- Subject index
What every entrepreneur needs to know about marketing a new venture
This practical text provides insights, strategies, and tips on how to apply entrepreneurial marketing concepts to increase the chances of venture success. The book focuses on how marketing can be used to find, evaluate, and exploit the right venture opportunity. It then walks students and professionals through the various phases and steps of the marketing process, highlighting specifically what is unique to and effective for entrepreneurial pursuits.
Practical Application: Each chapter is written to allow readers to readily apply the concepts to their individual ventures.; Unique Focus: The author looks beyond the “4Ps” to address forces in the external marketing environment.; Comprehensive Coverage: This book provides everything aspiring entrepreneurs need to know about leveraging marketing ...
Chapter 6: Developing New Products and Services
Developing New Products and Services
As we discussed in Chapter 2, there is often a debate about what an entrepreneurial startup needs to be successful: a superior product or service or a better business model. Frankly, I believe that a new venture needs both. A superior product or service housed within a venture with a poor business model is not likely to be successful. Conversely, a venture with a good business model but lacking a valuable product or service (as perceived by the customer) is also just as likely to fail. While we have already discussed the central elements of what constitutes a successful business model, we must now focus on the process of developing viable new products and services. It ...