Marketing Entrepreneurship

• the entrepreneur should initially identify and assess market

needs and then develop a new product/service.
• entrepreneurial marketing requires firms to focus on their
customers.
• Entrepreneurial marketing includes innovation, risk taking,
and being proactive. Entrepreneurial marketing campaigns
try to highlight the company's greatest strengths while
emphasizing their value to the customer. Focusing on
innovative products or exemplary customer service is a way
to stand out from competitors.
Marketing is a vital process for entrepreneurs because no
venture can become established and grow without a
customer market. ... Entrepreneurs must differentiate their
company's product or service so its distinctiveness and value
are clear to the customer.
A marketing strategy refers to a business's overall game plan
for reaching prospective consumers and turning them into
customers of their products or services. ... A thorough
marketing strategy covers "the four Ps" of marketing—
product, price, place, and promotion.
 there are four distinct types of entrepreneurial
organizations; small businesses, scalable startups, large
companies and social entrepreneurs. They all engage in
entrepreneurship.
 Carrier in Ecommerce
• Job opportunities available in the ecommerce job market.
• Ecommerce web developers.
• Ecommerce business analysts.
• Ecommerce Project Manager.
• Ecommerce customer service representative.
• Ecommerce order clerks.
• Ecommerce SEO content writer.
• Ecommerce virtual assistant.
• Ecommerce delivery driver.
• Customer service representative ·
Ethical responsibility in Ecommerce
Honesty.
Integrity.
Promise-Keeping & Trustworthiness.
Loyalty.
Fairness.
Concern for Others.
Respect for Others.
PROMISE-KEEPING.
CARING
LAW ABIDING.
 Legal responsibility in Ecommerce
For a successful establishment of an E-commerce business, GST
registration is mandatory. Every E-commerce business irrespective
of its turnover is required to be compulsorily registered under the
Central Goods & Service Tax (CGST) Act. Opening a bank account
in the name of the business is a convenient process.
 laws establish norms of conduct which promote honesty and fair
play and provide methods for addressing disputes.
if you are selling products internationally, your foreign customers
may have to pay import taxes and duties. You can choose to settle
them on their behalf .
Post-sales, delivery of goods to the customers, and customer
satisfaction will be the responsibility of the seller.
Social responsibilities in Ecommerce
Social responsibility means that individuals and companies have a duty
to act in the best interests of their environment and society as a whole. ...
Put simply, being socially responsible is just good business practice, and
a failure to do so can have a deleterious effect on the balance sheet.
Corporate social responsibility is traditionally broken into four
categories: environmental, philanthropic, ethical, and economic
responsibility.
Example of social responsibilities: Working for the community, such
as volunteering, giving blood donations, and working at a food bank or
animal shelter. Supporting issues that affect society, such as advocating
political or social issues that can help others—for example, advocating
for child labor laws, purchasing fair trade products, recycling.
 Risk management in Ecommerce
In the new Internet economy, risk management plays a
critical role to protect the organization and its ability to
perform their business mission, not just its IT assets. Risk
management is the process of identifying risk, assessing risk,
and taking steps to reduce risk to an acceptable level.
RISK MANAGEMENT STRATEGIES:
STRATEGY 1 - USE A RISK FRAMEWORK.
STRATEGY 2 - CAPTURE RISK CONTROLS.
STRATEGY 3 - ASSIGN ACTIONS TO ADDRESS RISK.
STRATEGY 4 - REGULARLY REVIEW RISKS.
STRATEGY 5 - CONTINUALLY REPORT ON RISKS.
Risk management is the process of identifying, assessing and
controlling threats to an organization's capital and earnings.
These risks stem from a variety of sources including financial
uncertainties, legal liabilities, technology issues, strategic
management errors, accidents and natural disasters.
Types of Risk:
Systematic Risk – The overall impact of the market.
Unsystematic Risk – Asset-specific or company-specific
uncertainty.
Political/Regulatory Risk – The impact of political decisions
and changes in regulation.
Financial Risk – The capital structure of a company (degree
of financial leverage or debt burden)
Financing the Business in Ecommerce
E-commerce financing is a funding solution that provides business loans to
web-based merchants (shops). Ecommerce lending helps online sellers grow,
cover marketing expenses and increase sales. Online sellers use E-commerce
funding to stabilize the cash flow and to cope with payments obligations.
Ways to Finance Your Ecommerce Business:
Personal Savings. Also known as bootstrapping, this works well when you are
receiving very low returns on your money and the cost of borrowing is high.
Friends and Family.
Credit Cards.
Peer-to-peer Loan.
Home Equity Loan.
Traditional Bank Loan.
SBA Loan.
Online Lender.