The wheel of consumer analysis applied to Colombian entrepreneurs

Santiago García Carvajal and Dennis A. Kopf

International Journal of Business and Globalisation, 2024, vol. 37, issue 2, 196-209

Abstract: This article creates a theoretical framework based on country characteristics, to test whether or not marketing theories and practices developed in advanced economies can be applied in emerging markets. The article then uses this framework to predict whether or not a commonly taught marketing theory, the wheel of consumer analysis (WCA) can be applied to Colombian entrepreneurs. A survey of 111 technology-based entrepreneurs determined their marketing rationale for three elements in the WCA: knowledge acquired from the outside (environment), specialised training (affective and cognitive), and competencies implemented and experienced (behaviour). This research finds that Colombian entrepreneurs are indeed customer focused along each element of the WCA, but that as time passes entrepreneurs appear to have les focus.

Keywords: emerging markets; marketing and entrepreneurship education; marketing strategy; developing countries; wheel of consumer analysis; WCA. (search for similar items in EconPapers)
Date: 2024
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