Affordable Marketing - Closer than You Think

Abstract: Purpose – This paper aims to improve the understanding how entrepreneurs practice inexpensive marketing by utilising human and social capital instead of financial resources. Methodology – This study was conducted following a qualitative methodology. The data was collected in seven semi-structured interviews with entrepreneurs who have made use of inexpensive marketing concepts and methods. We analysed the gathered data about practical entrepreneurial marketing approaches by investigating and discussing them with extant theory backed up by a content analysis. Findings – The results of our study suggest that entrepreneurs, in general, aim to avoid monetary investments by utilising their knowledge, capabilities and experiences as well as their social network and status in certain communities when practising inexpensive marketing. There seem to be hardly any boundaries in cases where an entrepreneur possesses an appropriately developed personality and certain valuable traits. While human capital particularly aids the approach, social capital provides entrepreneurs with opportunities and inspiration. Research limitations – Apart from geographical limitations, this study faces potential bias due to the diversity of the interview samples being limited to entrepreneurs. Additionally, the long-term effects of conducted marketing methods are unclear. Furthermore, as a qualitative study with a relatively small sample size, it provides a descriptive rather than declarative perspective. Practical implications – This paper illustrates practical approaches to inexpensive marketing concepts and can be used as a supportive script for entrepreneurs who aim to reduce the pressure on their budget. All presented tactics should be seen in the particular context they were applied, including industry and entrepreneurs background.