Reflective log of report Outline Example | Topics and Well Written Essays - 1000 words

Reflective log of report - Outline Example udgment is essential for making entrepreneurial marketing decisions, specifically for marketing decisions that impact customer dimensions, opportunity analysis, levels of provided services, and product ranges. In relation to the report, this competency helps in the identification of market opportunities for the Audi E1, as well as the ability to assess opportunities with scarce resources. In addition, judgment competency helps the entrepreneur to weigh the market opportunity for the Audi E1 against other alternatives that could emerge. Judgment in making this decision for entrepreneurs is usually based on experience, intuition, and hunch, which means that the entrepreneur must show high product knowledge levels (Uslay & Ndubisi, 2014: p16). Another competency required for entrepreneurial marketers in the decision-making stage is the experience competency, which is linked to the previous judgment competency. This competency is important in relation to specific business fields, for instance knowledge of who major players in the electric vehicle industry. Moreover, another important aspect of this competency can be seen in the level of confidence that an entrepreneur’s experience wealth will allow them to make predictions on whether customers of electric cars might react unfavourably or favourably in specific circumstances (Bjerke & Hultman, 2012: p24). This vital competence and how it is expressed is refreshing in this case because it is indicative of the entrepreneur ability to utilize, enrich, and enhance their experience via proactive marketing. Therefore, this competency is dynamic in that it can be enriched and refined constantly with every marketing experience. As a result, previous entrepreneurship marketin g experience came into play during the present activity, increasing the entrepreneur’s competency to deal with increasing numbers of marketing decisions. When the workload is heavy, for example, the competency of experience enables accurate