Marketing Challenges for Entrepreneurial Ventures - Blog #8

Challenges and Entrepreneurial Marketing to Solve those Problems
 
-Innovativeness
-Risk-taking
-Proactive
-Opportunity driven
-Customer focus
-Resource leveraging

Entrepreneurial Marketing
     *Identifying and acting on an opportunity
     *Defining, offering and delivering “compelling” value to customers
     *Managing changes and sustaining value

Market Research
       Definition: The process of gathering, analyzing and interpreting information about a market,   about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's target market, the industry as a whole, and the particular competitors you face.

Market research provides relevant data to help solve marketing challenges that a business will most likely face--an integral part of the business planning process.

            Market research involves two types of data:

•Primary information. This is research you compile yourself or hire someone to gather for you.

•Secondary information. This type of research is already compiled and organized for you. Examples of secondary information include reports and studies by government agencies, trade associations or other businesses within your industry. Most of the research you gather will most likely be secondary.

 

http://www.entrepreneur.com/encyclopedia/term/82436.html
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