Entrepreneurial Marketing

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A comparison of marketing strategies of two local businesses, according to the 4Is of entrepreneurial marketing. …

A comparison of marketing strategies of two local businesses, according to the 4Is of entrepreneurial marketing.

The two businesses with similar offerings were The Dip Shop and Revive Juices.

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  • 1. Entrepreneurial Marketing Strategies THE DIP SHOP & REVIVE FARZAN SHEIKH
  • 2. The Dip Shop • Collaborative Innovation • Customized ice-creams: toppings, sprinkles, coatings of choice. • Choice, engaging customer. • Protecting Innovation • Company names, trademarks • Identification of Target Market • Top-down; children, SEC A & B • Interactive Marketing Methods • Impersonal; leaflets, banners, direct mail, Home Express
  • 3. Revive • Identification of Target Market • Market gap identified • Families’ one-stop place • Segmentation • Incremental Innovation • Menu offering, different, or ‘innovative’ • Theme well-thought out • New variants • Interactive Marketing Methods • Personal methods relatively more important • Referrals, recommendations • Low-cost, below-the-line methods
  • 4. Recommendations • Concentrating marketing efforts on target market • Marketing to Kids • Reaching out, schools • Social Media, reviews • Variants for the trysumer • Information gathering, scanning environment • Changing market trends • ‘Seth’ element