Introduction Entrepreneurs have been here since the beginning of civilization. They have innovated, strategized, and sold their way to riches. But their strategies for building and growing their ventures have varied over time, and only in the last few centuries have they gotten deep and scientific. With advancements in both business strategies and technology, the modern startup has arisen. It is defined as a “company designed to grow fast”, and while this may sound like a easy goal, its achievement is no simple feat. Growing fast involves a combination of many different types of knowledge, intuition, and even some luck. Marketing, of course, takes a huge part in the growth rate of a company. In order to get more costumers, startups must make their product or service well known and popular in their respective markets. And advertising is one of the main ways they can do this. However, by definition, startups are small, and therefore are usually constrained by limited budgets. Finding ways to advertise with limited funds is one of the most crucial challenges that startups face, and this is, in many ways, a new problem. Historically, new companies have had a lot of trouble even accessing cheap advertisements, and with less free economies in general, had a tough time achieving growth. With the advent of the internet and the information revolution, not only are startups able to scale incredibly rapidly, but their access to advertisement options has increased dramatically. Still, though, most startups fail, and all of them struggle to find the best way to advertise. With more research, the most effective methods for overcoming this challenge can be unveiled, which would further advance the success rate for startups.
There hasn’t been much research on the subject for several reasons. The main one is that, as mentioned previously, this is a very new problem. The opportunities that new ventures…