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Entrepreneurial Marketing

?………………………………………………………4d Viral marketing……………………………………………………………………4e Recommendation and conclusion…………………………………………………5 Bibliography………………………………………………………………………6 Abstract The paper gives an alternative conceptualization of entrepreneurial marketing. It gives a review on the issue of entrepreneurial marketing as one of the tools which many business ventures have applied today in the production of goods and services hence can strategize themselves well in the global market. There are so many forms/approaches on entrepreneurial marketing but my interest is on the entrepreneurial approaches to promotion in both advertising as well as selling their products to the customers. This marketing approach has widely been applied by many business ventures both small and large and these businesses have been successful. In my research, have taken a review of the three articles on promotion which include; the guerrilla marketing, buzz marketing and viral marketing as a marketing strategy by entrepreneurs. Introduction According to American Marketing Association (2007, pp 243), entrepreneurial marketing can be defined as business function of marketing its products and services and this is achieved by taking in to account the following aspects: innovativeness, proactiveness, risk taking and the pursuit of opportunities without putting in to consideration the resources currently controlled. Our definition suits both the small and the large scale business ventures who would wish to compete effectively in the large market. Once goods and services have been produced, customers have to be informed about the new product in the market. This is only achieved by coming up with a marketing strategy to put your product in the market. Entrepreneurial marketing describe the marketing activities for both small and large scale business ventures. Given the large share of the economic activities, entrepreneurs have developed a fresh field of research on the marketing strategies which ongoing as well as the new ventures can adopt given the competition in the global market today. EM describes the marketing activities which these firms develop irrespective of their sizes and age (Brotherson 2008 pp142). Our research on entrepreneurial marketing explore that it can be implemented and for any firm to perform well, then it has to put in to consideration the various marketing strategies which differentiate the firm from the others. Many firms today produce similar products and services and the only way entrepreneurs can be able to compete well in the global market is by coming up with marketing strategies and work towards achieving those strategies. Competition in the global market today is stiff hence entrepreneurs need to strategize themselves so that they can compete effectively given the limited resources they have (Chrisnail 2005). According to Aldrich (2007 pp124), it is obvious that most new ventures are not ready to be risk takers, not innovative but more rather imitative. They are not ready to incur any losses but what they do is that, they try to imitate the products ready in the market. A good example to explain this is Sony Company which produces most of the ...Show more

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The paper gives an alternative conceptualization of entrepreneurial marketing. It gives a review on the issue of entrepreneurial marketing as one of the tools which many business ventures have applied today in the production of goods and services hence can strategize themselves well in the global market. …
Author : geoschamberger
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