5.1. Marketing literature has emphasized the factors hampering marketing planning and strategizing in small firms, in particular resource scarcity, lack of specialized structures and competences. Triggering events in corporate entrepreneurship are explored, with particular attention to the ways in which triggers impact upon and are impacted by the marketing function, types of triggers, key ways for classifying them and how the role of marketing might vary depending upon the type or category of trigger. Results are reported from a survey of marketing managers regarding their perceptions of the entrepreneurship construct, its overall importance in their firms, the marketing management areas where entrepreneurship is most critical, and the major obstacles to encouraging entrepreneurship within the marketing function. Understanding the role of marketing in new venture creation and in its management has an important role to play in emerging competitive markets or in early start-ups relevant for 21 st century business initiatives. Role of Entrepreneurship in Economic Development! This module will provide an underpinning and a critical understanding of marketing concepts and theories, in relation to entrepreneurship and innovation. In the U.S, 99.7% of all companies are small businesses and they employ 50% of all non-governmental workers. They are mostly barely profitable, but they make profits only to make a living and support their families. Larger businesses will dedicate specific staff and departments for the purpose of marketing. Marketing is an important element in a successful of entrepreneurship development. Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business.The people who create these businesses are called entrepreneurs.. It provides civilization with an enormous amount of goods … The Role of the Entrepreneur ... economists viewed entrepreneurship as a small part of economic activity. Entrepreneurship has been described as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit." Marketing is perhaps the most important activity in a business because it has a direct effect on profitability and sales. Small business entrepreneurship. Abstract This is a conceptual paper that seeks to explore the role of entrepreneurial marketing in promoting entrepreneurship in tertiary education. 9 Importance of Entrepreneurship Entrepreneurship is the dynamic process of creating incremental wealth and innovating things of value that have a bearing on the welfare of an entrepreneur. In today’s world, the majority of businesses are still small businesses. Why Marketing Is Critical for Entrepreneurs Marketing is a vital process for entrepreneurs because no venture can become established and grow without a customer market. Nevertheless, economic development essentially means a process of upward change whereby the real per capita income of a country increases over a long period of time. We postulate that the subject of entrepreneurship is marketed in different ways as a means of introducing (a) new learners to the subject area of entrepreneurship and (b) the wide ranging possibilities of entrepreneurship education.