Developing an Innovative Marketing Model (eBook)

Throughout the world, approximately 100 million new businesses start every year, 305 companies were established by 472 million entrepreneurs. Countries participating in the Global Entrepreneurship Monitor (GEM) comprise about 300 million people trying to establish approximately 150 million businesses. About 50 million new companies start every year. However, statistical data and research have shown that 50% of businesses with employees survive five years and 44% of businesses in the U.S.A. fail during their first five years. Statistical studies have shown that companies that have survived for more than five years act and relate to customer service and marketing as if they had established their businesses the day before. Each one has a different and changing marketing strategy according to market dynamics, but they all invest in digital marketing and exploit thefree resources available to them on social networks. Entrepreneurs lead companies and always find solutions to cope with challenges. This study identified the most important factors which are most influential on business success and examines how and to what extent each relates to business success so that company managers can wisely invest resources at their disposal and increase the chances of business success. With the research aim to develop an innovative marketing model guiding those entrepreneurs and company leaders to invest resources available to them in each component according to its level of influence on business success and thus increase companies’ chances of business success.