1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
Effective marketing is based on three key elements: marketing philosophy, market segmentation, and consumer behavior. According to the textbook, a new venture must integrate all three elements when developing its marketing concept and its approach to the market.
2) Identify at least one part of the reading that was confusing to you.
I was confused to read that competitive edge factors should be noted because many services are known to be competitive to each other.
3) If you were able to ask two questions to the author, what would you ask? Why?
- Is primary or secondary data more valuable to the entrepreneur?
- Do environmental factors affect pricing strategies?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I thought Kuratko was not fully correct when he claimed that a new venture will survive only if a market exists for its product or service. I believe new ventures can make their own product market.
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