Entrepreneurial Marketing: Features, Issues, and Comparison

This report explores the features of small business marketing environment, identifies key operational issues faced by new ventures, and compares 'standard' marketing theory and practice. It also delves into the concept of entrepreneurial marketing and its impact on business performance. The case study focuses on Mirale cake flavor, a small firm, to provide practical insights.

Entrepreneurial Marketing

INTRODUCTION
Entrepreneurial marketing refers to an organizational activities that is a set of communicating,
delivering and creating for the value and managing the customer and their relationship so that its
benefited the owner and other stakeholders to take more risk by using innovation and earns revenues and

more market growth. It is identification and the using of the opportunities that is applying for acquiring
and maintaining the profitable consumers by their creative approaches to the risk management and the
creation of the value. Therefore, without marketing no business venture can operates and without
customer satisfaction no enterprise can grow. For small and medium size organization it is somehow
difficult to produce new and innovative products because it is expensive for them and because of thie they
will become more resourceful in their marketing. This project report based on the small firm Mirale cake
flavor in which it explains the different features of small business of marketing environment and also
identifies the marketing operational issues that were faced by the new ventures and small business in the
specified sector. Further it explains the comparison of standard marketing theory and practice that was
related to the small business research findings(Miles and et. al., 2015).
MAIN BODY
Distinguish features of small business marketing environment
Small business enterprises are not eventually grow as per the large organization can
increase. Marketing business environment is refers to a strategic function that is used by the
small business to evaluate the circumstances, competitive environment and the operating
activities. In context of Mirela cake flavor, manager can analyze certain features that are helpful
in sustainability in the market place. There are some features that are explained below on the
basis of small business marketing environment (Yang and Gabrielsson, 2017).
 In this they cannot produce large range of products in their outlets as there is insufficient
resources because of this they could not focus on the variety of products but they mainly
focus on the perfection of chosen group with applying different strategies. In this the firm
adopts the customization application of goods that will help in making the innovative
products and different from the rival firms. This will helps in attracting more and more
customers.
 In this the another distinguish feature that is follow by Mirele cake flavor, is that they use
social media for connecting with the customers and clients to manage their business
activities. In this consumers can give their feedback on the offerings, its supply and
maintenance. They use social media for communicating the people by using face book,
Instagram and you-tube.
 .The small business can follow the flexible culture in their organization so that they will
easily adopt the change as per the demand of the market. This helps in attracting many
customers and enabling them to differentiate their products from the competitors.
 They are the best source of generating the economy as they provide the employment to
the local area people who are unemployed. This will help in better the country economy
and the standard of living of the people.
Key marketing operational issues faced by new ventures and small businesses in specified sector
There are various sources and operational issues and problems that was faced by the
small business ventures and a new enterprises when performing the business activities in the

Mirele cake flavor venture. In this they sell wide rande of home made cakes and pastry on
occasion and theme party. To stay in the market and expand their business they faces various
issues that are explained below(Whalen and et. al., 2016).
 Issues in Communication- In every business use of current technology is very useful
for earning more and more profits. In small business venture this issue is remain unsolved
and it will affect the firm profits and sales. In this they properly communicate with
customers, clients and the employees who are the main resources of the ventures. In this
they will make proper plans and according to that they implement it by providing proper
information to the employees. For example- Mirele cake flavor owner examine the the
information is tranferres to every employees, clients and customers in an accurate way. If
there is problems in this the venture cannot achieve its task on time and the profits which
is the only aim of the business.
 Hiring suitable candidates- It is the another issue that was faced by the small and new
business venture by recruiting and selecting the talent person in their organization to
complete the goal on time and earns higher profits. It is an important tool in the startup
venture where they hire a skilled people who are able to generate and produce the
innovative goods and services. For instance to develop a healthy culture between the
team members it is essential to hire suitable candidates from the pool of aspiring
individuals which is somehow tricky and the biggest challenge in the current
environment. For example- Mirele cake flavor, wants to hire a new manager who
manages all the activities in the firm for hiring a skillful person they need time and
money which is not present appropriately with them. So for this they hire a local
candidate who need job and have a knowledge of management (Kilenthong, Hultman and
Hills, 2016).
 Financial management- It is the major issue that was faced by the new ventures and the
small business start-ups because there is limited amount of money in their hands. In every
business finance is the backbone. Higher the income higher the expenses. In this situation
small business enterprises play safe and carefully and take help from the financial
investors who invest the money in the business and helps in expanding the business at
higher level. In context of Mirele cake flavor, they have limited amount of money to
expand their business online so they covers large number of audience as compare to large
organization.
Compare and contrast ‘standard’ marketing theory and practice
it is an important aspects of the small company to compare their activities with large
organization by using various management practice and theory so that it will help in knowing the
problems and benefits in their business. There are following marketing theory and practices on
the basis of which comparison is done that can be described below(Anwar and Daniel, 2016).
Marketing practice

 Promotional activities- It is the first marketing practice that is used in comparison. Here
the small business enterprises uses traditional ways of advertising their business and
goods offerings or sometime they use word of mouth publicity because in this they invest
less amount of money. On the contrary large organization use modern way of promoting
their goods and services because they have large amount of funds available which is very
useful in promotional activities. in small venture they are not merely aware about the
digitalization process as compare to large companies which used this platform to capture
the large market of give beneficial offers to their targeted customers for making them
long time loyal from then companies(Ahmadi and O'Cass, 2016).
 Human resource capital or people- Small business enterprises have a limited number of
employees who are working in the firm and achieve the targets and for attending and
welcoming the customers in the stores and make aware about them for the products. In
this they type of firm workers are maximum at 10 or 11 not more than that. On the
contrary large companies, employed 250 or more than that who are engaged in the
different activities that is perform in the company. Generally they hire a skilled and
experienced person who is capable of working the task on the specific time for this they
pay high. In small organization they will hire a unskilled and semi-skilled person because
of low budget in their hands for selecting the best candidate.
 Product and service development- In context of small business enterprises they always
need to modify and develops a product from the old one to attract many customers in the
competitive market because there brand image is not so strong in the market because of
this they need to come up with new ideas and thoughts so it will cover large market. On
the contrary large business organization does not need to innovate their products on
immediate basis because of their brand image in the market and many customers are loyal
towards them.
 Balancing long term planning and immediate opportunities exploitation- Small
business venture does not to plan for longer term basis they need to make plans on the
short term because they earn a small amount of profits and for this they make a plans on
regular basis. On the contrary large organization need to make a long term plans and
balance between the immediate opportunities which is helpful in making the making the
business at higher level and earns large amount of profits.
 Distribution channel- In small business enterprise they supply the goods and services at
their outlets only there is no mediator is available in between them. They includes
traditional form of channel in which it includes few number of suppliers who supply
products to the other place only which is not far from that place. On the contrary, large
organization need vast area of distribution channel to supply their products to the ultimate
consumer within a time. It includes modern ways of channels and create a strong network
of suppliers who supply the goods and services in different location or geographical
regions(Hoque and Awang, 2019).
Management theories

It refers to that model which is used to increasing the sales of a company for whoch they
need to position their products and services in the market place in such a way that attracts more
and more customers and also satisfy the needs of the consumers. it includes creating the image of
the brand for this company need to analyse the best theory for their venture. This project helps in
comparing the theory between the small and large business organization that are as follows. Segmenting - In context of small venture segmenting is only based on the psychographic
and behavioral basis because in this they only focus on the customer demand , perception
and their attitudes towards the products. On the contrary, large organization segment their
market on the variety of segments like demographic, geographic , behavior and the
psychographic. In this they need to identify the taste , preferences and behavior of the
customer on the basis of geographical features or make their products and services
according to thet in this that also focus on the country culture in which its operates and
provide the offering according to that region needs and wants.
 Targeting - In small business they target only small parts of the customers like who are
regular customers for them. On the other hand large organization need to target the
customers as per the variety of products they produce and according to their preferences.
 Positioning – in small business they need to position their products on the basis of their
sales and large companies position there products according the purchase of products
before the purchase of competitors (Sadiku-Dushi, Dana and Ramadani, 2019).
CONCLUSION
From this research it is concluded that entrepreneurial marketing is an useful application
for running a small and scalable business enterprises. This report helps in analyzing the different
features of small business that is helpful in longer sustainability and increasing the profits and
revenue of the firm, it determines the opportunities and threats which is present in the specific
sector. It also studied the operational issue that was faced by the new venture and small business
to stay in the market for long term. Further it will help in understanding the management practice
and theory that is used by small ventures but differ from the large business organization that will
help in gaining the competitive advantage and the survival of the firm. It also helps in attracting
more and more customers to sustain in the market place.

REFERENCES
Books and journal
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Anwar, M.N. and Daniel, E., 2016. Entrepreneurial marketing in online businesses. Qualitative
Market Research: An International Journal.
Crick, J.M., Crick, D. and Chaudhry, S., 2018. Entrepreneurial marketing decision-making in
rapidly internationalising and de-internationalising start-up firms. Journal of Business
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Hamali, S., 2015. The effect of entrepreneurial marketing on business performance: Small
garment industry in Bandung City, Indonesia. Developing Country Studies. 5(1).
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Hoque, A.S.M.M. and Awang, Z., 2019. Does gender difference play moderating role in the
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Entrepreneurship.
Miles, M., and et. al., 2015. Exploring entrepreneurial marketing. Journal of Strategic
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