The initial public offering offers the ability to obtain additional capital through the mechanism of the primary capital market and represents an important milestone in the life-cycle of privately-held corporations. The value and the number of realized IPO transactions at the global level are increasing. At the same time, due to IPO underpricing problem, the companies that are going public fail to collect requested amount of capital to fund future growth. Given the limited importance granted to marketing, and especially promotion, in the theory and practice in the process of evaluating and trading securities, the author addresses two subjects in this paper. Firstly, the author emphasizes the importance of defining and implementing appropriate marketing strategies in the initial public offering process, and secondly, discusses the impact of marketing expenditures in various instruments to reduce IPO underpricing and create value for shareholders of the company that is going public through the initial public offering.