Impact of Marketing Activities in the Early Years of a Firm’s Life on Its Future Performance

Altair Camargo Filho, Candido Vieira Borges Junior

Resumo


The aim of this paper was to analyze in which year, after launching a new venture, marketing activities (dialogue with customers and engaging in promotional efforts) impact its future performance. To do so, logistic regression models were created in which the dependent variables considered as performance were survival and firm profitability. The independent variables considered were dialogue with customers and engaging in promotional efforts. The sample consisted of data collected in a longitudinal survey of 1,214 American nascent entrepreneurs, who formed the Panel Study of Entrepreneurial Dynamics II (PSED II). The beginning of marketing activities in the firm’s first and second years was related to its performance in the second, third and fourth years. The results of this research show that the first year of operation is the optimal time for the entrepreneur to initiate dialogue with customers. They also show that engaging in promotional efforts in the firm’s first year of operation leads to strong performance in subsequent years.


Palavras-chave


Entrepreneurial Process; Future Performance; Marketing activities; PSED

Texto completo:

PDF (English)

Referências


Al–Aali, A., & Teece, D. J. (2014). International Entrepreneurship and the Theory of the (Long–Lived) International Firm: A Capabilities Perspective. Entrepreneurship Theory and Practice, 38(1), 95-116. doi: https://doi.org/10.1111/etap.12077

Bird, B. J., & West, G. P. (1998). Time and entrepreneurship. Entrepreneurship Theory and Practice, 22(2), 5-9. doi: https://doi.org/10.1177/104225879802200201

Blank, S. (2005). The four steps to the epiphany: successful strategies for product that win. Published by K & S Ranch.

Brockman, B. K., Jones, M. A., & Becherer, R. C. (2012). Customer orientation and performance in small firms: Examining the moderating influence of risk‐taking, innovativeness, and opportunity focus. Journal of Small Business Management, 50(3), 429-446. doi: https://doi.org/10.1111/j.1540-627X.2012.00361.x

Brooksbank, R., Kirby, D., & Taylor, D. (2004). Marketing in “survivor” medium-sized British manufacturing firms: 1987-1997. European Business Review, 16(3), 292-306. doi: https://doi.org/10.1108/09555340410536226

Burmester, A. B., Becker, J. U., van Heerde, H. J., & Clement, M. (2015). The impact of pre-and post-launch publicity and advertising on new product sales. International Journal of Research in Marketing, 32(4), 408-417. doi: https://doi.org/10.1016/j.ijresmar.2015.05.005

Calantone, R. J., Randhawa, P., & Voorhees, C. M. (2014). Breakeven time on new product launches: An investigation of the drivers and impact on firm performance. Journal of Product Innovation Management, 31, 94-104. doi: https://doi.org/10.1111/jpim.12194

Carson, D. J. (1985). The evolution of marketing in small firms. European Journal of Marketing, 19(5), 7-16. doi: https://doi.org/10.1108/EUM0000000004739

Chandler, G. N., DeTienne, D. R., McKelvie, A., & Mumford, T. V. (2011). Causation and effectuation processes: A validation study. Journal of Business Venturing, 26(3), 375-390. doi: https://doi.org/10.1016/j.jbusvent.2009.10.006

Clarysse, B., & Moray, N. (2004). A process study of entrepreneurial team formation: the case of a research-based spin-off. Journal of Business Venturing, 19(1), 55-79. doi:

Coleman, S., & Kariv, D. (2013). Gender, performance and financial strategy: A dynamic capabilities perspective. Journal of Developmental Entrepreneurship, 18(03), 1350020. doi: https://doi.org/10.1016/S0883-9026(02)00113-1

Coviello, N. E., Brodie, R. J., & Munro, H. J. (2000). An investigation of marketing practice by firm size. Journal of Business Venturing, 15(5-6), 523-545. doi:

Dodge, H. R., & Robbins, J. E. (1992). An empirical investigation of the organizational life cycle. Journal of Small Business Management, 30(1), 27. doi: https://doi.org/10.1016/S0883-9026(98)00035-4

Eggers, F., Hansen, D. J., & Davis, A. E. (2012). Examining the relationship between customer and entrepreneurial orientation on nascent firms’ marketing strategy. International Entrepreneurship and Management Journal, 8(2), 203-222. doi: https://doi.org/10.1007/s11365-011-0173-4

Eisenhardt, K. M. (2013). Top management teams and the performance of entrepreneurial firms. Small Business Economics, 40(4), 805-816. doi: https://doi.org/10.1007/s11187-013-9473-0

Fayolle, A., & Liñán, F. (2014). The future of research on entrepreneurial intentions. Journal of Business Research, 67(5), 663-666. doi: https://doi.org/10.1016/j.jbusres.2013.11.024

Gruber, M. (2004). Marketing in new ventures: theory and empirical evidence. Schmalenbach business review, 56(2), 164-199. doi: https://doi.org/10.1007/BF03396691

Gupta, V. K., Javadian, G., & Jalili, N. (2014). Role of entrepreneur gender and management style in influencing perceptions and behaviors of new recruits: Evidence from the Islamic Republic of Iran. Journal of International Entrepreneurship, 12(1), 85-109. doi: https://doi.org/10.1007/s10843-014-0120-x

Hao, S., & Song, M. (2016). Technology-driven strategy and firm performance: Are strategic capabilities missing links? Journal of Business Research, 69(2), 751-759. doi: https://doi.org/10.1016/j.jbusres.2015.07.043

Hopp, C. (2012a). The acquisition and utilization of market information in new venture development and the contingent nature of new venture organizing activities. Journal of Strategic Marketing, 20(6), 553-567. doi: https://doi.org/10.1080/0965254X.2012.711344

Hopp, C. (2012b). For better or for worse?—Nonprofit experience and the performance of nascent entrepreneurs. Nonprofit and Voluntary Sector Quarterly, 41(6), 1251-1268. doi: https://doi.org/10.1177/0899764012449517

Kelley, D. J., Singer, S., & Herrington, M. (2012). Global entrepreneurship monitor 2011 global report: Global Entrepreneurship Research Association, London Business School.

Korsgaard, S., Berglund, H., Thrane, C., & Blenker, P. (2016). A tale of two Kirzners: Time, uncertainty, and the “nature” of opportunities. Entrepreneurship Theory and Practice, 40(4), 867-889. doi: https://doi.org/10.1111/etap.12151

Lado, N., Duque, L. C., & Alvarez Bassi, D. (2013). Current Marketing Practices and Market Orientation in the Context of an Emerging Economy: The Case of U ruguay. Journal of Small Business Management, 51(4), 602-616. doi: https://doi.org/10.1111/jsbm.12007

Lee, I. H., & Marvel, M. R. (2014). Revisiting the entrepreneur gender–performance relationship: a firm perspective. Small Business Economics, 42(4), 769-786. doi: https://doi.org/10.1007/s11187-013-9497-5

Lévesque, M., & Schade, C. (2005). Intuitive optimizing: Experimental findings on time allocation decisions with newly formed ventures. Journal of Business Venturing, 20(3), 313-342. doi: https://doi.org/10.1016/j.jbusvent.2004.01.005

Lewis, Virginia L. and Churchill, Neil C. (1983). The Five Stages of Small Business Growth. Harvard Business Review, Vol. 61, Issue 3, p. 30-50 1983. Available at SSRN: https://ssrn.com/abstract=1504517

Marion, T. J., & Meyer, M. H. (2011). Applying industrial design and cost engineering to new product development in early‐stage firms. Journal of Product Innovation Management, 28(5), 773-786. doi: https://doi.org/10.1111/j.1540-5885.2011.00839.x

Mathias, B. D., Williams, D. W., & Smith, A. R. (2015). Entrepreneurial inception: The role of imprinting in entrepreneurial action. Journal of Business Venturing, 30(1), 11-28. doi: https://doi.org/10.1016/j.jbusvent.2014.07.004

Miller, D., & Friesen, P. H. (1984). A longitudinal study of the corporate life cycle. Management science, 30(10), 1161-1183. doi: https://doi.org/10.1287/mnsc.30.10.1161

Morrish, S. C. (2011). Entrepreneurial marketing: a strategy for the twenty-first century? Journal of Research in Marketing and Entrepreneurship, 13(2), 110-119. doi: https://doi.org/10.1108/14715201111176390

Patel, P. C., & Jayaram, J. (2014). The antecedents and consequences of product variety in new ventures: An empirical study. Journal of Operations Management, 32(1-2), 34-50. doi: https://doi.org/10.1016/j.jom.2013.07.002

Porter, M. E. (1989). From competitive advantage to corporate strategy Readings in strategic management (pp. 234-255): Springer.

Reynolds, P., Bosma, N., Autio, E., Hunt, S., De Bono, N., Servais, I., . . . Chin, N. (2005). Global entrepreneurship monitor: Data collection design and implementation 1998–2003. Small Business Economics, 24(3), 205-231. doi: https://doi.org/10.1007/s11187-005-1980-1

Ries, E. (2011). The lean startup: How today's entrepreneurs use continuous innovation to create radically successful businesses: Crown Books.

Sarasvathy, S. D. (2001). Causation and effectuation: Toward a theoretical shift from economic inevitability to entrepreneurial contingency. Academy of Management Review, 26(2), 243-263. doi: https://doi.org/10.5465/amr.2001.4378020

Simpson, M., Padmore, J., & Newman, N. (2012). Towards a new model of success and performance in SMEs. International journal of entrepreneurial Behavior & Research, 18(3), 264-285. doi: https://doi.org/10.1108/13552551211227675

Sok, P., O’Cass, A., & Sok, K. M. (2013). Achieving superior SME performance: Overarching role of marketing, innovation, and learning capabilities. Australasian Marketing Journal (AMJ), 21(3), 161-167. doi: https://doi.org/10.1016/j.ausmj.2013.04.001

Steffens, P., Terjesen, S., & Davidsson, P. (2012). Birds of a feather get lost together: new venture team composition and performance. Small Business Economics, 39(3), 727-743. doi: https://doi.org/10.1007/s11187-011-9358-z

Stokes, D. (2000). Putting entrepreneurship into marketing: the processes of entrepreneurial marketing. Journal of Research in Marketing and Entrepreneurship, 2(1), 1-16. doi: https://doi.org/10.1108/14715200080001536

Swinney, J. L., Runyan, R. C., & Huddleston, P. (2006). Differences in reported firm performance by gender: does industry matter? Journal of Developmental Entrepreneurship, 11(02), 99-115. doi: https://doi.org/10.1142/S1084946706000350

Trimi, S., & Berbegal-Mirabent, J. (2012). Business model innovation in entrepreneurship. International Entrepreneurship and Management Journal, 8(4), 449-465. doi: https://doi.org/10.1007/s11365-012-0234-3

Ucbasaran, D., Westhead, P., & Wright, M. (2008). Opportunity identification and pursuit: does an entrepreneur’s human capital matter? Small Business Economics, 30(2), 153-173. doi: https://doi.org/10.1007/s11187-006-9020-3

Watson, J. (2007). Modeling the relationship between networking and firm performance. Journal of Business Venturing, 22(6), 852-874. doi: https://doi.org/10.1016/j.jbusvent.2006.08.001

Wennberg, K., Delmar, F., & McKelvie, A. (2016). Variable risk preferences in new firm growth and survival. Journal of Business Venturing, 31(4), 408-427. doi: https://doi.org/10.1016/j.jbusvent.2016.05.001

Wu, B., & Knott, A. M. (2006). Entrepreneurial risk and market entry. Management science, 52(9), 1315-1330. doi: https://doi.org/10.1287/mnsc.1050.0543

Zhou, W., & Rosini, E. (2015). Entrepreneurial team diversity and performance: Toward an integrated model. Entrepreneurship Research Journal, 5(1), 31-60. doi: https://doi.org/10.1515/erj-2014-0005




DOI: http://dx.doi.org/10.14211/regepe.v8i1.1263

Apontamentos

  • Não há apontamentos.




Rev. Empreendedorismo Gest. Pequenas Empres., São Paulo, SP, Brasil. e-ISSN: 2316-2058    

Prefixo do DOI: 10.14211  Classificação Qualis 2016: B1

Desenvolvido por:

Logomarca da Lepidus Tecnologia