Creative economy entrepreneurs and market research

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Many entrepreneurs in the creative economy fail despite claiming to have done extensive market research, but why? This collaborative research project aims to find out the answer.

Key research questions in this project are:

  1. How do entrepreneurs use (or omit) market research, and are there unique market research circumstances characteristic of the creative economy?
  2. How does variation in the use of market research predict creative economy start-up success?
  3. What kind of interventions can improve the effectiveness of market research on creative economy start-up success?

The details

The creative economy encompasses advertising, architecture, the arts and antique market, crafts, design, designer fashion, film, interactive leisure software, music, performing arts, publishing, software, television, and radio. The creative economy presupposes entrepreneurial success, and it has become common-place to talk about “market validation,” “customer development”, and “pivots” among creative economy entrepreneurs—suggesting that a market orientation focus yields superior outcomes (such as start-up success, which in this study’s focus) compared with earlier (more internally, entrepreneur-focused) approaches to entrepreneurship.

Yet, despite the widespread acceptance of the virtues of a “market orientation”, especially in the broader circles of entrepreneurship, failure rates for new ventures in the creative economy remain very high. How can this be explained; are there unique circumstances in the creative economy stifling the application of customer-oriented market research by entrepreneurs; can it be that ‘creativity and ‘research’ do not go together well? This research aims at a multi-disciplinary, multi-method understanding of how creative-economy entrepreneurs and corporate innovators use (and omit) market research in the creative economy.

Supervision team

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