IMC for Small Business and

Entrepreneurial Ventures
Chapter 15 with Duane Weaver

Range: Small Bus. to New Venture

May Include:
Small family-owned (dry cleaner, restaurant, specialty
shop)
Business start-up seeking growth
Corporate Start-up
Groups of Professionals in practice together (clinics, law
firms, etc)
ENTREPRENEURSHIP: company formed with the
express goal of becoming larger through an aggressive
growth agenda.
INTREPRENEURSHIP: corporate spin-off or start-up.

Starting Out: MARKET ANALYSIS

1. Understand and define consumer needs
2. Establish a clearly defined product/service
3. Develop a unique market niche (entrench
and/or expand from) having a unique selling
proposition (USP).

USP: some feature that allows the new company to

stand alone and be distinct from all other
competitors. Could be based on:

Price (major difference)

New service not available
Some other feature not easily duplicated

FINDING CUSTOMERS:
critical IMC component

Locating customers

Increasing accessibility for customers (contact points)

Guerilla marketing (low cost, creative strategies)

Trade shows
PR programs
Alternative medias
Lifestyle marketing venues
Traditional venues
Networking*
Lifestyle marketing
Web Sites

Reducing first-purchase risk for consumers

Samples
Coupons
Discounts
Referral discounts
Free first consultation* (or perceived free)
Money-back guarantee

Developing customer ADVOCATES

ADVOCATE: loyal to the business and draws other
customers (and/or advocates) through positive
communications.
Database Management
(often neglected by small business start ups, can be the key to
repeat business, market knowledge, & pattern awareness)

Direct Marketing
Works well with database (buy or build referral program
3*3*3*3).
STEPS: 1. Goals, 2. Define Audience, 3. Target, 4. Produce DM
piece, 5. Print and Distribute, 6. Track response rate.

Personal Selling
Vital to small business to build and keep customers.

Trade and Consumer Promotions

Keep the cost effective and goal driven