A Comprehensive Report on Entrepreneurial Marketing for Proviz Sports

This report delves into the entrepreneurial marketing strategies employed by Proviz Sports, a British company specializing in high-visibility sportswear. It examines key operational issues, marketing tools, and practices, including the application of the FAB and AIDA models, and a SWOT analysis of the business. The report analyzes the importance of word-of-mouth marketing and innovation in the company's success. Furthermore, it compares and contrasts critical thinking on marketing theory and practices, with recommendations for future marketing strategies, emphasizing the importance of targeting niche markets and leveraging the AIDA model to attract both existing and potential customers and also suggests that the company should focus on converting its weaknesses into strengths to expand its business. The report concludes that entrepreneurial marketing and innovation are crucial for small businesses like Proviz Sports to enhance their market share and profitability.

Entrepreneurial
Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
CONCLUSION ...............................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Entrepreneurial marketing is the aggregation of two discrete administration areas. This
system of marketing has emerged to explain distinct factors of marketing which are often not
explained by existing traditional marketing concepts & theories. It also involves fundamental
principles and approaches which are helpful to develop marketing strategy. To better understand
this concept Proviz Sports has been chosen which is a small business enterprise. It is a British
corporation that is specialised in design & production of high visibility and reflective sportswear
& accessories for running and cycling. In this report there are following topics covered such as:
key operational issues and features in small business marketing and marketing tools. Apart from
this it also discuss about marketing practices, theories and operational framework has been
analysed.
MAIN BODY
Overview
The organisations like Proviz has emphasis to provide best products to its consumers in
order to satisfy their needs. The products of company are different and provide value to the
money which has spent by customers. The business has established by two persons named as
Rupert Langly Smith & Anthony. Corporation has evolved as a brand & business in the changing
retail business environment. In the market there are various competitors but Proviz is leading in
the market. The theories which are followed by organisation are FAB and AIDA that are mention
below:
FAB ( features, advantages & benefits): This specific theory has been adopted by the
company in order to develop effective marketing for the products of enterprise (Wales Gupta and
Mousa, 2013).
Features: These can be described as surface statements about products that provide by
corporation to their customers. As the products of Proviz has consist of some specific elements
which makes differentiation form the other products which are available in the market. In the
clothes of enterprise high visibility can be seen which attract more customers to buy it and it is
helpful to maximize the sales of enterprise.
Advantage: The main advantage is that company holds the superior position in the
market. Proviz provide quality products which is very comfortable to wear & accessories are
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available for all level of cyclist. The main advantage is that organisation has gain the benefit of
competitiveness because it is able to satisfy the demands of the consumers as a result revenues of
enterprise has been raised by 93 percent in the last three years (Sullivan Mort and Liesch, 2012).
Benefits: The features of products are helpful to give benefits to the consumers. As
Proviz provide quality products which can satisfy the demands of customers and it is beneficial
for the enterprise to gain the advantage of competitiveness. As a result, market share is
continuously increasing which leads to profit maximization.
AIDA: This specific model suggests that how advertisement & marketing communication
is beneficial to attract customers to choose the brand of company. It emphasis towards interest,
attention, desire as well as actions which can be used in that manner so that more number of
persons can attract towards the corporation (Yang and Gabrielsson, 2017).
Attention: It can be possible when more consumers will attract towards the corporation.
As Proviz Sports is successful to grab attention of large group of customers through its
innovative idea of designing products which is based on the desire of persons and it helps the
company to earn more profits. When people use the products than they feel there is something
different which they are getting.
Interest: For an organisation it is important to provide products as per their desire of
consumers so that their interest will develop towards the products and its quality. As a result,
more number of consumers can attract towards Proviz which is helpful to build loyalty and brand
image of enterprise can be increase.
Desire: When interest of customers has developed than their desires has been generated
to purchase the products of company. So it is important for Proviz to make effective marketing
strategy in order to fulfil the desire of consumers. As a result they connect with the corporation
and it is beneficial to grab more market share and profits of organisation will maximize.
Action: If these theories are implemented by the organisation effectively than more
number of consumers can attract towards the Proviz and take action which is to purchase the
products of enterprise (Mort and Liesch, 2012).
SWOT Analysis of Proviz Sports enterprise
With the help of SWOT analysis an organisation can analyse its strength and weakness
and take effective steps for the improvements in order to enhance the growth of business. It is a
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strategic management tool which can be used by Proviz to take important decisions which
contribute to the success of enterprise.
Strength: The main strength of Proviz is, it make customize products which are helpful to
satisfy the needs of consumers (Jones and Rowley, 2013). Marketing strategy is helpful to aware
the consumers about the products of corporation so that firm can capture more market share and
maximize the profits. Company uses innovative technology which is helpful to maximize
efficiency as well as quality and it is the key strength of firm.
Weakness: The market share of company does not wider because it targets niche market
and it can affect the profits also. Proviz provide quality products and prices are normally high so
that a normal consumer cannot afford it.
Opportunities: Organisation has opportunity to capture more market share which help the
company to maximize its profits because currently Proviz is focusing niche market. Marketing
strategy can be developed effectively so that consumers can aware about the products of
company. Products can be customized as per the requirement of consumers which is helpful to
satisfy the desires. As a result, sales and market share will be increase which contribute to
growth of company.
Threats: The competitors who already doing the similar business can be the reason of
threat because they can create competition in the market. To analyse the demand of persons is
difficult for an organisation because business environment is dynamic and demands, likes,
preferences and habits of consumers are changing. If Proviz cannot identify these factors than it
can be the reason of threat for the corporation (Ionita, 2012).
Compare & contrast critical thinking on marketing theory and practices
“Word of Mouth” is the oral recommendation which is given by person who is satisfy
with the products of company and it suggest other individuals to purchase the products of
organisation. It is most effective marketing tool which can be used by the company to maximize
the sales as well as market share. There is no cost involve in this type of marketing (Hills and
Hultman, 2013).
As per Eric Groves, word of mouth is the most influencing strategy which is helpful to
market the products.
Word of mouth: It shows the personal views and opinion of persons which can influence
the other individuals to use the products of company. It is helpful to increase the reputation and
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brand image of organisation. This is beneficial to build effective relationship with corporation
and its consumers. So it is the responsibility of Proviz to provide quality products in order to
satisfy the needs of consumer. As a result, more number of customers will do word to mouth
publicity which is helpful to connect more persons with the enterprise.
According to Nick Hajili: Word of mouth marketing happens in two ways one is
organically & other one is related to use of marketing and advertising campaigns. As effective
word to mouth marketing strategy will cause increased organic word to mouth.
There are two types of these:
Organic word to mouth: It happens naturally when persons become advocate for products
of company reason being consumers are happy with quality goods. So the totally satisfied buyers
support the products of Proviz as a result sale can be maximize.
Amplified word of mouth: This marketing strategy can be used by corporations to
organize different campaigns to encourage & accelerate word of mouth publicity in its existing
and new communities (Ehret and Wirtz, 2013).
As an investigator, Nick Hajili's word of mouth is considered more appropriate for Proviz
Proviz Sports. There are various strategies can be used by corporations so that marketing tools
will be utilise for promoting the products. As company is providing products according to the
needs of consumers in order to get the advantage of competitiveness. The consumers are totally
satisfied with the products of enterprise. The word of mouth marketing is cost effective because
there is no cost involve in this type of marketing strategy.
“Innovative”
The word innovation denotes to changing process or making most effective process, idea
or product. It involves to change the business model or procedures in order to provide quality
products and services.
According to Nick Skillicorn '' Innovation” means turning an idea into solution which
adds value for the money of consumers. There are many enterprises which cannot expand its
business due to the lack of innovation in the business and its products or services. Some
corporations cannot do innovation because of shortage of funds or insufficient resources (Eggers
and Davis, 2012).
According to “David Burkus” Innovation is the application of idea which is new &
beneficial. Creativity shows the ability of person to bring innovative ideas but it is necessary to
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be implemented otherwise it will be just an idea. As most of corporations thinks that innovation
is associated with products & technology but it is more than that.
As an investigator, David Burkus idea of innovation is more helpful for the company.
Only having an idea is not sufficient but it is needed to be implemented so that business of
Proviz can grow and expand. Innovation has been applied by the enterprise by customizing the
clothes & accessories for cyclist according to the wants. As products are designed according to
the individual preference which makes it different & attract the potential consumers. It is helpful
to get the advantage of competitiveness so that company can sustain for a long time in the
market. It is important to upgrade technology as well as innovation system can be applied in the
business so that more market share can be capture by the enterprise.
As marketing theories are helpful to develop effective strategies which are beneficial to
develop the business of corporation. Difference can be created while implementing the theory in
reality. It is created because of unfavourable market conditions and environment (Brettel and
Flatten, 2012).
Recommendation: As Proviz Sports needs to apply AIDA marketing theory which is
beneficial to target existing as well as potential customers. It is beneficial to attract more number
of persons by providing quality products and services. Products are needed to be develop as per
the pricing strategy used by the enterprise. SWOT analysis is helpful for the company to identify
those areas in which chances of improvements are available in order to remove the weaknesses.
The management of organisation is responsible to convert weakness into the strength so that
business of firm can expand. As enterprise is operating into niche market so it is important for it
to target those segment or areas in which are current untapped by it (Swenson and Whitlark,
2012).
CONCLUSION
As from the above report, it has been concluded that entrepreneurial marketing is
beneficial for an enterprise so that more number of consumers can attract towards the firm.
Innovation is useful for the small business corporation in order to expand its market share. The
business of company can increase by using practice methods such as: word of mouth and
innovation. Entrepreneurial theory is beneficial for the form to make effective strategies in order
to maximize market share as well as profits.
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REFERENCES
Books and Journals
Brettel, M., Strese, S. and Flatten, T. C., 2012. Improving the performance of business models
with relationship marketing efforts–An entrepreneurial perspective. European
Management Journal. 30(2). pp.85-98.
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.
Ehret, M., Kashyap, V. and Wirtz, J., 2013. Business models: Impact on business markets and
opportunities for marketing research. Industrial Marketing Management. 42(5). pp.649-
655.
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.
Mort, G. S., Weerawardena, J. and Liesch, P., 2012. Advancing entrepreneurial marketing:
Evidence from born global firms. European Journal of Marketing. 46(3-4). pp.542-561.
Sullivan Mort, G., Weerawardena, J. and Liesch, P., 2012. Advancing entrepreneurial marketing:
Evidence from born global firms. European Journal of Marketing. 46(3/4). pp.542-561.
Swenson, M. J., Rhoads, G. K. and Whitlark, D. B., 2012. Entrepreneurial marketing: A
framework for creating opportunity with competitive angles. Journal of Applied
Business and Economics. 13(1). pp.47-52.
Wales, W. J., Gupta, V. K. and Mousa, F. T., 2013. Empirical research on entrepreneurial
orientation: An assessment and suggestions for future research. International small
business journal. 31(4). pp.357-383.
Yang, M. and Gabrielsson, P., 2017. Entrepreneurial marketing of international high-tech
business-to-business new ventures: A decision-making process perspective. Industrial
Marketing Management. 64. pp.147-160.
Online
Entrepreneurial Marketing. 2019. [Online]. Available Though:
<https://www.mbaknol.com/modern-management-concepts/entrepreneurial-marketing/>
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