The top reason why new ventures fail is absence of a clear market need for the product. This is according to CB Insights which cited it as the top of the first twenty reasons for venture failure in a 2018 article.
Marketing for Entrepreneurs is a short 100% online, “non-academic” course, whose aim is to help entrepreneurs avoid start-up failure as well as successfully prepare their business concept or idea for funding. After taking this course, potential entrepreneurs will be able to communicate the viability of their business idea based on a careful assessment of the market for the product, rather than on gut feeling and speculation.
Entrepreneurs and potential entrepreneurs are usually aware that lending institutions require financial projections as the basis for offering them funds to develop their business idea. However, many entrepreneurs are unaware of the fact that these projections are based on revenue forecasts which in turn, are based on market demand for the product. In other words, these all important projections are based on the most fundamental principle of Marketing: understanding the market for the product.
This point is missed by many (including some lending institutions, regrettably) because of the misconception that Marketing is simply about advertising and promotion. Commonsense suggests that there can be no viable business without both a product AND a market for that product. Despite this, most entrepreneurs devote considerable attention to the development of the product, but very little, if any, to a serious assessment of the market demand for the product. The result is often early failure of the business venture.
Contrary to popular belief, therefore, Marketing of your venture begins, not with the first set of advertising, but at the very concept stage with a clear assessment of the market for the product!
ESC 112 addresses the issues raised earlier above in a systematic manner and provides guidelines that you can apply immediately to your business idea. Some of the critical questions answered in this course are as follows:
- What is “Marketing” really about?
- What are some of the Marketing related causes of business failure?
- Is there a market for my product?
- Is that market big enough to make the venture viable?
- What influences the buying behaviour for this type of product?
- How can I estimate the market for my product?
Who Should Take This Course
Marketing for Entrepreneurs is for individuals who are at various stages of the development of a business idea or work with individuals in the process of developing a business idea. These include:
- Anyone in the process of starting a new venture
- Anyone thinking about starting a new venture
- Anyone who has to write a business plan
- Entrepreneurial support staff/trainers whose forte is not Marketing
After completing this course, participants will be able to use identify the market for their product and estimate the basic demand for it as the basis for making financial projections for the venture.
DURATION: 6 weeks (flexible)
DELIVERY: Online + Asynchronous (=log in any time)
CERTIFICATION: Certificate of Completion
COURSE PROVIDER: CCME (Caribbean Centre for Marketing Excellence).
FACILITATOR: Dr. A. Tull & Guests
COST: US $55 per person
PREMIUM: 1 hour of free consulting for your venture (first 5 registrants)
QUERIES : 246-228-1919 | 246-846-3191 (WhatsApp)
ONLINE REGISTRATION: Click here