From the perspective of entrepreneurial marketing, key issues are
* Entrepreneurial alertness
** A general acknowledgement of the importance of fulfilling customer needs
** Heightened awareness of the market and the needs of potential customers are essential for discovering business opportunities.
* Prior knowledge and personality traits
** Perception of possibilities available within societal surroundings
** A sense of what is “right”, “justice”, and “need fulfillment”.
** Three major types of prior knowledge are instrumental in opportunity recognition:
*** prior knowledge of markets
*** prior knowledge of ways to serve markets
***  prior knowledge of customer problems
* Techniques assisting in opportunity identification.
** Opportunities are mostly discovered by recognition (and not through planned search activities)
** Closely analyzing products’ design components and improving their overall attractiveness with the help of an “attribute matrix”
** Re-differentiating existing products (e.g., through consumption chain analysis) 
** Re-segmenting an existing market (e.g., through behavioral segmentation)
** Reconfigure existing markets, e.g., by improving existing business models or creating new ones
** By focusing on customer groups that are currently not served.

The underlying issues are not well understood:
* A more comprehensive study is needed that examines the process of opportunity identification and evaluation in new ventures from a marketing perspective
* It would be helpful to understand which types of prior market knowledge support opportunity identification
** andhow networks with customers can be used to identify promising new products
* The role of cognitive biases and heuristics in this process should be examined
** Biases prevent decision-makers from correctly processing information.
** Entrepreneurs might tend to ignore market information that has negative implications for their venture project

Part of [[M6-S1 - Reading - Gruber, M. 2004. Marketing in new ventures: theory & empirical evidence]]
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marketing_public
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Fri, 04 Jun 2010 11:18:42 GMT
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dirkjan
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Fri, 04 Jun 2010 11:18:42 GMT
modifier
dirkjan
creator
dirkjan