ENTREPRENEURIAL MARKETING ES1: Proviz Sports Marketing Report

This report provides a comprehensive analysis of entrepreneurial marketing, focusing on the case of Proviz Sports. It begins with an overview of the company, highlighting its specialization in designing and producing sportswear. The report then delves into the application of entrepreneurial marketing concepts, including the FAB (Features, Advantages, Benefits) theory and the AIDA (Attention, Interest, Desire, Action) model, to understand Proviz Sports' marketing strategies. A detailed SWOT analysis is presented to evaluate the company's strengths, weaknesses, opportunities, and threats. Furthermore, the report explores critical marketing theories and practices, particularly word-of-mouth marketing and the importance of innovation. The conclusion summarizes the key findings, emphasizing the need for effective marketing strategies and innovation in a competitive environment. Recommendations are provided to help Proviz Sports' management to enhance their marketing efforts. The report aims to offer valuable insights into entrepreneurial marketing principles and their practical application in a real-world business context.

ENTREPRENEURIAL
MARKETING ES1

Table of Contents
INTRODUCTION ..........................................................................................................................1
Overview of the Organisation.....................................................................................................1
SWOT Analysis of Proviz Sports organisation..........................................................................2
Compare and Contrast Critical thinking on marketing theories and practices............................4
CONCLUSION................................................................................................................................6
RECOMMENDATION...................................................................................................................6
REFERENCES ...............................................................................................................................7

INTRODUCTION
Entrepreneurial Marketing is defined as the unique set of marketing practices and
methods which is used by the entrepreneurs , start ups and small businesses to market and build
sustainable businesses. It is the combination of the two discrete management areas. It involves
the combination of traditional market approaches as well as the principles of marketing. This
project is based on understanding the concept of entrepreneurial marketing. The chosen small
business enterprise is Proviz Sports (Bettiol, Di Maria and Finotto, 2012). It is a small business
enterprise which specialises in designing clothes and has a high production in sport clothes and
has various accessories for cycling and running. This report will focus on the concept of
entrepreneur marketing as well as considers the various operational issues related to the
marketing. Along with this it will also discusses various theories and practices regarding the best
marketing practices.
Overview of the Organisation
In context to the respective company which is Proviz Organisation focuses on providing
superior products to its customers. This organisation is founded by the two brothers Anthony and
Rupert Langly and was founded in 2008. They develop their own range of high visibility,
reflective clothing for cycling. Respective company provides high quality superior products and
remains competitive in the retail business environment. In order to provide attractive products
respective industry is following the two entrepreneur theories which is FAB and AIDA to
provide differentiated and qualitative products. These theories are discussed in below-
FAB- This theory stands for Features, Advantages and Benefits. This theory is normally
adopted by the small business regarding effective marketing of their products. These acronyms
are described as -
 Features- These are normally the characteristics of the product which is being offered to
the customers . These are the specific elements which is being added by the entrepreneur
to make their product differentiated and remain competitive in the market. Hence Proviz
Sports organisation provides specialised clothing which is high in quality according to the
customer demands which makes them highly competitive in the market (Hallbäck and
Gabrielsson, 2013).
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 Advantages- This is concerned with the benefits the customers get while using the
products of the respective organisation. Advantages the customers of the Proviz
organisation gets while using the product is of high quality clothes at an affordable price.
Various advantage the customer gets, highly the brand image of the organisation gets
enhanced in the market place (FAB Theory. 2016.).
 Benefits- This states that how the product of the Proviz organisation will help the
customers in meeting their needs. Benefits are the results that the features in the product
are useful to the customers and meet their needs. As Proviz sports wear provides products
to the customers according to their demands which results in high benefits to the
customers and enhances the demand of the product on a continuous basis in the
competitive market place (Hills and Hultman, 2013).
AIDA- It is the effective model of marketing which details how the organisation should
conduct advertising and the marketing campaigns to create awareness and engage customers
towards the product or the service. This acronym stands for Attention, Interest, Desire and
Action the way to which consumers are attracted towards the brand.
Attention- It is concerned with the awareness of the products in front of the customers.
There Proviz organisation is successful in gaining attention of the customers by designing
innovative products according to their demands.
Interest- When the customers are aware about the product, business organisations should
take effective steps to create interest of the customers in the product. Therefore Proviz
Organisation provides differentiated products to the customers which automatically creates
interest of the customers towards the product.
Desire- When the interest of the consumers started increasing towards the product it
creates a desire and influences them to purchase the product. With its innovative products, Proviz
organisation is influencing the buyers to buy the product (Ionita, 2012).
Action- When all the above steps are completed successfully by the respective
organisation,final action is being taken by the customers regarding the purchasing products.
SWOT Analysis of Proviz Sports organisation
SWOT analysis is a framework for identifying and analysing the internal and the external
factors which impacts the viability of a project, product, place or a person. It is a framework
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used to evaluate a company's competitive position and to develop strategic planning for the
organisation.
Strengths Weaknesses
 Providing products according to the
customers demand and that of high
innovative in nature makes them
differentiated in the organisation and
targets large number of customers.
 Marketing practices adopt by the Proviz
organisation creates high awareness
among the customers and persuades
them to buy (Jones, Suoranta and
Rowley, 2013).
 Respective organisation enjoys a
competitive advantage as it provides
products according to the requirement
of the customers, thereby maintains its
sustainability and competitiveness.
 As there are many competitors of the
Proviz organisation in the market,
company needs to continuously
innovate its products so as to remain
competitive and remains sustainable in
the market for a longer time period.
 Proviz organisation only targets the
needs and demands of the niche market
and therefore hinders it growth for
grasping the available business
opportunities.
Opportunities Threats
 As the respective organisation provides
quality and innovative products
according to the demands of the
customer it creates a positive image in
the minds of the customer and
maintains sustainability of the market.
 Because of the various competitors
present in this sector , it pose a great
threat of challenge to the respective
organisation to work effectively in
order to survive in the market.
 As because of the globalisation and
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 As the respective organisation provides
highly differentiated products, it targets
large number of customers and earns
high revenues for the company and
expand their business.
advancements in the technology
demand of the customer is increasing
which is becoming difficult for the
organisations to fulfil the demands of
every customer in the market.
Compare and Contrast Critical thinking on marketing theories and practices
Their are different theories and practices related to marketing of products is discussed in
detail as follows-
Word of Mouth- It is a marketing theory in which when a consumer's interest for the
particular product of the respective organisation is reflected in their dialogues. This is normally
triggered as a free advertising or the passing of information from person to person by oral
communication. It is considered as the non paid form of communication.
According to Eric Groves, it is the most essential and influential marketing strategy
which assist in the proper marketing of products. When there is word of mouth publicity for the
respective organisation it enhances the brand image of the company and therefore maintains the
sustainability of the organisation in the competitive market place. This helps in building strong
relationship with the respective organisation. Hence it is the most efficient marketing theory to
spread information and attract large number of customers (Long, 2013).
Word of mouth marketing theory can be done through oral communication as well as
through various types of advertising and marketing campaigns. This is the most efficient
marketing theory used by the respective organisations to attract large number of customers and
attains maximum profitability for the organisation.
Their are two types of word of mouth advertising campaigns which are discussed as
follows-
 Organic Word of Mouth- This is a natural practice of advertising the product as well as
targeting large number of customers. When the customers of the Proviz organisation are
happily satisfied with the products and the benefits derived from the customers, they
starting communicating the benefits to its customers. This influences other buyers to buy
the product of the respective small business enterprise.
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 Amplified word of mouth- It is the most effective marketing strategy opted by the
different business organisation which arranges various marketing and advertising
campaigns to create awareness about the product and influence the customers to buy the
product. This type of marketing practice helps the respective organisations in enhancing
larger share of the market.
This is the most effective marketing practice which is mostly relevant for the Proviz Sports
Organisation. It is the requirement of the various organisations to choose the most effective
marketing theory as away to promote its products and targets large number of customers. In
context to the specific business organisation which provides sport and cycling cloth products
according to the customers requirements. This would help them to remain sustainable in the
market for the long term and remain competitive. Moreover word of mouth is cost effective in
nature, respective organisation doesn't needs to allocate or manage different funds. From this it
can be determined that this type of promotional technique helps the respective business
organisation to create awareness without investing much resources.
Innovative- Innovation refers to the process of bringing change within the organisation, it
is the process of bring idea, solutions and various alternatives of doing work. Innovation is
therefore necessary for the organisation in order to cope up with the changes and remains
competitive in the market (O'Cass and Morrish, 2016).
According to David Burkus- Innovation is the application of the ideas in the daily
business practice. It involves the deliberate application of the information, imagination and
initiative in deriving different values from the resources and includes the way in which new ideas
are generated and converted into useful products.
In context to the Proviz Organisation which supply products according to the customer
demands. Under this situation innovation is the effective strategy which can be adopted by the
respective organisation in order to bring innovation in its sports products. In order to attract large
number of customers it is necessary for the business organisations to remain competitive and
remain sustain in the long run business.
Innovation and entrepreneurship are the essential ingredients in building a successful
commercial venture. Some of the business organisations interpret the innovation in a wrong
manner for them innovation is all about making changes in products and technology, but
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moreover innovation is also based on bringing change within the working ways as well as
changing ways in performing the work effectively.
Marketing theories are the specific set standards which makes the basis on which
different strategies and effective tools for promoting the products can be developed. A basic
marketing theory basically states that in order to maximise sales, a company must position its
products or services in the market place in such a way that a consumer gets highly attracted
towards the product and influences them to buy.
CONCLUSION
From the above project it has been concluded that business organisations needs to
develop effective marketing theories and the practices to gain success in the market and remain
competitive in this complex dynamic environment. Moreover in order to remain competitive
organisations needs to adopt the effective marketing theory and the different practices to create
awareness about its products and enhance larger market share. It is also been analysed that
organisations need to implement innovation in their business act ivies as to cope up with the
changes in the business environment. This greatly motivates the entrepreneur marketing in the
country and enhances the growth of the economy.
RECOMMENDATION
From the above project concluded it is been recommended to the the managers of Proviz
Sports organisation to make effective use of AIDA marketing theory which will help in
analysing and identifying the potential customers. This will help the respective organisation in
identifying the demands of the different customers and thereby providing products accordingly.
While analysing the strengths and weakness of the organisation it is also been analysed that there
are weakness upon the managers of the respective organisation should work and convert them
into the strengths. At last it is also been concluded to the Proviz organisation to provide more
qualitative and innovative products according to the demands of the customers so as to remain
competitive.
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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.
Hallbäck, J. and Gabrielsson, P., 2013. Entrepreneurial marketing strategies during the growth of
international new ventures originating in small and open economies. International
Business Review. 22(6). pp.1008-1020.
Hills, G. E. and Hultman, C., 2013. Entrepreneurial marketing: Conceptual and empirical
research opportunities. Entrepreneurship Research Journal. 3(4). pp.437-448.
Ionita, D., 2012. Entrepreneurial marketing: a new approach for challenging times. Management
& Marketing. 7(1). p.131.
Jones, R., Suoranta, M. and Rowley, J., 2013. Entrepreneurial marketing: a comparative study.
The Service Industries Journal. 33(7-8). pp.705-719.
Long, H. C., 2013. The relationship among learning orientation, market orientation,
entrepreneurial orientation, and firm performance of Vietnam marketing
communications firms. Philippine Management Review. 20.
O'Cass, A. and Morrish, S., 2016. Anatomy of entrepreneurial marketing. Journal of Strategic
Marketing. 24(1). pp.2-4.
Wallnöfer, M. and Hacklin, F., 2013. The business model in entrepreneurial marketing: A
communication perspective on business angels' opportunity interpretation. Industrial
Marketing Management. 42(5). pp.755-764.
Online
FAB Theory. 2016. [Online]. Available through:
<https://blog.fit4market.com/fab-technique/sales-methodology>
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