Scribd
Upload
10 views

Entr Chapter 5

Uploaded by

Abenzer Mulugeta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
10 views

Entr Chapter 5

Uploaded by

Abenzer Mulugeta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 10

CHAPTER 5

MARKETING AND NEW VENTURE


DEVELOPMENT

11/21/2024 1
5.1 What is marketing ?
• Marketing is about making money from satisfied
customers. Without satisfied customers there can be
no future for any commercial organization (John
Egan).

• “Marketing is the process of planning and executing


the conception, pricing, promotion, and distribution
of ideas, goods, services to create exchanges that
satisfy individual and organizational goals.”
• American Marketing Association
11/21/2024 2
5.2 MARKETING ORIENTATION

• production orientation; the product widely


available to the consumers at an affordable price
• selling orientation. the emphasis shifted to
undertaking an aggressive selling and promotion
effort
• marketing orientation,. The approach relies on
first finding out what the customers want and
then creating and developing products or
services that satisfy their wants.
11/21/2024 3
MARKETING RESEARCH

• “the systematic and objective process of


gathering, recording, and analyzing data for aid
in making marketing decisions.”

• The essence of marketing research is to provide


information used in decision making, and for the
entrepreneur, there are fundamental differences
between market information needed prior to
start-up and after a firm is established.
11/21/2024 4
Need for Market Research

• These three things - namely,


• Analysis of the market demand,
• The competitive situation, and
• The trade practices - are important for sound
market research.

11/21/2024 5
ANALYSING COMPETITIVE SITUATION

1. How many firms are in competition with him?


2. What are their market shares?
3. What are the strengths and weaknesses of their
products?
4. What kind of consumer image does each
product enjoy?
5. What trade practices do the competitors
employ?
6. Who are the major customers of each brand?
11/21/2024 6
PORTER’S FIVE FORCES FRAMEWORK

• helps in explaining how forces in the


competitive environment shape strategies and
affect performance.

• The framework suggests that there are


competitive forces other than direct rivals
which shape up the competitive environment.
• These competitive forces are as follows:

11/21/2024 7
Cont’d
1) The rivalry among competitors in the industry
2) The potential entrants
3) The substitute products
4) The bargaining power of suppliers
5) The bargaining power of buyers

11/21/2024 8
5.6 MARKETING STRATEGIES

11/21/2024 9
5.7 INTERNATIONAL MARKETS

Expansion into foreign markets can be achieved


through:
• Exporting
• Licensing
• Joint Venture
• Foreign Direct Investment

11/21/2024 10

You might also like