The traditional marketing concept (e.g. the “Kotlerian Approach”) was developed on the basis of and for large, established companies. However, this strategic, planned, and resource intensive approach has been found to be inadequate for small, young and resource-constrained companies. In particular, the focus on strategic planning is nowadays considered inadequate for startups that need to establish themselves and grow in fast-paced environments.
This course introduces a marketing approach for new, entrepreneurial firms. This “bottom-up” approach starts with the identification of market opportunities and then tries to attract and later grow a customer base. Therefore, it presents a contrast to the traditional, planning intensive “top-down” marketing concept which follows the sequence “market segmentation – target market selection – positioning.”
This course introduces entrepreneurial marketing concepts in line with the customer development approach. Here, a key element is the Business Model Canvas, a venture planning tool that has rapidly gained popularity in the startup world.
Whereas the course is geared towards creating a marketing program for new firms, research and best practice examples show that the entrepreneurial marketing concept is increasingly adopted by large, established companies. Therefore, this class is not only valuable to those who plan to work in a startup environment but for everyone with an interest in a career in marketing.
