路海洋翻译外文1.docx
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路海洋翻译外文1.docx
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路海洋翻译外文1
MarketingMixPracticeasaDeterminantof
EntrepreneurialBusinessPerformance
Aremu,MukailaAyanda
DepartmentofBusinessAdministration
FacultyofBusinessandSocialSciences,UniversityofIlorin
P.M.B.1515,Ilorin,KwaraState,Nigeria
Bamiduro,JosephAdefemi
DepartmentofBusinessAdministration
FacultyofBusinessandSocialSciences,UniversityofIlorin
P.M.B.1515,Ilorin,KwaraState,Nigeria
Abstract
Marketingmixpracticeisincreasinglybeenadoptedinvirtuallyallthesectorsoftheeconomy.Marketingmixpracticehasbeenamajordeterminantofanyorganization’sshortrunandlongrunsuccessanddifferentialadvantageinanymarketingenvironment.Theneedformarketingpracticebyentrepreneurcannotbeoveremphasized.MarketingmixpracticeisparticularlyimportantinentrepreneurialbusinessinNigeriatodaybecauseofthevolatility,highlycompetitiveandtheturbulentnatureoftheNigerianmarketingenvironment.
Therefore,thepaperattemptstousemarketingmixvariablesasameansofenhancingentrepreneurialbusinessperformance.Itsuggestedthatadoptionofmarketingmixbyentrepreneurwillenablethemtohavecompetitiveadvantageandwillserveasapanaceatotheproblemsencounteredinthemarketingoftheirentrepreneurialbusiness.
Keywords:
Marketing,Marketingmix,Entrepreneurial,BusinessandPerformance
1.Introduction
Theevolutionofdifferentmarketingpracticeswithdifferentproducesandincreasedrateofcompetitionbringsabouttheneedtodevelopmarketingapproach,whichwillserveasaplatformfordevelopmentandsurvivaloftheentrepreneurialbusinessinboththeshortandlongrun.ThestakeholdersinentrepreneurialbusinessmustplaneffectivelyandefficientlytoensurethesteadygrowthoftheirbusinessinthefaceofthedepressionbeingfacedindevelopingcountriessuchasNigeria.Marketingaffectsthesuccessofentrepreneurialventures,andentrepreneurialapproachesaffectthesuccessofmarketingefforts,itwouldseemvitalformarketerstounderstandentrepreneurship.Viewsofmarketingasadynamic,sociallyembeddedprocesscanbelinkedwithcomplexitytheory.Ofthe12mainschoolsofmarketingthought(Shethetal.,1988),thetwomostinfluentialarethemanagerialandtheexchangeschools.Incombination,theymakeupacommondefinitionofmarketingmanagement"theprocessofplanningandexecutingtheconception,pricing,promotionanddistributionofgoods,ideasandservicestocreateexchangesthatsatisfyindividualandorganizationalgoals"(Kotler,2000).Thisdefinitioncouldrestrictattentiontoexchangesas"one-off"transactionsthatdonotinfluenceother,latertransactions.However,anexchangecanbeembeddedinaseriesofexchangeswithinanongoingrelationshipovertime.Thisviewofmarketingemphasisesthe"socialembbeddedness"ofthepartiesinvolvedinexchanges(Brownlieetal.,1999;Granovetter,1985)andrecognisesthatmarketingisaboutinterrelatedtransactionsratherthanaone-offtransaction.Thatis,"theeffectivemarketingofapostmoderneraistonotacceptandexploitconsumersintheircontemporaryindividualisations...Ratherthefutureofmarketingisinofferingarenewedsenseofcommunity"(Brownlieetal.,1999,p.62).Thissenseofcommunitymeansthatmarketsconsistof"sticky",dynamicinteractionsamongtheindividualpartsofasystem,thatis,transactionsarecontingentononeanother,withearlierexchangeshavingatendencytoinfluencelaterones.
Theinterfacebetweenmarketingandentrepreneurshiphasreceivedconsiderableattentioninrecentyears(Gardner1991,Hills1991).Ithasbeenthesubjectofnumeroussymposia,researchtracksandspecialsessionsatinternationalconferences,publishedarticlesandspecialissuesofmajorjournals.Further,theAmericanMarketingAssociationhasestablishedanofficialinterestgroupdevotedtoexploringtheinterface,whilethepublicationofajournalwhosesoleeditorialfocusismarketingandentrepreneurshiphasbeenannounced.
Marketingisuniquelyequippedandindeedshouldfeeluniquelyresponsibleforanalyzingenvironmentalevolutionandtranslatingitsobservationsintorecommendationsfortheredesignofthecorporateresourcebaseanditsproduct-marketportfolio".Inthisview,marketingisaboundaryfunctioninorganizations,andmustbebothopportunity-drivenandflexibleinordertoaddressturbulenceintheexternalenvironment(Murray1981).Theobjectiveofthispaperistoexplorethemarketingmixpracticeasadeterminantofentrepreneurshipbusinessperformance.
2.LiteratureReview
ThemarketingpracticehasawayoflifemustbesuitableandpracticableandaddressingtheneedoftheentrepreneurialbusinessnowandinthenearestfutureinNigeria.Thisstrategyfollowsapatternastheownerofentrepreneurialbusinessdeemsitfit.Hence,theentrepreneurialbusinessownersaresaddledwiththeresponsibilityofseeingtheirplanworkingeffectively.Obviouslyithasbeenobservedthatmostentrepreneurialbusinessownersdonotoperatewithanymarketingpractices,thosefewonesthathaveknowledgeaboutmarketingpracticedonotfollowthemproperlyandforanyentrepreneurialbusinesstobesuccessfulthereisneedtohavegoodmarketingpractice.
Theroleofmarketingintheentrepreneurialprocessingeneralhasbecomepartoftheresearchagendainvestigatingcommonaltiesbetweenmarketingandentrepreneurship(HillandLaforge,1992;Carsonetal.,1995).However,bothstrandsoftheliteraturehavelimitationsandweaknessesinexplaininghowmarketingispracticedentrepreneurs.Theprocessoflearninginthemarketandhowmarketingstrategiesareformulatedandconceivedbyarenotunderstoodinmostoftheliteratureexamined.Theterm"entrepreneurship"hasresistedprecisedefinitionforover200yearsHerbertandLink(1988).Thetraditionalemphasiswasontheeffortsofanindividualwhogoesagainsttheoddsintranslatingavisionintoasuccessfulbusinessenterprise(Collins,andMoore,1964).Morerecently,however,entrepreneurshiphasbeenconceptualizedasaprocesswhichcanoccurinorganizationsofallsizesandtypesandwhichisdistinctfrom,butdependenton,specificindividuals(Kao,1989).Theyservedassystemforattainmentofnationalobjectiveintermsofemploymentgenerationatlowinvestmentcostandalsothedevelopmentofentrepreneurialcapabilitiesandindigenoustechnology.Italsoreducetheflowofpeoplefromruralareatourbanarea,henceforth,itcanbeeasilyestablishedbytherelativelylessskilledlabourforceofadevelopingcountry(Aremu,2011).
Approachedinthismanner,entrepreneurshipcanbedefinedastheprocessofcreatingvaluebybringingtogetherauniquepackageofresourcestoexploitanopportunity(Stevenson,RobertsandGrousbeck1989).Thisprocessrequiresbothanentrepreneurialeventandanentrepreneurialagent.Theeventreferstotheconceptualizationandimplementationofanewventure.Theagentisanindividualorgroupthatassumespersonalresponsibilityforbringingtheeventtofruition.
Theentrepreneurialprocesshasattitudinalandbehaviouralcomponents(Bird1988).Attitudinally,itreferstothewillingnessofanindividualororganizationtoembracenewopportunitiesandtakeresponsibilityforeffectingcreativechange(MillerandFriesen1983).Thiswillingnessissometimesreferredtoasan"entrepreneurialorientation".Behaviourally,itincludesthesetofactivitiesrequiredtoevaluateanopportunity,defineabusinessconcept,assessandacquirethenecessaryresourcesandthentooperateandharvestaventureStevenson,RobertsandGrousbeck(1989).
3.EntrepreneurandMarketing
Marketingpracticeisalsoaprocessofdevelopingandmaintainingastrategicmarketingplanbetweentheorganizationalgoalsandcapacitiesandchangingmarketingopportunities,itreliesondevelopingclearentrepreneurbusinessenterprisesobjectivesinordertoincreasethelevelofproductivity(Aremu2006).Thereisnoconsensusastohowmarketingknowledgeshouldbedefinedandmeasured.Ithasbeenconceptualizedas"marketinformation"whichneedstobeprocessedthroughknowledgeacquisition,informationdistribution,informationinterpretationandorganizationalmemory(Huber,1991;MoormanandMiner,1997,).Attemptingtofocusmorecloselyonmarketingactivities,somemarketingscholarshaveapproachedmarketingknowledgeas"marketorientation"(JaworskiandKohli,1993;SlaterandNarver,1995;Sinkulaetal.,1997);howeverthatalsodepictsthegenerationanddisseminationofmarketinformation.LiandCalantone(1998)operationalized"marketknowledgecompetence",whichencompassedcustomerknowledgeprocess,marketing-R&Dinterfaceandcompetitorknowledge.Theseapproachesfocushoweverontheprocessesofgeneratingandusingmarketinformation:
aconstructthatcantaphowmuchisknowninmarketing(nothowmuchisdone)isstillneeded.
Thus,webeginbyspecifyingwhatmarketingmeansbyturningtoSrivastavaetal.(1999)andwhatknowledgemeansbyturningtoBohn(1994).
Srivastavaetal.(1999)proposedaframeworkthatredefinesmarketingasaphenomenonembeddedinthreecoremarketingprocesses:
productdevelopmentmanagement(PDM),supplychainmanagement(SCM)andcustomerrelationshipmanagement(CRM).Theseprocessescreatecustomervaluethrough,respectively,thedevelopmentofnewcustomersolutions,theenhancementofinputacquisitionandoutputtransformation,andthecreationofrelationshipswithmarketentities.Thethreeprocessesthusencompassthefundamentalmarketingtasksthatarecriticaltoattractingandretainingcustomers(whicharethecoreobjectivesofmarketinginmostbusinessorganizations).Thus,marke
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