The performance of entrepreneurial ventures: Examining the role of marketing practices

Hdl Handle:
http://hdl.handle.net/10034/620931
Title:
The performance of entrepreneurial ventures: Examining the role of marketing practices
Authors:
Jayawarna, Dilani; Jones, Ossie; Lam, Wing; Phua, Sabrina
Abstract:
Purpose – Despite the importance of marketing to the success of entrepreneurial ventures very few researchers have studied the links with new business performance. The purpose of this paper is to examine a number of marketing practices in relation to the performance of new firms. Furthermore, the study considers the moderating influence of market competitiveness on the marketing practice-performance relationship. Design/methodology/approach – Both postal and web surveys were utilized 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 marketing – selective 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 marketing-performance relationship and thereby makes a contribution to both the marketing and entrepreneurship literatures.
Affiliation:
University of Liverpool; Durham University; Manchester Metropolitan University
Citation:
Jayawarna, D., Jones, O., Lam, W., & Phua, S. (2014). The performance of entrepreneurial ventures: Examining the role of marketing practices. Journal of Small Business and Enterprise Development, 21(4), 565-587. https://doi.org/10.1108/JSBED-05-2014-0090
Publisher:
Emerald
Journal:
Journal of Small Business and Enterprise Development
Publication Date:
2014
URI:
http://hdl.handle.net/10034/620931
DOI:
10.1108/JSBED-05-2014-0090
Additional Links:
https://www.emeraldinsight.com/doi/full/10.1108/JSBED-05-2014-0090
Type:
Article
Language:
en
ISSN:
1462-6004
Appears in Collections:
Chester Business School

Full metadata record

DC FieldValue Language
dc.contributor.authorJayawarna, Dilanien
dc.contributor.authorJones, Ossieen
dc.contributor.authorLam, Wingen
dc.contributor.authorPhua, Sabrinaen
dc.date.accessioned2018-03-13T14:44:29Z-
dc.date.available2018-03-13T14:44:29Z-
dc.date.issued2014-
dc.identifier.citationJayawarna, D., Jones, O., Lam, W., & Phua, S. (2014). The performance of entrepreneurial ventures: Examining the role of marketing practices. Journal of Small Business and Enterprise Development, 21(4), 565-587. https://doi.org/10.1108/JSBED-05-2014-0090en
dc.identifier.issn1462-6004-
dc.identifier.doi10.1108/JSBED-05-2014-0090-
dc.identifier.urihttp://hdl.handle.net/10034/620931-
dc.description.abstractPurpose – Despite the importance of marketing to the success of entrepreneurial ventures very few researchers have studied the links with new business performance. The purpose of this paper is to examine a number of marketing practices in relation to the performance of new firms. Furthermore, the study considers the moderating influence of market competitiveness on the marketing practice-performance relationship. Design/methodology/approach – Both postal and web surveys were utilized 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 marketing – selective 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 marketing-performance relationship and thereby makes a contribution to both the marketing and entrepreneurship literatures.en
dc.language.isoenen
dc.publisherEmeralden
dc.relation.urlhttps://www.emeraldinsight.com/doi/full/10.1108/JSBED-05-2014-0090en
dc.rights.urihttp://creativecommons.org/licenses/by-nd/4.0/en
dc.subjectEntrepreneurshipen
dc.subjectMarketing practicesen
dc.subjectMarket competitionen
dc.subjectNew venture performancesen
dc.titleThe performance of entrepreneurial ventures: Examining the role of marketing practicesen
dc.typeArticleen
dc.contributor.departmentUniversity of Liverpool; Durham University; Manchester Metropolitan Universityen
dc.identifier.journalJournal of Small Business and Enterprise Developmenten
dc.date.accepted2014-06-03-
or.grant.openaccessYesen
rioxxterms.funderUnfundeden
rioxxterms.identifier.projectUnfundeden
rioxxterms.versionAMen
rioxxterms.licenseref.startdate2014-01-01-
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