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ENTREPRENEURIAL MARKETING MK - 402 School of Business and Economics Resource Person Program Prerequisite for the course Credit Hours Semester Class Timings Manqoosh ur Rehman BBA All Marketing Core Courses 03 Spring 2014 Monday 8:00am to 11:00am Counselling Hours Monday Tuesday Thursday 12:00 pm to 02:30 pm 12:00 pm to 02:30 pm 03:00 pm to 06:00 pm Telephone # 111-300-200 Ext. 3393 0302-4556733 E-mail [email protected] INTRODUCTION Marketing is absolutely critical for a new company operating without any safety net. Finances are not enough with startup companies to compensate for a bad product or a poor customers’ insight. The course is about the unique marketing challenges that are faced by an entrepreneurial and start-up company. Although marketing concepts, strategies, and tactics have many similarities across various types of companies, industries, and products, the marketer in an entrepreneurial company faces many additional challenges. These challenges are over and above all other marketing challenges during initial phases of the product and industry life cycle. This course specifically looks at how to develop and implement a marketing plan in such entrepreneurial contexts. The focus is on strategies and tactics that work for entrepreneurs on limited budgets and the role of strategic alliances that can help achieve the entrepreneur’s marketing objectives. UMT-School of Business and Economics MK-402 1 of 3 LEARNING OBJECTIVES The course is designed for those students who want to launch and excel in their entrepreuenurial ventures. The key emphasis is on understanding the role of marketing in conceiving, executing, and managing entrepreneurial ventures. Upon successful completion of this course, students should be able to: 1. Differentiate between the marketing mechanisms of large businesses and entrepreneurial ventures. 2. Understand the impact of marketing environment on customers’ product acceptance behavior for entrepreneurial ventures. 3. Understand the unique ways in which marketing process must be tailored to the entrepreneurial environment. 4. Understand the unique dimensions of marketing mix elements for entrepreneurial ventures. 5. Examine the range of strategies and tactics available to entrepreneurs to market their vision, company, and products. LEARNING METHODOLOGY This course will be largely delivered through the case studies and articles on entrepreneurial marketing. Discussions on these cases and research articles are stimulated and invited to understand and solve the unique issues associated with entrepreneurial marketing. The case studies, articles, and their related material will be available on Moodle. Participants are expected to read and comprehend the material, prepare the case study/research article and discuss it in small study groups before coming to the class. Participants are expected to not only attend all classes but also fully participate in discussions in a meaningful and productive manner. Plagiarism is severely punished as per university policy. Participants are advised to refrain from copying or claiming credit for anything which is not their own. The same applies to internet downloads. All sources of data or text must be acknowledged properly. GRADING SYSTEM Quizzes Assignments Class Participation Case/Article Presentations Mid Term Exam Project Total Sessional Evaluation Final Exam Total UMT-School of Business and Economics 10 % 10 % 05 % 10 % 15 % 15 % 65 % 35 % 100 % MK-402 2 of 3 RECOMMENDED TEXT BOOK 1. Frederick G. Crane, Marketing for Entrepreneurs: Concepts and Applications for New Ventures, 2nd Edition, 2013, Sage Publications REFERENCE MATERIAL Will be available with photocopier in the form of a course pack CALENDAR OF ACTIVITIES Weeks Topics Chapters 1 Marketing and Entrepreneurship 1 2 Identifying Marketing Opportunities for Entrepreneurial Ventures 2 3 Understanding Customers and Competition for Entrepreneurial Ventures 3,4 4 Understanding Customers and Competition for Entrepreneurial Ventures 3,4 5 STP Challenges Involved in Entrepreneurial Marketing 5 6 Developing New Products & Services 6 7 Developing & Sustaining the Entrepreneurial Brand 7 8 Mid Term Exam 9 Pricing in Entrepreneurial Ventures 8 10 Entrepreneurial Channel Development and Supply Chain Management 9 11 Entrepreneurial Promotion 10 12 The Entrepreneurial Marketing Plan 11 13 Project Presentations 14 Project Presentations 15 Project Presentations UMT-School of Business and Economics MK-402 3 of 3