Introduction
Entrepreneurial marketing is a type of marketing which do not necessarily deal with single marketing strategy, but relies mostly in the spirit of modern marketing differentiating itself with the traditional one. (Stokes, D.2000). It entails a lot the use of fundamental principles of marketing since they are always designed for very large and well established firms. Entrepreneurial marketing employs new marketing practices and in this way, they helped the emerging firms to enter into the crowded market and compete favorably.
Entrepreneurial marketing have got several distinct features such as being proactive. This type of entrepreneur is always aware of what is new in the market and is ready to asses and if necessary applies it. Another feature is risk taking. An entrepreneur must be some one who must take risks in the businesses. While doing marketing, risks are analyzed in various ways and finally you decided to take the list risk. (Zinkhan, G. & Williams, B.2007). Entrepreneurial marketing involves a lot of risk to be dealt with since they are always involved in bringing in new products, ideas or services in the market. Therefore the first approach to the customers might the product to stay in the market or be dumped by the clients. Entrepreneurial marketing involves a lot of innovation since deals with new products. One needs to come up with new ideas every time to enable the satisfaction of the dynamic needs of the clients
The main campaign of the Entrepreneurial marketing is to analyze the strengths of the companies in order to emphasize this for the customers. Focusing on the exemplary customer service results to beating out competitors. They always do this using the idea of electronic advertisement. Marketing is done through videos, tweeter and facebook as well as email marketing. Entrepreneurial marketing also employ other marketing strategies as long they produce good results. In this way, it is being exhaustive in terms of marketing and reaching out to the customers.
It is well known that marketing is a very important tool in any business venture. Many entrepreneurs have different approach of it especially if it comes to the issue of introducing new products in the market. Their opinion varies when it comes to considering customer base, marketing expertise and planning of the effort. The process of entrepreneurial marketing entails avoiding over reliance on already crowded customer base and avoiding unplanned effort. This type of entrepreneur tend to be driven by the market need rather customers. They approach the market through bottom up self selection and the feedbacks from the customers not by the influence group. (Stokes, D.2000). They tend to avoid the top-down segmentation because of targeting and position processes which are unplanned for. Interactive marketing method is the best as compared to the traditional four or seven “P”s. entrepreneurial marketing needs gathering of information through informal networking and not through formalized intelligence system. The former method of information collection give the entrepreneur the exact information a bout the market but the later has limited resources and hence the information a bout the market is not accurate.
Conclusion
Entrepreneurial skills are natural but they can as well be acquired through learning and constant practice. Specifically entrepreneurial marketing needs a lot of dedications and commitment since it involves reaching out to customers where they are. (Zinkhan, G. & Williams, B.2007). At the same time it needs being informed about the new innovations as much as the market is concerned .This type of marketing should be adopted by many businesses for better results.
References
Stokes, D. (2000) Putting entrepreneurship into marketing: the process of entrepreneurial marketing. Journal of Research in Marketing & Entrepreneurship, 2(1), pp. 1-16. ISSN (print) 1471-5201
Zinkhan, G.M. and Willams, B.C. (2007) 'The new American Marketing Association definition of marketing: An alternative assessment, Journal of Public Policy and Marketing, Vol. 26, No. 2, pp.284-288
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