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Entrepreneurial Marketing

A Practical Managerial Approach

Robert D. Hisrich and Veland Ramadani

One key for success for the entrepreneur is to obtain sales (revenue) and profits as quickly as possible upon launching the venture. Entrepreneurial Marketing, focuses on all the essential elements to successfully achieve these needed sales and revenues: identifying and selecting the market, determining the consumer needs cost effectively, executing the basic elements of the marketing mix (product, price, distribution, and promotion) and competing successfully in the domestic and global markets by implementing a sound marketing plan. The content is enhanced by numerous examples throughout.
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Preface

Robert D. Hisrich and Veland Ramadani

The importance of being an entrepreneur and creating value by establishing a new organization to take new ideas to market is acknowledged around the world. The entrepreneur recognizes an opportunity, which can result in outcomes in the profit or the nonprofit sectors, which in turn impacts the growth and prosperity of a region or nation.

For entrepreneurs to flourish and for a new organization to grow and have impact, there is a need for strong communication (marketing). Marketing provides information on the availability of the product or service and its characteristics that solve the identified need (opportunity).

The importance of marketing in successfully starting and operating a new venture cannot be overstated. The high failure rate of new products or services as well as new ventures indicates that a strong, creative marketing plan needs to be present. While marketing affects every aspect of our lives, it remains one of the most difficult concepts to fully understand in an organizational setting.

This book – Entrepreneurial Marketing – provides an in-depth, comprehensive, and practical explanation of marketing, its aspects, and implementation. Each of the ten chapters presents a picture of one aspect of marketing as a dynamic, creative activity that affects the success of an entrepreneur. The theoretical concepts are presented in a way that shows their practical application and are illustrated with numerous examples. To make this book as meaningful as possible, each chapter begins with chapter objectives followed by a profile of an entrepreneur and his/her venture in a marketing setting. In addition, the main points of the chapter are supported by numerous examples throughout. Each chapter concludes with a summary, a case study, questions for discussion, key terms, and references.

Many individuals – students, entrepreneurs, corporate executives, small business managers, and professors from all over the world – have made this book possible. Particular thanks goes to research assistants Laxman Panthi and Anit Kunwar and to senior secretary Mary Bamer Ramsier without whom this book would not have been prepared in a clear, timely manner.