Entrepreneurial Marketing | Assignment

ENTREPRENEUIRAL
MARKETING

Contents
INTRODUCTION........................................................................................................... 3
MAIN BODY................................................................................................................. 3
Features of small business marketing environment................................................3
Key operational issues faced by new ventures and small businesses in specifies
sectors and industries............................................................................................. 5
Compare and contrast ‘standard’ marketing theory and practice seen in the
business research findings...................................................................................... 6
Develop autonomous learning skills regarding problem solving, effective
communication and self management ...................................................................6
CONCLUSION.............................................................................................................. 7
REFERENCES............................................................................................................... 8

INTRODUCTION
The Third way group are a London based office design, architecture, furniture and
development Company. This company partner with clients from all industries to create best
environment for their employees. The company was started by Ben Gilliam. The company is
based on trust, team and commitment with fun. In addition to their core values the company has
three values which includes behave like an adult, celebrate success and believe in achieving
organisational goals. The company is provided with a budget to have a project completion
activity involving key representatives from the client team as well. The company believes in
doing CSR gor the society and even being an SME it contributes alot for the benefit of the
society. It would be wrong to say it a single marketing strategy and more about marketing spirit
that differentiates itself from traditional marketing practices. It utilizes a toolkit of new strategies
of marketing efforts. They work within limited budgets and has limited resources. The most
common features of entrepreneurial marketing include innovation, risk taking, and being
proactive. For bettr understanding the report will take thi8rd way group of UK that is SME and
deasl in providing furniture t and designs to the cusotmers. This marketing campaign tries to
highlight the company’s greatest strengths while giving values to the customers. Focusing on
innovative products or customer service makes this firm stands out from competitors. They do
marketing using cheap and accessible tools including viral videos, tweets, Facebook, and
marketing with the help of email. The report will include distinguishing features of small
business marketing environment which gives them competitive advantage. Further, key
marketing operational issues faced by new ventures and small businesses in specifies sectors and
industries in global context. The report will compare and contrast standard marketing theory and
practice in the small business. At last the report will show to develop abilities of problem
solving, effective communication and self management.
MAIN BODY
Features of small business marketing environment
The Third way group are a London based office design, architecture, furniture and
development Company. This company partner with clients from all industries to create best
environment for their employees. The company was started by Ben Gilliam. The company is
based on trust, team and commitment with fun. In addition to their core values the company has
three values which includes behave like an adult, celebrate success and believe in achieving
organisational goals. (Gothe, 2019).
Marketing environment is the combination of external and internal factors and forces
which affect the company’s ability to establish a relationship and to serve its customers. It can
consist of external and internal environment. The internal environment is company specific
which includes owners, marketers, and workers, materials etc. the external environment of the

company is divided into two components which are micro and macro factors. The micro factors
include are producing, distributing and promoting the product. The macro factors on the other
hand include the factors that can affect the society as whole (Genoveva, 2017).
Features of marketing environment:
Internal environment – The internal environment of the business includes all the factors
that are present inside the organisation which can affect the marketing operations of the
company. These components are men, money, machinery, materials, and markets (Efrat, 2017).
The internal environment is very important to third way company as it includes employees of the
company, marketing department, sales department, human resource department etc.The owners
of Third way give away the awards to its employees during weekly meeting of the team to
reward people when they behave in accordance with the values of the company. They also give
bad behaviour awards which are delivered in jest to employees who were not up to expectations.
The organisation runs strongly on ethics and values (Miles, and et.al., 2015). Apart from that the
money of the company is invested and utilised on right manner which allow the company in
achieving success. The human resource and marketing department of the company are also
effective as they deal in taking care of the employees and listening to their queries and
suggestion and along with that marketing department focuses on advertising, using social media
networks tom attract customers.
External environment- These are the factor under which the company has no or very
little country. It is divided into two parts:
Micro environment – These are the factors that are directly related to the business. It includes:
Suppliers include parties that provide resources to third party group. If they increase
their prices it will affect the finance of the company.
Customers are the target group of the organisation which are selected and are availed
with the products and services of Third way group.
Competitors are the players in the same market who targets same customers as of third
way group.
Public is made up of group that has a potential interest or affects the ability to serve its
customers.
Macro environment – The macro environment does not affect the industry as a whole but
do not affect directly on the company. These are:
Demographic environment is made up of people on the basis of sex, age, background,
occupation etc. Thee third way group takes care of its customers on the basis of their taste and
preference, age etc.