- 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 8: Entrepreneurial Pricing
One of my students in my Creating Enterprise for Women Program had developed a business based on beautiful Aboriginal art that she created. However, she could not determine what price to charge for her art. One of the accountants teaching in the program helped her to determine her costs and then recommended a price that would cover her costs and provide a small profit margin (cost-plus pricing). But I was not convinced this was the correct strategy. I told her that while cost-based pricing is a simple approach to set prices, it might not be the best approach. Price too high (because of high cost structure) and customers might walk away. Price too low and customers may not buy because they might ...