Entrepreneurial Startup Marketing - Marketing Plan for the New Venture Applicum

Abstract

The concept of an own business seduces many people to become founders with an innovative product or service. Despite this rising popularity in Switzerland, just three out of five startups can boast real success. A good idea is no longer sufficient to survive in the market and entrepreneurs often underestimate the effort and surrounding aspects required to transform an idea into a business. In this process traditional and new marketing approaches with key aspect on entrepreneurial marketing plays a vital role in the survival and expansion of a new business venture. Creating a business focuses on analysis and developing a suitable communication strategy to promote a product or service in a manner that delivers the appropriate message and value at the right place and time. However, entrepreneurial marketing for new ventures differs from traditional marketing approaches. Many companies fail to address those crucial marketing implications that are essential for a business to survive. Although many startups have entrepreneurial visions and ideas, a detailed strategy of the company's development and market penetration might be lacking or altogether absent.