Prof. Beverly Williams
11 August 2012
Small-Business Marketing Strategy
Marketing Strategy in a Small Business
A small business is one that mainly has an independent ownership and operation. Its operation is organized for profit and has no dominant field. The number of employees in a small business depends on industry or rather its operation and standards size of its eligibility. A small business can have all levels of operations just as a large scale firm can hold (Stanberry, 2009). The only difference between the two is the number of employees, the annual receipts and the construction. For instance, the number of employees in a small business manufacture or wholesaler ranges from 500 to 1500 depending on the product being manufactured or provided. A small business may also not exceed annual receipts of $ 2.5 to $ 21.5 million from its services depending on the service at hand (Pinson, 2006). Under construction, a small business mainly ranges from $13.5 to $17 million in general construction and annual receipts depending with the type of construction. Therefore, the role of a small business enterprise is the same as that of a large scale. In many cases, the large businesses and firms have their originality from the small business. When an individual develops a thought of investing, he mainly starts with a small business where he remains as a sole proprietor. As his business grows, he adds more constructions and call for additional employees. The annual receipts and output continue to increase. Eventually a small business becomes a large scale with high output and receipts. A small business develops into a large business by acquiring more customers. This is enhanced by effective marketing strategies. Therefore, a small business needs to aim at satisfying its customers to maintain and increase the customer flow. It is necessary for an investor in a small business to focus on organic growth of his business for effective expansion. One can increase organic growth of a small business through various ways. Some of them include acquiring of more customers, persuading every customer to buy more products and persuading the customers on products that are more profitable or expensive. The success of these marketing strategies leads to increased revenue and profit (Antion, 2005). Among the above four strategies, the main one is the acquiring of more customers since it increases the business customer base meaning that the business will have a large base of revenues. In a small business, marketing strategies are the best ways of acquiring customers. An investor should spend adequate time researching and creating strategic plans. It is also necessary for an investor to guide his product development to reach out the customers that are unaware of his products. The prices for the products should be competitive to find a place in the market. As an effective investor, a small business enterpriser should develop message and materials on market solution (Stanberry, 2009). This increases his customer’s trustworthy and loyalty. It is essential for an investor in a small business to target the correct market niche. This increases the productivity and reduces the wastage of efforts and time. It is necessary to note that marketing strategies for a small business differs from that of a large business (Tate, 2010). A small business usually has a limited marketing budget. This implies that an investor has to be extra creative as he competes with other bigger businesses. For instance, he may opt to launch his marketing campaign or be diligent in his marketing skills by being accountable of contacting a large number of potential customers on a daily basis.
Useful Electronic Marketing resources
In today’s business socialization, a number of people use a blog to write their opinions on business aspects....