Market Orientation in Digital Entrepreneurship: Advantages and Challenges in a Web 2.0 Networked World

Abstract

Strong market orientation is essential to firm success. In the diverse and dynamic digital environment, a strong market orientation philosophy is even more important to the digital entrepreneur. We explore the advantages and challenges that the networked world offers the market-oriented digital entrepreneur. In particular, we examine the role of electronic community and communication and how successful digital entrepreneurs takes advantage of electronic community technologies to facilitate more effective communication with customers, partners, the digital organization, and in communicating the "product" of market orientation to the marketplace. Propositions concerning market orientation and digital entrepreneurship are introduced, and future research directions are discussed.

The Characteristics of Digital Entrepreneurship and Digital Transformation: A Systematic Literature Review

“…User acceptance of technologies and the influences on user attitudes, customer engagement and business operations have been widely researched, and is a key characteristic enabling digital entrepreneurship. [20,37] Business intelligence can facilitate entrepreneurship and transformation [43] Disruption comes from new market creation [14,15,17,22,28,33,34,38] Disruption comes from existing markets [17,20,25,28,37,38,40,44] Production competence comes from technology [25,34,45,46] Costs of technology [22,37,45,46] Technology adoption [25,34,45,46] Technology improves compatibility and working between organisations [9,35] Understanding digitisation is critical [3,21,22,24,25,39,40,44] Digitisation allows for virtual teamwork [21,35] Knowledge management involves the creation, control and use of all forms of knowledge throughout an organisation. This is knowledge of systems, customers, employees, strategies, threats, opportunities, and any other fo...…”

Exploring interaction differences in Microblogging Word of Mouth between entrepreneurial and conventional service providers

“…Digital and online communication technologies, such as social networking sites (e.g. Twitter), play an important and recurring role in leveraging or exploiting business opportunities as they facilitate the establishment of a dialogue between the firm and its customers (Hair et al 2012). However, while having the same resources and technological opportunities in terms of Twitter and MWOM utilization, conventional and entrepreneurial firms may differ in how they market or signal their offerings (Kirmani & Rao 2000).…”

Present Scenario of Digital Product Presentations for Enhancing Market Share of Products

“…No doubt, Digital Product Presentation (during instances when services and goods are digitized) aids in reducing the complexities involved in creating separate workgroups. It further aids in controlling costs [13].…”