Contemporary Issues In Entrepreneurship And Innovation For Marketing Communication

Identification of the Experience

Discuss about the Contemporary Issues in Entrepreneurship and Innovation for Marketing Communication.

The entire paper has revolved around my personal experience regarding the marble game event. When I got the initial piece of marble, I started thinking about the way of adding value on this. After that, I found the piece of marble can be used mainly as a paperweight. In a parallel way, as I am not used to this kind of convincing skills, I need to prepare the points to be presented at the time of exchange with the other person. After that, I approached my sister to take the marble in return of her colour pencils. She refused my offer because she did not find similar or more value of the single plain marble compared to her colour pencil (Alexiadis, 2011). Then I went to my boyfriend and convinced him with some tricks to make an exchange of the single marble with his eight pattern marbles. He agreed, and the first exchange took place.

Again I went to my sister with those eight unique pattern marbles and approached her to give me her colour pencils in exchange of those marbles. She agreed to my proposal, and I finally got her colour pencils. Therefore, I made another plan for trading those colour pencil with one of my friends who is a designer. As a designer, he always needs colour pencils for the purpose of drawing his designs. So, I went to him and asked him to exchange my colour pencils with something that he wanted to give me. In between, he offered me back with his pen. But I did not find more or similar value in that exchange.

 I rejected his offer and asked him for something else which was more valuable. Then he offered me a new pack of cigarette in exchange of those pencils. I agreed and gave him those pencils on Saturday night. After that, I went to my promoter friend and found that she was in need of the cigarette. As she asked me for the pack of cigarette at that time, I made an offer to her to exchange the new pack of cigarette with something which she could offer me. I got surprised because she was willing to trade a music festival ticket in exchange for the pack of cigarette. I quickly answered her positively and confirmed the deal.

After those trades had happened I did not have off-line options left with me. The next day was the day before the event. So, I decided to sell the music festival ticket on FB page because at that time many people were looking for tickets for that particular music festival. Therefore, I offered the ticket online and immediately some random person texted me to exchange the ticket with his used gaming keyboard which was in perfect condition at that time (Eisend, 2006). I accepted his offer and gave the ticket to him in exchange of his gaming keyboard to complete my final trade. These trading activities taught me a lot of entrepreneurial as well as personal selling aspects. 

Analysing the Relevance of the Experience

Out of these whole experiences, I have gained a lot of knowledge regarding trading, selling and entrepreneurial premises. In my view point, I think the deal happened because of need, want and demand of human beings. As a human being each and every person has a need for something. Moreover, if the individual gets that particular thing, the person will be satisfied by utilising that thing according to their personal requirement (Abouzeedan, Hedner and Klofsten, 2010). I can relate the experience with the materials of marketing and entrepreneurial subjects. Because the whole experience of creating and identifying the value of some elements and on the other hand satisfying own as well as others needs are mainly related to the core concepts of marketing, selling and entrepreneurship.

In our class, we learnt the personal selling techniques including identification of the need of a person and satisfying the need for some relevant category of product or service. Also, I have learnt some subject matters of entrepreneurship. The whole description of the trading experiences supports all the subject matters we have learnt in our class. At the time when I was dealing with the trades one after another, I found some difficulties from the initial stage. After, my sister rejected my offer I understood one thing that with one common piece of marble no one would be ready for engaging in trading with me.

Then I decided to apply some emotional tactics on my boyfriend because he was the one who was not that much concerned with the value of the marbles rather than my demands (Stidsen and Schutte, 2012). On the other hand when my designer friend offered me his pen in exchange of the colour pencils, another issue arouse. However, I analysed that his pen was not that much valuable that I could take those in exchange of the colour pencils.  So, I refused his offer. With these experiences of contemporary issues related to trading, I understood that every difficult situation regarding business activities needed to be solved with utmost patience and proper calculations.

The word ‘trade’ means an opportunity of getting engaged in some voluntary ‘exchange’ from which all the concerned parties will be benefited (Finne and Grönroos, 2009). Obviously, in the case of an individual exchange, the trade will not take place unless the two sides get some benefits. With the benefit they got from the trade, they will be able to satisfy some of their particular needs (Rich, 2012). All the trading experiences were not similar. At first, the initial offer was rejected by my sister as she was not satisfied with the ordinary piece of marble. Besides, in the third time of trading, I refused my designer friend’s offer as I did not find more value in that pen that he wanted to give me in exchange of the colour pencils. But when he offered me a new pack of cigarette, at that moment I analysed the value of that pack of cigarette was more than the colour pencil, and then I accepted his offer.   

Application of the Learning

At present my analytical skills, convincing abilities and practical knowledge regarding selling and other related aspects have been enhanced after these trading experiences (Gundlach, Block and Wilkie, 2007). Now I am thinking of doing some another type of trade games with some other category of goods. After I start thinking differently about this topic, I have made a plan. In my new plan, I am going to do some trading which involves monetary exchange instead of goods exchange. For instance, if I buy something from anyone, I will pay the monetary value of that product to that person after a proper bargaining. Also if I sell any product to someone, I will collect the value of that product in monetary terms (Finne and Grönroos, 2017). I will be able to gain new experiences with this new type of trading and transactions. At present, I need to explore new skills, abilities and knowledge regarding consumer behaviour. In future, if I will become a marketing person or an entrepreneur in my professional career, for that purpose I must have to acquire the core concepts of marketing, selling, financing and entrepreneurship. After completion of my study, I have a thought of doing a marketing job initially with the knowledge and skills (Mortara et al., 2010). Momentarily, such influential trading strategies have enhanced my personal confidence as well.

Through the experience, I have learned and explored a lot of my abilities and knowledge of this particular premise. The identified course helps me to identify my strengths, weaknesses and also my future opportunities and scopes of a professional career. In my major field of study, marketing and entrepreneurship are the central focus. With this trading experience, my analytical and convincing skills have been increased a lot. I have noticed the behavioural pattern and found some innovative ways of satisfying the needs of those people who have been engaged in those trading (Zambaldi, Da Costa and Canniatti Ponchio, 2014). Before having the trading and learning experience, I used to think that trading means just a transaction that would take place when something can be exchanged with some other thing. Both of the things must have almost similar value in comparison to each other (McLarty, 2013). But after going through with this experience, I came to know the essential aspects of trading which helped me in enhancing my subject knowledge and skills in this regard.  The experiences have encouraged me to test my skills and abilities to become a successful marketing professional as well.

As I have mentioned earlier that I want to add some new elements  in this trading , I am trying to understanding the basic and core concepts of selling, marketing. Also, I will have to enrich my convincing power for achieving success in this field with a designated position in future (Mackert and Harrison, 2009). The particular learning experience helps me a lot to identify and overcome my weaknesses. Also, it helps me in understanding my strong points or my strengths and the future opportunities along with the best scopes for getting success in my professional career.  Now, I understand properly why marketing and entrepreneurship are said to be an innovative and creative work to encourage a person creating new ideas and develop new techniques for further implementation and success. 

References

Abouzeedan, A., Hedner, T. and Klofsten, M. (2010). Innovation and entrepreneurship – new themes for new times. Annals of Innovation & Entrepreneurship, 1(1).

Alexiadis, S. (2011). Does technological heterogeneity promote regional convergence? Implications for regional policy and entrepreneurship. Annals of Innovation & Entrepreneurship, 2(1).

Eisend, M. (2006). Source Credibility in Marketing Communication. Marketing ZFP, 28(JRM 1), pp.43-62.

Finne, Å. and Grönroos, C. (2009). Rethinking marketing communication: From integrated marketing communication to relationship communication. Journal of Marketing Communications, 15(2-3), pp.179-195.

Finne, Å. and Grönroos, C. (2017). Communication-in-use: customer-integrated marketing communication. European Journal of Marketing, 51(3), pp.445-463.

Gundlach, G., Block, L. and Wilkie, W. (2007). Explorations of marketing in society. 1st ed. Mason, Ohio: Thomson.

Mackert, M. and Harrison, T. (2009). Marketing medical implants: new challenges and concerns. Journal of Consumer Marketing, 26(1), pp.4-5.

McLarty, R. (2013). Graduate entrepreneurship: a critical review of problems, issues and personal competencies. International Journal of Entrepreneurship and Innovation Management, 3(5/6), p.621.

Mortara, L., Slacik, I., Napp, J. and Minshall, T. (2010). Implementing open innovation: cultural issues. International Journal of Entrepreneurship and Innovation Management, 11(4), p.369.

Rich, M. (2012). Business marketing in the decade ahead. 1st ed. Bradford, England: Emerald Group Pub.

Stidsen, B. and Schutte, T. (2012). Marketing as a Communication System: The Marketing Concept Revisited. Journal of Marketing, 36(4), p.22.

Zambaldi, F., Da Costa, F. and Canniatti Ponchio, M. (2014). Measurement in Marketing: Current Scenario, Recommendations and Challenges. Revista Brasileira de Marketing, 13(02), pp.1-27.