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.

Preface
About the Author
Chapter 1. Marketing in an Entrepreneurial Context
Marketing: Defined
The Seven Steps in the Marketing Process
Why Marketing in New Ventures Is Different
Using Marketing to Discover and Satisfy Customer Needs
The 5Ps of Product-Based Ventures
The 8Ps of Service-Based Ventures
The Five Forces in the Entrepreneurial Marketing Environment
Environmental Scanning
Key Takeaways
Entrepreneurial Exercise
Key Terms
Chapter 2. Finding and Evaluating the Right Marketing Opportunity
Opportunities Can Be Recognized, Discovered, or Created
Characteristics of a Good Opportunity
Finding Marketing Opportunities: Where to Look
Veiled/Niche Opportunities
Evaluating Marketing Opportunities
Determining the Extent of the Opportunity: Making Some Market Estimates Using Voice of Consumer Feedback
Opportunities and Business Models
Key Takeaways
Entrepreneurial Exercise
Key Terms
Chapter 3. Using Marketing Research to Ensure Entrepreneurial Success
Marketing Research: Defined
Types and Methods of Marketing Research
Social Media as a Marketing Research Tool
Other Research Issues
Designing a Marketing Information System
Key Takeaways
Entrepreneurial Exercise
Key Terms
Chapter 4. Understanding Customers and Competitors
Understanding the Customer
Psychological Influences
Sociocultural Influences
Situational Influences and Marketing Mix Influences
Business Customers
Understanding Competition
Key Takeaways
Entrepreneurial Exercise
Key Terms
Chapter 5. Segmentation, Targeting, and Positioning
Market Segmentation
Ways to Segment Markets
Selecting Target Segments
Positioning
Perceptual Mapping
Key Takeaways
Entrepreneurial Exercise
Key Terms
Chapter 6. Developing New Products and Services
Types of New Products
Types of New Services
Characteristics of Successful New Products and Services
Reasons New Products/Services Fail
The New Product/Service Process
Adoption and Diffusion of New Products and Services
Managing Your Products/Services Over Their Life Cycles
The Iterative Approach to New Product/Service Development
Key Takeaways
Entrepreneurial Exercise
Key Terms
Chapter 7. Building and Sustaining the Entrepreneurial Brand
What Is a Brand and Why Is Entrepreneurial Branding Important?
Characteristics of a Good Brand
The Entrepreneurial Branding Process
Entrepreneurial Branding Strategies
The Importance of Brand Equity
Key Takeaways
Entrepreneurial Exercise
Key Terms
Chapter 8. Entrepreneurial Pricing
Three Pricing Parameters
Price-Setting Methods
Social Media Impact on Pricing
Entrepreneurial Pricing Best Practices
Key Takeaways
Entrepreneurial Exercise
Key Terms
Chapter 9. Entrepreneurial Channel Development and Supply Chain Management
Understanding Channels and Channel Options
Channel Drivers
Choosing a Channel Strategy
Three Channel Design Imperatives
Formalized Channel Arrangements
Supply Chain Management
Key Takeaways
Entrepreneurial Exercise
Key Terms
Chapter 10. Entrepreneurial Promotion: Doing More With Less!
The Role of Promotion
The Promotional Mix
The Integrated Promotion Plan
Key Takeaways
Entrepreneurial Exercise
Key Terms
Chapter 11. Social Media and Entrepreneurial Marketing
What Are Social Media?
A Look at Important Social Networks
Integrating Social Media Into New-Venture Strategies
Key Takeaways
Entrepreneurial Exercise
Key Terms
Chapter 12. The Entrepreneurial Marketing Plan
Difference Between the Venture’s Business Plan and the Venture’s Marketing Plan
The Critical Questions the Marketing Plan Must Address
The Anatomy of the Marketing Plan
Key Takeaways
Entrepreneurial Exercise
Key Terms
Appendix A—Sample Entrepreneurial Marketing Plan
Index