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Analysis highlighting the relationship of marketing theory to marketing practice - Essay Example

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The field of entrepreneurship is booming, and the national and international interest in the subject is accelerating, since it is becoming one of the major factors to be contributing to the GDP of any country. On average, it gives employment to around 60% of the nations…
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Analysis highlighting the relationship of marketing theory to marketing practice
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Analysis highlighting the relationship of marketing theory to marketing practice

Download file to see previous pages... ding, with universities offering courses on "Entrepreneurship" and "Small Business Management" in their curriculum, so as to inculcate the desire and the interest of the students to start their own ventures when they graduate, and associations supporting entrepreneurs springing up, to help in funding and other networking contacts needed to do business. (Mpofu, 2007)
Entrepreneurship is the concept of initiative taking by a person, with the acceptance of all the risks and rewards, by capitalizing on an opportunity which was unseen by the rest. The idea is great, since it brings together the uniqueness of thoughts as well as the creativity of the common man to the front end, and helps in the start up of business, where the man is his own boss, and with no one to regulate the decision making process, or the ultimate decisions taken. (Gundry, 2007)
Marketing is also one of the oldest and the most creative disciplines in the field of business. Marketing is about making such a lucrative offer to the customer that they cannot help but buy the product you are selling. The marketing done by an entrepreneur is slightly different from the marketing done by any large, established business. But that is what the theory says. Let us examine the relationship between the marketing theory and marketing practice of an entrepreneurs marketing. (Kerin, 2004)
The entrepreneur chosen for this report is Mr. Boston Rift, who has opened an entrepreneurial venture by the name of "Book your Books". He has booked small stalls, or shops within the premises of four renowned business universities of the city. And his business is to supply the students with the books that they need for each semester, freeing them up of the hassle to go to this faraway wholesale book market and buy it.
Every academic year in each university has two semesters, Spring and Fall. And every semester, on an average, a student has 6 courses that he has to study. Every teacher prescribes a book to be bought for the ...Download file to see next pagesRead More
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