Title: The wheel of consumer analysis applied to Colombian entrepreneurs

Authors: Santiago García Carvajal; Dennis A. Kopf

Addresses: Facultad de Estudios a Distancia, Universidad Militar Nueva Granada, Cajicá Km 2 Via Zipaquirá, Cajicá, Colombia ' College of Business and Economics, University of Wisconsin, Whitewater 800 W. Main Street, Whitewater, WI 53190-1790, USA

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.

DOI: 10.1504/IJBG.2024.138634

International Journal of Business and Globalisation, 2024 Vol.37 No.2, pp.196 - 209

Received: 06 Dec 2019
Accepted: 14 May 2020
Published online: 22 May 2024 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article