The art of entrepreneurial market creation

This paper investigates the role of entrepreneurial marketing in shaping the development of the Museum of Old and New Art (MONA) in Hobart, Tasmania. It draws on the notion of effectuation and the process of entrepreneurial marketing in explaining new venture creation and assesses the part played by David Walsh the entrepreneurial owner/manager. The literature on entrepreneurial marketing is assessed and then contextualised from an arts perspective. The research carried out here builds on a growing body of work adopting the entrepreneurial marketing lens to better understand arts marketing and new venture creation. An additional contribution to knowledge is the use of effectuation to assist in better understanding of the role of entrepreneurial marketing. This leads to the exploration of the interplay between market orientation versus market creation, where the latter is influenced greatly by the effectuation process. A series of research questions are then constructed and a case study methodology developed, Creative competencies including vision, ambition, risk taking, branding and decision making are assessed. A series of recommendations for theory and practice are made, included the impact on the wider arts marketing industry and a model of entrepreneurial market creation is constructed