Entrepreneurial Marketing Report: Verdant Leisure Case Study Analysis

This report provides a comprehensive analysis of entrepreneurial marketing, using Verdant Leisure as a case study. It begins with an introduction to entrepreneurial marketing, followed by an analysis of the distinguishing features of the small business marketing environment, including politica...Read More

ENTREPRENEURIAL
MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Analysis of Distinguishing Features of Small Business Marketing Environment......................1
TASK 2............................................................................................................................................3
Identification of Key Marketing Operational Issues...................................................................3
TASK 3............................................................................................................................................5
Critical comparison of 'Standard' Marketing Theory and Practice With That of Verdant
Leisure.........................................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Entrepreneurial Marketing is a assemblage of two distinct management areas and refers
to a procedure which is undertaken by organisations as a combination of various marketing
strategies which are discrete from the traditional marketing practices adopted by these companies
(Miles and et. al.., 2015). The report is based on Verdant Leisure, which provides effective
holiday and self-catering services to its customers in the UK. It covers analysis of distinguishing
features of small business marketing environment and identification of key marketing
operational issues faced by small businesses in a global context. The report also covers a critical
comparison between the standard marketing theory and practice from what is witnessed from
small business research findings.
TASK 1
Analysis of Distinguishing Features of Small Business Marketing Environment
The small business marketing environment is quite discrete from that of large-scale
businesses. In every aspect, small businesses tend to keep a simpler yet effective approach that
connects them directly with customers (O'Cass and Morrish, 2016). However, there are various
strategic differences too which distinguishes features of small business marketing environment
from that of larger organisation. These features are discussed below:
 Political Environment:
One of the most evident distinguished feature of small business marketing environment is
the regulatory environment which sets up political framework for smaller organisation to operate
upon. Political trends have an impact on the market conditions in which these small businesses
function (How Does a Political Trend Affect a Small Business?, 2019). There are various
constraints such as unavailability of support from local communities in a political environment
of small business which constructs barriers for them. Such barriers create burden in their
operations and creates difficult situations which are not faced by large businesses.
 Social Environment:
A business, large or small, requires effective human resources to implement marketing
strategies and plans. However, small businesses find it really hard to acquire appropriate
individuals for their firm so that their marketing agendas could be accomplished.
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Where marketing is concerned, small businesses tend to blend this aspect with leadership
(How Small Business Marketing Differs from Big Business Marketing, 2018). Usually, top
management of these firms deals with marketing and manage all the aspects underneath it. In
addition to this, marketing also depends upon how diverse the workforce is which influence
innovation and creativity. Such factors distinguishes this feature from large organisations as
small businesses are likely to have a workforce which is diverse and usually attracts individuals
wanting more growth and opportunities than job security.
 Economical Environment:
This feature of marketing environment is concerned about how finance plays a role in
small businesses. In addition, it also determines how economic environment of countries effct
these organisations. Small businesses have a hard time in obtaining finance and are required to
approach various institutions to acquire monetary resources essential for marketing. Moreover,
unlike large businesses, their marketing strategies must be scaled and aligned with their budget
as they are not much capable where financial aspects are concerned.
This feature restricts them at a point in regards of acquisition of capable human resources
and outsource activities to achieve complex objectives. Thus, it is necessary for small businesses
to implements strategy that could provide maximum results with limited budget.
 Technological Environment:
Technology plays a crucial role in marketing and its importance has been substantially
increasing in recent years (4 Differences Between Small Business Marketing and Big Business
Marketing, 2018). Majority of population in various developed nations have become
technologically inclined and even developing countries are taking initiatives to digitalise each
operation within their departments.
However, it is not easy for small businesses to implement high-end technologies and
implement effective techniques which use such methods. Thus, this feature distinguishes on
ways it is applied. Their techniques differ vastly form that of large companies. For instance,
these firms usually approach marketing consultants which help them set up their campaigns
effectively.
All these features are distinctive and influence the marketing decisions effectively.
Moreover, strategies and techniques used must be utilised in ways which bring maximum
opportunities to small companies and help to achieve their marketing objectives effectively.
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 Legal Factors:
Since legal regulations within a country are more or less same for organisations
regardless of their structure and scope, this feature is somewhat applied similar in small as well
as large organisation. For instance, there are various regulations related to marketing like
prohibition of unfair commercialisation, aggressive marketing practices, etc. (Marketing and the
law, 2018). However, this feature becomes more intense in case of small businesses as regulatory
bodies are associated with marketing of larger firms, thus, guiding them through their content,
which is not the case with small businesses due to their constraints.
 Environmental Factors:
In today's world, every enterprise whether small or large is affected by a number of
environmental factors and both the forms of organisations have to conduct marketing activities
which are in interest of environment. Sustainable tourism refers to a concept of visiting a place
as a tourist and giving substantial contribution towards making a positive impact upon the
society, environment and nearby surroundings. This concept largely reflects the desire and
willingness of an entity to conduct responsible tourism in order to carry out sustainable
development. In this regard, large companies generally promote sustainable tourism by getting
brochures and pamphlets printed to create awareness about this concept. In contrast with large
entities, small businesses are generally not much equipped with financial resources so as to
market about this significantly essential concept. It is largely required by small business entities
to focus upon making large proportion of audience popular with this idea so that environment
can be significantly preserved.
TASK 2
Identification of Key Marketing Operational Issues
Within a global environment, each new venture as well as large firm is determined to
effectively market their products and services to maximum number of individuals. The agenda of
adopting marketing is to influence vast audiences in preferring their products and services
(Kilenthong, Hultman and Hills, 2016). For example, within tourism sector, marketing plays a
crucial role in presenting the offerings and services globally. However, various entrepreneurial
ventures and SME's like Verdant Leisure face various operational issues which are discussed
below:
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 Lack of Managerial Talent:
Small businesses does not guarantee effective job safety due to its ambiguous nature and
unnatural business growth. Thus, small companies such as Verdant Leisure face this issue of
hiring talent that help to manage their marketing facet and help to carry out effective strategies
for their firms. Thus, each human resource they acquire are not much experienced and require to
give proper training and development which is essential for them to manage their marketing
departments. Managerial talent is crucial as adequate and potent human resources could assist
organisations like Verdant Leisure grow in an appropriate manner.
 Budget Constrains:
Another operational issue which is faced by small businesses of tourisms sector is
funding. Tourism industry needs their businesses Verdant Leisure to market the services set up
for their customers. However, with small and medium businesses, no matter how much time they
have served the market, it becomes very complex for them to manage their budget and arrange
funding which is essential to carry out their marketing activities (Common Small Businesses
Marketing Challenges, 2019).
 Market Research:
Within tourism sector, it is imperative that each organisation conduct adequate market
research which could help them identify their target customers upon which they apply their
strategies. However, Verdant Leisure and other similar small scale companies face this issue and
are somewhat incapable in keeping up with the trend and technological advancements (2017 Top
5 Small Business Marketing Challenges, 2019). Such factors increases complexity in operations
and firms end up applying ineffective marketing strategies. In addition to this, inadequate market
research also results in choosing inappropriate media techniques to reach customers which
unnecessarily adds to the cost and leads to failure in achievement of marketing objectives.
 Consistency:
Tourism industry face tough competition. Each small and even large scale firms come up
with different aspects and factors to satisfy their customers in an appropriate manner. However,
where small firms are concerned, they tend to lose their flow in consistently marketing their
products and services to customers (7 Marketing Challenges Facing Small Business Owners,
2019). The reason for this is that these companies operate with uncertainty of having adequate
resources which are required each time during marketing their activities. Thus, they might
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effectively use adequate and appropriate marketing techniques, however, it is difficult for
Verdant Leisure and similar businesses to carry out their marketing techniques consistently.
TASK 3
Critical comparison of 'Standard' Marketing Theory and Practice With That of Verdant Leisure
A standard marketing theory and practice requires an organisation to market in ways
which is essential for establishing agendas of the firm (Nijssen, 2017). These purposes include,
brand establishment, specifying target market, enhancing the familiarity of services and products
within the marketplace and gaining a competitive advantage (What Is the Purpose of Marketing
& Sales?, 2019).
This theory and practice must be aligned with current trends and customer preferences
which would assist a company in appropriately establishing itself in the market. Verdant Leisure
is a small scale firm which is quite well known in the UK. The firm deals in all kinds of tourism
and leisure activities and thus, marketing is an important element for this company. There are
various factors in the marketing strategy of Verdant Leisure that are effectively compared against
the standard marketing theory and practice. These factors are mentioned below:
 Standard Marketing Methods:
Marketing requires coping up with current trends and is an essential practice for each
organisation thriving to succeed. Verdant Leisure carries on with sales campaigns to encourage
people of taking up their services. Moreover, the company does it on seasonal basis and uses
various media which focuses more on traditional media methods such as newspaper advertising,
posts, banners, etc. (Verdant Leisure Sales Campaign, 2019).
However, relying too much on traditional methods at a time of drastic advancements in
technology requires the firm to effectively cope its operations up with the current trend.
Moreover, majority of millennials are social media users which could be used by this company to
adopt these methods to align itself with the new trend.
Another aspect due to which it is necessary is that sustainability is a key issue that must
be addressed through marketing and other functional operations. Through usage of traditional
methods, environment is being harmed which could be negatively perceived by the government,
as well as the customers. Thus, it is necessary for the firm to modify its marketing practices in
ways which helps it ensure sustainability.
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 Inconsistent Promotional Strategies:
Verdant Leisure is a company which is quite consistent to adopt methods that help the
company grow effectively. Recently, the firm had acquired its ninth leisure park (erdant leisure
continues investment drive with the acquisition of ninth leisure park, 2019). The company is
growing quite substantially, however, it still lacks appropriate and consistent promotion at global
level. The firm and its services are still overshadowed by companies like Costsaver and Topdeck
(Tour Operators & Travel Companies in UK and Great Britain, 2019).
Traditional marketing practices and theories require firms to consistently present their
products in front of customers which helps in psychological marketing. Thus, Verdant Leisure
must adopt consistent promotional strategies using diversified methods and multiple platforms
like Facebook, Twitter, YouTube, etc.
In addition to this, the firm could also opt for automation and VR technology to help
market their services and stand ahead in the marketplace (5 Ways to Use Virtual Reality in Your
Marketing Strategy in 2018, 2019). It would help in avoiding ad blockers and would give an
unique experience to its customers. This would also help in maintaining the consistency which is
essential for Verdant Leisure to grow more effectively and with prosperity.
CONCLUSION
Thus, it could be concluded by the information mentioned above that entrepreneurial
marketing is quite essential in respect to making a firm more effective in the market. Marketing
environment helps in determining how features differentiate between small and large enterprises.
Operational issues in marketing also assists companies in determining aspects which affect small
companies and could aid in identifying strategies effectively. Lastly, it is imperative that
traditional marketing theory and practise be compared with that of organisation to determine the
shortfalls and appropriately deal the situation in a better manner. Thus, all these aspects would
help in implementing marketing strategies that would help enhancing market position of the firm.
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REFERENCES
Books and Journals
Kilenthong, P., Hultman, C.M. and Hills, G.E., 2016. Entrepreneurial marketing behaviours:
impact of firm age, firm size and firm’s founder. Journal of Research in Marketing and
Entrepreneurship. 18(1). pp.127-145.
Miles, M., and et. al.., 2015. Exploring entrepreneurial marketing. Journal of Strategic
Marketing. 23(2). pp.94-111.
Nijssen, E.J., 2017. Entrepreneurial marketing: an effectual approach. Routledge.
O'Cass, A. and Morrish, S., 2016. Anatomy of entrepreneurial marketing. Journal of Strategic
Marketing. 24(1). pp.2-4.
Online
2017 Top 5 Small Business Marketing Challenges. 2019. [Online] Available Through:
<https://medium.com/business-startup-development-and-more/2017-top-5-small-
business-marketing-challenges-76d348d6b54a>
4 Differences Between Small Business Marketing and Big Business Marketing. 2018. [Online]
Available Through: <http://www.torontomarketingconsultant.com/4-differences-
between-small-business-marketing-and-big-business-marketing/>
5 Ways to Use Virtual Reality in Your Marketing Strategy in 2018. 2019. [Online] Available
Through: <https://blog.hootsuite.com/vr-marketing/>
7 Marketing Challenges Facing Small Business Owners. 2019. [Online] Available Through:
<https://firstbeaconadvisors.com/7-small-business-marketing-challenges/>
Common Small Businesses Marketing Challenges. 2019. [Online] Available Through:
<https://thrivehive.com/common-small-business-marketing-challenges/>
How Does a Political Trend Affect a Small Business?. 2019. [Online] Available Through:
<https://smallbusiness.chron.com/political-trend-affect-small-business-64909.html>
How Small Business Marketing Differs from Big Business Marketing. 2018. [Online] Available
Through: <https://www.dummies.com/business/marketing/how-small-business-
marketing-differs-from-big-business-marketing/>
Marketing and the law. 2018. [Online] Available Through:
<https://www.rocketlawyer.co.uk/article/marketing-and-the-law.rl>
Tour Operators & Travel Companies in UK and Great Britain. 2019. [Online] Available
Through: <https://www.tourradar.com/g/b-great-britain-uk-tour-operators>
Verdant leisure continues investment drive with the acquisition of ninth leisure park. 2019.
[Online] Available Through: <https://www.palatinepe.com/verdant-leisure-acquires-
ninth-leisure-park/>
Verdant Leisure Sales Campaign. 2019. [Online] Available Through:
<http://catherinebargh.com/project/verdant-leisure-sales-campaign/>
What Is the Purpose of Marketing & Sales?. 2019. [Online] Available Through:
<https://smallbusiness.chron.com/purpose-marketing-sales-57689.html>
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