Entrepreneurial Marketing InTRODUCTION

   

Added on  2020-10-22

11 Pages3143 Words119 Views
ENTREPRENEURIALMARKETING
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Table of ContentsINTRODUCTION...........................................................................................................................3Marketing Audit/ Current marketing situation............................................................................3Objectives....................................................................................................................................6Gather insight into target audience.............................................................................................7Social media zones and vehicles.................................................................................................7Create an experience strategy......................................................................................................8Activation plan............................................................................................................................8Manage and measure...................................................................................................................9CONCLUSION................................................................................................................................9REFERENCE ................................................................................................................................10
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INTRODUCTIONEntrepreneurial marketing is a process of proactive identification and exploitation ofvarious opportunities for the intention of acquiring and retaining profitable customers with thehelp 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 facedby 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 indeveloping social media marketing plan.Company overviewThe Unicorn Grocery is a UK based grocery industry which serves various products to itscustomers namely, fresh, dried and processed food and beverages and majority of its products areorganic in nature which emphasises on local and fair trade sourcing. It offers unvanquished rangeof affordable, fresh and wholesome food (Allcott and Gentzkow, 2017). Their strong emphasisesis on constituent for tasty, interesting and really affordable cooking. The company aims tocultivate strong relationship between their food, its producers and the person who consumes it. Itis one of the largest grocery shop in UK due to the competitive pricing and their quality whichsets them separate and unique. Furthermore, the organisation only has physical and stores inwhich people go and buy essentials and it does not sell its products on internet. Marketing Audit/ Current marketing situationSocial media marketing plan is not easy as it sounds because it also requires effectiveplanning and evaluation which will assess the internal external business environment of theUnicorn Grocery shop. Internal environmentThe internal business environment is concerned with those factors that affects theorganisation internally and are generally controllable in nature. The following are the internalfactors which affects the Unicorn Grocery :Value system : The value system of the Unicorn Grocery is concerned with the variousethical beliefs which guides the organisation in accomplishing the business mission andgoals. This determines the behaviour of individuals towards each other (Fuchs, 2017). It
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has a strong contribution towards the success of the organisation. For instance, thegrocery store is bound by various ethical rules and regulations and for this purpose theysell only those products which are licensed. Organisation structure : The structure of the organisation has a significant impact onthe decision making procedure of the Unicorn Grocery. If the company takes longer timeto take decision than this can impact the company financially. This is because delay indecision can become time and cost consuming, thereby maximising the expenses for thecompany. Quality of human resources : It is one of the most important factor of internal businessenvironment. This is important for the Unicorn Grocery because its success is largelydependent on the skills, capabilities, attitudes and commitment (Kilenthong, Hultman andHills, 2016). Apart from this, it is also difficult for the management of the organisation todeal with all the employees at a single time and so it is important to organise theemployees 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. Ifany of such equipments becomes obsolete or fails to work properly then this will haveadverse impact on the organisations operations. As it will affect the demand and supplyof products and this will lead to poor profitability for the Unicorn Grocery. External business environmentThe external business environment is concerned with those factors that lies outside theorganisation and has significant impact on the operations of the Unicorn Grocery. The followingis the analyses of the factors which affects the organisation and are generally uncontrollable innature :Political factors : These factors are related to the political stability and intervention ofthe government. It includes various factors like taxation, subsidies, import, export,foreign exchange rate, etc. Unicorn grocery will be affected by this when the governmentafter the effect of Brexit requires more money and this has improved the chances oftaxpayers as higher. It has raised the rate of taxation then the company will be required toraise the prices of the products and this will affect the sale and profitability of theorganisation.The Unicorn Grocery follows fair tax mark business in which they assist the
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