The performance of entrepreneurial ventures

Abstract

Publisher's copyright statement:This article is c Emerald Group Publishing and permission has been granted for this version to appear here http://dro.dur.ac.uk/14711/. Emerald does not grant permission for this article to be further copied/distributed or hosted elsewhere without the express permission from Emerald Group Publishing Limited. Additional information:Use policyThe full-text may be used and/or reproduced, and given to third parties in any format or medium, without prior permission or charge, for personal research or study, educational, or not-for-prot purposes provided that:• a full bibliographic reference is made to the original source • a link is made to the metadata record in DRO • the full-text is not changed in any way The full-text must not be sold in any format or medium without the formal permission of the copyright holders.Please consult the full DRO policy for further details. Design/methodology/approach: Both postal and web surveys were utilised to collect responses from 128 entrepreneurs in the early stages of business creation. The data were subjected to exploratory and confirmatory factory analyses to establish the marketing practices in new ventures. These results were then subjected to hierarchical regression analysis to study the marketing-performance relationship. Further analysis was conducted to explore the moderation hypotheses.Findings: The results demonstrate that some practices generally associated with marketingselective distribution, market segmentation and advertising-have limited impact on performance in new ventures. In contrast, other practices such as product/service innovation, market research and service quality and functionality -do help establish competitive advantage. The results suggest that marketing practices associated with 'entrepreneurial behaviour' and not 'hard' marketing techniques drive new venture success. The results also support the moderation hypotheses confirming that market conditions help explain the role of marketing in new venture success.Research limitations/implications: The paper offers a new theoretical framework to better understand the marketing-performance relationship in new ventures and offers suggestions as to the specific conditions for effective use of various marketing practices.Originality/value: This is one of the first attempts to explore the underlying mechanisms that support marketing practices in new ventures. It reveals the hidden dimensions of the marketingperformance relationship and thereby makes a contribution to both the marketing and entrepreneurship literatures.

The impact of market information use on entrepreneurial performance: insights from the UK food industry

“…The more individual marketing managers use market information and apply it to solve managerial problems (instrumental use) as well as to broaden the managerial knowledge (conceptual use), the more small firm performance results are improved. Therefore, both instrumental and conceptual use of market information are complementary to firm performance, which is consistent with findings from previous research (Cillo et al, 2010;Parry and Song, 2010;Maltz et al, 2006) that also highlight the importance of management practices such as market research to enhance performance in entrepreneurial firms (Jayawarna et al, 2014).…”

“…, 2010; Parry and Song, 2010; Maltz et al. , 2006) that also highlight the importance of management practices such as market research to enhance performance in entrepreneurial firms (Jayawarna et al. , 2014).…”

SECURE – a new business model framework for measuring start-up performance

“…The study argues that a business proposition should be not only desirable but also marketable. Webb et al (2011), Jayawarna et al (2014) and Lam and Harker (2014) emphasized the role of marketing in positively impacting start-up performance. They reported on the dearth of research linking effective marketing practices to potential and new venture performance.…”

Examining Entrepreneurial Marketing Behaviours in Social Enterprises

“…Most entrepreneurs do not understand marketing, and often underestimate the time and effort needed to complete marketing activities (Hisrich, 1992;Özmaden et al, 2018). Entrepreneurs tend put low priority on marketing as they feel it is more suitable for larger organisations (Jayawarna et al, 2014). They might not use the word 'marketing' often, but marketing activities have played a crucial role in every stage of their business lifecycle (Lam and Harker, 2014).…”

“…These limitations include poor cash flow, lack of marketing expertise, business size, tactical and strategic customer-related problems (O'Dwyer et al, 2009) having few major clients (Jones and Rowley, 2011;Kolabi et al, 2011) shortness of staff, lack of management knowledge (Fillis, 2002;Jutla et al, 2002). Due to these limited resources, entrepreneurs focus more on short-term survival rather than long-term growth (Jayawarna et al, 2014;Peters and Zelewski, 2018). An earlier study conducted by Reijonen (2010) also found that marketing in SMEs focuses on present needs.…”