Entrepreneurial Marketing Essay

INTRODUCTION

Entrepreneurial marketing is an attempt to explore the new markets or products within an industry with the new degree of innovation. It is about the marketing strategies and the spirit to differentiate between the traditional marketing with the gathering of evidence to convince individuals. It has the strong relationship between the marketing and entrepreneurship and usually practices by the start-up company. An entrepreneur is a person who manages the business in order to gain the profit and dare to take risk, seek the new markets, adventurous, innovative and other characteristics. The marketing is a theory to be applied and practices by the entrepreneur or owners to promote their products and services by using the 4P or 7P. Entrepreneurial marketing is the combine of two components by using the characteristics of entrepreneurship and marketing approaches such as interactive marketing and alternative marketing method to manage the businesses.

There are seven common features of entrepreneurial marketing include innovation, risk taking, proactive orientation, opportunities focused, resources leveraging, customer intimacy and value creation. From the common features of entrepreneurial marketing, it incorporates of the components of entrepreneurship and marketing. Entrepreneurship includes proactivity, risk taking, opportunities focus and innovativeness while the marketing includes customer intimacy, resources leveraging and value creation.

Every business needs to have entrepreneurial marketing strategies in carrying out the marketing effort in order to get awareness by the popular, increase profit, achieves growth and exploration or expands of the markets. The entrepreneurial marketing campaigns try to highlight the co...

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...mpany can carry out the guerrilla marketing approaches through the social media. Hence, the consumers who regularly use social media are more likely to share their experiences with their friends through the respond of creative tactics and in turns generate the buzz and can quickly go viral.

To implement the guerrilla marketing, the company’s or entrepreneur should establish the objectives by pinpoint the target market of the company itself, knowing the customer needs, wants and characteristics through the market research for selecting the audiences to sending the guerrilla messages and analyse the company competitive advantages and building the cost effective marketing method. Therefore, it will generate the buzz and spreads virally without wrong targeted customer.

Below are the examples of the company’s or firms that implementing the guerrilla marketing strategies: