Entrepreneurial Orientation and Nascent Firms' Marketing Strategy

This assignment investigates the nexus of customer focus, entrepreneurial orientation, and marketing strategies in nascent firms. It draws from academic sources such as Ellis (2011), Fillis & Rentschler (2010), Hall et al. (2012), McAuley (2010), Nakara et al. (2012), Oly Ndubisi & Iftikhar (2012), and Ratten & Ratten (2011). It also considers the role of social media marketing (Nakara et al., 2012) and the impact on performance (Oly Ndubisi & Iftikhar, 2012). Additionally, it incorporates practical insights from sources like Entrepreneurial Marketing (2012) and Latest Nestle Product (2012). Students are expected to analyze these resources critically and develop a well-supported argument on the topic.

MARKETING AND
ENTREPRENEURSHIP

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Marketing and entrepreneurship is an important concept for any business enterprise. Due
to increase in total competition need for marketing has raised to a great extent and hence it has
become crucial for all the business enterprise towards making its team effective (Bettiol, Di and
Finotto, 2012). In the given report different related concepts related to market will be discussed
in detail which will enhance the knowledge of user regarding the working of each factor.
TASK
1.
Serving our world is a non profit organisation which is dedicated towards the welfare of
children and work for improving the living standards of various neglected kids. It is an
orphanage where apart from children widow ladies and homeless people are given shed and
livelihood (Ratten, 2013). Their mission is to improvise the state of victims of war and different
medical issues or any other situation which leads to a unbearable condition for an individual. In
order to reach maximum share of market the given institute uses the concept of marketing to a
great extent although use of this system is different from that of profit based organisation as their
motive is profit earning. Management of this institute develops connection with the general pubic
by creating awareness among them through using internet and social media. Through these
sources they also get into touch with various donors which is very important for such institutes.
In order to give effective services availability of required funds is very much necessary which
can be done if more and more people are aware about the mission and aims of this institute
which can be effectively done by advertising (Eggers, Hansen and Davis, 2012). With the help of
new technology the cited organisation reaches to areas which were before non assemble. Apart
from this marketing also helped I using the advanced technology which further helps in saving
much cost as through innovative working ideas more people can be served in less time and also
resources are utilised to their full capacity.
2.
Billabong provides knowledge regarding the surfing, skiing and skating to the clients
which helps them in establishing good connection with its clients but it can not be said that the
given company is successful in giving the complete knowledge as very less detail data is given
regarding the offerings. Use of more pictures is done which are not sufficient for the clients to
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take the buying decision as before purchase clients do proper observation and comparison of the
product with other same industries products. Although the given web site is effective as proper
division of different category of products is done in a way that clients do not find it difficult in
selecting their desired choice of products (Ellis, 2011). Proper segmentation is done for the
convince of clients which help them in going through all the available variety of the given brand.
In order to distribute income in different territories companies need to follow a specific
procedure. It is a difficult task as management needs to make decisions regarding selection of
possessions which are not available for sales. Information has to be collected regarding the
wealth of that particular country. Tax statements can be utilised to get the relevant data. Apart
from this data regarding the cost of labour land and capital is also helpful as this has major effect
on the total operation of various enterprise (Fillis, and Rentschler, 2010). To take the investments
decisions returns play a more significant role than the investments as this will give the just
regarding how profitable it is to continue business in that specific territory.
Nestle is one of the most leading company which is providing health and nutritional
products to customers from a long period of time. It is working continuous in bringing
innovation in their existing products so that customer can be attracted to buy the services. It has
agreed to sale the Peter ice cream products including some other factories too. Nestle will
continue to invest in this company as it is assumed that it will give long term benefits to the
company. This way recent change are made in the food items like walnut whip's, NESCAFE
Azera Tins and like products. It shows that company is targeting on young generation. It is
evident from the fact that this age group people demand variety in products and like to taste such
eatables. These range of products targeted population who like to appropriate chocolate products
(Hall, 2012).
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There are various companies which are providing customers with with different services
like Uniliver, GSK and Procter & Gamble. Products which has high demand in the market are
sold here and hence for this marketing approach to maximise their sales. Customers are made
given knowledge about variety of products with the help of internet sites and other media as
digitalisation helps in reaching to more market share and also reaches to areas which are difficult
to access manually. As the products offered by the given companies has mix demand
segmentation of the whole market is of equal importance (McAuley, 2010). If these companies
are ranked according to their efficiency in doing the segmentation of market that Procter &
gamble comes on first than comes Unilever and at last the Gsk. By doing an effective research
companies can do improvements in dividing the whole market by making sections of those
customers who share common desires so that accordingly their demand can be full filled. This
way personal interaction can also be established with them which will help in receiving clients
feedbacks too which is very much effective in making the desired changes. In order to develop
more effective marketing division a complete different team should be develop who will be
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Illustration 1: Latest products launched by Nestle

ensuring that maximum market can be covered which will help in minimising the loss of
potential costumers.
Demographic changes are the changes that are taking place in the present birth rate and
migrations with the change in time. Rise ion income is a also a part of these changes. It has
provided various opportunities to the marketers as they get the chance of developing their
business in multi culture surroundings. As the demand increased and the industrialists could
increase their profit ratio by working more on producing goods that has more demand in the
market. Different section of business has received the advantage of this in which property
owners were considered to be at the top (Nakara, Benmoussa, and Jaouen, 2012). People who
has their own house can assess the pension and those who are on rent needs to live off to these
regular payment. This way people were motivated to buy their own property. It increased the
living standards of the people as culture of owning house increased to a very good level. After
this health care department was also benefited as baby boomer age rise the total demand of this
sector which contributes in the development of total income of those involve in this business.
Demand from them is more because they are at the age which require more attention as people of
this age group are more prone to get ill (Oly and Iftikhar, 2012). Thereafter travel department
will also receive high income from the baby boomer retirees. It is observed that the contribution
of old age people is maximum in travelling sector and will continue to rise in the coming years.
Also, the baby boomers requires more and frequent medical services that too be with an effective
standards. They spend much in their health so that they can continue to live free and can enjoy
the leisure time with maximum comforts. This shows that the total demographic changes brought
by this section of society's vital and has positive impact on many industries. Although their
portion in population may be less but their contribution in wealth creation is inevitable as they
spent more on recreation (Ratten, and Ratten, 2011).
CONCLUSION
From the above report it can be summarised that marketing is helpful in doing more
business and reaching to customers at distinct locations. It is effective tool to get the information
from the market which help companies in taking their decisions regarding making goods
available to customers. It is also given in the report that how through targeting more market
share. Later the given text discussed how baby boomers contribute in the growth of economy by
giving maximum share in sales of different discussed industries.
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REFERENCES
Books and Journals
Bettiol, M., Di Maria, E. and Finotto, V., 2012. Marketing in SMEs: the role of entrepreneurial
sensemaking. International Entrepreneurship and Management Journal. 8(2). pp.223-
248.
Eggers, F., Hansen, D.J. and Davis, A.E., 2012. Examining the relationship between customer
and entrepreneurial orientation on nascent firms’ marketing strategy. International
Entrepreneurship and Management Journal. 8(2). pp.203-222.
Ellis, P.D., 2011. Social ties and international entrepreneurship: Opportunities and constraints
affecting firm internationalization. Journal of International business studies. 42(1).
pp.99-127.
Fillis, I. and Rentschler, R., 2010. The role of creativity in entrepreneurship. Journal of
Enterprising Culture. 18(01). pp.49-81.
Hall, J., Matos, S., Sheehan, L. and Silvestre, B., 2012. Entrepreneurship and innovation at the
base of the pyramid: a recipe for inclusive growth or social exclusion?. Journal of
Management Studies. 49(4). pp.785-812.
McAuley, A., 2010. Looking back, going forward: reflecting on research into the SME
internationalisation process. Journal of research in Marketing and Entrepreneurship.
12(1). pp.21-41.
Nakara, W.A., Benmoussa, F.Z. and Jaouen, A., 2012. Entrepreneurship and social media
marketing: evidence from French small business. International Journal of
Entrepreneurship and Small Business. 16(4). pp.386-405.
Oly Ndubisi, N. and Iftikhar, K., 2012. Relationship between entrepreneurship, innovation and
performance: Comparing small and medium-size enterprises. Journal of Research in
Marketing and Entrepreneurship. 14(2). pp.214-236.
Ratten, V. and Ratten, H., 2011. International sport marketing: practical and future research
implications. Journal of Business & Industrial Marketing. 26(8). pp.614-620.
Ratten, V., 2013. Cloud computing: A social cognitive perspective of ethics, entrepreneurship,
technology marketing, computer self-efficacy and outcome expectancy on behavioural
intentions. Australasian Marketing Journal (AMJ). 21(3). pp.137-146.
ONLINE
Entrepreneurial Marketing. 2012. Available through <http://www.marketing-schools.org/types-
of-marketing/entrepreneurial-marketing.html>. [Accessed on 2nd September 2017].
Latest nestle product. 2012. Available through <https://www.siasat.pk/forum/forumdisplay.php?
46-Review-a-Business-Service>. [Accessed on 2nd September 2017]
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