The objective of this article is to develop a conceptual analysis of entrepreneurship, innovation, and strategic marketing, and examine their critical linkages with each other for the success of an organisation. Understanding of each of these areas and their linkages is important as they collectively provide value to the customer. We first discuss the concept of innovation, its sources and its types such as radical and incremental innovations. The entrepreneurial, technological and strategic concepts behind the central aspect of the innovation concept are then discussed to provide the relevant theoretical background. The ensuing discussion of entrepreneurship and its challenges in the context of dot-com phenomenon helps us examine the critical linkage between innovation and entrepreneurship. We then discuss the marketing concept, its evolution and practices. Finally, a strategic marketing process framework has been proposed as a normative roadmap to be followed by entrepreneurs and managers for successful marketing practice.
Journal of Advances in Management Research – Emerald Publishing
Published: Jun 1, 2005
Keywords: Entrepreneurship; Innovation; Marketing; Strategy