Society itself evolves and so the systems and processes around it. Marketing has changed into a more interactive method with its market and the most important part of it, the customers. Traditional marketing has no role in a fast-pace world like ours, entrepeneurial marketing has stepped up to reshape the system.
In order to better understand entrepeneurial marketing I am going to lay out the seven components that integrate this practice.
1.Proactiveness: instead of considering the environment as a set of circumstances to which the firm can only react or adjust. The environment is viewed as an opportunity horizon where marketer attempts to redefine external conditions in ways that reduce uncertainty.
2.Opportunity obsessed: recognition and pursuit of opportunity is fundamental. Opportunities represent unnoticed market positions that are source of sustainable profit potential.
3.Customer intimacy: establishing visceral relationships with the firm´s customer base. The firm identifies with customer and customer identifies with the firm. This is what happens with Apple and Harley Davidson. The customers are so attached to the brand that they are not customers anymore, they are fans and ambassadors of the brand. They believe in the product and what the brand stands for.
4.Innovativness: continuos flow of new ideas that translate into new products, processes and tech applications.
5.Calculated risk taking: marketer is enhancing the firm´s level of control over its destiny. Examples of efforts that can achieve one or more of these outcomes include collaborative marketing programs with other firms, joint development projects, creative test market experiments, staged product roll-outs, working with lead customers, etc.
6.Resource leveraging: ability to recognize a source that has not been used optimally, see how the resource could be used in a nonconventional way, and convince those that control the resource to let the marketer use it involves insight, experience, and skill.
7.Value creation: discover untapped sources of customer value and to create unique combinations of resources to produce value. The amount of new value being created is the benchmark for judging marketing initiatives.
The market provides signals regarding what value is needed, when it is needed, and how it should be delivered. There are two different ways that companies use to approach the market.
-Market-driven: many companies exhibit this behavior, including IBM and Canon. This approach involves learning, understanding, and responding to stakeholder perceptions and behaviors within a given market structure. But the challenge is when the market does not yet exist or is being radically redefined.
-Market-driving: it is a more entrepeneurial approach that refers to firms that shape the structure, preferences, and behaviors of all market stakeholders. IKEA is a great example, they introduced innovative product concepts and a unique delivery system.
コメント