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2021-3-44510 Presentation.pptx
1. The role of entrepreneurial marketing in the
sales performance of the new ventures in the
UAE
SUBMITTED BY:
2. OUTLINE OF PRESENTATION
THE PRESENTATION WILL COVER THE MAIN SECTIONS OF THE RESEARCH GIVEN
BELOW;
SYNOPSIS FOR PROJECT GOALS
RATIONALE FOR THE SELECTION
OUTCOMES SUMMARY
CRITICAL REFLECTION ON THE EXPERIENCE
REFLECTION ON THE DEVELOPMENT OF ENTREPRENEURIAL SKILLS
WHAT NEXT: FUTURE DEVELOPMENT FROM BOTH ACADEMIC AND
PROFESSIONAL PERSPECTIVES
SOURCES USED FOR THE RESEARCH
3. PROJECT GOALS
TO STUDY THE MAJOR ASPECTS AND
DIMENSIONS OF ENTREPRENEURIAL
MARKETING EMERGING IN UAE.
TO SUGGEST SOME PRACTICAL IMPLICATIONS,
WHICH BEST COMPLEMENT THE
ENTREPRENEURIAL PRACTICES WHICH WILL
IMPROVE FURTHER OPERATIONS OF NEW
VENTURES.
TO UNDERSTAND THE ENTREPRENEURIAL
MARKETING IMPORTANCE AND ITS ROLE IN
THE NEW VENTURE’S SALES PERFORMANCE
4. RATIONALE FOR THE SELECTION
TO INVESTIGATE THE ROLE OF ENTREPRENEURIAL MARKETING, IT IS ESSENTIAL
TO KNOW THE IMPORTANCE OF ENTREPRENEURIAL MARKETING AND WHY IT IS
IMPORTANT FOR NEW VENTURES TO ACHIEVE SUCCESS
RECENTLY, IT IS SEEN THAT MOST OF THE NEW VENTURES PREFER TO START
MAKING AND SELLING PRODUCTS DIRECTLY RATHER THAN THINKING ABOUT
THE VALUE OF ENTREPRENEURIAL MARKETING RESEARCH (RASTKHIZ ET AL.,
2019).
5. OUTCOMES SUMMARY
BY SUMMARIZING THE OUTCOMES, WE CAN SAY THAT ACHIEVING HIGH
PRODUCTIVITY WITH AN ENTREPRENEURIAL MARKETING TEAM CAN SEEM LIKE A
DIFFICULT TASK.
• AT PRESENT, THERE ARE SO MANY OTHER CHALLENGES THAT COMPANIES FACE
ON A DAILY BASIS IN THE UAE.
• SPECIFICALLY, NEW VENTURES IN THE UAE HAVE TO MAKE SOME EXTRA
EFFORTS TO POSITION THEMSELVES AND STAY IN THE MARKET IN FRONT OF
THEIR MARKETS.
• THE ACHIEVEMENT OF THIS RESEARCH OBJECTIVES WILL DEPEND ON THE WAY
IN WHICH NEW VENTURE USE MARKETING TOOLS.
6. CRITICAL REFLECTION ON THE EXPERIENCE
• MARKETING FOR ENTREPRENEURS IS A DEMANDING CONTEXT, WHICH REQUIRES
CARRYING OUT A SERIES OF STUDIES AND MARKET ANALYSIS (BAI, LIU AND
ZHOU, 2020).
• WHEN AN ENTREPRENEUR HAS THE VISION OF GENERATING A PRODUCT OR
SERVICE TO SATISFY DEMAND IN A MARKET, WHOSE SUPPLY SECTOR MAY OR
MAY NOT EXIST, NEW VENTURES NEED TO ADDRESS AND MANAGE VARIOUS
FACTORS TO START THEIR VENTURE SUCCESSFULLY.
• ACCORDING TO GENC, DAYAN AND GENC (2019), BUSINESS MARKETING IS NOT A
TRADITIONAL MARKETING IDEA; HOWEVER, IT IS FOR CREATIVITY AND
INNOVATION
7. REFLECTION ON THE DEVELOPMENT OF
ENTREPRENEURIAL SKILLS
IT IS DIFFICULT FOR ANY NEW VENTURES TO TARGET ALL MARKETS AT THE SAME
TIME, THEREFORE; EACH NEW VENTURE SEEKS TO FOCUS ON A SPECIFIC MARKET
THAT ACHIEVES ITS MARKETING, TECHNICAL AND FINANCIAL FEASIBILITY
BETTER THAN OTHER MARKETS.
THE NEW VENTURES CAN MAKES ADJUSTMENTS TO THE TARGET MARKETING MIX
TO BE MORE SUITABLE FOR THE BENEFICIARY CATEGORY, WHICH INCLUDES PRICE,
PRODUCT, PROMOTION, DISTRIBUTION CHANNELS, HUMAN RESOURCES,
ACTIVITIES, AND ASSETS (YUAN ET AL., 2018).
8. WHAT NEXT: FUTURE DEVELOPMENT FROM BOTH
ACADEMIC AND PROFESSIONAL PERSPECTIVES
WHILE DEVELOPING NEW VENTURES CAPABILITIES, IT INCLUDES:
• EFFECTIVE COMMUNICATION
• INFORMATION GATHERING
• MARKET ANALYSIS
• MEASUREMENT AND DEVELOPMENT OF RESULTS
• PLANNING, INCREASING SALES
• IMPROVING PRODUCTIVITY
• DEVELOPING PRODUCT QUALITY AND ITS REFLECTION ON ACHIEVING PROFITS
AND CASH FLOWS
9. REFLECTION ON THE DEVELOPMENT OF
ENTREPRENEURIAL SKILLS
FEEDBACK FROM THE BEGINNING
EFFECTIVE MANAGEMENT OF ENTREPRENEURIAL MARKETING
INTENSITY IN THE MARKETING TOOLS
WORK ON PRODUCTION STRATEGIES ON THE BASIS OF FUTURE PREDICTIONS
LINKS WITH POTENTIAL CUSTOMERS
INCREASE TRAINING OF STAFF
OFFER A PERSONALIZED TREATMENT TO EACH CLIENT
10. REFERENCES
• BAI, W., LIU, R. AND ZHOU, L., 2020. ENHANCING THE LEARNING ADVANTAGES OF NEWNESS: THE ROLE OF INTERNAL SOCIAL CAPITAL IN THE
INTERNATIONAL PERFORMANCE OF YOUNG ENTREPRENEURIAL FIRMS. JOURNAL OF INTERNATIONAL MANAGEMENT, 26(2), P.100733.
• GENC, E., DAYAN, M. AND GENC, O.F., 2019. THE IMPACT OF SME INTERNATIONALIZATION ON INNOVATION: THE MEDIATING ROLE OF THE MARKET
AND ENTREPRENEURIAL ORIENTATION. INDUSTRIAL MARKETING MANAGEMENT, 82, PP.253-264.
• KOWALIK, I. AND DANIK, L., 2019. MARKETING ACTIVITY OF INTERNATIONAL NEW VENTURES–APPLICATION OF THE EMICO FRAMEWORK.
JOURNAL OF BUSINESS & INDUSTRIAL MARKETING.
• MARTIN, S.L. AND JAVALGI, R.R.G., 2019. EXPLAINING PERFORMANCE DETERMINANTS: A KNOWLEDGE BASED VIEW OF INTERNATIONAL NEW
VENTURES. JOURNAL OF BUSINESS RESEARCH, 101, PP.615-626.
• RASTKHIZ, S.E.A., DEHKORDI, A.M., FARSI, J.Y. AND AZAR, A., 2019. A NEW APPROACH TO EVALUATING ENTREPRENEURIAL OPPORTUNITIES.
JOURNAL OF SMALL BUSINESS AND ENTERPRISE DEVELOPMENT.
• WANG, Z. AND KIM, H.G., 2017. CAN SOCIAL MEDIA MARKETING IMPROVE CUSTOMER RELATIONSHIP CAPABILITIES AND FIRM PERFORMANCE?
DYNAMIC CAPABILITY PERSPECTIVE. JOURNAL OF INTERACTIVE MARKETING, 39, PP.15-26
• YANG, M. AND GABRIELSSON, P., 2017. ENTREPRENEURIAL MARKETING OF INTERNATIONAL HIGH-TECH BUSINESS-TO-BUSINESS NEW VENTURES: A
DECISION-MAKING PROCESS PERSPECTIVE. INDUSTRIAL MARKETING MANAGEMENT, 64, PP.147-160.
• YUAN, H., XU, W., LI, Q. AND LAU, R., 2018. TOPIC SENTIMENT MINING FOR SALES PERFORMANCE PREDICTION IN E-COMMERCE. ANNALS OF
OPERATIONS RESEARCH, 270(1), PP.553-576.
Editor's Notes
Dear Audience, I [name of the student] came here to present my research topic about how entrepreneurial marketing helps the new ventures to improve their sales performance. Therefore, the purpose is to motivate the new ventures to avail the entrepreneurial opportunities by using the marketing strategies that will definitely improves the sales performance and give them strength to stay with their competitors in the competitive market.
In this slide, I am presenting outline of the research. It will include the project goals and the justification for selecting the research. Both sections play a key role in any research because these sections describes the need for performing new research. After that, I will provide a critical reflection on the existing literature by providing the examples of previous researches done on the similar topic; however, there were some lacks that would be filled by our research. Analysis, the most important section of the research that evaluates the opportunities and ideas given in the overall research. In the end, there must be a strong conclusion provided along with recommendations to improve the sales performance of the new ventures. A list of sources that were used to complete the research will also be mentioned in the end of this presentation.
Here, I am mentioning the aim of research is to discuss the major dimensions of entrepreneurial marketing, and to analyze its emerging role in the sales performance of new ventures operating in the UAE region.
I have also provide certain goals of my study as mentioned below;
To study the major aspects and dimensions of entrepreneurial marketing emerging in UAE.
To suggest some practical implications, which best complement the entrepreneurial practices which will improve further operations of new ventures.
To understand the entrepreneurial marketing importance and its role in the new venture’s sales performance
Above objectives are mainly for the development of future growth of the new ventures because the research is investigation the role of entrepreneurial Marketing to improve the sales performance of the new ventures in the UAE. Moreover, the project has specific goals that are required to meet with the conclusion of the study, as the objectives will gives strength to the research.
I am providing a good rationale for doing the research, as I found it necessary to justify that why we are selecting the topic which specifically talking about the role of entrepreneurial marketing adopted by the new ventures of the UAE to improve the sales performance. Sales performance is one of the important aspects that must be considered by the entrepreneurs think about to start new business.
My research work is trying to justify to the audience that the topic is important and what was the purpose behind conducting the study on this topic. And I think that the research is more relevant for small entrepreneurs or new ventures, as the initial months can be risky due to new entrepreneurs, as they need to raise the sales and customers as quickly as possible that could only be conceivable through strong market research.
In a summarized way, I must say that new technologies have emerged and have become popular to make entrepreneurial Marketing processes simpler and more efficient, and to help the new venture teams for which it has been focusing on three basic needs:
Prove the value of Marketing.
Transform your strategy for the new reality.
Bring results with an impact on sales.
Also, new ventures must take care of the thing that whatever the size of your team and whatever problems it faces, don't be discouraged by difficulties. Always seek continuous improvement to increase team performance, either individually or collectively. Therefore, it is very difficult to test the results that entrepreneurial marketing can bring without a tool that supports in this and allows you to automate your processes.
In summary, I must say that to be successful in entrepreneurial marketing, new ventures must motivate the collaborators (staff), continually raise the quality of products and services, strictly control the costs and of course focus on customers by understand them as partners rather than as buyers. Therefore, by applying all these, new ventures can definitely improve their sales performance.
In this slide I am providing a reflection on the experience, focusing on the entrepreneurial marketing to improve the performance of the new ventures raised in the UAE, because the success of company is depends on the sales and profitability which makes the company more competitive for others. Some of the main literature points will be discussed critically.
In the first point, I have mentioned that marketing is an essential tool entrepreneurship is demanding for; however, it needs a lot of research about the market as depicted by Bai, Liu and Zhou (2020).
The second point discusses that new ventures need to make an extra effort to become a successful entrepreneurs. I have learned from the experience that they need to satisfy their customers with their services or products.
The third point was revealed by Genc, Dayan and Genc in 2019 that Marketing is all about innovation and creativity. I think that new ventures must do something new and attractive because traditional marketing idea will not work.
In this slide, I am providing you the information about the development of entrepreneurial skills and competencies.
I also observed from the research of Wang and Kim (2017) that the new ventures must need to identify their customers, competitors and the marketing mix rolling to formulating the marketing and sales strategy for enhancing sales performance.
Here, I am also mentioning a practical implication in the second point that must be followed by the new ventures, because I think this will improve entrepreneurial skills which may help the sales performance if below implications are under practice.
I have seen that the new ventures and business models emerge to give respond to new consumer needs and preferences. On the other hand, new ventures need to use novel methods to connect with customers in the UAE. Therefore, I observed that they have to face the challenge: How to capture the attention and convince an increasingly demanding consumer, saturated with customer information?
First of all, I think that a strong brand name is a great competitive advantage for the new ventures, especially in times of crisis like the current one (COVID’19). The challenge is to get the right marketing tools to convince the rest of the investors of the competitive advantage of having a strong brand image (Yang and Gabrielsson, 2017).
Secondly, on many occasions there is a great disparity of opinions about the message that must be conveyed to the consumer at times like today. The message should focus on the quality of the product, the price, the value, the promotional activities. This is what I called an effective communication for improving the sales performance.
In this slide, I am presenting future research based on the results of analyzing the entrepreneurial skills that were provided by using the Qualitative analysis technique.
I have learned that it is essential for the new ventures that they should improve and develop the skills for success in their target region and the most Important recommendations to improve sales performance are summaries below;
Feedback from the beginning: Listening to the customer must be a constant in the sales process, both in the early and late stages. When this is the case, companies produce more effective and satisfying products (Kowalik, I. and Danik, 2019).
Good planning and effective management of entrepreneurial marketing activities
Achieving alignment between the production strategy and the future predictions
Use unconventional marketing tools
Links with potential customers: A good salesperson attracts new customers in any situation, place or circumstance. Contacts have the virtue of multiplying messages; The more contacts are established, the more likely a brand will position itself in the market (Martin, S.L. and Javalgi, 2019).
Increase training of staff: Members of the sales team must have an adequate level of training that must be updated often. When this is not the case, new ventures must do their best to ensure that their members obtain the necessary skills in this regard.
Offer a personalized treatment to each client: The level of consumer satisfaction depends to a large extent on the way in which their request is attended by giving its complete importance.
Here I am mentioning the sources that I used in the completion of research and presentation.
