications Consciously incorporating basic marketing principles into operations of MSMEs will impact performances; hence, social lives of entrepreneurs will be affected positively. Originality/value This study being among the few in sub-Saharan Africa highlights how application of marketing principles to entrepreneurial operations is a vital role in growing local MSMEs unto the world stage. Therefore, blending basic marketing principles with entrepreneurial initiatives will accelerate wealth and job creation and national development to achieve the world's sustainable development goals aimed at reducing poverty.

Attitude towards entrepreneurship: a study among Asnaf Millennials in Malaysia

“…Asnaf millennials in Malaysia in new venture creation (Gartner, 1985). The common background factor associated with entrepreneurship can influence the business survival in the entrepreneurship process, and it received attention in the entrepreneurial literature (Rauch and Frese, 2007;Dzogbenuku and Keelson, 2019;Hutahayan, 2019).…”

Intellectual Capital, Female Manager Innovative Behavior and Catering Business Performance

“…Belief in one's abilities needs in running a catering business. An entrepreneur who has a character who believes in self-ability will be able to control doubts and anxieties in running the catering business (Dzogbenuku and Keelson, 2019). With high self-confidence, a woman manager determines to succeed in the catering business, because a successful person reflects confidence.…”

Peran Dimensi-Dimensi Entrepreneurial Marketing dalam Mendorong Kesuksesan Bisnis UMKM di Industri Ekonomi Kreatif

“…Sejumlah studi mengenai entrepreneurial marketing menemukan bahwa entrepreneurial marketing memiliki peran penting bagi peningkatan kinerja dan kesuksesan binis pada perusahaan skala menengah dan kecil (Becherer et al, 2012;Dzogbenuku & Keelson, 2019;Fard & Amiri, 2018;Hacioglu, Eren, Eren & Celikkan, 2012;Herman, Setiyaningrum & Ferdinand, 2018;Hoque, Awang & Gwadabe, 2019;Mugambi & Karugu, 2017;Rodriguez, Gomez & Ortiz, 2019). Selain itu, entrepreneurial marketing ditemukan dapat meningkatkan pangsa pasar pada perusahaan kecil (Becherer & Helms, 2016).…”