Entrepreneurial Marketing Report: Small Business Marketing Strategies

This report provides a comprehensive overview of entrepreneurial marketing, particularly focusing on small businesses. It begins by distinguishing the features of the small business marketing environment, using examples like Westmorland and Oliver Bonas to illustrate strengths, weaknesses, opportunities, and threats. The report then identifies key marketing operational issues faced by small businesses, such as lack of resources and the need to adapt to technological changes. A critical comparison between standard marketing theory and marketing practices is presented, including recommendations for small businesses. The report explores appropriate marketing tools within an operational framework, such as audience research and social media management, and analyzes the marketing mix for the example companies. It concludes by emphasizing the importance of customer satisfaction, adapting marketing theories, and adopting relevant marketing practices to achieve business goals. The report references several academic sources to support its analysis and findings.

ENTREPREUNERIAL
MARKETING

Executive Summary
This report summarizes as concepts of entrepreneurial
marketing such as small business marketing. With the help
of this analysis organisation able understand their strength
& weakness and operational issues faced by the business.

Table of Content
 Introduction
 Distinguish features of small business marketing environment
 Identify key marketing operational issues faced by the small businesses
 Critically compare the contrast standard marketing theory and
marketing practices
 Justify appropriate marketing tools within operational framework
 Conclusion
 References

Introduction
Entrepreneurial marketing is different from the traditional
marketing practices, it is less than about single marketing
strategies and more than about vital principle. It includes the
various principles in the entrepreneurial marketing which is
basically design for the big organisation.

Distinguish features of small
business marketing environment
Small businesses such as Westmorland or Oliver Bonas both are
retail sector companies. Westmorland company deals in food
business which include the roadside services. They build a base
from their local area and they don't have any franchises.

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Strengths: - Strength of the business is totally depend upon the market
competition and the consumer's demand. Small business required to
introduce the new offers, motivate their employees and identify the
competitors.
Weakness: - Because of the small business mostly people don't have
any idea about the company. People are unaware about company and
it's products so firstly business need to build those strategies who make
it aware between the consumers.

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Opportunities: - Small business have opportunity to grow through it's
innovation and employee motivation. Westmorland focus to improve
the community by giving them change to show their skills or efforts
and also by introducing variety in foods.
Threats: - Mostly business have same line of work which create the
competition in the market. So Westmorland try to innovate something
different which attract the customer and also retain them for long time
and also need to focus on product quality.

Identify key marketing operational issues
faced by the small businesses
Small business face the various issues because of the lack of time
because company required time for the identification of problem.
It also need time to analyse it or it will take time to solve it.
There are some issues faced by the chosen company are as
follow:
Lack of resources: - Small business required proper
planning to perform in the effectively in the market.

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Keeping up with technology and trends: - In the small business
environment, it is important to be flexible with the market changes and
able to adapt the change in technology. Small business required to
work according to the market trends and with the use of technology
they can achieve their targets very well.

Critically compare the contrast standard
marketing theory and marketing practices
Marketing theories help the organisation to how they can increase the
sale of their products in the market. By using appropriate theories
business change their marketing strategies and perform according to.
Marketing practices include those process who help the business to
achieve their organisational goals and targets it.

Recommendations for the small
business
 Through market research small business can identify the trends and
than introduce new products in the market.
 Use of technology also help the organisation to expand their
business or increase their profit margin.
 Provide customer service number for their feedback which help the
organisation to solve their issues and queries.

Marketing theory
4P's of Marketing mix: - Marketing mix include the four P's such as
product, price, place and promotion. It help the organisation to build
strategies for their newly introduced product. First P of marketing mix
is product it can be tangible goods or can be intangible services which
is going to introduce by the company for their customers according to
their demand.