Entrepreneurial Startup Marketing - Marketing Plan for the New Venture Applicum
This bachelor thesis aims to increase the awareness of entrepreneurial marketing implications in terms of neu ventures in Switzerland. Particular emphasize lies on creating a proper marketing plan for the new venter “Applicum”.
Fabiana Di Loreto & Massimiliano De Filippo, 2019
Bachelor Thesis, Applicum (own startup idea)
Betreuende Dozierende: Rudolf Ergenzinger
Keywords: Entrepreneurship, Startup, Marketing, Marketing Plan
The concept of an own business seduces many people to become founders with an innovative product or service. Despite this rising popularity in Switzerland, just three out of five startups can boast real success. A good idea is no longer sufficient to survive in the market and entrepreneurs often underestimate the effort and surrounding aspects required to transform an idea into a business. In this process traditional and new marketing approaches with key aspect on entrepreneurial marketing plays a vital role in the survival and expansion of a new business venture. Creating a business focuses on analysis and developing a suitable communication strategy to promote a product or service in a manner that delivers the appropriate message and value at the right place and time. However, entrepreneurial marketing for new ventures differs from traditional marketing approaches. Many companies fail to address those crucial marketing implications that are essential for a business
to survive. Although many startups have entrepreneurial visions and ideas, a detailed strategy of the company's development and market penetration might be lacking or altogether absent.
This empirical paper begins with a classical introduction of the conceptual and theoretical frameworks derived from existing literature and statistic reviews. Entrepreneurial marketing issues for startup businesses are analyzed for a deeper understanding of this thematic. Models and instruments that can be used to develop an appropriate marketing plan for Applicum are identified and properly adapted. To answer the core research question, the authors decided to employ an empirical analysis. A qualitative exploration of an expert interview with the founders of Yooture AG, an online Swiss application platform, helps to underline theoretical concepts and to provides crucial work insights and experience into the sector of application platforms for new ventures. Special attention is paid during the
interview to differences between theory and practice. Hence, the research model is conceived on the basis of theoretical knowledge and expert insights. To best understand the customer in terms of their needs and how to reach them, the focus is placed on quantitative analysis in form of two online surveys with target groups. These surveys are based on defined hypotheses. These insights and various entrepreneurial marketing perspectives and alternatives arrange the foundation
upon which a proper marketing plan and strategy for the new venture Applicum can be developed. Finally, the results are interpreted and implications for Applicum are defined. This paper identifies similarities and differences between literature review and practice and provide an answer to the defined research questions. Moreover, it highlights limitations and stipulate recommendations and expected outcomes from which to draw final conclusions on the concepts applied. After summarizing all key findings, the authors provide an outlook of future activities and next steps for the new venture Applicum.
The author explores that one of the major mistakes a startup can make is to ignore the utmost importance of marketing and thus, perform marketing planning in a rather informal way. The lack of a marketing plan or even insufficient analysis of the market has an immense impact on a company’s outcome and thus on its success. Without research, a startup is not able to establish a strategic marketing plan. Upon analysis of the survey results, the findings showed that high uncertainty and misunderstanding target groups and competition can lead to a company conducting a faulty evaluation of conditions and thus, following a flawed strategic planning approach. In conclusion, starting a new venture that foster innovation in a specific market area, a founder has to consider diverse aspects with which starting a startup is associated. Working on such a project demonstrates that, while many theories on entrepreneurship and marketing exist, the real world often diverges significantly from this ideal picture and hence, an array of differences has been identified for the project Applicum.
Studiengang: Business Administration International Management (Bachelor)
Fachbereich der Arbeit: Strategie, Marketing & Kommunikation