Entrepreneurial Marketing: Strategies for Promoting Goods and Services
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Added on  2023/01/09
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This report explores the concept of entrepreneurial marketing and its strategies for promoting goods and services. It covers internal and external analysis, objectives, insights into the target audience, social media marketing, and implementation of an active plan. The report also discusses the management and measurement of marketing activities.
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Contents INTRODUCTION.......................................................................................................................................3 TASK..........................................................................................................................................................3 Internal as well as external analysis.........................................................................................................3 Objectives................................................................................................................................................5 Insights addicted to targeted audience.....................................................................................................6 Social media zones and vehicles..............................................................................................................6 Experience tactics by adopting selected zones.........................................................................................7 Implement active plan.............................................................................................................................7 Manage as well as measures....................................................................................................................7 CONCLUSION...........................................................................................................................................8 REFERENCES............................................................................................................................................8
INTRODUCTION In this report, the company focuses on social media marketing tools such as advertising, sales promotion, publicity as well as a sponsorship for attracting large number of customer towards the product as well as services which is provided by organization. It is considered as a process that helps the organization in promoting their goods and services through marketing. The company emphasized on targeting its user or in collecting the information regarding product, ideas, and services in many more. They adopt promotional technique in order to educate them. Marketing is the important element in order to carry out the organization. In this report the organization has been taken named as Verdant leisure. . This companywas given by Graham Hodgson and Bev Dixon in 2010. Theorganization focuses on decreasing the level of complain regarding Customer services. They also provide explanation regarding the marketing situation of the organization such as internal as well as external environment. They also provide the discussion regarding objective of organization insight into target customer and planning for the organization. The SWOT as well as PEST analysis of the organizationis adopting for identifying micro and macro environment. Alsothe objective or aim of the companies also explained in an appropriate manner. It is necessary to bring sustainable environment within business organization for performing different activity in an appropriate manner. There are various mode of an advertisement such as public event, newspaper and many more(Alqahtani and Uslay, 2020). TASK Internal as well as external analysis Internal environment within business organization involves mission, vision, customers, employees as well as many more. Therefore it has been analyzed that the internal environment must be controlled by the company by using the right strategy as well as tactics. Internal analysis assists the business organization in order to carry the operation such as qualities and grabbing the opportunity and minimize threat. This also helps the organization in future growth as well as success. SWOT analysis is adopted by the business organization in order to carry out the internal analysis.Therefore, the SWOT Analysis of organization which is given below:
Strengths ï‚·The main strength of the organization is havingsuccessfulrecordregarding merger as well as acquisition and also they have very strong image regarding cash flow. ï‚·Theotherstrengthisfocuseson bringinginnovativeideaswithin business organization for provide the productaccordingtorequirement. Therefore they have the skill in relation tosatisfytheuserthatassistsin boostingprofitinupcomingtime period. Weakness ï‚·Itisnecessaryforthecompanyto executeadvancedtechnologyin assessing the market trends and fashion but for the company it is not possible to implement advanced technology as per the demand of customer. ï‚·Therearevariouscompetitivefirms available at market place so that the company faces a lot of competition that decreasestheprofitmarginfor organization. Opportunities ï‚·The opportunity for the organization is toexpandtheirbusinessinfuture period of time and also they boost the size in relation to the market that help in increasing sales in upcoming period oftime. ï‚·The company also focuses on growing their product and services in order to offer the customaries facility. Threats ï‚·Duetochangesinthepoliciesin relation to politics it has occur threat for organization. ï‚·Furthermorethecompetitorisalso considered as a threat for organization External environment is considered as an environment that is not controlled by the businessorganization.Therearevariousfactorssuchassocial,economicandpolitical environmental, legal as well as technological(Nijssen, 2017). It is necessary to assess the external environment that imposes a direct impact on the working of business organization.
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Therefore for assessing the external environmental factor the PEST analysis adopted by business organization that given below Political factorinclude those factor which is controlled by the government of the country. In involves foreign trade, rules as well as regulation and many more. Due to stability in the UK Government itimposes positive influence on organization in UK and they don't focus on changing the operation as per the requirement of new government in the country. Economical factorit includes the situation that is prevailing in the economy. It involves employment rate, GDP rate, fiscal policy and many more. Therefore it has been analyzed that the economic situation in UK is with the rate of GDP is 6.5. In addition to this the country also focuses on having 75% rate of unemployment in economics. Therefore the organization achieves more and more profit in order to attract large number of customer by providing them the services as per their need. Therefore by increasing the lifestyle of individual person it increases the profit margin for the company in future period of time. Social factorIt involves taste as well as preference of an individual person by targeting large number of customer at Marketplace. The company focuses on understanding the behavior or attitude of customer in order to provide the product as per their need at market place. In context of the company, they emphasized on conducting appropriate research in order to analyze the need or demands of the customer at Marketplace and organization offer their services as per the need of the customer(Rezvani and Fathollahzadeh, 2020). Technological factorAdvancement in technology is necessary for the success of organization. Therefore if the company implements advanced technology then they provide the unique as well as specific product and services to its customer. Therefore the company focuses on management information system in order to put all record regarding the activities or functions of the company in an appropriate manner. It helps the organization in taking appropriate decisions in future period of time which will be beneficial for organization(Harkema and Buckles, 2019). Objectives The main objective for companies to manage the travel sector and also increases the indigenous habitat. Then main focus is on Nature in order to grab the opportunity and decrease
the impact on the environment. The focus is on removal of wastage as well as a usable material in order to make profit in future period of time. The main focus is to improving the visiting areas in order to increase the sales in future period of time. They also encourage their staff, subordinates as well as client in order to reuse a product of park and that help in success as well as growth of the company in future period of time. They also achieve bronze award regarding their services in February 2019 that helps in attracting the large number of customer at Marketplace. They focus on improving their network in order to achieve the best approach for cope up with the change in weather condition at workplace. Insights addicted to targeted audience The company focuses on offering accommodation facility to its customer in order to achieve profit margin. They offer the superior location to the individual person in order to increase profit margin. The location which is selected by the organization is considered as a full of nature. Therefore the organization is located in the north UK which is famous for the tourism services and many people come to visit such kind of places for their holidays. Therefore, the organization focuses on selling the tourism services and target large number of customer who love the green places for their holidays. The organization do not focuses on specific market to target large number of customers within UK. They focus on using different kind of promotional techniques in order to provide awareness to the customer regarding their product as well as services that assists in boosting sales upcoming time period(Kasemsap, 2017). Social media zones and vehicles The organization focuses on using different method such as advertising as well as promotional activity that is offered by the organization. The organization focuses on using digital marketing in order to improve their products and services by using digital platform. It helps the organization in selling their product as well servicesduring the period of time. Themain target is to send their money for the digital marketing. It helps the company in providing discount to the customer that help in attracting them. In addition to this digital marketing assists the company to promote their product by using newspaper.It helps in maintaining appropriate relation with the public and also maintains the bond. They are the different promotional technique for attracting ample of user in the market(Sodhi and Bapat, 2020).
Experience tactics by adopting selected zones The company focuses on making appropriate marketing strategy in order to target or attract customer. These kind of strategy helps company in satisfy in the purpose of Marketing by using a digital marketing platform of the organization provide their contribution and digital platform in order to conduct their marketing activities in an appropriate manner. The organization focuses on attracting large number of customer by providing the services in relatively low cost which is beneficial for the company in future period of time(Baker, Grinstein and Perin, 2019). Digital marketing offer the more benefits to the organization in less price. All the information or data regarding the customer is easily collected by the organization with their details by using digital platform in an appropriate manner. In addition to this the organization focuses on bringing sustainability that helps in reuse or optimum utilization of resources during the particular phase of time period. Implement active plan The organization focuses on nature therefore the use of marketing strategy in order to carry out the Green Marketing. The Green Marketing signifies the activity of the business organization that is economically sustainable. The organization use a different kind of manufacturing as well as operational activities that protect the environment which will increase the brand image of the company in front of customer at Marketplace. The company also claims regarding sustainably activity if there is any harm to the environment. The company is not registered through government but they can achieve the trust of individual person or audience at market place. In order to complete the overall plan it takes a month. In month the organization will approved by using it and advertise their products and services by using a digital platform and also conducting a public relation event that increases the awareness of the customer toward the services of company(Rentschler, R., 2020). Manage as well as measures All the cost in relation to marketing is necessary to perform in given period of time. The cost involves the price that is involved in conducting the event and also the engagement of an individual person that help in promoting the different facility.It also involves the activity that is connected to the advertisement as well as promotion by using sales promotion as well as
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advertising tools. There are approx 800 Euros which is used by company in public event, sales promotion as well as advertising tools that is going to be mentioned below: ActivitiesBudgets Public event400 Euro Advertisements200 euro Sales promotion200 euro Total800 euro CONCLUSION On the basis of above report, it has been analyzed that SWOT as well as PEST analysis of the organization is used for assessing the internal as well as external environment. Also the objective or aim of the companies also explained in an appropriate manner. It is necessary to bring sustainable environment within business organization for performing different activity in an appropriatemanner.Therearevariousmodeofanadvertisementsuchaspublicevent, newspaper and many more. Entrepreneur is considered as a person who focuses on brings innovative ideas within business organization and conversion of this plan into realism by optimum utilization of resources and finance. It is considered as a process that helps the organization in promoting their goods as well as services through marketing. The company focuses on targeting its user or in collecting the information regarding product, ideas, and services in many more. They adopt promotional technique in order to educate them. Marketing is the important element in order to carry out the organization.
REFERENCES Book and Journals Alqahtani, N. and Uslay, C., 2020. Entrepreneurial marketing and firm performance: Synthesis and conceptual development.Journal of Business Research,113, pp.62-71. Baker, W.E., Grinstein, A. and Perin, M.G., 2019. The impact of entrepreneurial orientation on foreignmarketentry:therolesofmarketingprogramadaptation,culturaldistance,and unanticipated events.Journal of International Entrepreneurship, pp.1-29. Harkema, K.J. and Buckles, T.A., 2019. Historical Development of Entrepreneurial Marketing. InUnitedStatesAssociationforSmallBusinessandEntrepreneurship.Conference Proceedings(No.1,pp.94-100).UnitedStatesAssociationforSmallBusinessand Entrepreneurship. Kasemsap, K., 2017. Advanced Issues of Internationalization, International Entrepreneurship, and Entrepreneurial Marketing in SMEs. InEntrepreneurship: Concepts, Methodologies, Tools, and Applications(pp. 2093-2107). IGI Global. Nijssen, E.J., 2017.Entrepreneurial marketing: an effectual approach. Taylor & Francis. Rentschler,R.,2020.Blockbustersandentrepreneurialmarketing:criticsperspectiveson meaning making. InHandbook of Entrepreneurship and Marketing. Edward Elgar Publishing. Rezvani,M.andFathollahzadeh,Z.,2020.Theimpactofentrepreneurialmarketingon innovative marketing performance in small-and medium-sized companies.Journal of Strategic Marketing,28(2), pp.136-148. Sodhi, R.S. and Bapat, D., 2020. An Empirical Study of the Dimensions of Entrepreneurial Marketing.Academy of Marketing Studies Journal,24(1), pp.1-7.