Marketing in New Ventures: Theory and Empirical Evidence
Marketing is considered to be of utmost importance for the success of new ventures. Therefore, research on entrepreneurial marketing has increased considerably since the late 1980s. Its findings are varied and vibrant, yet also large and extremely fragmented, and a comprehensive theory of entrepreneurial marketing is still lacking. This situation proves to be a major hurdle for further advances, as the status quo of research cannot be accessed without major efforts. To help researchers and lecturers synthesize the growing body of knowledge, this paper brings together and reviews important research findings in entrepreneurial marketing. Thus, the paper creates a much needed map of the field, making this highly relevant topic readily accessible. Furthermore, the paper provides directions for future research, showing that many key questions of this field (e.g., various strategies and tactics of low-cost marketing) must be explored more thoroughly.