Entrepreneurial Marketing: Strategies and Challenges for Bold Street Coffee Shop

Entrepreneurial Marketing ( 2019-2020)
TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11
APENDIX A- PowerPoint Presentation..................................................................12
APENDIX B- Activity log..................................................................................21
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INTRODUCTION
Entrepreneurial Marketing gives opportunity to different entrepreneurs for
promoting their products and services at the large scale in the market. An entrepreneur
is always required to use various innovative marketing strategies for promoting its
enterprise in the market. According to different business experts, top-level management
within each enterprise or venture need to find out most appropriate strategies for
boosting its brand image in the market, otherwise that particular venture or enterprise
can’t survive in the market.
This report discusses marketing aspect of Bold Street Coffee Shop. It is a small
coffee café business situated in Liverpool, England. This small coffee shop was
established in 2009, in which from establishment to date, this business has gained
many of customers. Currently approx. 75 employees are working in this café. So that,
this shop is a symbol of a SME, because a SME (Small and Medium-Sized Enterprise)
always has minimum number of employees. There are some major challenges and
issues of SME’s also have been discussed in this report which they have faced while
conducting marketing operations. The main reason behind discussing this topic is to
deeply know the actual implications of marketing in a SME and entrepreneurship.
Main Body
Subject-Specific Knowledge, Understanding & Application
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This statement is completely true that marketing function of an SME is
completely different from medium and large-sized businesses (Imen and Lassâd, 2019).
There shop is also a small business of the United Kingdom, in which its marketing
functions are not similar as big or medium-sized businesses. Basically, marketing
functions of a company is completely depending on its budget. In this situation, currently
medium and large-sized businesses are only able to invest huge fund for running their
marketing operations.
On the other side, most SMEs within market are not capable to investing huge
fund in their marketing functions, because they always have limited fund that they use in
their various business operations. That’s why lack of fund is the main factor which has
maintained difference between marketing functions of SME and large-sized businesses.
In this dynamic and modern world, every business is trying to run different marketing
campaigns within different market segments. In this situation, small businesses as shop
also put their great efforts for promoting its brand in the United Kingdom. It means every
business has required running marketing functions in the market; otherwise that
business can’t stand within the highly competitive market.
Strategies
Marketing strategies of cafe are completely different from any other big or large-
sized business, because this is a small business of the United Kingdom which is not
able to hire some high qualified strategy makers in its business environment (Ismailand
Zainol, 2018). Basically, most SMEs can easily run their marketing functions with
ordinary strategies. In this situation, existing coffee café business also using various
ordinary marketing strategies for many years. Currently this business is not able to
afford some strategy experts. That’s why this coffee business is not using well-
developed marketing strategies in its business environment. Marketing strategies which
has used by cafe are not same as large or medium-sized business. Basically, a small
business mostly not able to such marketing strategies which has used by big sized
businesses, because small businesses not has appropriate fund to develop very
effective marketing strategies as big-size businesses. That’s why most SME always
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uses ordinary marketing strategies. Only few small businesses exists in the market
which uses some effective and productive marketing strategies.
Marketing team
The SME doesn’t have marketing team with large number of employees,
because it’s upper management mainly responsible to conduct various marketing
functions in its business environment. On the other side, medium or large-sized
businesses always have an effective marketing team which always highly contributes in
overall growth of these businesses.
Basically, these medium and large-sized businesses are able to provide
appropriate salary to its different marketers. There is this small coffee shop is not able
to provide huge fund in the form of salary to various marketers. That’s why marketing
functions are fully managed by upper management within this small coffee café
business.
Marketing platforms
Currently there are lots of marketing platforms available to this SME, in which this
small business is able to use only few which are easily affordable to it (Zhuand
Matsuno,2016). For example; television advertising, newspaper, radio, web marketing,
social media marketing, social media, sponsorship, affiliate, etc. are some major
marketing platforms in this dynamic and modern world.
But this coffee business is not able to use these all marketing platforms as
medium and large-sized businesses used, because they are not affordable to this small
business. Currently top-level management of this SME can use radio, newspaper and
social media marketing platforms, because these are not much costly. On the other
side, television advertising, sponsorship, web marketing etc. are some such platforms
which not has afforded by this coffee business.
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Size and scope
Size and scope also highly matter for a business while conducting different
marketing functions. For example; the size and scope of coffee shop is very small, in
which this business no need to invest huge fund as medium and large-business has
invested (Morrish and et.al. 2020). This small coffee café business is only required
influence people in a limited Liverpool, London area, because its most customers come
from only this area only. Of course, currently upper management of this coffee shop
focuses on expanding its business operations at across the England, and then across
the UK, but currently it only needs to use just few funds for systematically running its
various marketing functions.
Budget
Budget is one of the most important things to a business which plays excellent
role conducting different marketing strategies. Currently the bold street coffee has very
limited budget for its marketing functions (Ramos, 2016). On the other side, when we
talk about the medium and large-sized businesses, these businesses always have very
huge fund or budget for running their marketing functions. This is the main reason that,
marketing functions of a small business are fully different from medium and large-sized
business.
Due to low budget, bold street coffee is not able to use various innovative
marketing platforms, like; broadcasting, television, sponsorship etc. On the other side,
medium and large-sized businesses can easily use these all platforms, because they
have enough budgets for different marketing operations and activities.
On the basis of these all factors, a SME can’t run its marketing functions as large or
medium-sized businesses. In this situation, this small shop can invest huge fund for
running its marketing functions as big or large business, but due to limited budget this
company conducts only such marketing activities in its business environment which are
too essential to it.
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“Standard” marketing theory and practice
There is “standard theory”: is one of the best SME and entrepreneurial marketing
theories which can support to deeply understand various marketing specifications and
attributes of SMEs (Pop and et.al. 2016). According to entrepreneurship theory, when
an entrepreneur starts a business, or enterprise, on that initial time period mostly new
entrepreneur not has appropriate fund for boosting its marketing functions. In this
situation, new entrepreneur not able to run its different marketing functions as big
successful entrepreneur. This theory said that, every large-sized always has a small
business in its initial stage. It means, a large business also was faced different
difficulties in its initial stage to systematically run its marketing functions.
That’s why upper management of shop should always take various innovative
steps to towards continuous improving its marketing strategies for gaining very excellent
results in the market. In this situation, this small coffee business need to systematically
run its existing marketing functions, because currently marketing is the only way to this
small business which can give opportunity to its upper management of effectively
promoting its brand within the market. According to theory of entrepreneurship, owner or
upper management within a small business is always highly required to put its some
additional efforts, because there are already has very high competition in the market.
Employability & Change maker Skills
There are various productive skills has been discussed below which the
management of SME should be developed for gaining huge profit.
Problem-solving: Problem-solving skill is very productive that can support to the
management of coffee café for solving different problems and difficulties in the
workplace. Basically, a SME faces problems and challenges in its daily
operations. For example; a small business face problem in raising fund in the
market, so that this skill support to coffee shop owner for easily dealing with
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