Promotion in Telecomms

Entrepreneurial Marketing
Guest Lecture Kosice 2011
Prof. Dr. Christine Volkmann
Dipl.-Oec. Holger Berg
Bergische Universität Wuppertal
Fachbereich B - Schumpeter School of Business and Economics
Bergische Universität Wuppertal
Gaußstraße 20
42119 Wuppertal

Overview

• The Meaning of Entrepreneurial Marketing for StartUps
• Concepts of Entrepreneurial Marketing Strategies
• Case Studie: Nantucket Nectars

Entrepreneurial Marketing :

THE MEANING OF ENTREPRENEURIAL
MARKETING FOR START-UPS
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• Marketing is of crucial importance for the success or failure of an enterprise, as its success is ultimately decided in the market, competing for the target customers.
• The degree of market orientation of an enterprise may well impact its overall business performance, both in the context of young and small enterprises and in the process of launching new products.
• Venture capitalists will look at:
– How the enterprise plans to enter the market
– Which target groups will be adressed
– How the firm„s product or service offers will be communicated and distributed to potential customers.

• Marketing activities of small companies with limited access to resources:  Creativity and simplicity (for example Guerilla Marketing)

• Entrepreneurial Marketing is difficult to calculate and is rather based on the entrepreneur´s visonary and creative marketing ideas • Entrepreneurial Marketing is driven by entrepreneurial oppportunities: – “the proactive identification and exploitation of opportunities for

acquiring and retaining profitable customers through innovative approaches to risk management, resource leveraging and value creation” (Morris et al. 2002)

Characteristics of Entrepreneurial Marketing

• Pro-activeness
• Calculated risk-taking
• Innovativeness
• Opportunity focus
• Resource leveraging
• Customer intensity
• Value creation
Quelle: Morris et al. (2002)

Functions of Marketing

– Build up customer