Entrepreneurial Marketing Practices: A Case Study of Inter-Flora

The report examines how small and medium-sized enterprises (SMEs) implement entrepreneurial marketing practices, focusing on Inter-flora's business strategies. By analyzing the 7 Ps—product, price, place, promotion, people, process, and physical evidence—it highlights how these elements are utilized to create competitive advantages and attract customers. The report emphasizes innovation as a key driver in entrepreneurial marketing, showcasing how SMEs adapt traditional marketing theories for more dynamic market conditions.

ENTREPRENEURIAL
MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................1
Critically evaluate relevant SME and entrepreneurial theory and provide critical
understanding regarding marketing practices.............................................................................1
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Entrepreneurial marketing is term that is defined as unique set of marketing methods and
entrepreneurs (Mankgele and Fatoki, 2018). Under it, there are different methods that deals with
entrepreneurs, small businesses, start ups and to take initiatives in order to build sustainable
business.
The present report is based on business activities of Inter-flora flowers, it is most trusted
firm that deals in flower deliver for each occasion. Furthermore, report will critically evaluate
and discuss entrepreneurial theory and provide marketing practice to use support evidence. In
order to make this report effectively, the researcher will have the use of two different practices as
word of mouth, opportunistic and innovative etc.
Critically evaluate relevant SME and entrepreneurial theory and provide critical understanding
regarding marketing practices.
Evaluation of SME-
The small and medium size enterprise are termed out as non subsidiary, independent
firms that employ fewer number of employees. In addition to it, small and medium enterprise
decided by number of employees and revenues. Thus, small medium enterprise can be termed
out as small and medium sized enterprise. The number of employees are fewer than 250
employees. In addition to it, there were total almost 5.2 million SMEs in UK as per the statistics
of 2014 (Glaveli and Geormas, 2018). Therefore, micro businesses are businesses with 0-9
employees.
Entrepreneurial theory regarding market practices-
To give start to a venture is about courage, dreaming and believing abilities for longest
times. Thus, enterprisers takes a lot of steps to take further steps. Thus, it is process that plays the
biggest role. No matter what is size of enterprise but it is all about taking actions that aids to
attract customers. The pace of change in technology and media today plays the essential role and
it defined as-
Better product- It is crucial to come up with commodities that aids to attract the customers in
market. Therefore, better product do not always leads to different and to be expensive. The
commodities must be avail at better quality and attractive price rates.
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Unique strategy- The term strategy defined as plan of action. Without implementing a better
strategy the innovation would be of no use (Best Marketing Practices For Entrepreneurs, 2016.
). Therefore, it is essential to build better action that can lead to perform all things in better
mode.
Creative and listen customer desires- In order to attract customer it is essential to listen their
advise. Thus, modification must be come up with trends presents within market. Therefore, all
needs must be paid close attention and needs of customer needs to be analysed.
Creation of experience- The sales, digital, product, finance and technical etc. aids to create an
experience also helps to give birth to the unique experiences. Therefore, samples of commodities
must be given so that a better experience of customer aids to define the value and importance of
product within market.
Market for the right reason- The goals and strategies must be kept in mind so that each things
can be functioned in proper and adequate mode. In addition to it, building bond between
strategies and goals aids to conduct each activities effectively.
OTHER BEST PRACTICES MODELS ARE AS-
Word of mouth- The advertisement approach as world mouth advertising will be helpful in
order to market the commodities. It is one of the suitable method that aids to attract the
customers in market. In addition to it, this can be said that spreading information with this tool
aids to utilise the components of viral marketing. This is the most powerful terms to marketing in
order to promote business activities (Viswanathan, 2018). It can be done with help of sources as
Facebook likes, Twitter, customer testimonials and message forums etc. Therefore, world of
mouth is helpful process that aids make better human interactions. This term also aids to promote
better ideas that aids to conduct the business functions appropriately.
In this modern age, the lost of people relay over social media tools and it aids to conduct
market operations systematically. Thus, innovative companies do their work in differently
manner. By improving the process of creating the product aids to gain competitive advantage
within enterprise.
Innovative practices- The process of innovation is crucial to promote the enterprise in better
and effective manner. Thus, changing in practices is kind of demands that ask by customers. In
order to establish business successfully, it is crucial to have the use of technical advancement
that attracts customers. Innovation is term that is more than product and services and it also aids
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to improvize the process creation of commodities, selling them, experiencing it and to have long
termed profitability and productivity in market. Therefore, it can be stated that innovation is one
of significant positive change. By hiring the creative people within enterprise, the enterprise can
able to deal with changes. In the companies like Inter-flora flowers, it is essential to have
creative thinking skills so that better creation of product can be done. It is process that aids to
attract customers in market. Innovation aids to bring systematic approach and it also aids to
enhance the working of enterprise. Therefore, it can be termed out as most innovative firm thinks
differently as compare to others so that they are able to develop the culture of creativity.
7' PS BASED ON INTER-FLORA FLOWERS-
The marketing mix aids to define the strategy that aids to conduct function in appropriate
manner. Thus, marketing mix process inclusive of-
Place- It is term that relates with choosing location so that business activities of firm like inter-
flora can be run successfully. Thus, location aids to attract the customers. For example- The
florist shop needs to be established near ceremony garden, wedding locations so that wide
number of customers can get attracted towards it. The place must be in the better location so that
the large number of customer attracts and it must be in posh area.
Price- The price of product is also plays crucial role in terms to gather the attraction of
customers. Thus, customer should allot better services at the reasonable prices so that it can be
possible to gain competitive advantage within market (Yunus and et.al., 2018). There are number
of prince strategies as cost plus pricing, cost leadership, skimming, market penetration, break
even point. Therefore, the firm will use cost plus pricing and competitive pricing as in market
there are lot of competitors. By providing the better quality at the affordable rates leads to
maintain the customer portfolio in firm.
Promotions- The florist shop inclusive of marketing options as online approach, sample
products, rent an outlet etc. Therefore, with help of promotion it can be easy to strengthen the
image within market. By the use of social media accounts and website the people can be aware
about the upcoming promotions. In order to promote the entity need to offer discount facikities
for the firm time visitors.
Product- This is something that needs huge modification so that the marketers can provide
something different from others. Thus, it can be stated that product plan includes variety, quality,
design, features, brand name and warranty. Thus enterprise is taking initiatuive to provide teh
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product services in manner as flower, flower bucket, floral product, decorational services and
jwellary. Thus, different quality of flowers and number of barieties always attracts customers.
People- By hiring teh creative people, the enterprise can able to bring modifications effectively.
This aids to enhance competitive advantage within mrfket. By hiring skilled and creative
employees at workplace it can be possible to render better services to customers. The effectiev
people leads to perform their work in more better manner.
Process- The shop keepers needs to vain varied services as home delivery, decoration, wedding
delivery etc. This startegy aids to have different image in market. Thus, customers are needed to
provide better and fast services. In this, the needs and desires of buyers must be known so that
customers can perform their work effectively. Delay in services lead negatively impact the
working practices of enterprise.
Physical evidence- The interior and exterior attribute aids to strengthen the brand image of
enterprise. Therefore, it must be inclusive of better builduings, signs, logos and business cards
etc. The intrior must be relate with flowers and attractive fragnances so that visitor can get
attracted with help fo decorum.
SELF ASSESSMENT-
By conduicting this report I came to know about the depth of entrepreneurial marketing. I
came to know that how small managment firm take inititives to start their bsuiness activities at
larger scale. Here, I have discussed about the activities of Inter-flora that how firm needs to
render it services if it opens at any new place. In this, i have conducted 7 Ps that has helped me
to gather the depth knowledge about marketing.
CONCLUSION
Hereby, it can be concluded that entrepreneurial marketing works as to bring innovations
so that customer can get attracted towards entity. In this report, the activities has been covered as
best practices of marketing and 7Ps related with firm.
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REFERENCES
Book & Journal
Mankgele, K.P. and Fatoki, O., 2018. AN ANALYSIS OF THE BUSINESS PRACTICES AND
WORK ETHICS OF NATIVE AND IMMIGRANT ENTREPRENEURS IN SOUTH
AFRICA. Academy of Entrepreneurship Journal.
Glaveli, N. and Geormas, K., 2018. Doing well and doing good: Exploring how strategic and
market orientation impacts social enterprise performance. International Journal of
Entrepreneurial Behavior & Research. 24(1). pp.147-170.
Viswanathan, M., 2018. Envisioning Marketing Advances in an Era of Disruptions: A Bottom-up
Perspective from Subsistence Marketplaces. Handbook of Advances in Marketing in an
Era of Disruptions: Essays in Honour of Jagdish N. Sheth.
Yunus, N and et.al., 2018. The Influences of Marketing, Entrepreneurship and Learning
Orientations Towards Firm Performance of Malay Entrepreneurs in Perak. Management
Research Journal. 8(1). pp.21-31.
Online
Best Marketing Practices For Entrepreneurs. 2016. [Online] Available
thorugh:<http://ascentfoundation.in/best-marketing-practices-for-entrepreneurs/>.
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