Serendipity, effectuation, entrepreneurial marketing and fast growth entrepreneurial firms

Growth is a broad area and many aspect of growth is under research especially in smaller and entrepreneurial firms. Many research show that growth and fast growth happens randomly and is not a continuous phenomenon. In this study, we investigate how successful entrepreneurs grow their firms. The investigation involved ten fast-growth firm cases in Iran -as an emerging economy- in different industries. The research is qualitative and data gathered through semi structured in-depth interviews. After coding, all interviews are mapped. By using Decision Explorer® all causal maps are analyzed. Analysis show that fast growth is a direct outcome of entrepreneurial marketing (EM) practices and indirectly influenced by serendipity. Serendipity is an element observed in many firms that generally occurs at the initial phase of firm formation and could bring great opportunities but indirectly associated with fast-growth. However, serendipity itself is not important but the ability to recognize and exploit opportunity is a crucial activity that entrepreneurs are really great at it. The ability of entrepreneurs to exploit serendipitous opportunities and use entrepreneurial marketing practices in terms of innovative products and activities/process lead to fast growth. Other elements, such as network, innovation, and perseverance, could either directly or indirectly influence growth.

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Design of the “International Entrepreneurial Marketing (IEM) Pattern”: Entrepreneurial Firms of Food Industries Throughout Iran

Iranian Entrepreneurship ◽

10.1007/978-3-319-50639-5_18 ◽

2017 ◽

pp. 295-318

Author(s):

Mehran Rezvani

Keyword(s):

Entrepreneurial Firms ◽

Entrepreneurial Marketing ◽

Food Industries

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When marketing is everyone’s business

Strategic Direction ◽

10.1108/sd-12-2014-0164 ◽

2015 ◽

Vol 31 (1) ◽

pp. 24-26 ◽

Cited By ~ 2

Keyword(s):

Social Practice ◽

Small Firms ◽

Practice Theory ◽

Marketing Research ◽

Entrepreneurial Firms ◽

Social Practice Theory ◽

Content Type ◽

Entrepreneurial Marketing ◽

Doing Business ◽

Research Stream

Purpose – The purpose of this paper is to draw attention to opportunities for further research into the marketing practices of small entrepreneurial firms. Design/methodology/approach – This study reviews the academic literature and identifies a gap in the existing research. It proposes the use of social practice theory in researching entrepreneurial marketing. Findings – Entrepreneurship and marketing have a lot in common – especially in small firms (small to medium-sized enterprises [SMEs]). When there’s nobody with a dedicated marketing role, then people all over the organization typically do things that contribute to the firm’s marketing effort. And, when marketing becomes the sum of activities carried out by different individuals at different levels within the SME, it becomes “an all-pervasive way of doing business”, rather like entrepreneurship, in fact. Research limitations/implications – This study provides a conceptual overview of the benefits of applying social practice theory to the study of entrepreneurial marketing. Practical implications – This study shows how social practice theory can be applied to the study of entrepreneurial marketing practices. Social implications – This study explains how these marketing practices can be conceptualized to provide insights into the significance of marketing-related activities in small firms. Originality/value – This study has the potential to facilitate the development of a new marketing research stream based on social practice theory.

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Re-Evaluating Entrepreneurial Marketing Dimension In The Pursuit Of SME Innovation And Growth

Journal of Business Strategies ◽

10.54155/jbs.38.1.1-24 ◽

1970 ◽

Vol 38 (1) ◽

pp. 1-24

Author(s):

Jamie Collins ◽

Daniel Gameti ◽

Sussie Morrish

Keyword(s):

Firm Performance ◽

Business Environment ◽

Internal Marketing ◽

Entrepreneurial Firms ◽

Firm Innovation ◽

Entrepreneurial Marketing ◽

Wide Range ◽

Growing Body ◽

The One

The relevance of Entrepreneurial Marketing (EM) dimensions in firm performance has been confirmed in many studies of a wide range of firms. EM is particularly helpful in turbulent and unpredictable business environment such as the one currently presented by the Covid-19 pandemic. There is however no consensus as to which EM dimensions are the most effective at promoting firm innovation and growth. Although many studies have used the seven dimensions proposed by Morris et al. (2002), there is a growing body of literature that points to the role of other dimensions. In this paper, we propose that in addition to the seven established dimensions, Internal Marketing Practices (IMP) can help improve our understanding of how entrepreneurial firms can achieve improved innovation and growth.

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