Marketing in Sme's

In: Business and Management

Submitted By Acve
Words 791
Pages 4
1. INTRODUCTION
Marketing in SME is essential because it contributes to the success of the business as in whole. Although some SME’s might not have a marketing department because of the size of the business, but they still need to practice some of the marketing practices and implement them.
There are many journal articles which have been published which are based on marketing in SME’s. Below we have cautiously analysed a few of these journals.
2. REVIEW OF LITERATURE
There is no combined study or complete concept of the interrelation among marketing and SME’s yet. Research findings are still very uneven. However, observed evidence suggests that there exists a relationship between an enterprise's marketing and SME’s orientations (Miles and Arnold, 1991). Mainly two different streams of research that deal with the joint of marketing and entrepreneurship can be identified. The first studies that examined failure and success amounts of new products or new ventures, and the second studies that stress the fact that entrepreneurial orientation and performance are positively linked.

An investigation of twenty of British enterprises, Lancaster and Waddelow (1998) found out that most SME’s mostly rely on financial statements, which are thought to account for the market share and competitive advantage to show marketing success than on proper marketing planning. Only three of SME’s surveyed had a formal marketing plan, two had been formed by outside consultant and the third by requirement for 'head office'. Official marketing plans are viewed as being useful in that way that they help finding competitive advantages and securing resources, increase commitment by communication with members, and putting objectives and strategies.
“Marketing use in the SME”. The main purpose for the author to write that article was to help structure data usable within the marketing context…...

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