Entrepreneurial Marketing: Distinguishing Features and Operational Issues

This report discusses the distinguishing features of the small business marketing environment and the key marketing operational issues faced by new ventures and small businesses in a global context. It also compares and contrasts standard marketing theory with small business research findings.

Entrepreneurial
Marketing

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY ..................................................................................................................................3
Analyse the distinguishing features of the small business marketing environment ...................3
Identify the key marketing operational issues faced by the new ventures and small businesses
in specified sectors and industries within a global context ........................................................4
Critically compare and contrast standard marketing theory and practise which is seen in the
small business research findings ................................................................................................6
Develop autonomous learning skills which show abilities in learning to learn, problem
solving, effective communication and self management ...........................................................7
Articulate core ideas and concepts drawing on literature to support a conclusion ...................7
REFERENCES ...............................................................................................................................9
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INTRODUCTION
Entrepreneurial marketing is defined as the advertising and marketing of the
entrepreneurial idea of an individual. There is an increase in the importance of innovation and
entrepreneurship within marketing, successful entrepreneurship. This all has led in combining of
entrepreneurial marketing which focuses on adopting of marketing which are appropriate for
small and medium enterprises. The entrepreneurial marketing consists of adapting of marketing
in order to form small ventures to be effective. The following report will describe the
distinguishing features of the small business marketing environment. It includes the key
marketing operational issues of the new ventures. This includes comparing and contrasting
standard marketing theory (Anwar, and Daniel, 2016). There is discussion on autonomous
learning skills that show abilities for learning, problem solving, etc. This includes core ideas and
concepts of the entrepreneurial marketing.
MAIN BODY
Analyse the distinguishing features of the small business marketing environment
The small ventures business and marketers are engaged in a cautious marketing programs
because there is huge competition and insufficient financial capital. It is essential for the small
and medium enterprises to have good strategy for marketing as it is helpful in managing the
success of the venture. As there is huge competition in market for different sectors. Thus, there is
need for identifying several marketing strategies which can suit the resource. The new business
venture must be innovative so that people are attracted by the new idea. Small business ventures
have the option to adopt brand management. This is a strategy that is helpful for differentiating
the products from the already existing outlets and other big competitors. The small businesses
provide products and services at affordable price. The small ventures and small medium
enterprise analyse the needs and demands and design products. Moreover, the small business
ventures helps in increasing the loyalty of product as well as long interactions with clients and
consumers at personal level (de Sá, Farhangmehr, and Pinho, 2016). When people have the
inability to use expensive such as internet and promotion of product forces in engaging the
alternatives like oral communication. The loyal consumers of product spread positive word of
mouth to people. This is helpful in expansion of network. As the small and medium businesses
have limited resources and strong differentiation strategy, these businesses have to slow down

the products. It is easy to get unique and different product by using the customization technique.
Nowadays, small businesses can be effectively handled by using the social media networking.
This means the these business ventures can use combination of internet and collaboration with
the customer. The small businesses can use micro blogging and this is helpful for accessing the
customers effectively. This provides an avenue for the receiving of proper feedbacks. Social
media is used by many people today and this is the easiest way for capturing a lot of people
towards the products offered by the company. Small businesses can use social media for
promoting products among a large pool of potential customers in less time. The small ventures
have the ability to use Facebook, Instagram, Snap chat for making people aware about the
products and services offered by new business (Kilenthong, Hultman, and Hills, 2016). The use
of social media is very effective for the business venture as it is helpful in managing of all the
promotional activities in effective manner. Small businesses have the ability to attract a lot of
customers and it requires less amount of money to be used for marketing products.
A new small business venture of UK is Drink, Shop & Do. This is a place where people
can check off the boxes on the to do list. This business offers wares fashioned by the local
designers. There is a decadent afternoon tea option and at weekends, the place is transformed to
bar and dancing club. This place also offers craft classes, coffee tastings and speciality events
across the world.
Identify the key marketing operational issues faced by the new ventures and small businesses in
specified sectors and industries within a global context
There are some issues that are faced by the new venture and small businesses. One of the
issue is myriad operational issue. This explains the success within market. Another problem that
is faced by the new ventures is productive capacity for the goods, lack of information and access
to communication. When new ventures and businesses have the ability to use all these elements,
there are ways for grabbing maximum amount of sales and profit, cost saving and customer
base. The exporters who are working at small scale can be more successful by working in global
business. As internet usage has been increased, there is lowered cost of communication. This has
removed the barrier for reaching the potential customers in effective manner. The ability for
engaging in international transport of products and services has an essential role in business.
When the small businesses are able to afford international transport then it plays an important
role in accessing global markets. The new business ventures and small businesses have to adopt

generic business strategies in the business operations and activities. By using them, it is easy to
engage within product differentiation, reducing the cost of production and sale price. Marketing
is defined as the best strategy that can be used by small businesses to expand their market share
in international markets. The best example of this is a small business like any restaurant. This
can use three level advertising strategy of marketing that consists of advertising strategies
covering national, regional and community boundaries. The sales of this restaurant can be
increased by advertising it effectively (O'Cass, and Morrish, 2016). The advertisements of new
small business ventures can be done on TV and radio. This can increase the sales of the company
in less time. As there is insufficient fund with the small business thus, they have to engage in
website development for advertising their products and services. This enables to capture large
customer base. There was a study conducted in Australia in which for advancing the corporate
social responsibility within small businesses, they are not involved in such activities. The small
medium enterprises implemented the policies without aligning to the mission or vision of the
company. There is need for companies to implement CSR activities for building brand image and
reputation. The outsourcing of services is usually made to the small and medium sized
businesses. By using the outsourcing process, there is need for enhancing the supply chain
management of the company. The small enterprises have inadequate finance and thus it is not
easy for them to have access to resources and raw materials. When employees in small medium
enterprises leave the job, there is jeopardized of business operations. There are various
enterprises who are dependent on the staff and employees for doing all the activities of the
company. There are some small and medium enterprises which relied on the suppliers for
reducing the speed of the business operations and activities. New businesses are established from
the ideas which originated for the partners. In reference to Fiji, the sales of fish by the small and
medium sized organisations was hampered due to the poor transport network.
Critically compare and contrast standard marketing theory and practise which is seen in the small
business research findings
The concept of marketing is defined as the way by which community are gathered
because of the distributive process of products and services. Marketing is basically done between
two parties i.e. business and customers. In context of the small and medium sized enterprise, the
marketing of products and services is done through promoting the products and services. The
concept of marketing is consisting of people who have been moving the goods and services from

one stage to the other. The new ventures and small businesses always undergo a survey before
entering into new markets (Whalen, and Akaka, 2016). They have to launch and produce
products by analysing all the ethical considerations of the community. The small business
ventures conduct marketing research before launching it within marketplace. This provides an
idea about needs and demands of customers. The market structure is analysed by considering
economic, social as well as physical characteristics of the target market. The main objective of
any marketing activity is to provide an idea regarding the expectations of customers. The
preferences and likes and dislikes of people. Marketing of new products entails planing as well
as conducting feasibility studies in the new market. The concept of marketing consists of
assumption of reaching a customer base that is used in all media platforms for conveying
information to the consumers. There is no follow up and feedback sought from the customers by
the small business ventures. This can be defined as the difference with small businesses and they
are having a primary goal i.e. brand creation and the development of customer loyalty. These are
essential for embracing the practise for the effect of triggering consumers for purchasing the
products and services. This provides opportunity for small businesses due to the customer
interaction strategy. The plan is not able to handle products that are originating from the
industries. The main objective of the marketing theory is to enhance the sales and profit of the
company. There are some actions like advertising and promotions which are oriented with
transaction. The small businesses have to maintain good relation with the customers for
enhancing profits. A good customer relation is known as strategy that is used for overcoming the
financial limitation and conducting promotions. It is important for the small business ventures to
develop good brand image in order to enhance the sales.
Develop autonomous learning skills which show abilities in learning to learn, problem solving,
effective communication and self management
The term learner autonomy is known a concept that is used within education sector. This
was first introduced by Henri Holec. It is important for an individual to analyse all the goals and
objectives that are to be achieved by the individuals effectively. There are basically four main
advantages of the autonomous leader. Sometimes, students do not have support from the teachers
and thus it is important that they have to learn on their own. Another thing is that skills are
required in the learning autonomy for future. They are more proactive in the learning and
positive feeling is there which leads to development of motivation. The development of learner

autonomy consists of the way in which learning depends on how to learn and it is a difficult
process. The effectiveness in learning is developed by combination of teachers and peers. There
are some students who are not interested in social activity so they are to be involved in the
opportunities for developing future. Some of the tips for encouraging students in becoming
independent learner are mentioned below -
Providing students with opportunities to self monitor - The self monitoring of students depends
upon two processes for establishing objectives and taking feedbacks from customers. Students
are encouraged by self monitoring. There is opportunity for developing the use of self and peer
assessment.
Using question as scaffolding to independent learner - This means gradual transfer of the
responsibility from the teacher to student. This includes development of effective classroom
disclosure. This consists of asking of higher order skills questions from students.
Articulate core ideas and concepts drawing on literature to support a conclusion
There are different ways by which people transfer their ability of learning to other
individuals. This is dependent on a number of factors such as – individuals should be able to
attain threshold of the initial learning which is sufficient for supporting the transfer of learning. It
is essential that all the scenario of skill development is overlooked and this is assessed for taking
an account to degree in which learning with the understanding is accomplished. The students and
teachers can spend a lot of time for bridging gaps between them and maintaining a good relation.
This is helpful for students as they can clarify their doubts and issues in effective manner. The
learning with understanding is helpful in promoting transfer and not memorising information.
The two main skills on which student focuses is problem solving and time management. This
consists of managing all the activities effectively.

REFERENCES
Books and Journals
Anwar, M.N. and Daniel, E., 2016. Entrepreneurial marketing in online businesses. Qualitative
Market Research: An International Journal.
de Sá, E.S., Farhangmehr, M. and Pinho, J.C., 2016. The Context and Outcomes of
Entrepreneurial Marketing as a Decision-Making Process Under Uncertainty.
In Rediscovering the Essentiality of Marketing (pp. 353-354). Springer, Cham.
Kilenthong, P., Hultman, C.M. and Hills, G.E., 2016. Entrepreneurial orientation as the
determinant of entrepreneurial marketing behaviors. Journal of Small Business
Strategy, 26(2), pp.1-22.
O'Cass, A. and Morrish, S., 2016. Anatomy of entrepreneurial marketing. Journal of Strategic
Marketing, 24(1), pp.2-4.
Whalen, P.S. and Akaka, M.A., 2016. A dynamic market conceptualization for entrepreneurial
marketing: the co-creation of opportunities. Journal of Strategic Marketing, 24(1),
pp.61-75.