Business Promotion Strategies for Small Enterprises

Abstract

Liberalization, privatization, and globalization have brought many challenges and opportunities for business firms. Global competition, technological advancements and varying needs of consumers are continuously changing the competitive paradigms. This makes all enterprises to understand the complexities and essentials of markets and to improve and sustain competitiveness. Response to such complexities and opportunities can be met by formulating appropriate strategies. It is possible that such environment may affect enterprises of different size and different sectors and regions differently. The study of marketing in SMEs has been recognized as a problematic area for researchers for over 20 years (Chaston and Mangles, 2002; Siu and Kirby, 1998). Small and medium firms cannot do conventional marketing as large organizations do because of the special characteristics of small firms. Hence the paper is an attempt to study and to suggest various innovative marketing strategies that may suit the small firms to market their goods.