MARKETING FOR

ENTREPRENEURIAL
VENTURES
(presented by: Pro.Abdul waseem)

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 Table of contents:
Entrepreneurial Marketing

Marketing is essential for entrepreneurs

What is the difference between traditional and

entrepreneurial marketing?

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What is Marketing?
Chartered Institute of Marketing – UK.

“ Marketing is a management process, which is responsible in

identifying, anticipating and satisfying customer needs and wants at a
profit”

American Marketing Association

Organizational function and a set of processes for creating,

communicating and delivering value to customers and managing
customer relationships in ways that benefit the organization and its
stakeholders
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 

Marketing Promotes Product Awareness to the Public.

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 What is a 'market' to an entrepreneur?

- A market is a group of potential customers who

have purchasing power and unsatisfied needs.

-A new venture will survive only if a market exists

for its product or service.

-(And if it can meet the market's need at a profit is.)

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 Entrepreneurial Marketing

"Entrepreneurial marketing is proactive

identification and exploitation of opportunities for
acquiring and retaining profitable customers
through innovative approaches to risk
management,
resource leveraging, and value creation"
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Entrepreneurial Marketing:-
• Proactiveness:-
• • Keen observation of the entrepreneur
• • Awareness of external market environment
• • Awareness of the changing market

• Risk Taking:-
• → Propensity of an entrepreneur to accept the loss
• → Calculating risk and investing in ventures
• • Readiness for fatal outcomes
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 Entrepreneurial Marketing
• Opportunity:_
• → Possible gap in the market
• → Three typologies
• 1)Recognition of opportunity when demand and supply exists
• 2)When demand exists and supply does not exists
• 3)Both demand and supply in the market do not exist

• Innovativeness:_
• Innovativeness involves the firms attitude to developing the innovative
processes that often lead to new products, new services and technological
discoveries
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Entrepreneurial Marketing
Competitiveness 
• Competitiveness concerns the firms attitude toward
dealing with competitors. 

Market orientation
•  The business owner identifies a market need and then
creates products and services to meet that need.
For example
Like Amazon

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 Entrepreneurial Marketing
Leveraging resources ( how to get the maximum out of limited resources)
• -Accomplishing more with lesser resources
• -Stretching their resources
• -Intelligently use the resources
•  Eg. guerilla marketing, social media, net working
Customer Intensity :
• -Reflects the number of customers
• -Recommended to have to lower number of customers initially
• -Must always increase the customers gradually
• -Overwhelming problem with increasing customer intensity
Value lCreation:
• -Marketing mix principles
• -Differentiation

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• - Innovation Footer <#>
Entrepreneurial Marketing
• - Innovative, risk-oriented and proactive.Achieve durable competitive
advantage. Many new strategies, like co-creating a product with the
customer.

• -Facebook- Zuckerberg started out with an idea, using his knowledge as a

means to create a social networking site, without the benefit of market
research or market testing. 

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 Marketing is essential for entrepreneurs:
• -It makes the customers aware of your products or services, engages them,
and helps them make the buying decision.
• -Marketing is as critical to new businesses as it is for established ones.
• -Start-ups must be intimately in touch with their customers and with their
needs.

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Difference between traditional and /entrepreneurial
marketing
• Traditional marketing:
• -Concentrating on brand
recognition or market share
• -Cost driven
• -Marketing as
objective,dispassionate science
• -Reactive and adaptive approach
with incremental innovation in
market
• -Efficient use of existing resources
• -Four P's: Product, Price,
Promotion, Place
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• Entrepreneurial marketing:
• -Concentrating on leveraging deep
customer knowledge into sales.
• - Revenue driven
• Marketing passion, zeal,
• persistence and creativity
• -Creative use of the resources of
others
• -Proactive approach, leading the
customer with dynamic Innovation
in market
• -Four C's: Co-
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creatiCommunitiesCustomizationo <#>
n and Choice
 Thank you

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