entrepreneurial marketing
DESCRIPTION
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.TRANSCRIPT
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Entrepreneurial Marketing StrategiesTHE DIP SHOP & REVIVE
FARZAN SHEIKH
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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
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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
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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