Consider how small businesses are influenced by larger businesses, which operate as opinion leaders within a specific market. Is this statement valid How does this relationship influence small business marketing As well as providing theoretical in - Essay Example

Presentation Pack: Influence of Larger Businesses on Small Business Marketing Presentation Pack: Influence of Larger Businesseson Small Business Marketing a. What I set out to achieve in my Presentation The primary goal I set to achieve in my presentation was to inform my audience of the various ways through which small businesses can be influenced by larger businesses operating as opinion leaders within specific markets, and how this relationship may impact on small business marketing. In addition, my presentation also sought to provide a theoretical insights explaining how large businesses can potentially act as important sources of marketing and growth strategies for the small businesses in a number of areas some of which include brand building, communication and building communities.

I particularly set out to achieve this by presenting various facts supporting the statement that as the opinion leaders of their respective markets, larger businesses are normally in a position to offer diverse lessons including marketing strategies and tactics to the small businesses. In order to achieve my goals for the presentation, my immediate plan and strategy was to use an interactive power point presentation highlighting the main points and providing a balanced appreciation of the various factors, opportunities through which small businesses can effectively learn from the bigger business when it comes to enacting their marketing planning and management. b. What I gained from the Exercise A significant lesson that the exercise has taught me is that a successful presentation requires considerable preparation including rehearsing the entire preparation prior to the big occasion.

I believe the quality of my presentation would have been better and more polished if I had dedicated more time for preparation and the difficulties that I experienced would have been avoided. The one thing that went fairly well during my presentation is that I managed to keep the time limit without skipping any important part of my presentation. I was able to successfully manage my presentation time by only focusing on a few key points and not cramming too much information on the power point slides.

However, the one thing that evidently did not go well is that I became extremely so nervous that I could not even answer some questions from my classmates and my teacher. This was particularly because it was my first time to make a presentation before a sizable number of people. I have since learnt a number of ways through which I can nervousness and anxiety to my advantage. c. How I engaged the audience enhanced your presentation During my presentation, I engaged my audience by using interactive power point presentation that was appropriately spaced and organized.

However, I later learnt that giving a great presentation requires one to first create a good rapport with the audience such as by getting funny, telling jokes and occasionally using humor. For example, I noticed that my colleagues and classmates who used humor and cracked jokes during their presentation all had successful presentations as they managed to effectively gain the attention of the audience, arouse interest and make a positive impression. d. Contemporary Academic Sources The two contemporary sources that have significantly helped me throughout the project to build my knowledge and frame my analysis and recommendations include: 1.

Kotler, P.(2007). Principles of Marketing. Pearson The book effectively presents some of the most fundamental business marketing information that is particularly relevant to small business marketing. Some of the key focuses of book include innovative product or brand marketing techniques and how to develop and attain loyal customers. 2. Ray, S. (2003). A theory of entrepreneurial opportunity identification and development. Journal of Business Venturing18, 105–123. The author has built on the existing empirical and theoretical studies to examine a number of entrepreneurial development strategies especially when it comes to their marketing and growth strategies; larger businesses act as suppliers and market price setters to the smaller ones (Ray, 2003). e. How the presentation has helped with your personal knowledge about marketing in the small business and your personal and professional development This presentation is informative in relation to the future of smaller businesses strategic planning and management plans.

Through this presentation it is evident that the future successes of smaller businesses are largely dependent on the larger businesses premises (Kotler 2007). Through this presentation lastly, brand building; which is a new terminology in marketing has gained roots theoretically in marketing class. Learning of this term in my career and professional development broadly opens mind on the influence by larger businesses on smaller ones. f. lesson or theme that could be helpful in completing your second assessment This exercise has been a very important one especially to me as business student especially when it comes to the strategic planning and management of small upcoming businesses (Kotler 2007).

The experience of putting into practicality the influence of larger businesses on smaller ones as well has overly enlighten me in relation to the business corporate world. The ideological statement that went backfired from this exercise is lack negative influence of larger business on smaller one. The presentations were solely dependent on positive impacts rather than negative ones. g. What have you learnt in particular from one of your colleague’s class presentation? What I have learnt from my colleague’s class presentation is that market-related opinion leadership is actually the inner core of both the smaller and larger businesses’ operations (Kotler 2007).

Creative approaches as well have emerged as the basic guidelines in both smaller and larger businesses marketing bench marking through my colleague’s presentation. References Kotler, P.(2007). Principles of Marketing. Pearson. Ray, S. (2003). A theory of entrepreneurial opportunity identification and development. Journal of Business Venturing18, 105–123. Storey, D., Greene, F.J.(2010). Small Business and Entrepreneurship, Harlow: Pearson. Wai‐sum, S., Kirby, D. (2008) Approaches to small firm marketing.

European Journal of Marketing 32, 2,40-60.