Week 9 Reading Reflection

The biggest surprise I found in the reading is how effective marketing is based on the three key elements of 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.

I was  confused to read that competitive edge factors should be noted because many services are known to be competitive to each other.

Two questions I would ask the author:

1. What is the true difference between marketing in entrepreneurship compared to marketing in anything else?
2. Do environmental factors affect pricing strategies?

In the reading I disagreed with the author about the marketing research process and how gathering secondary data is a step before gathering primary data. I thought the author 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.