A Study on the Marketing Management Strategies of Venture Companies

Venture companies succeed in the market, they face many unexpected risks, including entry barriers and substantial costs. The success or failure of these advanced products isdetermined not by technical factors but by market factors or marketing. Funds, marketing channels, etc. can be a huge barrier that cannot be overcome by venture companies that venture into business only with technology. This has technical skills, but it is necessary to develop marketing strategies more thoroughly than regular companieswhentheylackmarketingskills. Therefore, the purpose of this study is to examine the marketing strategies of Korean venture companies and to find effective marketing strategies necessary to succeed in the future. Specifically, first, we would like to consider the definition and characteristics of venture businesses, the scope of Korean venture firms, and the characteristics of each type of venture. In this part, we would like to examine in detail the characteristics of venture businesses, such as the characteristics of start-ups of venture companies and the characteristics of organizations and the economic meaning of venture companies. Second, we would like to analyze the classification of venture firms by the growth phase. Next,wewouldliketolookatmarketingstrategiesbytheproductlifecycleofventurecompanies.And in order to establish an efficient marketing strategy, venture companies want to learn about the introductionperiod,growthperiod,mid-tolate-stageperiod,andmaturityperiod.Fourth,theimplications arederivedaccordingtotheresultsofthestudy. To sum up the research results, first, it has been found that venture companies focus on marketing strategies for advertising promotion that convey the excellence of the new product technology itself. Second, it has been found that ordinary consumers need to persuade how new products meet and are effective to customers' needs from the beginning of the growth period when the consumption of new productsbyventure companiesgraduallyexpands.It focusesonstrategiestoexpandthe market. Third, it has been found that it is necessary to implement a strategy that focuses on product leadership and lowersproductpricesasadifferentiatingstrategyforproductsandservices.Fourth,inmaturationwhen the market shareofcompetingthird-partycompaniesisfixedandthesupplybecomesmore competitive beyond demand, the company implements a differentiated strategy for services and products that incorporate additional characteristics, not by improving the basic performance of products or services of venturecompanies.