Minimum 3 Pages Response/Double Line Spacing
Discuss how you are going to market your entrepreneurial niche in this competitive world by exploring the various qualitative and quantitative strategies.
Entrepreneurial niche is a new concept in marketing that is used by the management firms to bear risks in a new venture that makes confidence in firms' employees to face difficulties and discouraging circumstances fruitfully and in profitable manner (Allen, 2011). It is a rational process of significant marketing strategies and processes that are used to make profitable position in market. In the paper, use of entrepreneurial niche in the marketing of the firm will be discussed to show the importance of this in competitive world market by exploring qualitative and quantitative marketing strategies.
For getting advantages from competitive marketplace, firms are using several marketing strategies to focus on the customers' orientation and their willingness related to purchase products (Lumpkin & Katz, 2009). With the help of these marketing strategies, firms can be able to manage both entrepreneurial niche and managerial qualities that explores various qualitative and quantitative strategies.
Quantitative strategies: The entrepreneurial niche strategy is so important for firms to enter in competitive market because it provides a big picture to managers for making energetic marketing campaign (Vaz, Morgan & Nijkamp, 2006). Hence, this marketing strategy explores some other marketing strategies that can be useful for firms to obtain its business goal in competitive marketplace by reducing the impact of competitors' strategies.
Increase Sales: The main goal of any firms is to increase its sales; therefore, firms go in different place of market. So, the entrepreneurial niche strategy could be useful because it gives a path for firms to set its sales target for next financial years (Schaltegger, 2002). This marketing strategy is measurable for firms in great competitive market and it can help the strategic management of firms to review the strength of competitors ...
Qualitative and quantitative marketing strategies are examined.