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Chapter 4. Identifying and Satisfying Re... > Understanding the Marketing and Sell...

Understanding the Marketing and Selling Processes

To be successful at technology entrepreneurship, you also have to understand how to market and sell new products and services. This knowledge requires you to master two very important concepts: understanding the process of personal selling and understanding the pricing of new products and services.

The Importance of Personal Selling

Much as people like to say, “A good product sells itself,” most new products do not sell themselves. Therefore, you have to know how to sell to others if you want to be a successful technology entrepreneur. This is harder said than done because effective personal selling is a skill that is in short supply. Most entrepreneurs come from established firms that can rely on an existing brand name or an advertising system to generate customer interest in its products and services. As a result, when people start new technology companies, they often focus on advertising, distribution, and other aspects of marketing, without realizing that those activities are not the key to making sales when a new venture is first established. In the beginning, successful marketing consists largely of efforts by entrepreneurs to sell their new products or service to potential customers directly.


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