Three issues:
* The ''degree of formalization'' that is required in marketing
** Several researchers argue that the management of innovation, which occurs mostly in uncertain environments, needs ''organic and intensively integrated structures''
** However,  a formalized marketing position supports the product development process, because such a position can collect valuable data on the marketplace and lead users.
** The marketing arm’s interaction with other functional departments, such as R&D and engineering, plays a critical role in the management of innovations.
** It is more favorable for new ventures to adopt a formalized approach to their marketing activities than to rely on an ad hoc organization.
* The ''delegation of marketing responsibilities'' within emerging firms
** Venture teams rarely delegate primary functions (including marketing) at the time of inception
** The marketing function is retained longer than most other functions
** Hesitance in delegating the marketing function is explained by two observations:
*** This function plays a key role in the business development planning of new ventures
*** Many new firms start with only a handful of key customers, the way the marketing function is managed directly influences customer relationship management, and hence is particularly critical for achieving growth.
* Possibilities to outsource marketing activities
** An effective alternative for an internal marketing function is to form network relationships with well-established firms
*** Especially large vendors
** Practice interaction-based marketing, which increases market exposure and certain types of business knowledge

Part of [[M6-S1 - Reading - Gruber, M. 2004. Marketing in new ventures: theory & empirical evidence]]
Fri, 04 Jun 2010 11:18:51 GMT
Fri, 04 Jun 2010 11:18:51 GMT