Entrepreneurial Marketing - SME's
Added on 2021-02-20
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EntrepreneurialMarketing
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Word of mouth is better or not for SME's...................................................................................1SME's better to adapt customers..................................................................................................3CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................6
INTRODUCTIONInnovative marketing can be defined as the set of different types of new and innovativeprocesses which are used by business entities in order to spread awareness of regarding theirproducts and services. With the help of it organisations can attain their business objectives suchas customer satisfaction, profit maximisation and increasing market share. In current era, it hasbecome essential for all the companies to use new and innovative techniques for the purpose ofmarketing so that large number of prospect customers can be attracted and existing could beretained (Fillis, Lehman and Miles, 2017). Continuous innovation is required for all theenterprises as it help them to meet expectation of their target market. If organisations are notfollowing the concept of it then it will become difficult for them to reach their market segmentand sales all their products to the patronages. Now a days various mediums are being used bycompanies for the purpose of marketing. These are internet, social media etc. which helps tospread awareness regarding all the items that are sold for the purpose of generating revenues.Social media marketing helps to reach maximum number of people all around the world which isbeneficial for organisations to accomplish their vision and objectives. The enterprise which isselected for this report is May Fair Kitchen which is mainly established in United Kingdom.This assignment covers various topics such as word of mouth is better for organisations or notfor small and medium sized companies. Along with this, discussion regarding adaption ofinnovative marketing to customers is also covered under this project. At the end of the report, aconclusion regarding innovative marketing and its adaption is also provided.MAIN BODYWord of mouth is better or not for SME'sWord of mouth can be defined as a tool which is very beneficial for the business entitiesas it helps to spread awareness regarding products and services that are sold top the clients forthe purpose of generating revenues. When an organisation sales good quality products to itscustomers then they refer them to their colleagues, friends and family. With the help of this typeof marketing attract end number of consumers who helps to increase profits. In other words itcan be defined as the recommendation which is provided by satisfied customers to others orally.It is considered as the most effective tool that is used to promote all the items sold byorganisations. For restaurants such as May Fair Kitchen word of mouth is very beneficial as it1
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