Defining Contextual Advantage: Exploring the Contextual Relation between Effectuation and Entrepreneurial Marketing in creating new markets Effectually

The paper explores the behaviour of the Entrepreneur and the Effectual use of available resources mainly social capital in new market creation. The study dwells on creating a unique ‘Context’ by leveraging these resources to increase the Entrepreneurial orientation of a firm. The paper further attempts to explore whether the Contextual link between Effectuation and Entrepreneurial Marketing helps develop a ‘Contextual Advantage’, which can be used as a mean of developing a unique business model which differentiates the firm in the market.
The paper hence explores contemporary theories of Entrepreneurship and Marketing namely Entrepreneurial Marketing, Effectuation and Contextual Marketing by studying their inter-relation. The nature of these theories is under explored according to the authors and requires further investigation to evolve the field of Marketing and Entrepreneurship.