ENTREPRENEURIAL MARKETING
ENT/MKT 403
James Boles, Professor of Marketing, Entrepreneurship, Hospitality & Tourism
Office Hours: Wednesday 2:30-4:00 though I will sometimes be involved with meetings during
these times. The best way to see me is to make an appointment for a specific time on
Wednesday or other possible days.
Materials:
1. 90 Days to Success: Marketing and Advertising Your Small Business by Mark Hoxie, 2011
Cengage Learning. ISBN 13 978 1 4354 5828 4
2. Duct Tape Marketing Revised and Updated: The world’s most practical small business
marketing guide, by John Jantsch, 2011 ISBN 978 1 5955 5131 3
3. A packet of cases from Harvard: https://cb.hbsp.harvard.edu/cbmp/access/24139888
Course Description
This course gives students the chance to develop their knowledge and thinking about
entrepreneurial opportunities by applying marketing concepts to the specific challenges of the
small business, start-up, or entrepreneurial setting. The entrepreneurial environment has a
number of marketing challenges that are different from those faced by large, established firms
and may require the entrepreneur to apply marketing techniques in a unique way:
1. New firms face a number of challenges in pursuing their objectives. These
include: having no pre-existing customer base, having to develop a customer base
from nothing, having no brand recognition, and often lacking established
relationships with customers.
2. New enterprises often face financial restrictions that limit their marketing
budgets. Given this problem, entrepreneurs often find that many conventional
marketing tools and techniques are either ineffective or unrealistic for the firm to
pursue.
3. Developing an idea and starting up a new business requires creativity and
differentiation. Entrepreneurial success is in large part determined by the ability
create novel products and/or services and identify markets which have not before
existed. Entrepreneurial marketing is uniquely focused on innovation/ product
development and creativity. These must be utilized to create something unique
and novel.
4. Finally, new ventures often represent the personal values, dreams and ideas of an
individual or a small group of “partners”. Thus, it is essential that this group
decides how to best generate the same enthusiasm in your employees that you
have for the venture, and communicate that enthusiasm to your customers so that
they too “buy-in” to the dream.
The course is builds on the knowledge and skills students have already gained in other
classes. Specifically it will challenge the students to adapt those skills and insights to the specific
challenges of the entrepreneurial situation outlined above. As a result of the emphasis on
implementation challenges, the course will feature the development of a workable Marketing
Plan. The Marketing Plan will help the student in identifying an entrepreneurial value
proposition.
Upon completion of this course, students should be able to:
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Identify the role of marketing in each stage of the entrepreneurial process;
Identify entrepreneurial opportunities from the emerging trends occurring in marketing
practice around the world;
Conduct exploratory research to uncover opportunities, customer needs and preferences
Identify ways in which marketing inputs can enhance the new product/service
development process;
Apply entrepreneurial thinking to market segmentation and targeting decisions;
Develop inexpensive yet reliable and valid approaches to conduct market research for
entrepreneurial concepts;
Identify how to network and leverage resources in entrepreneurial ventures, and ways
that marketing can facilitate both of these activities;
Demonstrate entrepreneurial approaches to formulating product, price, promotional and
distribution strategies and action programs;
Design creative approaches to marketing communications under conditions of severe
resource limitations;
The classroom pedagogy will be primarily case-based, but will also involve readings,
lectures, and class discussions. The case approach has a number of advantages; it involves the
study of many entrepreneurial marketing problems, it emphasizes practical learning over
theoretical concepts, it allows the student to develop their personal approach to the subject, and,
most importantly, it is a high-energy/ enjoyable classroom experience. However, to be
successful, case-based learning places additional responsibilities on the student; the cases require
a high level of preparation- active analysis and creativity rather than simple reading and
absorption, regular meetings with fellow students in study-groups before class is strongly
recommended, and a willingness to participate enthusiastically in class discussions is critical.
Outside of the classroom the emphasis will be on conducting face-to-face exploratory field
research.
As instructor I have the following responsibilities:
1.
2.
3.
4.
5.
Come prepared to every class with a well-thought-out class
Design my class so you can accomplish my cognitive objections listed in the syllabus
Consider that it is not always your fault if you don’t understand the material.
Create a mutually respectful classroom environment.
Recognize that sometimes I may grade a question incorrectly and not get defensive when
you politely question a grade.
As students you have the following responsibilities:
1. Come prepared to every class by reviewing previous notes and doing assignments.
2. Complete all work on time with proper thought.
3. Consider that it is not always the instructor’s fault when you don’t understand the
material.
4. Treat others (including the instructor) with respect.
5. Ask questions when you don’t understand. Asking questions is a sign of maturity, not
ignorance.
6. Understand that I am not trying to “nit-pick” when I grade you exams or homework.
However, the current economic/selling environment requires exceptionally sound and
articulate communication of ideas if one is to be successful in sales.
Grading:
Grades will be based on the following system:
Participation in class discussion of cases and selected case write-ups
25%
Mid-term Exam
25%
Final Exam
25%
Marketing Plan
25%
Classroom Contribution
This will have multiple components. First, you must attend class in order to participate. This
includes the sales presentations of other students. Second, while attending class, you must take
an active role in asking questions or making constructive comments during class discussions of
the cases and readings. It is quite likely that you will be “cold-called” to discuss various
assigned cases. These “cold-calls” will be at random throughout the discussion sessions. Thus,
the Contribution Grade is composed of: 1) the in-class case discussions, 2) the in class
readings and discussions of materials from the books, and 3) assigned case write-up(s). In
addition, attending classes where outside business people (people on the front lines in this
economy) are presenting is also important since these individuals will present materials that are
far different – and more focused on a specific business -- than what will be presented in the
lectures and cases.
Tests
The exams will be primarily multiple choice in nature and will cover the materials from the two
books, selected course readings/cases, as well as issues related to your marketing plan. There
also will be short answer questions worth approximately 10 points.
Marketing Plan:
The marketing plan is a detailed marketing plan based on the Marketing Plan Pro material. It
should be a detailed plan for a new business. It is a team project. Teams, as a rule should consist
of 4 - 6 people. In no case will a team have more than 6 members without my specific approval.
The marketing plan should be based on a FEASIBLE idea for a new business. In some
situations, I will allow an existing firm owned by a student, or an existing firm that is willing to
work with the student team, to be the subject of the marketing plan (assuming that the team is
willing to work on that topic). Obviously, an existing firm is a more realistic topic since there is
someone who believes that it is a viable business. In addition, there will be records, an existing
marketing program, and a budget from which to work.
Advice
Due to the nature of the course it is essential that you keep up with your readings and
assignments. There is nothing more certain to negatively affect your grade than to get behind. It
has been my experience that once a student gets behind during a semester, he/she rarely, if ever,
fully catches up in the class.
Final Grade A+ 97 - 100
Assignment
A (93-96)
Scale
A- (90-92)
Value
Organizationa
l equivalent
Typical
Percentage
B+ (87-89)
C+ (77-79)
D (60-69)
F (<60)
B (83-86)
C (73-76)
B- (80-82)
C- (70-72)
Outstanding
Excellence
Mastered
material
Tagged
Unacceptable
the bases
Unsatisfactor
y
Promoted
Raise
No Raise
Reviewed
Fired
15-20%
50-60%
20-25%
<5%
<5%
COURSE POLICIES:
SNAPSHOTS:
To help me more quickly learn your names (necessary for accurate evaluation of participation)
and for future references, please provide me with a copy of the picture from your ID and put
your name on the back. Ideally, you can attach this to a resume or a brief biographical sketch
regarding your educational background and work experience. This is due during the second
class period. I also ask you to sit in the same seat every class so that I can record
participation more accurately.
General Policies regarding grading: Missing over 3 classes during the semester will result in
a student being dropped from the course. While extenuating circumstances can result in this
requirement being waived, it is unlikely. If you know you will miss more than 3 classes, you
should drop the course today and add a different course with less stringent attendance
expectations.
Any grade appeal must be done within 2 weeks of the posting of grades.
Students With Disabilities: Students who have a Letter of Accommodation from the Office of
Disability Services should identify themselves to the instructor of this course as soon as possible.
That way provisions can be made to help you become as successful as possible.
Disruptive Behavior: Disruptive student behavior is student behavior in a classroom or other
learning environment (to include both on-campus and off-campus locations), which disrupts the
educational process. Disruptive class behavior for this purpose is defined by the instructor.
Such behavior includes, but is not limited to, verbal or physical threats, repeated obscenities,
unreasonable interference with class discussion, making/receiving personal phone calls or pages
during class, leaving and entering class frequently in the absence of notice to instructor of illness
or other extenuating circumstances, and persisting in disruptive personal conversations with
other class members. For purposes of this policy, it may also be considered disruptive behavior
for a student to exhibit threatening, intimidating, or other inappropriate behavior toward the
instructor or classmates outside of class. When disruptive behavior occurs in a class…the
instructor will warn the student. The warning will consist of orally notifying the student that
his/her behavior is disruptive and that it must cease immediately or the student will face removal
from the classes.
Academic Integrity (Honesty): All university and college regulations concerning withdrawal
and academic honesty will apply. Students are expected to recognize and uphold standards of
intellectual and academic integrity. The university assumes as a basic and minimum standard of
conduct in academic matters that students be honest and that they submit for credit only the
products of their own efforts. Students should be familiar with the university’s policy on issues
such as plagiarism, unauthorized collaboration, falsification, and multiple submissions. Lack of
knowledge of this policy is not an acceptable defense to any charge of academic dishonesty. It is
expected that you have visited and read the website regarding Academic Integrity.
http://sa.uncg.edu/handbook/academic-integrity-policy/
Student Obligations
a. Students should recognize their responsibility to uphold the Academic Integrity Policy
and to report apparent violations to the appropriate persons. Students who do not
understand the Policy or its application to a particular assignment are responsible for
raising such questions with their faculty member. By enrolling in the University, each
student agrees to abide by the Academic Integrity Policy. At the faculty member’s
discretion, each student may be required to attest to abiding by or sign the Academic
Integrity Pledge given below on all major work submitted to an instructor. A student’s
work need not be graded until he/she has signed the statement. In signing the pledge, the
student indicates his/her knowledge that the Academic Integrity Policy governs his/her
academic activities at the University.
Academic Integrity Pledge:
I HAVE ABIDED BY THE UNCG ACADEMIC INTEGRITY POLICY ON THIS
ASSIGNMENT.
Signature_______________________________ Date___________
1/15
1/22
1/29
Introduction of the course
Divide into marketing plan
teams
Lecture on role of marketing and sales in business & Read Chapter 1 & 2 in Duct
Entrepreneurship Metrics
Tape Marketing
Read Blue Ocean Strategy
Building a Brand DVD
(Ca. Management Review
Read the Harvard Readings for discussion.
version); The Customer has
Escaped; and, Creativity
and Innovation in
Organizations
Lecture on Buyer Behavior
Case Analysis: What is Wrong at CoolBurst? (HBR
Case)
Read Ch. 13-14 in Duct Tape
Marketing;
Also Read Ch. 3 in 90 Days to
Success;
Marketing Plan Teams should
be finalized
Prepare CoolBurst Case
2/5
Case Discussion: Rosewood Hotels
Prepare: Rosewood Hotels
Case
Planning Your Business Image
Read Chapters 3-5 in Duct
Tape Marketing
2/12
2/19
2/26
Prepare Case Write-up of the Conroy Acura Case
(as a Group) turn in for a grade (2 page executive
summary format. Write-up is due either in hard
copy (turned in to my mailbox/office) or via email
no later than Feb. 14th.
Topic for Marketing Plans
should be finalized
Prepare: Conroy Acura
Case;
Also, use this time as a work session for your
Marketing Plan Project
Pricing DVD
Lecture on Pricing
Read Chapter 2, and 10 in 90
Days to Success
Discuss the Fashion Channel Case
Prepare Case: The Fashion
Lecture on Advertising and Promotions
3/5
3/19
Guest Speaker
Negotiations DVD
Discuss: Phillips Foods Inc. Case
Discuss Golf Logix Case
Channel
Read: Chapter 4, 7. & 8 in 90
Days to Success
Prepare Case: Phillips
Foods Inc.- Introducing
King Crab to the Trade.
Prepare Case: GolfLogix:
Measuring the Game of Golf
3/26
4/2
4/9
4/16
4/ 23
Final
exam
period
First Exam: 30 multiple choice questions and
two- four short answer questions
IN THE SECOND HOUR OF CLASS, WE WILL
Discuss MyTeam.Com case
Outside Assignment:
CASE Write-up Assignment: Just US Café (Due
via email on April 4th.
Prepare Case: Fiji Water
Also, meet in your group to begin finalization of
your Marketing Plan
Group meeting day for
working on your marketing
plan.
Read Chapters 11-12 in Duct
Tape Marketing;
Personal Selling for small firms (Lecture) and
discussion of assigned sales article and
Strategic Selling DVD
DVD on Influence
Discuss Cardio Thoracic Case
Presentation of Marketing Plans (All marketing
plans are due on this date)
Final Exam 30-40 multiple choice questions and
2 – 4 short answer questions
Prepare Just US Café in a 2
page executive summary
format (individual write-up)
Prepare Cardio Thoracic
Case
MARKETING TEAM PARTICIPATION SHEET
NAME ______________________________________________
TEAM PROJECT: ________________________________
This sheet is to be completed individually and privately by each team member prior to coming
to class. Each team member’s participation evaluation sheet should be included with the team’s
final project.
Using a 100 point scale, please grade each member of your team based on their contribution to
the semester project. Record the grades given in the blank spaces below adjacent to each
team member’s name. Include the names and grades of all individuals in your group (including
yourself):
TEAM MEMBER’S NAME
POINTS FOR CONTRIBUTION TO FINAL PROJECT
1. __________________________ __________ POINTS
2. __________________________ __________ POINTS
3. __________________________ __________ POINTS
4. __________________________ __________ POINTS
5. __________________________ __________ POINTS
6. __________________________ __________ POINTS
On the space provided below (and on the back of this page if necessary) please explain the
logic for the points you awarded. Please also indicate briefly the responsibilities of each team
member: