Purpose – The first purpose of the study was to formulate a holistic value proposition framework in connection with value creation concept with an entrepreneurial marketing approach. Meanwhile, the second purpose was to reveal the way of creating value through EM. Whereby, the practical application after the purpose being fulfilled was to identify new pattern of selling and add value to existent milk product in Sweden.

Design/methodology/approach – the thesis has adapted an abductive and qualitative approach. A single embedded case study has been conducted based on the Swedish milk industry. In addition, data of the research have been collected by mostly utilizing qualitative interview with various people in different stances. Meanwhile, some principles of observation method of data collection have been employed. Participants of the research have been selected based on purposive sampling and convenience sampling techniques. Moreover, a template analysis adhering with the principle of grounded theory has been applied in the study.

Finding – The findings of the research contained two aspects in correspondence with the two research questions the research enquired. The first finding of the research was that a holistic value proposition framework as the source of value creation could reveal the specific strategy on value creation for entrepreneur or company who intends to act entrepreneurially. Whilst, the second finding was that value could be created though entrepreneurial marketing with value proposition as medium in between; in other words, the value creation activity can be realized by resorting to value proposition framework in entrepreneurial marketing. Every value proposition can serve as essential elements for constructing entrepreneurial marketing mix (8Ps). Accordingly, the identifying of EM STP (segmentation, targeting, and positioning) is the precedence when creating value through entrepreneurial marketing.

Research limitation – this research has been primarily delimited to examine one industry (milk industry) in Sweden and conducted under an entrepreneurial marketing approach. In addition, it has been limited to include all value proposition aspects as well as covering all the relevant customer or stakeholder.

Practical implication – An entrepreneurial implementation of an entrepreneur or a company that intends to grow entrepreneurially can support their value creation activity in accordance to a holistic value proposition framework as checklist.Originality/value – this paper was an original study to research on an innovative and entrepreneurial business that is not yet in existence. It attempted to enhance the correlation between value creation and entrepreneurial marketing.