Entrepreneurial Marketing: Checkout.com Small Business Report

This report delves into the realm of entrepreneurial marketing, specifically examining the strategies and challenges faced by small businesses and new ventures within a global context. It begins by analyzing the distinguishing features of the small business marketing environment, highlighting the complexities and limited resources these businesses often encounter. The report then identifies key marketing operational issues, such as competitive advantage, exclusive selling schemes, and strategic competence, and how these impact businesses like Checkout.com. A critical comparison and contrast is made between standard marketing theory and the practices observed in small business research, emphasizing the role of innovation and adaptation. Furthermore, the report explores autonomous learning skills crucial for entrepreneurial success, including learning to learn, problem-solving, effective communication, and self-management. Core ideas and concepts are articulated, supported by relevant literature, to provide a comprehensive understanding of entrepreneurial marketing principles. The report uses Checkout.com as a case study to illustrate these concepts. The report emphasizes the importance of differentiation, innovation, and digital marketing strategies in achieving competitive advantage and sustainable growth.

Entrepreneurial Marketing

Table of Contents
Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Analyse the distinguishing features of the small business marketing environment...............1
Identify key marketing operational issues faced by new ventures and small business in
specified sector and industries in global context....................................................................2
Critically compare and contrast “standard” marketing theory and practice with that seen in the
small business research finding..............................................................................................3
Develop a autonomous learning skills which show abilities in learning to learn; problem
solving; effective communication and self-management.......................................................4
Articulate core ideas and concepts drawing on literature to support the conclusion.............5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Entrepreneurial marketing includes the different marketing strategies that are applied by
the entrepreneurs in order to market their products and services that supports to gain the better
competitive advantage. It includes different innovation that has more risk while in this the
entrepreneur’s remains proactive to manage the effective marketing (Alqahtani, 2018). It is the
campaign through which the entrepreneur highlights their strengths in order to emphasis more
values and belief of the customers. This report is based on the checkout.com that is proprietary
technology that manages the 100% part of payment process and founded by Guillaume Pousaz. It
is the report that includes the different features of the marketing environment for small business.
There are various key marketing operation issues that are faced by the new ventures of an
entrepreneur and the small businesses that work in the specified sector and the industries. There
are some of the standard marketing theories and the practices that are seen by the small business.
Furthermore, includes the autonomous leaning that reflects the learning style of the learners,
effectual communication and the self management that emphasis the employability and the
change maker skills. There are some core ideas and the concepts that support the skills of an
entrepreneurial marketing.
MAIN BODY
Analyse the distinguishing features of the small business marketing environment
The small business marketing environment is quite more complex and has faced a lot of
adverse effects that has a huge impact on the working performance on the entrepreneurial
marketing. The small ventures didn’t have an appropriate amount of fund that performs the
different operation to manage the marketing (Crick, 2018). They didn’t have the particular
assigned budget to manage and control the different functions that are related with the marketing
as they have the limited amount of financial support that balances the normal business functions.
In addition to this there a lot of competitor in the market that are performing the same kind of
business of similar products and services. If the business wants to gain the higher success then it
is necessary that they implement the different strategies and the tactics within the business that
helps to fight back in the competitive environment and make the strong connection with the large
number of customers for a longer period of time. It is mandatory that business could maintain the
balances sustainability within the business by which all the objectives will be achieved within the
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certain period of time by reducing the different marketing complexities. It is the responsibility of
the entrepreneurial business to provide the unique and creative services in the market by fulfil
the need and desire of the customers.
Thus the entrepreneurial business and the new ventures introduces the sufficient amount of
characteristics and the abilities to ensures that there goods and services will be differentiated
from the already present products and services. Thus they induce the different innovation and the
technological advancement in terms to attain the attractiveness of the maximum amount of
customers within the timely manner as it also develops the higher revenue to the business. The
small business uses the differentiation strategy in order to differentiate their own products and
services and they get the alternative of the market by which most of the customer gets attracted
towards their services (Fard, 2018). The small business first identifies and analyse the need and
requirement of the market and as per that induces the changes within their own services that
improvise the marketing standard of the business. They also manage the better flow of funds
with the maintenance of efficient supply and demand of the products within continuous period of
time. For this they contain the marketing survey and collecting the feedback and imply the
requirement changes within the business as per the requirement. It is the most sufficient strategy
that is used by the small businesses as they also takes the support of the digital platform as like
the social media in order to make the maximise the sale and growth.
Identify key marketing operational issues faced by new ventures and small business in specified
sector and industries in global context
There are different issues that are faced by the small businesses and the new ventures that
are varied as per the different marketing behaviour. These issues act as the barriers and they
resist the performance of the company and stop the sustainability from the business. These issues
could be generated when there are lack of experience and resources for the small business and
thus they could manager that with more effectiveness by implying the effective input that assist
the better outcome. For this the appropriate training and development will be provided to the
customers by whom the skills and working abilities of the staff will get enhanced and more
developed. The experience will get increases the working nature as it get affected from the
experience that is gained from the real time job. As from the marketing the better relationship
will be operated in between the business and the customers (Hisrich, 2018). There are some of
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the issues of marketing operational that are as faced by new ventures and small business in
global context and that are as defined below as:
Competitive Advantage: It is the prospect through which the small business as like
checkout.com that provide the easiest payment process to the customers. In order to gain higher
competitive advantage as per compare to the rivals they have to induce different changes by
maintain the best quality (Soelberg, 2018). For this they have to sale the different products and
services at lower prices by which they could gain the high profit and in this SME will get failed
and faces a lot of challenge.
Exclusive Selling scheme: In this the new venture must apply the different schemes and
the policy by which they could make the better communication with the people and they further
uses their services. It is hard for the small business to manage the actual flow of information
within the business and it result in the downfall of the company. It is hard for the checkout.com
to develop more sales and better outcome and provide the brief detailing to the customers. Thus
they didn’t make required amount of relation with the customers (Hoque, 2019).
Strategic Competence: To survive in the market it is necessary that business is full of
expertise and they have a better knowledge of the market and generate more opportunities for the
business that helps to gain better remuneration. Checkout.com faces the challenge to gain the
belief of the customers as they are more protective about their payment and shows less principle
in using the digital transactions.
Risk Assessment: It is the best knowledge of the market that has been generated while
making the effective analysis of the market. It is hard for the checkout.com to assess the market
risk that will be implemented in future period of time.
Critically compare and contrast “standard” marketing theory and practice with that seen in the
small business research finding
The standard marketing theory reflects the better understanding and the relationship with the
employees and the business. As in today’s scenario the market is all revolves around the digital
advancement everyone must get uses the digital tools and techniques in order to make h effective
representation of their products and services in front of the customers. The small businesses and
the new ventures perform their work with the limited amount of the resources and with restricted
number of funds (Jones, 2018). Thus they avoid the usage of the theory and safe their resources
and time and invest that amount to make their products more known in the market. They always
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try to improvise the services and thus they implement the uniqueness and the innovation within
the company instead of using the theories.
Checkout.com must use the innovation marketing in which their marketing is based on the
innovation and the development in the services. As per this they try to expend the payment
methods and spread more awareness about the different services to the customers by which they
make the better usage of those services. People are getting afraid of using the digital platform on
the other hand the world is moving forwards to digitalisation. In this it is very much typical for
the business to make the better utilisation of the resources and for the customer to choose the
safest and easiest services (Most, 2018). Thus as with the help of innovation strategies
Checkout.com coveys the better usage of their services by which most of the customers get start
using their services and in return of that company gains the higher profit.
Develop a autonomous learning skills which show abilities in learning to learn; problem solving;
effective communication and self-management
Autonomous learning skills is not only about getting motivated while taking and
understanding the concept of learning but also includes the ability of the business to gain the
beneficial outcome within appropriate period of time. It is the skills that will be updated and
enhanced on continuous basis. It is the skills that impart more balance and responsibilities in the
learner to work with more sufficiency. Autonomy is the skills that is depended on the interest of
an individual and depends upon their values and the interest. It is the ability to get learns
something with more relevancies; appreciate the point of view of all the people, making effective
debate with the others. They different autonomous skills will be developed as per the following
aspects:
 Check your understanding: In this everyone must try to known what they want to say
and what other people did as per the norm of learning. It shows the ability of learning in
which the people will try to understand the feeling of other and then comes on the
conclusion (Nouri, 2018).
 Embrace mistakes: It is the learning that shows the ability of the problem solving
approach in which all the people try to find out the loopholes. In this the analysis will be
performed that results in the better outcome and help to solve the different problems in
effective manner.
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 Maintain focus on the result: It shows the ability of self management in which an
individual will focus on the outcome and for this the whole project will get managed in
systematic manner. As in this the better and useful outcome will be achieved within the
timely manner that is helpful for the business.
Articulate core ideas and concepts drawing on literature to support the conclusion
The core idea behind the different marketing strategies that could be used by the small
businesses and the new ventures is that they use the different methods of innovation. As in this
the business innovate their products and the services and try to attain the maximum profit among
all the different competitors that exist in the same and the newer market. Entrepreneur business
gets enhances the productivity of the market and also controls the better flow of economy of the
country (Sadiku-Dushi, 2019). In this all the different business gets the benefits as from the
government that helps to expand the business with the minimum fund as well. Government also
provides a lot of support under the different schemes add that is more helpful to the business as
they get more relevancy and gets attracts with the large number of people with more sufficient
manner. The major idea behind the marketing concept of the company is to gain the more market
share and beat all their competitors as comparison to the sales and profit. For this the
Checkout.com must uses the different strategies and gain the belief and believe of the customer
and provides the easiest method to them while making their payment. It is beneficial to a lot of
people as they all wants to source by which they make their payment will more relevancies and
get connect with the services within minimum period of time.
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CONCLUSION
It has been concluded from the above report that entrepreneurial marketing is a way by
which they entrepreneur stand out as from their rivals or the competitors and presents their good
in the market with more effectiveness that develops the competency and entrepreneurs gains the
better benefits from their competitors. There are different issues that are faced by the small
business that resist their performance in the global context. The standard marketing theory that
helps to make the research and the different concepts that supports the entrepreneurial marketing.
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REFERENCES
Books and Journals
Alqahtani, N. and Uslay, C., 2018. Entrepreneurial marketing and firm performance: Synthesis
and conceptual development. Journal of Business Research.
Crick, J.M., Crick, D. and Chaudhry, S., 2018. Entrepreneurial marketing decision-making in
rapidly internationalising and de-internationalising start-up firms. Journal of Business
Research.
Fard, M.H. and Amiri, N.S., 2018. The effect of entrepreneurial marketing on halal food SMEs
performance. Journal of Islamic Marketing.
Hisrich, R.D. and Ramadani, V., 2018. Entrepreneurial Marketing: A Practical Managerial
Approach. Edward Elgar Publishing.
Hoque, A.S.M.M. and Awang, Z., 2019. Does gender difference play moderating role in the
relationship between entrepreneurial marketing and Bangladeshi SME
performance?. Accounting, 5(1), pp.35-52.
Jones, R. And et. al., 2018. Entrepreneurial marketing in small enterprises. In The SAGE
handbook of small business and entrepreneurship (pp. 297-320). SAGE Publications
Ltd.
Most, F., Conejo, F.J. and Cunningham, L.F., 2018. Bridging past and present entrepreneurial
marketing research. Journal of Research in Marketing and Entrepreneurship.
Nouri, P., Imanipour, N., Talebi, K. and Zali, M., 2018. Exploring Positive Outcomes of
Decision Making Biases in the Field of Entrepreneurial Marketing. Qualitative
Report, 23(6).
Sadiku-Dushi, N., Dana, L.P. and Ramadani, V., 2019. Entrepreneurial marketing dimensions
and SMEs performance. Journal of Business Research, 100, pp.86-99.
Soelberg, F., Lindberg, F. and Jensen, Ø., 2018. Entrepreneurial marketing in tourism and
hospitality: How marketing practices do not follow linear or cyclic processes. In The
Routledge Handbook of Destination Marketing (pp. 60-70). Routledge.
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