Marketing Conception as Economic Basis of the Entrepreneurship

Božo Mihailović
(School of Economics, University of Montenegro, Podgorica, Montenegro)

Abstract: Modern needs of the individuals, families, groups, companies and institutions are satisfied by the means of the market. Creating offers for their satisfaction is being carried out by entrepreneurial activity of the individuals and various organizational forms. It is carried out in the form of entrepreneurial process. Entrepreneurship is initiated due to the economic success (profit). An entrepreneurial activity is regarded successful if it complies with the needs of the consumers—it relies on effective demand. That is why marketing conception is fundamental economic base in all phases of the process of entrepreneurship. Marketing researches should be the base for decision making in all phases of the entrepreneurial process. It is wrong to bring the role of marketing to promotion, especially to the “commercial” as it is usually done in practice. This work brings the above mentioned hypothesis into question and it poses a new one, according to which marketing researches are a base for moving to each further phase of the entrepreneurial process.

Key words: marketing; entrepreneurship; marketing research; decision making; process; success

JEL code: M31