Marketing plan and the strategies for small business enterprises

Marketing plan and the strategies for small business enterprises Small business enterprises (SBE) are normally started and owned by solely and is the way of entrepreneurs own marketing concept and is different other than business in global market. It is the widely spread and known business in western region of world, specifically in Europe and is contributing to worlds economy very efficiently. Though there is always lack of marketing specialists and the resources as well as skills, marketing approach are always based on sole decision makers as of entrepreneurs perceptions. It also cannot be separated from the marketing approach which includes relationship approach and is found that marketing is important as other functional areas of the small business organizations. The business is affected by marketing which includes, the location, pricing, sales techniques, advertising, promotional activities even the goal of the company. Marketing is all about the making its customers aware of the products or services, good value, good service and following up the customers are even more important which can be done better than the competitors. Introduction In general small businesses are run by the owner who owned the business privately. According to the Industry Canada, the business that has less than 500 employees is known as small medium enterprise. In addition, small business is defined as the business having less than 100 employees and if the business is based on service then the number of employees is even less than 50 and. According to SBEs industry published guidelines, for wholesaling the range of employees falls under 100 to 500 and for manufacturing, ranging from 500 to 1500. Thought the small businesses hold lesser number of employees and other resources, it holds the powerful position for the economic development. It is quite difficult to define the accurate definition for small business because of different varieties of firms, but finally according to the agreement, is defined differently in different parts of the world and according to the national needs. (Theng and Boon 1996). It plays the vital role as the contributors to the economic, development and the employment growth in the economy of Individual County as well as in the world economy. Mulhern (1995) concluded that, there is 99% of companies are small and medium sized in all over Europe whereas also generated 66% of employment. The idea of comparing the size of a business, to the size and power of a boat, provides an excellent analogy. A cruise ship may withstand storms and high waves much better than a small yacht, but it is not very manoeuvrable. A speedboat can go places a ship could never attempt. It is faster, agile, and can turn quickly to avoid danger. These comparisons are no surprise. Most people seem to realize these differences, but contemplating them well enough to seize their potential is what separates the weak from the strong. The small athlete, who could easily be crushed by bigger competitors, can still win by dodging them and outrunning them. For small business owners to adapt the same thinking as big business can easily bring disaster. You have the advantage if you think differently. Business models are changing fast, and a small agile company can adapt more quickly. There are big companies teetering on the edge of bankruptcy. Some of them are so steeped in outdated business practices that they cannot adapt quickly enough to avoid hitting the iceberg. Every product or the services is worthless unless there are any customers to buy them and are the key factors for making any business towards the success or the failure. Here exists the essence or the importance of marketing for generating the customers for the business whether it is done online or offline. Marketing is none other than creating the demands for the products or the services provided by the business from the potential customers and even more additional demands from the existing customers. (www.theinternetbusinesscoach.co.uk) In general, most of the small businesses spend less on marketing but key for whole process is to focus on the right customers whether by adding value to the products or services which is directly perceived by the customers mind creating the brand loyalty which will be discussed in next section of this report. Customer as a Key Factor The mantra The customer is the king, is popular since the 1940s. The customers are being key factors for the success of the business since early age of business development. In every or almost all business enterprises, the ultimate goal of those organizations is to fulfil the demands or their wants and needs through products or the services to the customers. CRM as the solution for Small Business Customer relationship management widely known as CRM, as mentioned by (Chang, Liao and Hsiao, 2005) it is really an observable fact when came out after the occurrence of Internet and the web technology in order to facilitate for the implementation of CRM. It mainly focuses on the interaction between the customers and the service providers through the Internet and the web based applications. Customer Relationship Management is a comprehensive strategy and process of acquiring, retaining and partnering with selective customers to create superior value for the company and the customer. (J. N. Sheth A. Parvatiyar, 2001). The most important aspect of CRM is the selection of the customers. As many of the researchers has shown in their studies that, all the customers are not always profitable for any individual company. Some customers might be profitable for any individual company but not for all. So company therefore adopt the selective programme and marketing efforts by segmenting and selecting the most fruitful or profitable customers as the individual marketing programme. So as the size of small business and the available resources, it is very important to focus on particular customers from the particular section of the market, widely known as the segment of the market. The owner of the small business spends less on marketing and the strategy so, determining the profitable customers become very essential for the small business. Needs of Marketing for SBE The marketing needs of small business are very different but simple. He further added, local markets are mainly targeted for business advertisement of small business. The most common methods for advertisement flyers, yellow pages are used in local market. As it is the back bone of European business and many of other countries. In todays world economy, small business is contributing the most. The lack of perfect business plan and market strategies is squeezing the possibilities for the success so the adopting the marketing plan and strategies will definitely help the small business to grow satisfying the ultimate customers need and wants. It allows looking forward to plan the changing environment and the trend of the existing market even changes of the competitors. It is for helping to identifying the strengths and weaknesses of own company, its products or the services as well as the reviewing the available resources and the skills and to explore them to get fit in the market and to fulfil the companys strategic goal. SWOT Analysis of SBE It is the well known tool for analysing the strategic position of the business and the environment. The purpose of this tool is basically to find the strategy which is ultimately creates the specific business model. There are four factors in SWOT analysis which are as follows: Strengths: it is the qualities of any business organization which enables the business to survive and to gain the competitive advantage. It can be either tangible or intangible. As the small business are small in size but also have the strength of low investment risk and low investment on the advertisement. Weakness: these are the factors which is the standard of business organizations. Low product range, poor decision making, insufficient research facilities. In terms of small business, it does not need the massive numbers of resources but whereas the product is concerned, the small business focuses on very few ranges of products as well as limited services. Opportunities: It is the opportunities which are present in the environment where the business organization operates. As the small businesses are the back bone of the country economy, arise in market, increasing demand are the opportunities of the small business. Threats: this is the condition where the environment is not in favour of the business. In general there are some threats for small business because of the existence of large business occupying the market of small business. Market Planning for SBEs Product or Services There are two types of strategic market planning. They are as follows: Long-term market planning Short-term market planning Long-term market planning: the long-term market planning is set as the name suggest for the long term goal of the company as a scheduled day-to-day business and marketing activities. This is ongoing process and the marketing activities whereas is the essential part for new business. Short-term market planning: it is the process of developing and setting the specific goals. This is adopted by the existing businesses in response to the unexpected in the business and if is new in the marketplace. On the other hand, it is basically adopted when there is decrement in market share, launching new product, increasing in customers complaint, and change in government regulations and if new market is identified for the product or the service. Depending upon the market or the business whether it is existing business or the new business the marketing plan can be chosen out of two which both focuses on the companys strength and the weakness of the competitors and to improve the market position while increasing the sales and the profitability of the company. Marketing strategies for SBE The customers needs and wants can be fulfilled when the situation are analysed which are the key factors for the business success. The factors involved in marketing strategies are as follows: Market segmentation Market targeting Market positioning Value proposition Generally segmenting the market means grouping the people of same behaviour or the buying pattern of the customers. Whereas segmentation is concerned with the small businesses, it is very important to find out the right customers from the right place. Though the market is very small, finding the profitable customers and their needs is essential for the small businesses. Segmenting the market can be of different types: according to geographic, demographic, psychographic and behavioural. According to geographic segmentation, it is based on the region, size or the density of the population. It is benefit for the small business to segment the market according to the geographic location because of the popularity of the products or the services where the business can occupy its own market. On the other hand, demographic segmentation, it is based on age, gender, income occupation, religion, family size, education and so on. This can be another benefit for small businesses because of limited resources it is easier for small business to launch the new products or for the promotion of new products or the services. Next is psychographic segmentation which deals with the life style of the customers, their social class, values, and opinions, their interests, attitudes. Small business focuses on the customers of similar class rather than the high class, so that the products or the services will fit with all the general class. Final strategy of market segmentation is behavioural segmentation and is based on the pattern of purchase behaviour and also based on usage rate. This segmentation is somehow affecting the small business. Where the small business is concerned, the combination of geographic segmentation and demographic segmentation are best suited for the small business as targeting on very specific customers is fruitful and less expensive for small business organizations. After deciding the segmentation strategy, the next step is to target the right market. According to Ferrel et al, 2008, there are five strategies for targeting the market. The first is single segment targeting. This strategy is normally selected by the small business because of concentrating on specific segment of the market. On the other hand, selective specialization select the multiple segment of the market and is widely, known as differentiated strategy. Product specialization is another which specially deals with the particular specific group of customers. Mass market targeting is the one which is specially adopted by the large businesses and target the mass markets. Finally market specialization which expertise in one market and provides the solutions to the customers problems. Importance of positioning for SBE Positioning is not only to position any product or services in any location or in the place rather it is about to attract the attentions of the products while matching the customers needs and wants. It is about the position in customers mind against the competing products. Kotler (1986). For positioning the product or the services, Robert et al (2006) purposed some approaches where attributes of the product, and deals with brand loyalty of the products by delivering the better value than the competitors. Brand name and the value for the product by positioning in customers mind is known as price or quality approach. Product user and the product class is another one which deals with the specific group of products whereas use of application approach deals with positioning according to the uses by the customers. Competitor is the last one and deals with as the name suggests positioning directly to the market by distinguishing to each other. For small business, use of application approach will be best suited because of the same behaviour of customer buying pattern. For example McDonald is most popular for fast food but in competition to street fish n chips shop in UK. Though the fist n chips shop can also provides all the services to the customers as McDonald can but the trend of customers is highly follow the others. Pricing Strategies of SBE It is most important to focus on pricing strategy as it is the major factors affecting the marketing mix. It is the important factors for the product features, choosing the channel distribution for the products or the services and determines the whole resources of the business. There are different types of pricing strategy for the product or the services. They are: premium pricing, skim pricing, penetration pricing and economy pricing. Among of all the pricing strategy, it is suggested to adopt economy pricing strategy as the small business organization would cover all the customers in middle level neither high class nor the low class. The product or the services should be easily accessible to all level of customers satisfying the needs and the wants. The Pound shop or 99p shop in UK can be the best examples as they provide all the products for just a  £1. Distribution system for SBEs Products or Services It is the methods of providing the products or the services to the ultimate customers what they want or need. There are basically two types of channel that can be followed for the distribution of products or the services. The first one in Indirect Distribution and another is Direct Distribution. Among of two distribution channel, Direct distribution will be the best suited for the small business organizations. By adopting the direct distribution, the mediators in between the business and the customers can be eliminated and can save the further expenses. Small businesses are not relying on traditional marketing methods, where marketing was used to like work-of-mouth or just printed advertisement. The time has been changed now so instead of traditional marketing internet marketing are in existence today. Internet has become as an integral part for the shopping by the customers. It is very difficult to find the customers for small business just depending upon the traditional marketing. Through the internet the business can attract many of new customers and is even cost effective and even the customers can save their valuable time and money. It is also noticed that the research activity output in E-Marketing had decreased significantly between 2003 and 2008 . The availability of information about the products and 24 hours service can give the advantage to the small business as well Conclusion To conclude, it is found that marketing is an important aspect for any kind of businesses whether it is small or big. The size of the business does not matter while adopting the marketing but the strategies of marketing plan may differ from one business to another. SWOT analysis or the use of Four Ps can be helpful for determining the specific marketing plan or for the marketing process. Whether it is segmenting market or the promotion strategies, for the small business there is the importance exists for satisfying the customers needs by providing the right product for right value. On the other hand, maintaining the relationship with customer is equally important to retain the customer within the business organization. It is not all over by only selling the product to the customers. Actually its the start of good relationship and the business opportunities from the profitable customers.

A Lifetime of Student Debt? Not Likely by Robin Wilson

Nicole Minabe Professor Parker RWS 280 March 10, 2013 The Beauty of Student Loans I owe $40,000, I owe $60,000, I owe $100,000. Isn’t that a lot of money for one person to owe? Graduates have been faced with a serious problem brought about by the constant borrowing of money to gain a reputable education. The debt of loans varies from person to person but the extreme amounts that individuals owe is something the media finds worth gossiping about.Little does the public know, in reality, all the commotion and conversation about these debts are not accountable for the majority of college borrowers. According to A Lifetime of Student Debt? Not Likely by Robin Wilson, she intrigues her targeted college audience by giving examples and providing awareness that most individuals are paying back their students loans within a timely manner with just a few sacrifices. Wilson emphasizes that the real reason individuals have an outstanding debt is because â€Å"they are determined to attend their dream college, no matter the cost† (257).There are various reasons why students take out loans and Wilson is determined to clear up the confusion of student debt, she encourages college students to take out loans even with media’s negativity, and lastly she tries to enlighten this targeted college group that debts are repayable with additional sacrifices but in the end, that debt was the best decision they have ever made. The majority of individuals overhear media and see newspapers headlining the outrageous student loan stories. Is it going to be the careful story driven by the data, or is it going to be the headline that can scare people? † (258). The media will seek attention-grabbing news by focusing on a headline that will scare millions of individuals. According to a CNN report in 2006, â€Å"they called student loans A Life Sentence and said: Forget about getting married and buying a home. This generation is thinking about next month’s paymen t† (258). While the media blasts out these so-called facts circling around the nation, college students are being frightened by the idea that student loans endure a negative impact.Not only is the media spreading the word but also graduates who have student loan debts themselves. In other words, â€Å"a lawyer with $100,000 in education debt started a Facebook campaign urging the government to free us of our obligations to repay our out of control student loan debt† (256). Due to the nations unawareness, the actuality of student debt is coming out from hiding. Despite the large number of headlines or media emphasizing on outrageous student debt, there is a vast majority of graduates who have and can pay off their loans.As the prominent economist himself, Mr. McPherson states that, â€Å"there are 65% who face debt, the average they owe is around $20,000. That’s just below the starting price of a 2009 Ford Escape† (257). He is arguing that if a necessity su ch as a car has a starting price close to the average debt, graduates should reconsider and realize that their problems aren’t as substantial as one might believe. Many individuals are so astounded they create panic among themselves and others that make the idea of debt a larger issue than it really is.One of the causes for the outrageous debt is due to individuals borrowing an amount more than necessary. In A Lifetime of Student Debt? Not likely, Wilson states that, â€Å"about 8% of undergraduates borrow at least double the national average† (257). According to financial aid experts, â€Å"over borrowers† capture most of the media’s undying attention and frighten the targeted college audience to discourage them from taking out loans. An â€Å"over borrower† named Darla M. Horn, wanted to get far away from a small town in Texas and is trying to pay off her $80,000 undergraduate student loan.She states, â€Å"I could have gone to a public school i n Texas for less, but I wanted to go to New York and start a new life† (263). For instance, Darla wanted specific attributes when deciding on how to spend her money on her education system. But what she needed was guidance from an expert to better strengthen and to further understand the consequences of â€Å"over borrowing†. In Wilson’s example she believes that there should be no reason for â€Å"over borrowing† and the total cost of an education consisting of books, classes, and living expenses cost around the weighted average.Due to the biggest setback of students who are determined to go to the college of their dreams tends to put a hole in their wallet. In other words, Mark Kantrowitz, publisher of FinAid states, â€Å"students want to be able to pay for the school they have wanted to go to for as long as they can remember, and they are willing to do whatever it takes† (258). These college students unnecessarily pull out large sums of money, w hich consequentially result in an outrageous amount students realize they can’t afford to pay back.Furthermore, a second situation that causes large debts is going to graduate and professional schools. Those schooling debts are way more expensive than the typical undergraduate debt. As Wilson argues, â€Å"medical school graduates borrowed on average of $113,661. But this higher debt makes sense for people who earn degrees in law, business, and medicine because they are much more capable of landing high-paying jobs and paying off larger loans† (259). These situations are the exceptions to the average student loans, which get confused on a daily basis.Wilson isn’t trying to discourage students from going to graduate school, but she is informing individuals about the end results. She also emphasizes those students whom go onto higher education to be confident their job afterwards will be able to manage such high debt. Normally, in situations like these, graduates tend to score better paying jobs to counter this large sum of money owed. A number of economists have suggested that, â€Å"borrowing for any kind of higher education is a smart idea. College is a good investment, and most students take out too few loans, not too many† (260).On the one hand Patrick M. Callan, president of the National Center for Public Policy and Higher Education argues, â€Å"the only thing worse than borrowing, is not borrowing and not going to college at all† (260). It is highly encouraged that students do get a higher education and according to the Project on Student Debt, â€Å"many more students are borrowing now compared with a decade ago† (261). Due to the rising number of borrowers, the education systems are getting more expensive but individuals still see the importance of getting an education in which experts are fully emphasizing.Additionally, a third reason why people have such high debt is caused by the family’s religious in terests. â€Å"For families who believe deeply in the mission of a Christian college, this is a school they’ll spend any amount of money on. This will make a huge difference in my kid’s life that is beyond income, more so whether their kid is going to go to church on Sundays or whether they will raise their own kids in the church† (266). The parent’s values are a crucial deciding factor when allowing their children to attend schools.Wilson decides to emphasize on this topic because parents who have set ethics for their son or daughter justifies an idea that they have to follow even if it might be an expensive option. The previous situations of those individuals who have enormous debt, higher than the average borrower, leads academic advisors to convey awareness on borrowing only what is necessary. According to a academic advisor, Mr. Saleh, â€Å"we can advise students about what we think is right, and we will caution students but if they have the legal ability to borrow the money, we cant prevent that from happening† (265).Some universities are also helping to take action to gain more awareness such as, â€Å"New York University has begun contacting high-school seniors it has admitted to make sure they understand the debt lad they could incur if the enroll† (265). Even with these extreme debt outliers, there are a lot of individuals that are able to create a living and make the best of their situation. As Robert A. Sevier VP at Stamats Inc. states, â€Å"they are graduating from college with $20,000 in debt; they are going to graduate school, getting jobs, and buying homes within their means† (266).An out of state graduate from Bryan College had a student debt of $30,000. Due to this debt, Robert has to make some sacrifices such as driving a beat up car and not buying the biggest or best house on the block. But even with these set backs, Robert and his wife are still able to get by. He states, â€Å"we definit ely have been able to live like normal people, we have satellite TV, Internet, and we both have cellphones† (266). Robert knows he could of went to a different college in his state but he felt that the lessons taught at Bryan College wouldn’t be lessons he could not have learned from another university.When it comes to entertainment or weekend activities, â€Å"the couple usually rents movies for $1 and visit their families who live nearby† (268). Robert is content about his selection of going to an out of state college but he has to make a few adjustments to his present life. Another individual, Sara who graduated from University of Iowa has a student loan debt of $23,000. The sacrifices she makes is, â€Å"every weekday her and her husband take their 9 month old bay to the babysitters house, drops Sara off at her office, and then the husband drives himself to his own office† (268).Due to the student loans, Sara â€Å"sacrifices and limits themselves to only having one car, didn’t buy the most expensive house, continues to breast feed their baby, use cloth diapers, and on weekends they get together over potluck dinners with other couples† (269). But in the end, Sara thinks every dime she spent on her education was worth it. She was also smart enough to not borrow more than she could reasonably pay back, knowing her intended major.Sara claims, â€Å"I have a car, a house, a baby, and I’ve been able to move forward with my life† (269). If Sara and her husband wanted anything more expensive, the couple would be able to save up for more luxurious items. Since Sara became â€Å"borrowing literate†, she will pass on that knowledge to her daughter so she can start saving at a young age to lower the cost of potential debt. In conclusion, Wilson portrays an analysis for raising certain debt issues and uncovers individuals with counter examples to support her argument.She uses this argumentative diction thro ughout her entire short story to resolve the current confusion her targeted audience experienced and emphasizes the importance of borrowing even if it causes debt. Also, the way she structures her story starts off with the problem statement about the confusion of student loans, the negativity that media portrays on debts, and lastly the personal stories to counter the argument to accentuate that graduates can still partake in a normal life with subtle scarifies where they say debt was the best decision they have ever made.Wilson decided to structure her story in a way to exercise her expertise so the target audience understands the big picture. Additionally, Wilson is warning those individuals who attend a more expensive college, to be aware of the costs entailed and know future sacrifices will follow. The education system is continually growing in expenses and she fully emphasizes to not fall into the trap of becoming an â€Å"over borrower. † Works Cited Graff, Gerald, Cath y Birkenstein, and Russel Durst. â€Å"They Say, I Say†: The Moves That Matter in Academic Writing : With Readings. New York: Norton, 2012. Print.

The Top 100 Arge Tative Essay Topics Cover Up

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The Origin Of The Black Plague - 892 Words

â€Å"Death without sorrow, marriage without affection, want without poverty, and flight without escape.† When you look up the word â€Å"without†, Merriam Webster defines the word as â€Å"not having or including (something).† When I think of the people of the 14th century spanning from the coast of Europe to the far shores of Asia I think they were without. Without the basic sanitation, without the means of having food to keep them from malnourishment. Millions of people did this till the plague took over. To fully understand the plague you have to go to origin, analyze the factors leading up to the plague, know the transmission, experience the symptoms, see the death and how the ending changed the North-East hemisphere to what it is today. Most historians believe the origin of the black plague begins in the Gobi desert, on the Mongolian Platte. The first written report of the plague is in the area. A merchant in 1332 states that Mongolian Grea Khan Jijaghatu Toq-Temer and two of his son had been laid to rest after a mystery disease struck them. The merchant goes on to report anyone who had dealings with them had passed too. In speculation a year earlier recordings of the Black Death had swept through Hopei Provence North East region of the territory, with accounts of 9/10th of the population gone. After the 1250’s the European region starts to dramatically take a landslide plunge. The economic decline of the 1250 seems to be the last straw in a long line of issues. After the economicShow MoreRelatedAnalysis Of Ring Around The Rosie 879 Words   |  4 Pagesverse we would fall down with some of us on top of each other. I chose this because of the fond memories in my childhood and the fun we all had. Another reason I chose this is because it reminds me of my childhood and growing up with my siblings. 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The plague bacteria circulates among different populations of certain rodents without causing an excessive amount of rodent die-off (â€Å"Centers for Disease Control and Prevention†)Read MoreEssay on The Black Death1474 Words   |  6 PagesThe Black Death was an extensive epidemic that spread across Europe from 1346 to 1353, killing over an estimated one-third of Europe’s entire population (Medieval World 56). Although historians are not entirely sure of its origin, the Black Death spread quickly across both Europe and Asia with a death toll that augmented rapidly. The plague also had unusual and deadly symptoms, causing â€Å"panic everywhere, with men and women knowing no way to stop death except to flee from it† (Kohn 28). The chaosRead MoreThe Black Plague, By Walter Wyman Essay1557 Words   |à ‚  7 Pagesthat explores deeper into that period, especially the Black plague. Assembling three primary sources of the black plague, each has a different perspective of what was portrayed in the academic article. Walter Wyman review’s The North American Review which argues where the Black Plague also known as the Bubonic Plague originated from. Wyman brings up that the plague was found in areas in Africa, Asia, and Europe. Additionally he claims the Plague had killed ancient Egyptian Kings and began to spreadRead MoreThe Plague Of The 19th Century926 Words   |  4 PagesThe plague that struck Europe and Asia in the 14th century was undoubtedly the most devastating disease or natural disaster the world ever faced. The Bubonic Plague or Black Death killed an estimated 25 million people from 1347 to 1352 in Europe, which accounted for one third of Europe’s population.-1 Historians believed that the Plague started in Asia and then spread to Europe. The plague lasted for five devastating years, but it’s wrath did not end in 1352. The Plague would reappear throughRead More Black Death Essay1184 Words   |  5 Pages Black Death, outbreak of bubonic plague that struck Eu rope and the Mediterranean area from 1347 through 1351. It was the first of a cycle of European plague epidemics that continued until the early 18th century. A cycle of ancient plagues had preceded these plagues between the 6th and 8th centuries AD; another cycle of modern followed them, but less deadly, plagues that began in the late 19th century and continue in the 20th century. The term quot;Black Deathquot; was not used to refer to theRead MoreI Shall Protect You From The Plague. Alice Mcmurray. Period1684 Words   |  7 PagesI Shall Protect You From The Plague Alice McMurray Period 6 April 21, 2017  Introduction Greetings, my great and powerful king! It is I, Margaret Stone, and I have come to inform you of the troubles of the Black Death. My great great grandfather, Michael of Piazza, was the first to record information on the Black Plague. I am writing this to protect you from ever getting this terrible, terrible disease. We can’t have a king as great as you die from this; it wouldn’t be a death equivalent to yourRead MoreProcopius View of the Byzantine Plague948 Words   |  4 Pagesattributes the sixth-century plague in Byzantium to God. According to Cameron (1985), his comments suggest that he believes in a religious explanation for the plague, though he does not here ascribe it to the wrath of God, as did so many of his contemporaries (42). However, in order to avoid condescending to Procopius, it is worth noting that his reasoning for this attribution is far more scientific than his conclusion might lead us to believe: it did not behave as prior plagues did, restrictin g itself