In recent years, entrepreneurs and SMEs have been forced to adapt to a rapidly changing, increasingly globalized world, an evolution that has had a profound impact on marketing strategies. This timely volume identifies the many new opportunities available to entrepreneurs and SMEs in the global marketplace, and offers tactical and strategic marketing approaches to help them succeed in the modern business world. The book provides solutions to current marketing challenges and leads the reader through the marketing process, supported with real-life examples. Discussions of hyper competition and the opportunities arising from information-communication technology offer a deeper understanding of modern consumers and ways to create added value through products, services and other entities. The authors stress the importance of an SMEs web presence and internationalization, as well as innovation and branding processes. Additional key topics include the development of services and experiences with customer co-creation, value-based pricing using new market channels and adapted communication tools (including social media), and how these approaches can lead to increased customer engagement and improved long-term relationships. This comprehensive book will be a useful resource for both scholars and practitioners with an interest in entrepreneurship, marketing, and business and management.
Contents: Preface Part I: Understanding Marketing for Entrepreneurs and SMEs and the Challenges they Face 1. An Understanding of Marketing for Entrepreneurs and SMEs 2. Value, Satisfaction and Customer Loyalty 3. Marketing Plan 4. The Trends and Challenges for SMEs Marketing in the 21st Century Part II: Understanding the Market and Consumers 5. Analyzing the Marketing Environment 6. Conducting Market Research and Forecasting Demand in SMEs 7. Consumer Purchase Behavior Part III: Developing an Approach to Strategic Marketing 8. Target Marketing: Segmentation, Targeting and Positioning 9. Challenges and Opportunities for SMEs to Market Diverse Entities 10. Innovation Process in SMEs 11. Branding in SMEs 12. Setting the Price in SMEs 13. Designing Marketing Channels in SMEs 14. Marketing Communications in SMEs Index
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