Social Media Marketing Strategies for Entrepreneurial Success

The provided document is a detailed report on social media marketing strategies for entrepreneurial success. It outlines the objectives of increasing overall sales revenue by 20% and website sales by 12%, as well as engaging Facebook fans, Twitter followers, and Instagram customers. The report concludes that social media plays a crucial role in promoting organizations and targeting a large number of customers at a relatively lower cost.

ENTREPRENEURIAL
MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................3
Marketing Audit/ Current marketing situation............................................................................3
Objectives....................................................................................................................................6
Gather insight into target audience.............................................................................................7
Social media zones and vehicles.................................................................................................7
Create an experience strategy......................................................................................................8
Activation plan............................................................................................................................8
Manage and measure...................................................................................................................9
CONCLUSION................................................................................................................................9
REFERENCE ................................................................................................................................10

INTRODUCTION
Entrepreneurial marketing is a process of proactive identification and exploitation of
various opportunities for the intention of acquiring and retaining profitable customers with the
help of innovative approaches to risk management, resource leveraging and creation of value.
Organisation undertaken in this report is Unicorn Grocery which was founded in 1996 in UK.
This report will explain the identification of key marketing operational issues which was faced
by new ventures and small businesses in particular sector and industries within a global context.
The demonstration of appropriate marketing tools and instruments will be used that will help in
developing social media marketing plan.
Company overview
The Unicorn Grocery is a UK based grocery industry which serves various products to its
customers namely, fresh, dried and processed food and beverages and majority of its products are
organic in nature which emphasises on local and fair trade sourcing. It offers unvanquished range
of affordable, fresh and wholesome food (Allcott and Gentzkow, 2017). Their strong emphasises
is on constituent for tasty, interesting and really affordable cooking. The company aims to
cultivate strong relationship between their food, its producers and the person who consumes it. It
is one of the largest grocery shop in UK due to the competitive pricing and their quality which
sets them separate and unique. Furthermore, the organisation only has physical and stores in
which people go and buy essentials and it does not sell its products on internet.
Marketing Audit/ Current marketing situation
Social media marketing plan is not easy as it sounds because it also requires effective
planning and evaluation which will assess the internal external business environment of the
Unicorn Grocery shop.
Internal environment
The internal business environment is concerned with those factors that affects the
organisation internally and are generally controllable in nature. The following are the internal
factors which affects the Unicorn Grocery :
 Value system : The value system of the Unicorn Grocery is concerned with the various
ethical beliefs which guides the organisation in accomplishing the business mission and
goals. This determines the behaviour of individuals towards each other (Fuchs, 2017). It

has a strong contribution towards the success of the organisation. For instance, the
grocery store is bound by various ethical rules and regulations and for this purpose they
sell only those products which are licensed.
 Organisation structure : The structure of the organisation has a significant impact on
the decision making procedure of the Unicorn Grocery. If the company takes longer time
to take decision than this can impact the company financially. This is because delay in
decision can become time and cost consuming, thereby maximising the expenses for the
company.
 Quality of human resources : It is one of the most important factor of internal business
environment. This is important for the Unicorn Grocery because its success is largely
dependent on the skills, capabilities, attitudes and commitment (Kilenthong, Hultman and
Hills, 2016). Apart from this, it is also difficult for the management of the organisation to
deal with all the employees at a single time and so it is important to organise the
employees according to their relevant skills, knowledge and potentiality.
 Physical resources : These resources are concerned with the plants, machinery,
equipments, etc. which are required by the organisation for processing their food items. If
any of such equipments becomes obsolete or fails to work properly then this will have
adverse impact on the organisations operations. As it will affect the demand and supply
of products and this will lead to poor profitability for the Unicorn Grocery.
External business environment
The external business environment is concerned with those factors that lies outside the
organisation and has significant impact on the operations of the Unicorn Grocery. The following
is the analyses of the factors which affects the organisation and are generally uncontrollable in
nature :
 Political factors : These factors are related to the political stability and intervention of
the government. It includes various factors like taxation, subsidies, import, export,
foreign exchange rate, etc. Unicorn grocery will be affected by this when the government
after the effect of Brexit requires more money and this has improved the chances of
taxpayers as higher. It has raised the rate of taxation then the company will be required to
raise the prices of the products and this will affect the sale and profitability of the
organisation. The Unicorn Grocery follows fair tax mark business in which they assist the

mark and promote the adoption of taxation. It does not take any step to stay away from
paying heavy taxes.
 Economic factors : These factors are linked with the financial stability and profitability
of the organisation. It involves factors like recession, inflation, interest rate, deflation, etc.
If rate of inflation is high in the country then the prices of the products sold by the
Unicorn Grocery will be increased and due to this, customers will spent their disposable
income on useful products only rather than these products which will affect the revenue
of the organisation (Miles and. et. al., 2015). for being economical, the organisation has
adopted the use of eco disposables packagings which are made from plants and
minimises the cost of packaging for the organisation.
 Social factors : These factors are related to the social beliefs, values and customs. It
involves the tastes and preferences of the customers. Unicorn Grocery will have a
positive impact of social factors because people are preferring more of organic food due
to increased obesity and diabetes problems which demands the loss of wait and people
are becoming more health conscious day by day. Apart from this, people have also
become health conscious and this will be treated as an opportunity for the organisation to
meet the changing needs and demands of people by offering them varied products and
services.
 Technological factors : These factors are concerned with the innovation and inventions.
It is the most important factor in developing social media marketing plan which is fully
enabled with technology. Therefore, the building of Unicorn Grocery is technologically
enabled with solar thermal array which is useful in generating hot water. The use of solar
panel minimises the use of electricity. Apart from this, the increasing and growing trend
of online shopping will be very useful in the expansion of the business. For this, the
Unicorn can make its online shopping application through which people can buy grocery
sitting at their place.
SWOT analyses
The SWOT analyses is the technique which is helpful in evaluating the business strength,
weaknesses, opportunities and threats. This helps in identifying the troubling spheres of the
organisation and provides ample of opportunities for maximising the market share for the

businesses. The existing business can use SWOT at any point of time because to take quick
decisions in changing business environment. The following is the SWOT of Unicorn Grocery :
Strength
 Offers multiple category of product
lines with wide range of varieties in
organic food category.
 Access to the friendly business
environment and sources to the supply.
 Children corner is available for their
entertainment so that customer can
shop easily.
 Skilled, educated and high morale
employees are available.
Weakness
 There various alternatives available in
the market.
 New and young generation prefers to
purchase the products from highly
developed super market.
 Problem of delivery.
Opportunities
 To expand businesses through online
shopping.
 Expand the business in other product
categories like organic and healthy
restaurants, clothing, etc.
Threat
 Power shortages can increase the cost
of production.
 Political and financial instability.
 Competitors like Asda, Mark and
Spencer, etc.
 Change sin lifestyle of the people needs
the Unicorn grocery to change the
products ranges.
Objectives.
Every business organisation work for the fulfilment of certain business objectives. These
objectives are related to the business objectives and social media objectives for developing social
media marketing plan of Unicorn Grocery (Miles and. et. al., 2016). Furthermore, these
objectives are required to be SMART that is specific, measurable, accessible, reliable and time
bound in nature. The objective is to launch Instagram to have 200 followers in 4 months.
Business objectives :

 To maximise the overall sale of the company by 20 percent by the end of 4 months of
2019.
 To maximise the website sale by 12 percent by the end of 4 months of 2019.
Social media objectives :
 To increase in the Facebook fan count by 5 percent by the end of 4 months of 2019.
 To maximise the share of Twitter involvement by 10 percent by the end of 4 months of
2019.
 To create the Instagram profile and reaching towards 5000 new customers by the end of 4
months.
Gather insight into target audience.
This part will make segmentation of the target audience which is related to the dividing
the market on the basis of similar characteristics of the target population. The basis of various
factors for Unicorn Grocery and they are discussed below :
 Demographic segmentation : This type of segmentation is related to the separation of
market on the basis of income, age, gender, geographic location, marital status etc.
Therefore, the Unicorn grocery targets both male and female of middle age or higher age
who have average income in UK (Whalen and Akaka, 2016). They also targets the
students or married people.
 Psycho graphics segmentation : This type of segmentation divides the market on the
basis of personality, lifestyle, social class and beliefs, etc. Therefore, Unicorn grocery
will target the people who are health conscious and generally prefers organic food for
maintaining their health and increasing diseases like obesity, etc.
 Social media millennials : This type of segmentation is related to dividing the market on
the basis of customers who visit the store by watching social media advertisement
(Nijssen, 2017). On this basis, unicorn grocery targets those people who are active on at
least two social media networks and talks about the various products and services at least
twice in a month on social media. Furthermore, this includes people who has purchased
the products from the stores and has recommended to their knowns on social media.
Social media zones and vehicles.
The following are the social media zones and vehicles that will help the Unicorn Grocery
for accomplishing business and social media goals and objectives effectively and efficiently.

 Relationship : The Unicorn Grocery will be presented on every social media platforms
which will depict its voice, personality, products, etc. for accomplishing business goals
and objectives and developing competitive image in the market. They will focus on
building brand awareness and engagement through Facebook, Instagram, Twitter, You
tube, etc. In these platforms, the organisation will create awareness by asking questions to
the customer regarding their experiences with the organisation, feedbacks, taking polls,
introducing new product, etc. For instance, Facebook helps in having conversation and
sharing information regarding new products or modifications in existing products.
Twitter helps in listening and monitoring the conversations by using hashtags. It helps in
taking negative review of the customers and respond to their query quickly (O'Cass and
Morrish, 2016). Instagram is helpful in sharing delicious and tempting images of the food
products.
 Social publishing : It is the act of sharing or publishing content in a manner such that
people will react to respond and give their feedback. Its is beneficial for the business as
the customer can write directly about the organisation and with this, it establishes the
presence of the Unicorn Grocery. This can be done with the help of You tube which is
information video collection in which the feedback from customers can be recorded and
posted. These videos are also used to share the vision and mission of the organisation by
engaging the communities and group of people. Furthermore, blog writing is another
important method which is very famous now a days and information can be published.
 You tube channel : You tube channel is the correct instrument to promote the products
and services. It will help the unicorn to create a video for the purpose of marketing the
organisation and its products. Video is one of the best way of attracting the customers.
 Facebook : It is the world's largest social media which makes people connect with one
another. The unicorn grocery can use this tool by creating the official web page on
Facebook and regularly posting about the new products and services which ae offered by
the company so that people will have knowledge.
 Instagram : It is another major social media which is growing rapidly among people.
Majority of the population uses Instagram and this will help the company in attracting
large base of customer very rapidly.

Create an experience strategy.
For promoting the products and services offered by the Unicorn grocery, Facebook is the
newly designed strategy. On this, the organisation make profile, post pictures, address, contact
details, etc. By sharing the pictures and videos of our store, the customer perception can be
changed regarding the normal store and super market stores and they will visit the store (Tuten
and Solomon, 2017). This will further encourage them to promote the organisation in their
community and this will create favourable and exciting environment for the organisation and
other community people.
Activation plan
Brand activation comes in many forms and is delivered through multiple channels. For
this, the campaign will be prepared which will aim to donate certain proportion of the money
spent by customer into the charity for the purpose of educating poor people specially girls for
empowering them. This will be done in the beginning of June 2019 for 4 months. the champaign
team will monitor the social media and web site data for measuring and evaluating the key
performance areas (Whalen and. et. al.,2016). Furthermore, teams will be prepared for each
department and they all will work together for accomplishing business goals and objectives. The
Facebook video will be launched 5 times a week and Instagram page will be launched on 1 June
and aims to attract 5 followers per day for the coming 4 months.
Manage and measure.
Measurement of business objectives
The set objectives of the business will be measured with the help of overall sales revenue
and revenue from websites sales to maximise the overall sale of the company by 20 percent by
the end of 4 months of 2019 and also to maximise the website sale by 12 percent by the end of 4
months of 2019.
Measurement of social media objectives
These objectives has been accomplished or not will be measured with the help of
Facebook fan account who are engaged in liking the images or commenting on the post, number
of customer following Twitter and Instagram account, etc. to increase in the Facebook fan count
by 5 percent by the end of 4 months of 2019, to maximise the share of Twitter involvement by 10
percent by the end of 4 months of 2019 and to create the Instagram profile and reaching towards
5000 new customers by the end of 4 months.

CONCLUSION
From the above report it has been concluded that entrepreneurial marketing is very
important in present business scenario. Apart from this, social media plays a very crucial role in
promoting the organisation by targetting large number of customers at relatively lesser cost. With
the help of social networks various strategies can be developed that will establish the image of
brand in the environment.

REFERENCE
Books and Journals
Allcott, H. and Gentzkow, M., 2017. Social media and fake news in the 2016 election. Journal
of economic perspectives.31(2). pp.211-36.
Fuchs, C., 2017. Social media: A critical introduction. Sage.
Kilenthong, P., Hultman, C.M. and Hills, G.E., 2016. Entrepreneurial marketing behaviours:
impact of firm age, firm size and firm’s founder. Journal of Research in Marketing and
Entrepreneurship.18(1). pp.127-145.
Miles and. et. al., 2015. Exploring entrepreneurial marketing. Journal of Strategic
Marketing.23(2). pp.94-111.
Miles and. et. al., 2016. The influence of entrepreneurial marketing processes and
entrepreneurial self-efficacy on community vulnerability, risk, and resilience. Journal of
Strategic Marketing.24(1). pp.34-46.
Nijssen, E.J., 2017. Entrepreneurial marketing: an effectual approach. Routledge.
O'Cass, A. and Morrish, S., 2016. Anatomy of entrepreneurial marketing. Journal of Strategic
Marketing.24(1). pp.2-4.
Tuten, T.L. and Solomon, M.R., 2017. Social media marketing. Sage.
Whalen and. et. al.,2016. Anatomy of competitive advantage: towards a contingency theory of
entrepreneurial marketing. Journal of Strategic Marketing.24(1). pp.5-19.
Whalen, P.S. and Akaka, M.A., 2016. A dynamic market conceptualization for entrepreneurial
marketing: the co-creation of opportunities. Journal of Strategic Marketing.24(1).
pp.61-75.