Session 6: Entrepreneurial Marketing Flashcards
1
Q
Entrepreneurial marketing = adapting marketing concepts
A
1.Translating existing marketing concepts / theories in the context of entrepreneurial firms
2
Q
How can you define a market?
A
- Companies
- Products
- Buyers
- Needs
3
Q
Primary and Secondary data
A
Primary: Surveys and Observation
Secondary Data: Internal, External
4
Q
Marketing Mix- Product decisions
A
Product Concept:
- Intended target group
- Unique selling proposition (USP)
- Product features
- Target positioning
5
Q
Conjoint Analysis
A
- Objective is to find a combination of attributes that customers prefer most.
- Total evaluation of products provides information about the significance of single attributes.
6
Q
Marketing Mix- Pricing decisions
A
- Quick implementation
- Hardly reversible
- Major impact
- Fast impact
7
Q
Generic new product pricing
A
- Skimming Strategy: During market entry phase, the products are sold at comparably high prices
- Penetration Strategy: Initially, prices are relatively low, high market shares
8
Q
Marketing Mix- Sales Decision
A
Direct vs. Indirect destribution channel
9
Q
Communication
decisions
A
- Attention, Interest, Desire, Action
10
Q
Internet Advertising
A
- Search engine advertising
- Banners
- Pop-ups
