SME business marketing case study

In most cases, consumers always form a larger percentage and hence that is where your marketing should be concentrated. Through your proposed marketing strategy, you have a great potential to double or exceed turnover of your business from the current 400,000 pounds. The need to sell directly to the consumer is justified because the business is small and it is difficult to serve independent retailers effectively. Retailers require huge discounts and given their small number compared to that of the consumers. However, enlarging your website is not enough or the best way of reaching the public given the current technological advancement in the current century. You will also find it difficult to maintain your pricing strategy. You will be torn between maintaining a pricing strategy or adopting an aggressive pricing strategy (Tsay & Agrawal, 2004, p.

94) in order to stay competitive. Resources Required Your strategy will indeed require resources to actualize it. Finance is one great resource that will be required to actualize your strategy. Marketing Theories and Concepts involved One essential marketing concept that you need to understand to make your strategy effective and boost your business is the “Marketing Mix. ” Understanding this concept will help you to organize your strategy around the desires, habits, and strategies of your target market. You will have to pay attention to the “4 Ps” which include; product, price, promotion, and placement. Unique design and features of your products are what will enable you to beat your competitors. Promoting your product will be vital to make consumers aware of your products and your presence in the market.

Regarding sales representatives as a distribution channel, they increase your chances of being in control of commercialization policy. However, through their intermediation, your business incurs costs that could have added to the revenue. This alternative is also disadvantageous because it is difficult to find suitable representatives. It also makes the product prices to be higher for the end consumer than if representatives did not exist Furthermore, it is still possible to employ extra workforce who can still take on the role of sales and marketing. On the other hand, your proposed strategy better than the alternative strategy because the costs you will incur fewer costs than you would have incurred when you adopted the alternative strategy. References Gordon , R. Re-thinking and re-tooling the social marketing mix.