Answered: "Acquiring, enhancing, and retaining…

"Acquiring, enhancing, and retaining profitable relationships with customers is key to any business growth." What method can help the organization in achieving this. Explain in brief?

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter2: Planning, Implementing, And Evaluating Marketing Strategies

Section: Chapter Questions

Problem 2DYMP

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Venture Development Process

To create a startup company around a licensed university technology is referred to as venture development. A venture development firm can assist entrepreneurs in identifying and developing a prospective commercialization strategy, be an incubator, test target market assumptions, recruit university and non-university innovative resources and talented team members, and obtain early-stage finance. Commercialization grants, internal and external small business owners, governmental and local finance systems, and private funds are all possible sources of funding. This activity, when combined with strong intellectual property resources, accelerates early commercialization efforts and better prepares university-affiliated business owners for other types of funding.

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