Entrepreneurial Marketing Group Presentation

Added on - 21 Feb 2021

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INTRODUCTIONSmall and medium business enterprise is generally start up by entrepreneur to meetcustomer needs and wants. Such ventures comes up with innovative product and fills the presentgap of products available and customer demands. They contribute towards economy and increaseliving standards of individuals by providing innovative product. In this assignmententrepreneurial marketing methods and techniques used in Small Medium Enterprises will beexamined. There will be critical discussion about relevancy of entrepreneurial theories and smalland medium ventures regarding marketing practice(Miles and et. al., 2015).MAIN BODYAnalysis of best practice methods and techniques for marketing in small and medium enterprisesSmall and medium businesses are wholly owned by entrepreneur and comes up withinnovative product or services to fill the present gap present in market. Marketing environmentof SMEs businesses have different features and techniques used are different from other types ofventures.Marketing environment of small and medium businesses are different from those of largecompanies. Market segment of such SMEs is relatively smaller and there are small group ofcustomers that need to be targeted. Competition in such environment is less as such organisationintroduced innovative product or services which are developed by analysing marketingcondition. Budgets of small and medium ventures is less for marketing thus they resort to cheapand effective method for promoting their products and services(Whalen and et. al., 2016). Thereis no frequent changes or addition to the range of product small and medium businesses offersthat makes their marketing strategies stable and effective to target that segment of customersonly.Flyer is one of most cheapest method of advertising which uses E-mail to promoteproduct. It is brief in nature, highlighting offers, contact information, discounts and relatedcontent so that it has powerful impacts on customers. This covers extensive market segmentswhich is helpful for small and medium ventures. Posters is another cheap methods in whichboards of super markets, Public places and malls are used to inform audience about the product1
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