The first strategy is the formation of a dedicated department for the marketing activities. Small businesses comprise of staff, mainly managers whose roles overlap. As such, an individual may be in charge of finance but at the same time is tasked to oversee the marketing affairs of the organization. In this case, the marketing task is not given the necessary attention that is expected. This dedicated department will have the duty of developing the marketing approach that will be used by the small business, carry out market research to identify the needs of the market and present a budget to the organization for approval. In this way, it will be easier for the small business to implement multi-channel marketing strategies that will ensure the
…show more content…
Research shows that over 70% of people spend some time on the internet on a daily basis (Mohr and Nevin, 1990); thereby presentinga viable opportunity for small businesses to reach out to their consumers and inform them about their offerings. Many small businesses have established social media pages that enable them to reach out to social media businesses. Another approach that is used by small companies to market their services has sales promotions that enable them to attract potential clients. When properly implemented, multi-channel marketing enhances the visibility of the company and directly results in more sales. The various case studies that have been included indicate the impact that these marketing activities have on the organization. These include case studies on Baxalta, Sephora and Avon. Although the entire process might seem expensive at the onset, these costs are offset as the organization gets more clients and the business grows. It is, therefore, important that any small business that wants to grow and become successful should embrace multi-channel marketing strategies.
The results of this study have some important implication on the role of marketing in regards to the growth of businesses. Most studies on the subject suggest that companies need large investment expenditure to increase their market penetration. However, this study indicates that small businesses only need to be strategic in their approach and use multiple platforms intensively to increase. The end result is that the business is able to get more clients and compete more effectively with larger
Research shows that over 70% of people spend some time on the internet on a daily basis (Mohr and Nevin, 1990); thereby presentinga viable opportunity for small businesses to reach out to their consumers and inform them about their offerings. Many small businesses have established social media pages that enable them to reach out to social media businesses. Another approach that is used by small companies to market their services has sales promotions that enable them to attract potential clients. When properly implemented, multi-channel marketing enhances the visibility of the company and directly results in more sales. The various case studies that have been included indicate the impact that these marketing activities have on the organization. These include case studies on Baxalta, Sephora and Avon. Although the entire process might seem expensive at the onset, these costs are offset as the organization gets more clients and the business grows. It is, therefore, important that any small business that wants to grow and become successful should embrace multi-channel marketing strategies.
The results of this study have some important implication on the role of marketing in regards to the growth of businesses. Most studies on the subject suggest that companies need large investment expenditure to increase their market penetration. However, this study indicates that small businesses only need to be strategic in their approach and use multiple platforms intensively to increase. The end result is that the business is able to get more clients and compete more effectively with larger