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Effectual marketing planning for new ventures

Author

Listed:
  • Peter S. Whalen

    (University of Denver)

  • Samuel S. Holloway

    (University of Portland)

Abstract

Current marketing theories largely follow the rational planning school and base marketing planning activities upon a strategic pursuit of an optimal market outcome. While extant theory aligns with the motivations of large corporations in established markets, it offers little benefit to marketers in new ventures. We address this gap directly and propose a new concept of effectual marketing planning, which is based on a logic of control and specifically addresses the challenges facing new ventures. Our construct of effectual marketing planning contains five key elements that increase the value of marketing planning for new ventures. We conclude by offering propositions as to how effectual marketing planning can improve new venture performance.

Suggested Citation

  • Peter S. Whalen & Samuel S. Holloway, 2012. "Effectual marketing planning for new ventures," AMS Review, Springer;Academy of Marketing Science, vol. 2(1), pages 34-43, March.
    • Handle: RePEc:spr:amsrev:v:2:y:2012:i:1:d:10.1007_s13162-012-0026-5
    DOI: 10.1007/s13162-012-0026-5
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    References listed on IDEAS

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    Cited by:

    1. Renton, Michelle & Richard, James E., 2020. "Entrepreneurship in marketing: Socializing partners for brand governance in EM firms," Journal of Business Research, Elsevier, vol. 113(C), pages 180-188.

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