Understanding The Business Marketing Orientation And Build A Comprehensive Planning Approach
Have a broad conceptualization of entrepreneurship without reference to any specific knowledge, skills and attitudes. Be able to identify and create unique solutions to problems not being solved/ Create a need in the market and having the ability to respond to it. Increase knowledge in subjects related to entrepreneurship such as startup capital for ventures, market forces, sales, intellectual property, and finance.
• Increase in knowledge about identifying unmet market needs.
A new business that takes into consideration economic, social, demographic, technological and political trends increases the likelihood of success. Developing this type of research provides an understanding of the market, thus being able to identify unmet needs. Identify customer’s wants, desires, needs and behaviors.
• Increase in knowledge about creating a marketing plan.
Be able to adapt and be responsive to current market situations by developing necessary tools and techniques. Identify the business marketing orientation and build a comprehensive planning approach around that.
Brooksbank (1996) study defined a marketing plan by the following:
Marketing planning involves the regular analysis of a company’s competitive situation leading to the setting of marketing objectives, and the formulation and implementation of strategies, tactics, organizations and controls, all for the purpose of satisfying customers more profitably. (p.16)