Digital Entrepreneurial Marketing Strategy: An Empirical Analysis Using Resource Based Theory

Abstract

Digitalization has impacted every concept in the organization. The concept of entrepreneurial marketing was developed at the intersection of the two sciences of entrepreneurship and marketing. Several academics and researchers have been drawn to the term “Entrepreneurial Marketing” (EM), not just from the domains of marketing and entrepreneurship but also from economics, psychology, and sociology. However, it is still considered to be developing. The definitions, standard principles and practices centered around the term entrepreneurial marketing are still missing. Practical tools are yet to be developed and there is no universal theory of entrepreneurial marketing. Despite this fact, entrepreneurs and marketer carry on diversely with regards to “conventional” marketing, which is also a generally accepted notion in many cases. However, some of them are extremely fruitful. The lacuna of unifying theory and common definition makes the term deviant and misaligned. Subsequently, the development of theories is limited and hence distinguishing proof of the concept is also missing. So, it is generally obtained from other sociologies and the development of conceptual models. But, there is a strong necessity to create practical tools, theories and principles to help entrepreneurs, particularly start-up small firms, to survive and flourish in an unpredictable environment. This article shows a concise history of the advancement of EM idea, an investigation of the most well-known definitions, a correlation with “conventional” marketing, and a short review of the most vital ideas developed in Entrepreneurial Marketing.

Keywords Economics, Correlation, Biological system modeling, Sociology, Standards organizations, Entrepreneurship, Psychology