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Entrepreneurial marketing

BAM305

Marketing is especially important in entrepreneurial situations, when there is often limited time, money and marketing talent to establish a presence in a crowded market place.

This module views marketing from an entrepreneurial perspective, focusing on the different approaches required when compared to marketing for established firms and new ventures looking to act globally from the outset.

Topics covered

  • Introduction to entrepreneurial marketing
  • Customer and competitor analysis
  • Entrepreneurial market opportunity analysis
  • Entrepreneurial marketing strategies 
  • The entrepreneurial marketing plan
  • Entrepreneurial pricing and distribution
  • Entrepreneurial promotion
  • Entrepreneurial products and services development
  • Entrepreneurial branding
  • Entrepreneurial social marketing

Learning outcomes

If you complete the course successfully, you should be able to:

  • understand the different market needs of big firms and SMEs and describe how marketing has changed in the 21st century
  • understand entrepreneurship and the challenges of creating a new business
  • describe the role innovation can play in developing a market strategy, and how marketing can guide the development of new products and services
  • discuss the processes of market identification and market creation in entrepreneurial situations.
  • explain the importance of relationship marketing and social networks, and understand the role played by content marketing agencies
  • critically assess and apply marketing theories and models to new ventures
  • construct strategies to overcome challenges encountered in the planning process for new products and businesses
  • design and build an operational marketing strategy for a start-up business or new product, making best use of limited resources to ensure that the firm can establish a viable presence in the market
  • effective written communication skills for plans, strategies and outcomes
  • time management skills
  • critical thinking and analytical skills in evaluating marketing theories, models and proposed plans
  • the ability to synthesise and use information and knowledge effectively to marketing in the entrepreneurial sector
  • analytical and decision making skills
  • digital and information literacy skills
  • problem solving skills.

Assessment

Pass Mark 
The pass mark is 50% for each element of assessment.
Compensation between elements of assessment is available on this module for marginal fails between 45%–49%.

Assessment Elements 

Coursework (30% weighting) 

  • There is one item of coursework for this module which contributes to the final assessment mark for this module: 
  • Coursework: design a marketing strategy for a start-up in 2,500 words in length (maximum) (deadline – weeks 9–12). The coursework is designed to check student progress, extend and reinforce concepts covered and also test individual performance.

Examination (70% weighting) 

  • The final piece of assessment will be an unseen written examination of 2 hours’ duration. 

Essential reading

The learning content will be drawn from:

  • Chaston, I. Entrepreneurial marketing: sustaining growth in all organisations 2nd edition (Palgrave Macmillan, 2016)
  • Crane, F.G. Marketing for entrepreneurs: concepts and application for new ventures 2nd edition (Sage, 2013)

Other references

The following is an illustrative list of the reading materials that will be referred to in the module:

  • Bresciani, S. and M.J. Eppler ‘Brand new ventures? Insights on start-ups’ branding practices’, Journal of Product and Brand Management, 19(5) 2010, pp.356–66.
  • Brettel, M., A. Engelen, T. Müller and O. Schilke ‘Distribution channel choice of new entrepreneurial ventures’, Entrepreneurship Theory and Practice 35(4) 2011, pp.683–708.
  • Coget, J. ‘The Apple Store effect: does organizational identification trickle down to customers?’, Academy of Management Perspectives 25(1) 2011, pp.94–95.
  • Eggers, F., F. Eggers and S. Kraus, ‘Entrepreneurial branding: measuring consumer preferences through choice-based conjoint analysis’ International Entrepreneurship and Management Journal 12(2) 2016, pp.427–44.
  • Eisenmann, T.R. ‘Internet companies’ growth strategies: determinants of investment intensity and long-term performance’, Strategic Management Journal 27(12) 2006, pp.1183–204.
  • Flatten, T.C. ‘How entrepreneurial firms profit from pricing capabilities: an examination of technology‐based ventures’, Entrepreneurship Theory and Practice, 39(5) 2015, pp.1111–36.
     

Module author

Dr Lutao Ning

Dr Lutao Ning

MA (London), MBA (Liverpool), PhD (Cambridge)

Dr Lutao Ning is a Senior Lecturer (research track) in International Business at Queen Mary. He has previously worked as Lecturer in International Business at Durham Business School, Durham University, and was a visiting fellow at the Chinese Academy of Social Science and Peking University. His multidisciplinary background ranges from international business, open innovation, strategic management, development studies, and spatial economics.

He has successfully designed and delivered international business courses at all levels, including executive and full-time Financial Times-ranked MBA programmes at a number of international institutions.