Entrepreneurial Marketing: Challenges and Strategies

This presentation discusses the challenges and strategies of entrepreneurial marketing, with a focus on Bold Street Coffee. It explores the contribution of SMEs in the economic growth of the UK and provides tips for attracting new customers and maintaining profitability. The presentation also compares the marketing approaches of big firms and SMEs.

Entrepreneurial
Marketing

Table of Contents
 Introduction
 Main Body
 Conclusion
 References

Introduction
 Entrepreneurial Marketing gives opportunity to different
entrepreneurs for promoting their products and services at
the large scale in the market.
 This presentation discusses various factors which has based
on this particular topic called entrepreneurial marketing.
 This presentation discusses marketing aspect of Bold Street
Coffee, it is a small coffee café business situated in
Liverpool, England
 There are some major challenges and issues of SMEs also
has been discussed in this presentation.

Main Body
 SME and entrepreneurial theory findings
 SME and entrepreneurial theory are very helpful in finding and
implementing appropriate business strategies.
 Exiting management within Bold Street Coffee should systematically
consider this theory in its business environment.
 According to theory, Bold Street Coffee is able to achieve excellent
results in the market by adopting various effective business strategies.

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 Statistics and supporting arguments
 Currently 5.9 million businesses are running in the United
Kingdom, in which 5.82 businesses are completely comes
under SMEs.
 It means, currently there are number of small businesses is
too high in the country.
 These 5.82 million businesses are 99.9% of the total
businesses of the UK.
 On the other side, SMEs are giving their great contribution
in overall economic growth of the United Kingdom.

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 Contribution of SMEs in the economic growth of the United Kingdom.

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 Tips
 Government of the United Kingdom should take various productive
decisions towards more increasing number of SMEs in the country.
 Reason is, SMEs’ generates the highest employment opportunities in
the UK.
 SMEs are helpful in the terms of gaining foreign exchange.

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 What are the main issues and challenges for SME?
 Attracting new customers
 This is very big challenge to the Bold Street Coffee , because
many these enterprises mostly no has enough fund to promote
their products and services through different marketing platforms.
 Maintaining profitability
 Maintain profitability is another major challenge for Bold Street
Coffee , because many new entrants are coming in the market on
daily basis.

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 Why big firms do not have such challenges?
 Branding
 Most big firms or ventures always has excellent brand image in the
market, in which this the main reason that they can easily attract lots of
new customers in the market.
 Market share
 Big firms already has gained large market share in their respective
industry. That’s why they able to properly maintain their profitability
index as well.

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 Innovative and entrepreneurial consideration in SMEs’ marketing
 Video streaming
 Currently Bold Street Coffee is able to take huge advantages through videos
streaming platforms, because these gives great opportunity for promoting its
products and services.
 Social media
 Nowadays social media is another effective platform to SME for promoting its
brand at the large scale in the market, so each SME should use this platform.

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 Two best practice methods
 Product differentiation Method
 This is very appropriate method to a Bold Street Coffee for gaining
huge competitive advantage in the market, because this method
maintains exclusiveness in any venture’s product and services.
 Competitive pricing method
 This method can give opportunity to Bold Street Coffee for
comparing own product price with competitors, so it is helpful in
attracting large customer base.

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 How do big firms do they marketing?
 Massive advertising
 Big firms always runs massive advertisement campaigns,
because they are able to expend huge fund in marketing
function.
 Pull strategy
 These firms use pull strategy also for properly fulfilling
actual demand of customers.

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 Comparison
 Bold Street Coffee is running its marketing campaigns with very less
budget, but big firms always ready invest huge fund for running their
marketing functions.
 Big firms always able to use more effective marketing strategies than
Bold Street Coffee as well.

Conclusion
 It can be concluded that Bold Street Coffee is able to take lots of
advantages through marketing.
 With the support of effective marketing strategies this small coffee
business will enable to compete with big firms as well.

References
 Imen, O. and Lassâd, P. L., 2019. The Mediating Role of
Entrepreneurial Marketing Education. Journal of Small Business and
Entrepreneurship. 7(2). pp.31-40.
 Ismail, M. and Zainol, F. A., 2018. A review on the evolution and
definition of entrepreneurial marketing. International Journal of
Academic Research in Business and Social Sciences. 8(5). pp.649-663.
 Zhu, Z. and Matsuno, K., 2016. Entrepreneurial proclivity: its
environmental conditions and growth consequences. Journal of
Strategic Marketing. 24(1). pp.20-33.