Pradyot Kesari Pradhan, N.M. Leepsa
The Utkal Business Review, December 2015, 29, 1-10
Publication year: 2015

Abstract

Purpose- Marketing is about all about fulfilling the needs of customers. The product can be anything from a pin to a plane. By and large, the competition is tough. In order to survive and sustain- there is a need of continuous strategy adoption and implementation. That’s the truth of marketing. The study explores the role of marketing in entrepreneurship and the relationship between the two. It investigates
the importance and various aspects of the relationship between marketing and entrepreneurship, its relevance for the development of product and service in new firms, and the requisites for a good relationship between two.
Design/methodology/approach-This paper reviews the literature on the basis of secondary data collected from the sources such as articles and research papers from various journals, annual reports, sustainability reports, and newspapers. This is a qualitative study based on content analysis and observations from the data collected from various sources. The study assumes that a better understanding
of the marketing/entrepreneurship relationship should decrease the numbers of both product and firm failures.
Research Implications- The paper fill the existing gaps in the literature by linking the three established concepts ‘Parachute Model’, ‘Entrepreneurship’, and ‘Marketing Strategies’ and establishes a relationship between these interdisciplinary concepts.
Practical Implications- The paper provides practical solutions to entrepreneurs in terms marketing strategies through the parachute model to make their business successful in the corporate world.
Originality- The main contribution of this research is the Parachute Model which is a new term that is taking into aspect different marketing strategies that could be adopted by the entrepreneur for achieving a sustainable business.

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