Marketing for Entrepreneurs

Frederick G. Crane is an executive professor of Entrepreneurship & Innovation at the College of Business at Northeastern University, Editor of the Journal of the Academy of Business Education, and co-founder of Ceilidh Insights LLC, an innovation management training, intellectual property consulting, and consumer insight company. He was formerly a professor of marketing and entrepreneurship at the University of New Hampshire and a chair and full professor at Dalhousie University. He currently teaches courses in entrepreneurship, innovation, and entrepreneurial marketing.His academic research activities have resulted in more than 100 publications, including fifteen books. Additionally, he currently serves on the editorial boards of several academic journals. His current research stream intersects the domains of marketing, entrepreneurship, corporate venturing, and innovation, and he is conducting ongoing research on the psychology of entrepreneurship, entrepreneurial education, entrepreneurial branding, and innovation readiness. Dr. Crane is also an award-winning educator who has received numerous honors for teaching excellence over the past twenty years.

• PrefaceAbout the AuthorChapter 1. Marketing in an Entrepreneurial ContextMarketing: DefinedThe Seven Steps in the Marketing ProcessWhy Marketing in New Ventures Is DifferentUsing Marketing to Discover and Satisfy Customer NeedsThe 5Ps of Product-Based VenturesThe 8Ps of Service-Based VenturesThe Five Forces in the Entrepreneurial Marketing EnvironmentEnvironmental ScanningKey TakeawaysEntrepreneurial ExerciseKey TermsChapter 2. Finding and Evaluating the Right Marketing OpportunityOpportunities Can Be Recognized, Discovered, or CreatedCharacteristics of a Good OpportunityFinding Marketing Opportunities: Where to LookVeiled/Niche OpportunitiesEvaluating Marketing OpportunitiesDetermining the Extent of the Opportunity: Making Some Market Estimates Using Voice of Consumer FeedbackOpportunities and Business ModelsKey TakeawaysEntrepreneurial ExerciseKey TermsChapter 3. Using Marketing Research to Ensure Entrepreneurial SuccessMarketing Research: DefinedTypes and Methods of Marketing ResearchSocial Media as a Marketing Research ToolOther Research IssuesDesigning a Marketing Information SystemKey TakeawaysEntrepreneurial ExerciseKey TermsChapter 4. Understanding Customers and CompetitorsUnderstanding the CustomerPsychological InfluencesSociocultural InfluencesSituational Influences and Marketing Mix InfluencesBusiness CustomersUnderstanding CompetitionKey TakeawaysEntrepreneurial ExerciseKey TermsChapter 5. Segmentation, Targeting, and PositioningMarket SegmentationWays to Segment MarketsSelecting Target SegmentsPositioningPerceptual MappingKey TakeawaysEntrepreneurial ExerciseKey TermsChapter 6. Developing New Products and ServicesTypes of New ProductsTypes of New ServicesCharacteristics of Successful New Products and ServicesReasons New Products/Services FailThe New Product/Service ProcessAdoption and Diffusion of New Products and ServicesManaging Your Products/Services Over Their Life CyclesThe Iterative Approach to New Product/Service DevelopmentKey TakeawaysEntrepreneurial ExerciseKey TermsChapter 7. Building and Sustaining the Entrepreneurial BrandWhat Is a Brand and Why Is Entrepreneurial Branding Important?Characteristics of a Good BrandThe Entrepreneurial Branding ProcessEntrepreneurial Branding StrategiesThe Importance of Brand EquityKey TakeawaysEntrepreneurial ExerciseKey TermsChapter 8. Entrepreneurial PricingThree Pricing ParametersPrice-Setting MethodsSocial Media Impact on PricingEntrepreneurial Pricing Best PracticesKey TakeawaysEntrepreneurial ExerciseKey TermsChapter 9. Entrepreneurial Channel Development and Supply Chain ManagementUnderstanding Channels and Channel OptionsChannel DriversChoosing a Channel StrategyThree Channel Design ImperativesFormalized Channel ArrangementsSupply Chain ManagementKey TakeawaysEntrepreneurial ExerciseKey TermsChapter 10. Entrepreneurial Promotion: Doing More With Less!The Role of PromotionThe Promotional MixThe Integrated Promotion PlanKey TakeawaysEntrepreneurial ExerciseKey TermsChapter 11. Social Media and Entrepreneurial MarketingWhat Are Social Media?A Look at Important Social NetworksIntegrating Social Media Into New-Venture StrategiesKey TakeawaysEntrepreneurial ExerciseKey TermsChapter 12. The Entrepreneurial Marketing PlanDifference Between the Venture’s Business Plan and the Venture’s Marketing PlanThe Critical Questions the Marketing Plan Must AddressThe Anatomy of the Marketing PlanKey TakeawaysEntrepreneurial ExerciseKey TermsAppendix A—Sample Entrepreneurial Marketing PlanIndex