Full article: [[Gruber, M. 2004. Marketing in new ventures: theory & empirical evidence|/static/files/MBI/Module%206/READINGS_Gruber_SBR_2004.pdf]]

''Summary''
New ventures have distinct characteristics that distinguish them from larger, more established organizations:
* Newness of the organization
** Higher failure rates of new firms compared to older ones
** New firms have to define new roles and tasks
*** which is associated with high costs in time, temporary inefficiency, worry, and conflict.
** Need to create exchange relationships
*** though they lack the reputation, legitimacy, and experience of established firms, and must rely on interactions between strangers.
** They do not suffer from “inertia” (or the liability of aging), which is a risk in bigger organizations
* Small size
** Problems in raising capital
** Limit ability to survive in economic downtrend
** Smallness is negatively correlated with survival
** Small firms can decide faster
* Uncertainty, high growth and turbulence
** Profit comes when a new venture capitalizes on an opportunity that is not obvious to others or is inaccessible to others.
** Ventures that create new combinations of resources might replace less efficient or less effective solutions, thereby changing the competitive structure of the industry and causing turbulence

[[Challenges for marketing in new ventures|M6-S1 - Marketing in new ventures: theory empirical evidence - Challenges for marketing]]
[[Stage models|M6-S1 - Marketing in new ventures: theory empirical evidence - Stage models]]
[[Opportunity recognition|M6-S1 - Marketing in new ventures: theory empirical evidence - Opportunity recognition]]
[[Establishing a markting function|M6-S1 - Marketing in new ventures: theory empirical evidence - Establishing a markting function]]
[[Establishing a brand|M6-S1 - Marketing in new ventures: theory empirical evidence - Establishing a brand]]
[[Leveraging marketing resources|M6-S1 - Marketing in new ventures: theory empirical evidence - Leveraging marketing resources]]
[[Market entry strategy|M6-S1 - Marketing in new ventures: theory empirical evidence - Market entry strategy]]
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Sun, 23 May 2010 09:21:41 GMT
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Sun, 23 May 2010 09:21:41 GMT
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dirkjan