An Exploratory Study on Successful Factors of Entrepreneurial Marketing in Start-up

스타트업의 앙트레프레니얼 마케팅 성공요인에 관한 탐색적 연구

  • Byun, Chung Gyu (Department of Business, Gyeongnam National University of Science and Technology) ;
  • Ha, Hwan Ho (Department of Business, Gyeongnam National University of Science and Technology)
  • 변충규 (경남과학기술대학교 경영학과) ;
  • 하환호 (경남과학기술대학교 경영학과)
  • Received : 2020.03.10
  • Accepted : 2020.04.23
  • Published : 2020.04.30


This study conducted an exploratory study to derive the success factors of entrepreneurial marketing for startups. Through Delphi analysis, we derived the items of proactive orientation, risk management, innovation, opportunity driven, resource leveraging, customer intensity, value creation, price setting, marketing communication, channel management, product development, sales and marketing information management. The importance and execution of success factors were measured through IPA analysis. The first quadrant(keep up the good work) has proactive orientation, risk management, resource leveraging, customer intensity. The second quadrant(concentrate here) has innovation. The third quadrant(low priority) has channel management, sales, marketing information management. The fourth quadrant(possible overkill) has prices setting, product development. These results showed that the success factors of startup's entrepreneurial marketing were proactive orientation, risk management, innovation, opportunity driven, resource leveraging, customer intensity and value creation.


  1. Becherer, R. C., Helms, M. M., & McDonald, J. P.(2012). The Effect of Entrepreneurial Marketing on Outcome Goals in SMEs. New England Journal of Entrepreneurship, 15(1/2), 1-7.
  2. Bjerke, B., & Hultman, C. M.(2002). Entrepreneurial Marketing: The Growth of Small Firms in the New Economic Era. Cheltenham, U.K.; Edward Elgar.
  3. Bocconcelli, R., Cioppi, M., Fortezza, F., Francioni, B., Pagano, A., Savelli, E., & Splendiani, S.(2018). SMEs and Marketing: A Systematic Literature Review. International Journal of Management Review, 20(2), 227-254.
  4. Backbro, J., & Nystrom, H.(2006). Entrepreneurial Marketing: Innovative Value Creation. Master Thesis, Jonkoping.
  5. Carson, D., & Coviello, N.(1996). Qualitative Research Issues at the Marketing/entrepreneurship Interface. Marketing Intelligence & Planning, 14(6), 51-58.
  6. Choi, T. M., & Cho, S. E.(2011). An Exploratory Study on the Characteristics of Entrepreneurial Marketing and Performance in Technology Based Start-up Companies. Journal of the Korean Entrepreneurship Society, 6(4), 125-153.
  7. Collinson, E., & Shaw, F.(2001). Entrepreneurial Marketing: A Historical Perspective on Development and Practice. Management Decision, 39(9), 761-766.
  8. Constantinides, E.(2006). The Marketing Mix Revisited: Towards the 21st Century Marketing. Journal of Marketing Management, 22(3/4), 407-438.
  9. Crane, F. G.(2013). Marketing for Entrepreneurs Concepts and Applications for New Ventures. 2nd, London: Sage.
  10. Crick, J. M.(2019). Incorporating Coopetition into the Entrepreneurial Marketing Literature. Journal of Research in Marketing and Entrepreneurship, 21(1), 19-36.
  11. Fiore, A. M., Niehm, L. S., Hurst, J. L., Son, J., & Sadachar, A.(2013). Entrepreneurial Marketing: Scale Validation with Small, Independently-Owned Businesses. Journal of Marketing Development and Competitiveness, 7(4), 63-86.
  12. Gruber, M.(2004). Marketing in New Ventures: Theory & Empirical Evidence. Schmalenbach Business Review, 56(2), 164-199.
  13. Hallback, J., & Gabrielsson, P.(2013). Entrepreneurial Marketing Strategies During the Growth of International New Ventures Originating in Small and Open Economies. International Business Review, 22(6), 1008-1020.
  14. Hamali, S.(2015). The Effect of Entrepreneurial Marketing on Business Performance: Small Garment Industry in Bandung City, Indonesia. Developing Country Studies, 5(1), 1-7.
  15. Hammitt, W. E., Bixler, R. D., & Noe, F. P.(1996). Going beyond Importance-performance Analysis to Analyze the Observance-influence of Park Impacts. Journal of Park and Recreation Administration, 14(1), 45-62.
  16. Hill, J.(2001). A Multidimensional Study of the Key Determinants of Effective SME Marketing Activity: Part 1. International Journal of Entrepreneurial Behavior & Research, 7(5), 171-204.
  17. Hills G. E., & Hultman, C. M.(2011). Academic Roots: The Past and Present of Entrepreneurial Marketing. Journal of Small Business & Entrepreneurship, 24(1), 1-10.
  18. Hills, G. E., Hultman, C. M., & Miles, M. P.(2008). The Evolution and Development of Entrepreneurial Marketing. Journal of Small Business Management, 46(1), 99-112.
  19. Ionita, D.(2012). Entrepreneurial Marketing: A New Approach for Challenging Times. Management & Marketing, 79(1), 131-150.
  20. Jeon, H. Y.(2016). Current Status and Implications of Domestic and Foreign Start-ups. VIP Report, 654, 1-17.
  21. Jeon, I. O., & An, U. S.(2016). The Effect of Marketing Characteristic on Business Performance. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 11(3), 97-109.
  22. Kim, G. H.(2017). A Study on the Current Status of Korean Corporate Ecosystem through International Comparisons. TRADE FOCUS, 37, 1-15.
  23. Kim, H. S.(2016). Service Design Research on Youth Start-up Support Space. Journal of Korea Design Forum, 51, 105-113.
  24. Kim, J. S., Choi, J. I., Im, C. J., Ko. H. J., & Lee, Y. J.(2019). Innovative Start-up Business. Seoul; Hongneung Publishing Company.
  25. Ko, Y. H., & Lee, H. S.(2016). Interrelation Between Start-up Characteristic and Venture Capital Investment Portfolio for Strategic. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 11(2), 63-73.
  26. Kolabi, A. M., Hosseini, H. K., Mehrabi, R., & Salamzadeh, A.(2011). Developing Entrepreneurial Marketing Mix: Case Study of Entrepreneurial Food Enterprises in Iran. Journal of Knowledge Management, Economics and Information Technology, 5, 1-17.
  27. KOTRA(2015). Policies for Developing Start-ups in Major Countries and Challenges for Korea. Global Market Report, 15(57),
  28. Kraus, S., Harms, R., & Fink, M.(2009). Entrepreneurial Marketing: Moving beyond Marketing in New Ventures. International Journal of Entrepreneurship and Innovation Management, 11(1), 1-20.
  29. Kwon, S. J.(2017). The Effect of Product Innovation, Process Innovation, and Marketing Innovation on Innovation Capability and Knowledge Sharing of Ventures: Focusing on the Moderating Effect of Business Area. Journal of the Korean Entrepreneurship Society, 12(4), 97-122.
  30. Lee, H. H., Hwang, B. W., & Gong, C. H.(2017). A Study on the Factors that Determine the Initial Success of Start-up. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 12(1), 1-13.
  31. Lee, S. H., & Noh, S. H.(2014). A Study on the Success Factors of ICT Convergence Type-specific Start-up Enterprise: Mainly the Case Study. Journal of Digital Convergence, 12(12), 203-215.
  32. Martilla, J. A., & James, J. C.(1977). Importance-performance Analysis. Journal of Marketing, 41(1), 77-79.
  33. Miles, M. P., & Darroch, J.(2006). Large Firms, Entrepreneurial Marketing Process, and The Cycle of Competitive Advantage. European Journal of Marketing, 40(5/6), 485-501.
  34. Moogk, D. R.(2012). Minimum Viable Product & the Importance of Experimentation in Technology Startups. Technology Innovation Management Review, 2(3), 23-26.
  35. Morris, M. H., Schindehutte, M., & LaForge, R. W.(2002). Entrepreneurial Marketing: A Construct for Integrating Emerging Entrepreneurship and Marketing Perspectives. Journal of Marketing Theory and Practice, 10(4), 1-19.
  36. Morrish, S. C.(2011). Entrepreneurial Marketing: A Strategy for the Twenty-first Century?. Journal of Research in Marketing and Entrepreneurship, 13(2), 110-119.
  37. Morrish, S. C., Miles, M. P., & Deacon, J. H.(2010). Entrepreneurial Marketing: Acknowledging the Entrepreneur and Customer-centric Interrelationship. Journal of Strategic Marketing, 18(4), 303-316.
  38. Mort, G. S., Weerawardena, J., & Liesch, P.(2012). Advancing Entrepreneurial Marketing: Evidence from Born Global Firms. European Journal of Marketing, 46(4), 542-561.
  39. Park, J. Y., Choi, S. S., & Hong, S. K.(2011). The Effect of Market Orientation, Marketing Capability on Competitive Advantage and Performance in SME. Korean Journal of Business Administration, 24(2), 1115-1137.
  40. Park, M. H., Lee, S. Y., Choe, M. K., & Kwon, U.(2007). An Exploratory Study on Ventures' Marketing Capability and Business Performance. Journal of Marketing Studies, 15(2), 85-114.
  41. Rezvani, M., & Khazaei, M.(2014). Evaluation of Entrepreneurial Marketing Dimensions According to Characteristics of Institutions: Institutions Age and Size. International Journal of Basic Sciences & Applied Research, 3(4), 207-213.
  42. Sadiku-Dushi, N., Dana, L., & Ramadani, V.(2019). Entrepreneurial Marketing Dimensions and SMEs Performance. Journal of Business Research, 100, 86-99.
  43. Sahid, S., & Hamid, S. A.(2019). How to Strategize SMEs Capabilities via Entrepreneurial Marketing Approach. Academy of Marketing Studies Journal, 23(1), 1-5.
  44. Schindehutte, M., Morris, M. H., & Kuratko, D. F.(2000). Triggering Events, Corporate Entrepreneurship and The Marketing Function. Journal of Marketing Theory and Practice, 8(2), 18-30.
  45. Shane, S., & Venkataraman, S.(2000). The Promise of Entrepreneurship as a Field of Research. Academy of Management Review, 25(1), 217-226.
  46. Stokes, D.(2000). Putting Entrepreneurship into Marketing: The Process of Entrepreneurial Marketing. Journal of Research in Marketing & Entrepreneurship, 2(1), 1-16.
  47. Whalen, P., Uslay, C., Pascal, V. J., Omura, G., McAuley, A., Kasouf, C. J., & Gilmore, A.(2016). Anatomy of Competitive Advantage: Towards a Contingency Theory of Entrepreneurial Marketing. Journal of Strategic Marketing, 24(1), 5-19.
  48. Yang, M., & Gabrielsson, P.(2017). Entrepreneurial Marketing of International High-tech Business-to-Business New Ventures: A Decision-making Process Perspective. Industrial Marketing Management, 64, 147-160.
  49. Yi, H. T., Lee, H. G., & Ji, S. G.(2014). SMEs Marketing Capability: What It is and Why It Matters?. Journal of Marketing Management Research, 19(3), 117-138.
  50. Yu, S. K.(2015). SME Marketing. Seoul: Booknet.