Obviously I am missing something glaringly obvious here. I've followed to the book every stage of installing WordPress.
I unzipped the file, adding a new database on my webserver, followed by a user with all the privileges and then uploaded the WordPress files onto the same server. I changed the config file name to wp-config.php and ammended its contents to include the correct database name, username and password. I then directed my browser to http://www.example.com/wordpress (this is the directory of where my files reside).
All I get however is the "Error establishing a database connection" page. I've been stuck on this for quite a while now and just can't see where I am going wrong. Any tips?