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An effective marketing strategy is what SMEs need to succeed
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Bikky Khosla | 07 Oct, 2008
Small and medium enterprises (SMEs) cannot do conventional marketing because of the limitations of resources. SMEs need to think beyond conventional marketing practices of large companies. They need to search for alternative marketing approaches such as personal contact networks, social networks, e-commerce tools, B2B portals, business networks and industry and marketing networks.
In many cases companies have failed to get buyers or even enough inquiries because they had never developed the Unique Selling Point (USP) of their products. I have met entrepreneurs who are not sure about how their products were different from those already in the market. Since they were unaware of this vital aspect, they were unable to understand the needs of their target audience...this is a vicious circle.
Most SMEs don't market themselves enough because they think they can't afford it. They give up easily if a particular marketing activity doesn't immediately set the cash registers ringing. To expect a marketing activity - be it a premium membership with a B2B portal or a conventional advertisement in a newspaper - to give business from Day 1 is being a little bit unrealistic.
What surprised me most was the fact that companies in this sector have difficulty in explaining clearly the products and services they are selling and are also inconsistent in their communications. I know of SMEs who jump from one marketing strategy to another for no valid reasons. This confuses the prospective buyer and also creates a low opinion of the company and its product line.
I still feel that SMEs that are always operating on a low budget can do away with these shortcomings and showcase their products effectively alongside the biggies, if they use the Internet as the medium to market their products.
I have noticed that several enterprises have this notion that one has to be a big company to enter the online arena to market one's products. However, on the Internet a big company will have the same chances as an SME to make an impact on the buyer. With the correct techniques any SME can make it to the top leaving behind even the biggest of companies.
However, most of the SMEs are yet to wake up to the fact that online marketing can and is the only cost-effective, measurable and targeted advertising channel. At a time when the major markets are shrinking considerably, I strongly believe that each and every SME should have a marketing strategy to not only showcase its products, but also to easily get inquiries from other markets.
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Identification and analysis of marketing strategies
Cleophas George Gaweseb | Sun Feb 13 11:23:42 2011
I'm a UNISA MCom student trying to compile a research proposal please assist where you legally can with sources and guidance. The whole of 2010, I tried to get my research proposal approved without any success. My research topic is: Identification and analysis of marketing strategies applied by Namibian small and medium enterprises and the relationship of marketing strategies to business success in the context of Namibian small and medium enterprises
strategic markrting
azharpaikkadan | Fri Oct 15 06:05:06 2010
Marketing Strategy is something that helps companies achieves Marketing objectives. Marketing objectives help achieve corporate objectives and corporate objectives aim to achive
a competitive advantage over rival organizations
An effective marketing strategy is what SMEs need to succeed
Gopinath | Mon Oct 13 11:41:34 2008
Dear Khoslaji,
You are dead right in your summary on the mis-concepts most SMEs have. There is a plethora of agencies who offer help in B2B and internet marketing. The problem is to sift the chaff from the grain. We had a bitter experience with one Dutch agency. Despite our repeated requests to correct data related to our activities, they persisted with a website which mis-represented our activity. We were getting enquiries for products and services not relevant to our profile. We had to wait until our contract ran out to get out of the mess which we were put in. we wish to share this with you. There should be some agency which can certify the competence of organisations/ individuals who claim to be experts in B2B marketing, web site designing and such activities.
EFFECTIVE MARKETING SME's
DTS | Sun Oct 12 19:23:34 2008
We are in gulf dealing in cotton garments mainly sourcing from India. We regret to mention that SME's or middle men or the manufacturers, despite providing them with full actual samples of the products FREE OF COST, fail to give results as required. They have a tendency to export what they want without even having any ethics on the sustainance of quality, timing or presentation of the products. They learn only when importer chokes them up in terms of non payment due to inferior stuff or late timings. I was a person to get the stuff manufactured by paying advance. But now I promise, NO MORE ADVANCES OR SYMPATHIES TOWARDS ANYBODY APPROACHING us with their merchandise. They relly cheat us in all aspects. And try to extract out amount by pressurising us in many ways. for ex: lock up the person physically once he is available at some location. even I have faced and experienced that in my recent past.
SO NOW ONWARDS BETTER TO KEEP AWAY FROM THESE CHEATS. ENOUGH IS ENOUGH. WE SPEND OUR FORTUNES TO SUPPORT THEM, BUT WHAT WE GET IN RETURN IS ILL REPUTATION, PHYSICAL AND MENTAL TORTURES, AND ULTIMATELY LOSS OF REVENUE DUE TO INFERIOR PRODUCTS. Despite lots of instances, people still do not learn the value of honesty. And THAT IS THE PITY WITH INDIAN EXPORTERS. Despite having all the resources, they want to make fast buck on cost of somebody else.
UPS.
ANIL | Sat Oct 11 07:40:26 2008
SIR,
we talk of ups. but most sem make mass
consumption items.say plastic house hold, steel items, for some wholselller or company.what can be ups. like in platic carrier bag or paper cup their can not be ups. when you sell wheat you can have ups . you can say this from punjab that is too all in punjb. to say what is my UPS YOU NEED ADVERTISEMENT.
USP feature of the product & ongoing development
Anamika | Sat Oct 11 04:29:27 2008
we are a a year old small company now but for sure will grow up in future'Sona Swiss'-24k gold leaf products made in taiwan.we would like to add up pointer as per my experience
1. Product USP & products continuous development
2. setting up realistic goal. It takes atleast 2 years for a business to set up completely & only after that can one expect return on investment not before that.
4. Having constant cost controlled eg. office rentals/ staff
5. we hire part time college students for marketing purpose my choice of young part-time staff was because they are ready to work in a salary range of Rs. 5000 or below all depends on the time put in. usually for marketing purpose our business concerned market/retails shops the owner usually available between 1 to 4 pm. this suits the college trainee who are free from college after 12.30 pm. we have 1 main person as full time & 4 helper staff & can have 3 part time marketing staff
6. Internet marketing is an important tool one should use it often.
7. Rather than advertisement we concentrate on PR activities & have developed a good relation with media.
8. Flat hierarchy we dont position our self as directors/manager/executive. this has helped alot in company staff attitude
9. Trade exhibitions are an important lead to develop market.
10 office comfortable ambiance & keeping everyone involved & sharing information regarding company & product. you will be amazed staff works as a team toward company goal.
Effective marketing strategy for SMEs
V K Mathur, M.Sc., MBA, APP, CPM | Wed Oct 8 15:05:11 2008
The nature of marketing is constantly changing.You're right in saying that strategies need to be developed.In most of the cases it is the lack of awareness of a firm in all the locations is what appears to be the prime reason for inhibiting development of an effective strategy. The SMEs in India seem to be seriously lacking in professional management practice.Even today ,the SMEs exhibit the much familiar, family business characterstics.Buisness batons pass through the family generations only. Anyway, while it may have deep emotional dimensions too there is no valid reason for continuing with the age old "hunch" decision making and use of no modern tools.
For example, SMEs are not aware of Supply Chain Management !! They have no concept of things like JIT, Kanban or even Logistics. First,there must be some programs on making them aware of modern business tools (http://www.supplychainmanagement.in)
SMEs can be greatly benefit if only they recognise the power of Internet for exploring and managing the market,online.
Most of the Chinese SMEs have recognised the power of B2B portals. They are developing their websites even in English language for spreading their reach beyond China.Our SMEs must learn from their experience.
However, such bodies as CII, Trade India can take up awareness programs for them, in a systematic way and monitor the change.
My site http://www.supplychainmanagement.in can be used as a FREE knowledge guide on Supply Chain Management,for their benefit
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Re: Effective marketing strategy for SMEs
ANIL | Sat Oct 11 07:27:54 2008
sir, we are talking about just in time or supply management system.
we are paper cup manufacture.paper comes from ITC profesnally mange company. but not we every body has to keep stock of 2 months paper because paper never come when you need. being SEM we are helpless. they are most powerful in resources and in man power still they can not mange supply chain at their end no doubt they want their supplier to be just on time. so all this need to enforce first by big company with their customer.who depend on them. every body want SEM to supply them just in time and large company to remain out of this system. CII should come and help SEM by putting some pressure on big company to follow the principal of just in time . this will help sem to better result .no lot of space no more money in stock no tenstion , low cost better margine more profiatable SEM.
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Effectuve Marketing for SMEs.
Manjit Singh | Wed Oct 8 04:47:13 2008
The measures stated by you for effective marketing of SMEs products are to the point. But the main issue is WHO WILL DO THAT. Our Govt. is not responsive, the independent Trade Organisations viz. CII, FICCI, FIEO, Chambers of Commerce etc. are not geared to organise such steps. Thus the plight of SMEs continues. You would do the country a BIG FAVOUR if Trade India can get this done whether by Govt. or the Trade Organisations. Are you ready for this CHALLENGE ?
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Re: Effectuve Marketing for SMEs.
ESTES | Wed Oct 8 09:28:50 2008
SIR
I am in the furniture manufacturing industry, i would like to concentrate on export market. suggest how to market my product in internet to reach the right target.
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Re: Re: Effectuve Marketing for SMEs.
V K Mathur | Wed Oct 8 15:11:57 2008
There is no surest way of creating market. Use of Internet is however the most powerful way of reaching out to potential customers, worldwide.
While you may have to check other portals , you can use my site http://www.supplychainmanagement.in for at least developing the concept of Supply Chain Management which in my opinion is quite essentila for doing any business today, more so when you think of going international.
The site is FREE http://www.supplychainmanagement.in
Anybody, anywhere and anytime can use it to learn the SCM concepts which I repeat is a must for any manufacturing business today.
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Re: Re: Effectuve Marketing for SMEs.
Nitin Agarwal | Thu Oct 16 10:43:43 2008
Hi,
Please share with me your website link so that I can suggest you the best way to target your customers.
nitinagarwal812000@gmail.com
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Re: Effectuve Marketing for SMEs.
John Clemens | Wed Oct 8 12:13:06 2008
For SME marketing assistance for businesses of excellence please see these teo sites
www.entrepreneurial-spirit.og
and
www.businesstelevisionnetwork.com
They helped me.
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Re: Re: Effectuve Marketing for SMEs.
V K | Wed Oct 8 15:12:53 2008
One can also check it for at least learning the key concepts:
http://www.supplychainmangement.in
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