BUS131D_Lecture2_Handout.ppt

BUS131D_Lecture2_Handout.ppt - Introduction to Marketing in...

Info iconThis preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Introduction to Marketing in New Ventures: The Foundation of Entrepreneurship Dr. Michael Merz Department of Marketing & Decision Science College of Business San Jose State University Dr. Michael Merz Department of Marketing & Decision Sciences College of Business, San Jose State University 2 Todays Agenda Challenges of the Entrepreneurial Environment Entrepreneurship What is an Entrepreneur? Characteristics of Entrepreneurs The Meaning of New Venture Types of New Ventures Old Ventures vs. New Ventures The World of the Entrepreneur Benefits/Drawbacks of Entrepreneurship Forces Driving Entrepreneurship Cultural Diversity of Entrepreneurship What is Marketing? Importance of Marketing New Ventures Value of Marketing New Ventures Dr. Michael Merz Department of Marketing & Decision Sciences College of Business, San Jose State University 3 Challenges of the Entrepreneurial Environment Liability of newness Low financial resources Demand for creativity and novelty Unique levels of uncertainty and ambiguity Unexpectedness New ventures as vehicle of personal values, dreams, and ideas Dr. Michael Merz Department of Marketing & Decision Sciences College of Business, San Jose State University 4 Entrepreneurship Entrepreneurship = A process by which individuals pursue opportunities without regard to resources they currently control. = A way of thinking and acting that is opportunity obsessed, holistic in approach and leadership balanced for the purpose of value creation. = Not a genetic trait; it is a skill that most people can learn! Barringer and Ireland (2008); Zimmerer, Scarborough, and Wilson (2008) Dr. Michael Merz Department of Marketing & Decision Sciences College of Business, San Jose State University 5 What Is an Entrepreneur? A person who creates a new venture in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them. Anyone, regardless of age, race, gender, color, national origin, or any other characteristic, can become an entrepreneur (although not everyone should). Dr. Michael Merz Department of Marketing & Decision Sciences College of Business, San Jose State University 6 Desire for responsibility Preference for moderate risk risk eliminators Confidence in their ability to succeed Desire for immediate feedback High level of energy Future orientation Opportunity versus necessity entrepreneurs serial entrepreneurs: leapfroggers versus jugglers Skilled at organizing Value achievement over money Some other characteristics: High degree of commitment, tolerance for ambiguity, flexibility, tenacity, diversity....
View Full Document

Page1 / 27

BUS131D_Lecture2_Handout.ppt - Introduction to Marketing in...

This preview shows document pages 1 - 7. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online