Introduction to Entrepreneurial

Marketing and Marketing Plan

Session 1
Course : J1665 - Entrepreneurial Marketing
Learning Outcomes
On successful completion of this Course, students will be able to:
LO1: Comprehend the term of entrepreneurial marketing and marketing plan
application in current situation
LO2: Identify the markets, customer, segments, competitie position and
potential target markets
LO!: "eelop a framework for understanding marketing challenges and
opportunities to setting strategic marketing ob#ectie in deelopment of
competitie adantage
LO$: "eelop in%depth knowledge and proide specific recommendation of the
four &'s of strategic marketing: &roduct, &rice, &lace, and &romotion
LO(: )*plain and apply key entrepreneurial marketing terms, concepts and
fundamental strategies
LO+: ,esearch, deelop and effectiely communicate a marketing plan
J0844 Entrepreneurial Marketing Topics
Chap 1 - 2 Introduction to .arketing &lan
Chap ! - $ /naly0ing the Current 1ituation
Chap ( - + 2nderstanding .arkets and Customers
Chap 3 - 4 &lanning 1egmentation, 5argeting, and &ositioning
Chap 6 - 17 &lanning "irection, Ob#ecties, and .arketing 1upport
Chap 11 - 12 "eeloping &roduct and 8rand 1trategy
Chap 1! - 1$ "eeloping &ricing 1trategy
Chap 1( - 1+ "eeloping Channel and Logistics 1trategy
Chap 13 - 14 "eeloping .arketing Communications and Influence 1trategy
Chap 16 - 27 &lanning .etrics and Implementation Control
Chap 21 Case 1tudy: 9ewelry /rtisan .arketing &lan
Chap 22 Case 1tudy: ,estaurant .arketing &lan
Chap 2! 1ample .arketing &lan: 1onic 1uperphone
Chap 2$ :roup &resentation ;1<
Chap 2( Case 1tudy : =otel and .otel .arketing &lan
Chao 2+ :roup &resentation ;2<
J0844 Entrepreneurial Marketing Books
1> .arian 8urk ?ood> ;2711<> 5he .arketing &lan =andbook> $e> &earson> @ew
9ersey> I18@: 63471!37(!(7+
2> .arian 8urk ?ood> ;277$<> .arketing &lanning: &rinciples into &ractice>
&rentice =all> )dinburg> I18@: 723!+4+364
!> 1onny @wankwo and 5un#i :badamosi> ;2717<> )ntrepreneurship .arketing>
,outledge> 1outhampton> I18@: 6347$1((3!3+$
$> :ary /rmstrong and &hilip Aotler> ;2711<> .arketing: /n Introduction> 17e>
&rentice =all> Chicago> I18@: 63471!+172$!$
(> .ichael Leens> ;2717<> .arketing> &rentice =all> "etroit> I18@:
63471!+73(+61
+> Lingga &urnama> ;2772<> 1trategic .arketing &lan> :ramedia> 9akarta> I18@:
636+((666$
Class Participation
5his is an interactie course> 1tudents are e*pected to come to class prepared
and ready to participate in and contribute to class discussions> Aeys to
successful class participation include:
/ttend class> "o not e*pect a grade higher than a CB if you miss two or more
classes>
Come prepared> ,ead weekly materials and complete homework
assignments on time>
1peak up> ?hat strikes you about the topic may also be interesting to others>
:et inoled> /sk Cuestions and work through class e*ercises and
discussions>
&roide feedback> ,espond thoughtfully to comments from other students>
)*pect that from time to time you will be called on in class to answer Cuestions
about the assigned case study, reading materials, current eents or topics> In
class actiities, Cui00es and homework assignments will also contribute to the
class participation grade> 1tudents are encouraged to bring e*amples of
current eents that highlight marketing concepts to class>
STUDENT SS!"NMENT
5here are four indiidual and one team marketing
plan pro#ect assignments>
Marketing Plan Team Project
Dou will be diided into teams during the first class session> 5eams are
responsible for deeloping a strategic marketing plan for either a start%up or
a new strategic business unit ;182< for an e*isting company> 5he focus of
the plan is to drie growth in a new area by analy0ing a particular market
opportunity that will be targeted by the 182 or start%up> 5he pro#ect will
follow the .arketing &lan Outline framework included in this syllabus, and
must incorporate the core strategies of targeting, positioning and branding
as primary sources of strategic adantage>
Preview
Despite the man !orces altering the marketing
en"ironment at an unprecedented pace# marketing
planning is !ar !rom o$solete% &ou sa'# in the recent
economic crisis# ho' (uickl customers can change their
$uing ha$its and $rand attachments% &ou)"e seen
technolog e"ol"e in ne' and sometimes surprising
directions# 'ith the latest online phenomena such as the
&ou *u$e "ideo site and the micro$logging site *'itter
taking the
Marketing spotlight !rom esterda)s tech darlings# such as
the "irtual 'orld in Second +i!e%
&ou)"e seen competitors shake up the old order $ entering
and e,iting markets at une,pected times and in une,pected
'as% In the retail 'orld# long esta$lished chains such as
Circuit Cit are going $ankrupt at a record rate# 'hile
ounger $usinesses such as -appos add customers da $
da% &ou)"e heard a$out customers creating personali.ed
products and making commercials some o! 'hich ha"e e"en
$een aired during the Super /o'l# as 'ell as on &ou *u$e
and $eond% 0inall# ou)ll continue to see 1nancial
pressures and go"ernmental actions ha"ing !ar-reaching#
unpredicta$le e2ects on $oth $uers and sellers%
3ll o! these comple,ities ha"e $rought a ne'
urgenc and ne' possi$ilities to the process
o! marketing planning% *hat)s 'h# more
than e"er $e!ore# our success in marketing
'ill depend on kno'ing ho' to research#
de"elop# implement# re"ise# and e"aluate a
marketing plan that is creati"e# 4e,i$le#
comprehensi"e# and a$o"e all practical%
CHECKLIST The Big Picture for Marketing
Planning
The Big Picture for Marketing Planning
As you begin the marketing planning process, prepare
yourself for the big picture :
5
6hat sources o! in!ormation 'ill help me unco"er#
!ollo'# and anticipate ma7or de"elopments a2ecting
m product# customers# and competitors8
5
6hat do the latest technological and social trends
mean !or marketing in general8 0or m industr
and m product in particular8
5
6hat glo$al and legal changes are likel to help or
hurt m product and marketing in the coming
ears8
5
6hat lessons a$out marketing can I learn !rom
e,isting products# campaigns# organi.ations# and
leaders that 'ill help m marketing plan8
5
6hich stakeholders are most important to the
success o! m marketing plan# and 'h8
5
9o' can I get customers and emploees to $e
more engaged 'ith m $rand and product8
5
9o' can I use marketing to make a di2erence to
m customers and organi.ation8
5
6hat "alue 'ill I $e pro"iding to m customers#
and ho'8
5
6hat resources and e,perience do I ha"e to
support marketing8
5
9o' can I generate ne' ideas and $uild on m
kno'ledge and $ackground to do a $etter 7o$ o!
marketing planning8
Marketing Planning Today
Marketing planning has ne"er $een more important
than it is toda% 6h: 0irst# marketing is e"er'here
in our e"erda 'orld at home# at 'ork# at pla# in
the streets# in stores# and in the media 'e see and
hear% Marketing can $e entertaining and in!ormati"e#
$ut it can also $e irritating and intrusi"e%
Still# $usinesses must 1ght simpl to capture the
customer)s attention $e!ore the can start to
demonstrate the "alue the pro"ide and# o"er
time# gain customer trust% :one o! this 'ill happen
'ithout care!ul planning%
Second# thanks to technolog# glo$al competition#
and ne' media# customers ha"e more
in!ormation# more choices# higher e,pectations#
more po'er# and more in"ol"ement 'ith
marketing than at an time in the past%
Citi.en marketing is the trend to'ard consumers
$ecoming in"ol"ed in marketing through such
acti"ities as making a commercial or "ideo a$out a
product# engaging in "er$al 'ord o! mouth ;or online
'ord-o!-mouse< communications a$out a product#
su$mitting product or la$el ideas to the marketing
organi.ation# and rating or re"ie'ing a product online%
*hird# customers# emploees# and other stakeholders
are looking to organi.ations to make a di2erence ;!or
instance# $ impro"ing (ualit o! li!e or contri$uting to
societ at large<%
3 compan 'ith a larger purpose can reall
stand out# e"en 'hen competition is 1erce and
mone is tight% =! course# $uilding a great
reputation re(uires meticulous planning#
especiall no' that compliments and criticism
can ricochet around the 'orld in an instant
through t'eets# te,ts# e-mails# and $logs%
Consider the success o! 6e$ $ased retailer
-appos ;see E,hi$it 1%1<%
Zao!% 0or the decade that -appos has $een selling shoes
and then clothing and electronics online# the compan has
!ocused on gi"ing customers the $est possi$le e,perience%
>nlike some 6e$-$ased merchants# -appos gi"es customers
the option o! contacting the compan $ phone# e-mail# or
li"e chat# $ecause ?the telephone is one o! the $est $randing
de"ices out there# i! ou get the interaction right#@ sas CE=
*on 9sieh% Shipping is !ree# and e"er purchase is $acked
$ a one-ear mone-$ack guarantee% Despite the e,pense#
the compan keeps its 'arehouse open ABCD and re'ards
loal customers 'ith !aster shipping and other perks%
-appos) pla!ul *E ads pla o2 the compan)s ?Po'ered $
ser"ice@ tagline to sho'case the customer !ocus%
-appos has also earned a reputation !or
transparenc% More than BFF o! its emploees
use the micro $logging ser"ice *'itter to share
ideas and con"erse 'ith customers and each
other% :earl A million people !ollo' the CE=)s
t'eets% 3nother 'a -appos stas in touch 'ith
its customers is $ in"iting them to post product
re"ie's# good or $ad# on its 6e$ site% /
emphasi.ing superior customer ser"ice and
satis!action# -appos has pushed annual re"enue
a$o"e G 1 $illion%
Marketing and "alue
-appos could not ha"e prospered in the cro'ded and
competiti"e retail industr 'ithout e2ecti"e marketing%
Marketing# as de1ned $ the 3merican Marketing
3ssociation# is ?the acti"it# set o! institutions# and
processes !or creating# communicating# deli"ering# and
e,changing o2erings that ha"e "alue !or customers# clients#
partners# and societ at large@% *his de1nition emphasi.es
the importance o! value# the di2erence $et'een the
percei"ed $ene1ts recei"ed ; to satis! a 'ant or need< and
the percei"ed total price% *he 'a a compan prospers is $
pro"iding "alue through satis!ing customers) needs%