The Power of Social Networking Sites as a Marketing Tool in Building Start UPS

This paper aims to develop a conceptual framework based on entrepreneurship theory, which explains how social networking sites affect the various stages of a start-up. Following a literature review exploratory research design, from which elements of Social networking sites are derived, an earlier process model of start-up building speciation is adapted to marketing by young entrepreneurs. A five-stage cycle model of entrepreneurial start-up building is analyzed with the identified elements of Social networking sites consisting of enabling brand equity, consumer insights, tracking competition, revenue generation, and bonding through social media, new product introduction through incremental stealth, and replicating through variation, selection, and retention. Model development would be enhanced through empirical data. Marketers in start-up entrepreneurial firms can follow a few simple rules to enhance market penetration. Resource limitation is something that cannot be avoided. A thoughtful social media strategy can accelerate new product introduction as well growth of existing products. Marketers avoid getting too big too quickly; use furtiveness to drive social media-based bonding. Previous theoretical models at the marketing/entrepreneurship interface have not focused on the unique characteristics of Social networking sites concerning the different stages of start-up building. This study develops the most comprehensive model of entrepreneurial marketing by entrepreneurs to date.