Entrepreneurial Marketing: SMEs in the Food Service Industry Report

This report assesses the role and marketing strategies of Small and Medium Enterprises (SMEs), particularly within the food service industry. SMEs are crucial for economic growth, offering flexibility and direct customer engagement. The report explores various entrepreneurial marketing methods such as email marketing, innovative marketing, social media marketing, cold calling, and referral marketing. These strategies help SMEs enhance communication, increase sales, and build a strong customer base. The analysis emphasizes that SMEs benefit from tailored marketing approaches to meet customer needs, foster job creation, and drive sustainable growth. The report concludes that a combination of traditional and innovative marketing techniques is essential for SMEs to thrive in the competitive food industry.

Specific Knowledge
Understanding
Application

Introduction
• The term small and medium enterprises are the enterprises
which play an essential role in the economy and for that
government provide them regular incentives, access to loan
and offers in order to expand in the market.
• It also employs number of employees with new innovations
and such enterprises are considered to be the important for
both emerging and developing economies (Cotei and Farhat,
2018).

Background of SMEs
• SMEs are important for the growth and development of the country as it allows to attain the sustainable
growth and the structure of the SMEs are flexible that is why they have better opportunities to change and
adapt such changes (Djellabi, et. al., 2021).
• SMEs deals with customers more directly and closely which allows them to fulfil the needs of the
customers by providing them individualized services.
• Being in the small or medium size industry, it is easier to coordinate and communicate with each other that
will directly bring new ideas and the resolve for the issues that can be solved by the team collectively.

Background of food service industry
• The above mentioned industry has a major impact on the economy and this sector is considered to
be the one of the largest sector of the industry. It provides the facility of meals and snacks for the
purpose of consumption.
• The food industry has many facets and under this the food is made by staff and cooks. The main
focus of such industries is to provide best quality food with proper standards of sanitisation at the
best cost. The food service industry comprises of various activities and services which includes
companies such as catering services, cafeterias, family restaurants, quick service restaurants, full
service restaurants from dining to fast food and many others.

Mouth to mouth marketing
• Earlier, mouth to mouth marketing was spread from on person to another while now a days,
company make use of mouth to mouth marketing for having high level of sales and wide reach in
audience (Jonibek, 2021).
• For that companies are making use of influencer marketing as the companies make use of reviews
by customer because now a days customers has social media accounts and most importantly they
pay attention to the reviews.

Methods of entrepreneurial marketing of the companies
• The term entrepreneurial marketing is defined as the
best marketing technique used by the company for the
purpose of marketing (Hopp and Greene, 2018).
• Many companies make use of such strategies and
techniques to have greater impact on the market.
These techniques help in planning every aspect of the
company that is from production, personal or finance.

Email Marketing
• Under this marketing , the companies customize their campaigns by making the targeted content by
sending email which comprises of the name of the person in the subject line.
• The e-mail marketing is helpful as it collects the feedback from the customers that also allows the
company to keep connected with the customers.
• As a company it is crucial to enhance the communication with the targeted audience and people
appreciate good emails.

Innovative marketing
• Under innovative marketing, innovative ideas are considered to communicate with the audience
about new products or services with the group of customers. As innovation involves implementing
new ideas that bring a major impact on the new product or service.
• Under this the company make use of market research in order to understand the behaviour and
need of the customers (Hopp and Greene, 2018).
• The main goal of the companies in using innovative marketing is that to increase the level of sales
and profitability in the market.

Social media marketing
• The social media marketing is said to be the most cost effective tool to have the attention of the
customers which allows to have large number of conversions.
• Social media allows the business to present itself by posting content and by posting status as it
personifies the brand.
• Nowadays, social media is the need of every product. Social media is defined as a network and
communication platform through which the company can reply to its customers.

Cold Calling
• The term cold calling which is defined as most cost
effective technique to elevate the sales of the company. It
can be a traditional technique but it is still used by many
companies and sectors (Dodds, Dimanche and Sadowski,
2018).
• For example insurance companies also use this technique to
sell their various policies for example health insurance, life
insurance and many others.

Referral Marketing
• It is defined as marketing technique through which
one can make use of various recommendations and
word of mouth in order to grow the business.
• This marketing is cost effective, trusted and one of
the powerful marketing. It is a tool which is used
by various companies to build the customer base.

Conclusion
• The report presents an assessment of Small and medium-sized enterprises and the report covers the
standard marketing theory and practises that can be used and seen in the small business enterprises.
From the above analysis, it can be said that SMEs deals with customers more directly and closely
which allows them to fulfil the needs of the customers by providing them individualized services.
SMEs present various advantages by being a source of growth in many countries and also, they are
responsible for bringing new job opportunities in the market.