Reading Reflection Week#9

Marketing Challenges for Entrepreneurial Ventures

What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

Nothing in particular stood out in the reading this week. I would think that in the face of such competition guerrilla marketing would have been more of a topic. Most people don’t have the money to do conventional marketing and nonconventional marketing would be the only way they could have any presence in the marketplace.

Identify at least one part of the reading that was confusing to you.

·         Although I am familiar with marketing techniques, I felt the marketing theory somewhat convoluted. I was somewhat confused as to how the new marketing concept for entrepreneurs differed in theory from the old school marketing strategy. Other than the inclusion of understanding of how to utilize social media in marketing, it seemed the author’s still described marketing as ‘”find a need and fill it.” I was confused somewhat by the major rethinking in marketing. I think the authors could have presented this in a more basic light.

If you were able to ask two questions to the author, what would you ask? Why?

1.    My first question would be: “How can a new entrepreneur launch an idea without having to spend so much time do so much research as it appears in the text?” I asked because the book shows the research as appearing as an encumbered task. I understand there must be market research, but how could this data be gathered with much less initial outlay of energy? It would seem if one was wanting to launch a business, this description of research could be overwhelming.

2.    My second question would be: “Because consumer behavior is vital to marketing strategies, how could one get ahead of the competition, or launch a new venture, based on upcoming trends?” The market is saturated with coffee, but if I had a deep passion for coffee, how would I find the next big trend in coffee so as I launch a new venture or update an old one centered around coffee.

Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I found nothing “wrong” with the author’s discussion on marketing, however, I would like to have seen more practical “how to” utilize social media when discussing the benefits of social media in marketing.