Entrepreneurial Marketing Assignment PDF

Entrepreneurial
Marketing

EXECUTIVE SUMMARY
The present report is based on the entrepreneurial marketing which is
concerned with identification and analysis of certain opportunities and threats
which will help the unicorn grocery store to acquire a large market share and
retention of customers of the company. It has been summarised about various
models and matrix which will assist the managers of company to increase their
profitability ration and reputation of the firm. The strategies adopted by unicorn
grocery stores will also helps them to gain competitive advantage at both
international and domestic level. To increase the audience on company's website
by 10% with the help of social media marketing plan by the next 4 months. In
addition to this, company is using online platform for marketing which increase the
sale by 2.5%. Also company increase their market share by 3% in the next 4
months. At last, with the help of marketing plan company can increase the social
media insights by 20% in the next 4 months.

Table of Contents
INTRODUCTION...........................................................................................................................2
1.Marketing Audit............................................................................................................................2
Internal Analysis of Unicorn Grocery.........................................................................................2
External Analysis of Unicorn Grocery .......................................................................................4
2.Objective of the study ..................................................................................................................5
3.Target Audience of Unicorn Grocery Store..................................................................................5
4.Social Media Zones And Vehicles................................................................................................6
5.Experience strategy using selected zones ....................................................................................7
6.Activation Plan .............................................................................................................................7
7.Manage and Measure....................................................................................................................7
CONCLUSION ...............................................................................................................................8
REFERENCES ...............................................................................................................................9

INTRODUCTION
Entrepreneurial marketing is concerned with small medium enterprises as it aid in
exploitation and identification of opportunities in the market for acquisition and retention of
customers by adoption of innovative approaches for resource allocation and value creation. The
present report is based on the small medium sector enterprise which is Unicorn Grocery which
was founded in year 1996 and based at Charlton-cum-Hardy, England. It is owned and controlled
by owners and members of the enterprise by application of flat management structure and paying
the employees fairly and equally. In the report it has been discussed about the internal and
external analysis of the organisation. Also it has been examined about viewpoints of target
audience and social media zones and vehicles with the experience strategy. Further, activation
plan for the organisation is prepared for four months. Lastly this report consist of proper
management of budgets and taking measures for any deviations in the marketing plan (Killian
and McManus, 2015).
1.Marketing Audit
This is known as systematic, evaluation, analysis of the complex business environment
on the period basis (Zimmerman and Ng, 2015). The major components of marketing audit
comprises of micro-environment, task environment, marketing strategy, marketing organisation,
marketing function, marketing system and many more. Their is brief internal and external
analysis of Unicorn Grocery which is given below:
Internal Analysis of Unicorn Grocery
STRENGTH
 The company majorly focuses on
carrying out its business operations in
the ethical manner.
 The USP of the company is that it deals
in selling organic bread, dry
ingredients, body and household
products which are environment
WEAKNESS
 At the initial level of start-up the
company requires huge investments to
grow but Unicorn is small-scale
enterprise so, there are limited number
of investors.
 The management structure of company
is FLAT which means that there is no

friendly as it main purpose is to do
business in the products which are
produced with minimum processing.
Also, avoids the inclusion of salt, sugar
and animal derivatives.
 The grocery store of Unicorn is formed
in such a way that customers can do
shopping efficaciously as it includes
kids play area and complete
information about the offerings of the
company along with their benefits and
uses (Scott, 2015).
 The members of unicorn grocery are
provided with secure employment with
equal and fair treatment for paying
wages or salaries.
 Some of the products are cultivated on
the GREEN ROOF which means that
vegetation is done on the roof as it is
environment friendly. Also, it leads to
heat reduction, energy conservation and
lower the possibilities of certain
diseases such as Asthma.
middle level management or manager
but customers thinks that there is
someone taking proper care. Also, there
is communication gap because of this
management structure.
 On the one hand Unicorn shows that it
is offering super healthy products but
also sells coconut biscuits and deep-
fried onion bhajis which can be a
weakness as it affects the health of
customers. Also, this reduces the major
base of health conscious customers.
 Their is high storage and delivery cost
as the company mostly deals in
perishable items.
 The company is unable to adopt
technological advancements because of
limited investment.
 With the increase in level of
competition the company focuses on
attracting customers by keeping prices
of lower than the rivalry firms so there
are low profit margins.
OPPORTUNITIES
 Now-a-days consumers are becoming
health conscious so the opportunity for
Unicorn is to do expansion of their
stores at both domestic and
international level (Tuten, and
Solomon, 2017).
 Currently company's target market is
THREATS
 There are many competitors for
Unicorn as there is fierce competition
in the market. The rivalry firms
affecting the business of company
includes both small-scale and large-
scale stores. Some of them are

general public. Now it can specially
target the infant child and senior
citizens by offering products according
to their needs and requirements.
Sansbury, ASDA and JS supermarkets.
 Their is improper availabiltiy of funds
for the company so they are unable to
adopt the latest technologies because of
this there is shift of consumers towards
other competitors using latest
techniques for production at lower
rates.
External Analysis of Unicorn Grocery
POLITICAL FACTORS
 The company for selling organic food,
fresh food must comply with food
hygiene regulations 2006. Also,
Unicorn should emphasis on protecting
the consumers from various health risks
(Martin and Javalgi, 2016).
 The government of UK gives free
market economy with less regulations
for small businesses by restricting the
growth of large-scale enterprises.
 Plastic Tax has been levied on
companies for minimising the impact of
packaging on the environment and
encourages grocery retailers to change
their conventional packaging process.
ECONOMIC FACTORS
 The business of Unicorn will be highly
influenced by the economic condition
of the country and because of
globalisation the company can invest in
the international market (Miles and et.
al., 2015).
 Their is huge influence on the
profitability and customer base because
UK government has implemented VAT
on certain grocery items and some of
products are exempted from the VAT.
SOCIAL FACTORS
 The social factors has impact on the
grocery store in UK. Various social
TECHNOLOGICAL FACTORS
 Technological advancements have
direct impact on the grocery industry of

factors comprises of values, attitudes,
lifestyle, demographic etc. if there are
any changes in these factors this leads
to either threat or opportunity for
Unicorn.
 Their is change in purchasing
behaviour of consumers as now they
are focusing on health and standard of
living. So, Unicorn offers organic and
fresh food stuffs to fulfil demands of
consumers.
 Any changes in demographics for
example changes in age structure
influences the offerings of Unicorn.
UK. The Unicorn Grocery Store if
adopts updated technologies than their
will increase in market share as well
increment in profits as well.
 To maintain customer relationship
Unicorn provides certain vouchers and
also restrict them to shift to other
competitors.
 Unicorn can adopt Radio Frequency
Identification Device which helps in
maintaining records of customers which
helps owners of Unicorn for monitoring
data for future use.
BCG Matrix-
STARS
 The products and services offered by
unicorn grocery store are healthy and
organic food products so this helps to
generate cash for the company. If this
stage is maintained than the company
can achieve cash cows.
QUESTION MARK
 In the present context, unicorn is
dealing some of the organic food
products which are generating cash for
the company but the growth potential is
slow. This stage suggests that unicorn
grocery store must make investments to
attain star stage
CASH COWS
 If the growth rate of market is slow the
unicorn grocery store is generating a
lot of cash by selling their products and
DOGS
 This part of matrix shows that Unicorn
grocery store is selling some of organic
and household products and have low

investment is not much required. market share with slow growth rate.
This shows that there is trap for the
company as the is invested in the
market.
PIMS- This is known as profit impact of marketing strategy which is related to various
principles to gain competitive advantage for long term. It is adopted by managers of
unicorn grocery store as this helps us in getting empirical evidence of the different
strategies which leads towards success at both international and domestic level. It help to
attain success by analysing certain factors such as costs, capital investment, quality of
product and market position.
Porter's Five model- this model is adopted by unicorn grocery store which helps to identify and
analysis the various competitive forces which helps to know about their weakness,
strengths and ways to remain competitive in the market. The profitability of Unicorn
Grocery Store is highly influenced by rivalry firms, new market entrants, customers,
suppliers and substitute products. The proper analysis if made by managers unicorn will
also help to gain competitive advantage.
Mc Kinsey 7S- This is framework which helps to know about the organisational effectiveness
by understanding of seven internal factors in the organisation. The elements of this model
includes strategy, structure, system, shared values,skills, staff and styles. This is considered
as strategic tool for managers of Unicorn grocery store as it helps to remain competitive in
the market by achieving long term success.
TOWS analysis- It is a tool used by unicorn grocery stores in order to formulate, select as well
as compare their strategies. TOWS matrix particularly used by managers in the field of
marketing and business administration. With the help of this matrix, company can generate
innovate ideas for effective marketing strategies.

2.Objective of the study
 To increase the audience on company's website by 10% with the help of social media
marketing plan by the next 4 months.
 To increase the sales of organisation by 2.5% by using social media marketing plan by
the end of 4 months.
 To enhance the share of company in global market place by 3% by the next 4 months
 To enhance the customer base by 10% owing to social media plan by the end of 4 months
 To increase the social media insights by 20% with the help of marketing plan by the
upcoming 4 months.
 To increase the use of social media such as You tube, Facebook and Twitter as well as
discuss the current position and future development.
Develop the business in 2 different platforms and where they arrive in the next 4 months.
Management team of the company develop their business on two platforms which
includes online as well as offline. In the online method, management team of the company start
promoting and selling their goods and services to their customers with the help of social media.
On the other hand, offline platform is the traditional method of running a business. With the help
of online method, company can promote their products at international level. As a result
company will be able to attract large number of customers across the world which can help them
to increase their market share along with the profitability of company.
3.Target Audience of Unicorn Grocery Store
Segmentation- The foremost step is segmentation which is concerned with dividing the
overall market into various segments for products offered by the company. The segmentation is
done on the basis of Demographic, behavioural and geographical basis. In this part main
emphasis is given to needs of consumers rather than other variables. As, unicorn is small scale
business the segmentation is done on the basis of income, lifestyles, purchasing behaviour and
regional. Majorly Unicorn segment for social media marketing is concerned with people having
different lifestyles with similar demands (Nijssen, 2017).
Targeting- After segmentation of the market the need for target market arises which is
related to area, size, profit and growth rate of each market segment. A target market is a group of
customers to whom organisations wants to sell their goods and services. It is generally

categorised by income, lifestyle, age, gender, location of the customer. All these factors highly
affect the buying behaviour of consumers. For instance, target customer segment for Unicorn
represents those who are health conscious and mainly focuses on quality of products. The main
target audience for Unicorn are consumers who want to raise their standard of living in effective
manner. As,Unicorn deals with organic food stuff, organic food and freshly prepared food so
customers are highly satisfied. With the help of social media marketing plan, company will be
able to grab attention from large number of customers which as a result increase their market
share within less time period. It is a cost effective technique for promoting product to the target
market and more customers will able to reach the stores with the help of social media platforms
(Whalen and Akaka, 2016).
Positioning-This stage involves developing image in the market among customers and
knowing about the perception of customers about the products and services being offered to
them. This stage is all about communicating the overall benefits and unique values which will
help to maintain the customer base of the company (Whalen and et. al., 2016). Unicorn Grocery
Store provides customers with organic food stuffs, and fresh food at low prices with quality
products. The company uses various social media marketing tools such as Facebook, twitter,
LinkedIn etc. for promotion of its offerings in the marketplace.
Strategy- If Unicorn Grocery is using You Tube for promoting their goods and services,
they can grab attention from large number of customers. Reason behind this is that, it is one of
the platform used by each and every person all over the world. For instance, when an individual
start playing a video on You tube, company should promote their brand with the help of
advertisement. Unicorn Grocery will be able to grab attention of large number of customers. As a
result, it will increase the profitability as well as market share of the company.
4.Social Media Zones And Vehicles
Social media marketing refers to the concept of carrying out marketing activities at social
media platforms such as Facebook, Instagram, blogs etc (Lodish and et. al., 2015). Their are
four zones of for social media marketing which revolves around technology, principles of shared
values and relationship with customers. Some of the zones are defined below:-
1. SOCIAL COMMUNITY- This channel emphasis on customer relationships and
customers having common interest. So, social communities are characterised by two-way
communication, collaboration, conversation and transferring of experiences and opinions.

The main reason behind formation of social communities is building and maintaining
relationships with customers. The various channels included in social communities are
social media platforms, message boards and websites for consumer reviews and
enquiries. This channel helps to maintain effective and better relations between
customers and members of the Unicorn. For instance, unicorn is using CRM software this
will help in viewing purchasing behaviour of the consumers, and understanding about the
overall behaviour of the customers. Further this allows customers to share their
experiences and began socializing with other customers.
2. SOCIAL COMMERCE- This is known as utilisation of social media platforms to aid
in buying and selling of products at online basis. Social commerce helps to take
advantage of knowing about the shopping behaviours while interactions of consumers
during online shopping with their experience. The different channels of social commerce
consist of ratings,reviews, customer relationship management and online retail stores
which operates on the sites of Facebook (Yang and Gabrielsson, 2017).
5.Experience strategy using selected zones
1. The experience of consumers can be build by wide use of social media platforms so that
they become more loyal towards company.
2. To utilise the prevailing applications to build the interest of the consumers.
3. The consumers experience can be enhanced by using games and certain prizes so that
customers get whole information regarding what Unicorn Grocery store is all about.
4. Their should be creation of community feel by sharing of items of company on social
media channels.
5. To change the layout of the website as per the changing environment so that more and
more customers are attracted towards company.
6.
6.Activation Plan
The marketing plan of the company must be prepared with the use of social media which
will further help in gaining more recognition throughout the internet and social media. Certain
promotion techniques must be utilised to increase the recognition of brand of the company in the

market. Also, to maintain the interest of the people in the company sweepstakes and special
prizes can be given to consumers (Kilenthong, Hultman and Hills, 2016).
New features can be added to the existing products or catalogue of the company. Their
should be more advertising campaigns for increasing the knowledge base of consumers. Also,
more sharing must be done on Facebook for products of the company so that there is increase in
number of customer base on the social media platforms.

7.Manage and Measure
The companies performance can be measured for social media channels by knowing
about number of followers on social media, communities , likes of consumers on the products of
the company, viewpoints of the consumers which can be either positive or negative about
products offered by company (Whalen and Akaka, 2016). Also, analysing total check-ins on the
website of the company, and total sales of products in the market as this will help to determine
the position of company in the market. If there are any deviations after this analysis than certain

measures can be taken to overcome this situation and build good position in the market. The
managers of Unicorn adopted the Profit Impact of marketing strategy which will help to generate
more and increased profits at both interactional and local level.
Their should be proper management of funds of the company as it is small scale business
which has limited availability of funds. The funds must be allocated effectively and efficiently
as per the requirements of the company. The budget plan prepared by members of the company
should be made after considering all the factors of the internal and external analysis (Lodish and
et. al., 2015). It is the duty as well as responsibility of management team of Unicorn Grocery to
manage as well as measure whether the will be able to achieve the target or they need more funds
or materials. In addition to this, it is also necessary to measure the actual as well as standards
decided by company in advance.
CONCLUSION
From the above report, it has been summarised about the internal, external analysis of the
company. It has also mentioned about the effectiveness of social media marketing plan on the
business organisation. Further, the insights of target audience for the company has been
discussed along with the STP approach for the company. STP is known as Segmentation,
targeting and positioning. Also, experience strategies are discussed along with selected social
media zones and vehicles. Moreover, the four months social media marketing plan has been
prepared along with justification of all marketing decisions taken. Lastly,from the report it can be
concluded about the measures to be taken for deviations and management of cost and budget.

REFERENCES
Books and Journals
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