ABSTRACT
This chapter introduces the marketing strategy that entrepreneurs uses to enter the market and gain their market share. Entrepreneurs must also describe their potential customers, how they plan to attract and retain them, and their financial profiles, needs, purchasing behaviour, price sensitivity etc. They must also outline sales promotion plans, advertising programmes, selling methods, purchasing plans, suppliers, distributors, and research and development. The chapter provides the main types of promotional tools that entrepreneurs may use such as, advertising, mail shots, leaflet distribution, demonstration, small-scale trading, sale by samples, and trade exhibitions. A mix of ingredients can produce different end results. Such as, a high-quality image with a prestige location and sophisticated advertising is not consistent with very low prices and untidy staff. Aspects of the "marketing mix" to consider are: product, production, pricing policy, promotion, people, and place.
