Techniques and Effective Marketing for Small Business and Its New Approach - Research Proposal Example

Techniques and Effective Marketing for Small Business and its new Approach 1. Background The problems regarding small businesses is regarding cost of health insurance, cost and availability of liability insurance, worker’s compensation, cost of fuel, federal taxes and income, Property taxes, cash flow, state taxes and business income, unfavorable government regulations, and electricity costs are also included. These problems can be mitigated with the efficient marketing of the products and services of the small businesses. (NFIB, 2004) As mentioned above marketing is the matter that determines the demand and that can mitigate the problems of any business. This should match the product or the service. The techniques will be different for different products and depend on customer needs. The customer needs, at times, result in increase of cost of production, but keeping this in view these also increase the demand for the products and services of the business. The first thing to keep in view is that it is not an event but a process. The small businesses need plans in ongoing process of marketing. The process of marketing needs the plan having concrete outlining that concentrates on achieving the targets. The research for the marketing is needed as the marketing needs best plan to ensure success and that is possible by continuously conducting research regarding it. The research regarding marketing minimizes the probability of failure of marketing plans. The research should target on decreasing the misunderstanding of the customers by marketing planners and should develop organized thinking regarding the execution of the plans. The research in marketing can give rise to analyzing tools for the measuring the progress of the demand for the business due to marketing plans. There will be business specific problems and common problems. The two types of problems can be identified and classified by research on these processes as well as the marketing strategies. The techniques that overcome the shortage of funds in marketing and advertising are possible with the research in this area of business. (MSU Extension Department) 2. Identification of Problems The identification of the problems in the marketing will void complacency in the marketing plans of small business. The research process in the marketing has to devise the methods in marketing that avoid the marketing staff to stand still. However, relying on the same marketing techniques for the long time is a problem in the marketing. The identification of the reason for this problem is important and this needs research. The main reason identified till now is that this is due to the lack of innovative ways in the marketing and this can be mitigated by conducting extensive research in the marketing methods and strategies. Generally in the marketing meetings of small businesses there will be much less to discuss after achieving the initial success. This is because the small business firm does not have access to the several marketing models that the big business firms implement. They need more budget and cost more. The problem with the marketing of the products and services of small business is that the strategies of marketing need more money. They are not cheap and best. So the future research in marketing needs to be done keeping in view the control of the cost in implementing strategies and plans of marketing. The problem of the small businesses is to have continual business marketing like that of the bigger firms. The strategies and tactics are a problem as the present long-term strategies need high budgets. Improving of the last year’s results is the main problem in marketing of small business firms’ products and services. The identification of the strategies and plans that work and do not work with the small business firms is needed. This is possible by constantly experimenting and this can be enabled by research process in marketing strategies. The important problem in the marketing of the products in small businesses is the complacency in the marketing. This can be removed by announcing rewards for identification of problems. The identification and the process of rewarding the identification of problems need research to make it streamlined. (Charlie Cook, 2007) 3. Support for the Studies The support for the studies arises from the problems of the small businesses, which are not getting clients. According to Charlie Cook (2007), a consultant and researcher in marketing the small business firms do not get the clients, as they do not do the right things to market the products and services. The strategy followed by majority of the small business firms is not the strategy meant for their size of firms. In general the small firms spend more money on advertising and they think that advertising is the only way for marketing. According to Cook, simply the motions of marketing may not yield results. The marketing of the small firms should attract the potential clients and this will give the firm a chance to grow into a big firm. This needs concentrating on customers needs and identifying the potential customers. This identification of potential needs does not have any special strategies in the case of small business firms. The small business firms spend more time on the individual business tactics and research support is needed to make them identify the potential clients. The support of the research to the marketing is needed in helping the firms to generate several prospects that can be converted into paying clients. The highly effective marketing manuals are generally present in big business firms and the research process should support the needs of the small business firms. The strategies that increase the sales of the small business are needed and they can be made possible by research in this context. The research process should help the small business firms to apply the principles of starting with the client’s problems, targeting the market, demonstrating value, building network and to stay in touch. The support the research should give the small business firms in marketing their products about the client’s primary concerns of getting problems solved. (Charlie Cook, 2007) 4. Methodology The methodology is important in making the research of the marketing for small business a success. The clarity of methodology will determine the level of success of marketing strategies when implemented practically. The methodology of the research should concentrate on strategy, commitment and planning of the small business firms regarding their marketing implementation. The attraction of the qualified prospects should be the important aspect in the methodology of the research process. For this the methodology should involve solid branding strategy, sound marketing plan, consistent marketing strategies, and owner’s commitment, educating the prospect, creating relationships and generating referrals and communication of unique value to the prospect is important. The evaluation of planning, strategy, execution, commitment and perseverance of small business firms and the needs of clients should be involved in the research method. The methodology should involve the understanding of the competency in the marketing strategies. The sound fundamentals should be listed to design the methodology of the research. The clue about the doings of the firms, communication to make the clients buy, testing the results of marketing investment, knowing the target market, identification of value of the products and clients, determination of the brand focus, positioning the product in the market, developing relationship marketing should be involved in methodology of research. For this the researchers should evaluate the above processes in the planning and strategies of marketing regarding small business firms. (Coach Ron Abbott, 2007) 5. Alternate Methods of Research The research methods should consider owner-managers’ startups as in case of small businesses the owners and managers are same. The methods of marshalling the limited resources should be explored. This can be considered as a clear challenge for small business firms to be mitigated by the research in this area. The capital of the small business needed to be split into product development, personnel, operations, sales and marketing. As the marketing costs are driven up, the alternative methods are needed to make the most of the marketing funds available and reliability of inexpensive and free marketing vehicles should be explored. The alternative methods of marketing should not concentrate broadcast methods of marketing and this perception of clients needs alternative marketing methods to be developed. The alternative methods of marketing should concentrate on the sites and areas the most people are concentrating. The blogs, satellite radio, MP3 for Music and internet should be considered for attracting the customers to the products of small business firms. The aforementioned areas are not the part of the traditional marketing strategies. The investigation of the alternative methods in marketing is necessary as they are the areas that the customers concentrate their actions. The small business entrepreneurs and owner-managers should be engaged in business to consumer ventures. The limited resources like personnel, time and money should be used judiciously and this involves the alternative methods in marketing processes. The downsizing, cost cutting and reorganization of the resources of marketing are necessary in alternative methods of marketing and this cannot be done without research in this area. In alternative methods the small business will not be treated as fractions of larger one. This is to avoid the possible problem of blindly following the techniques of larger firms. When the smaller firms are considered as independent entities. The small businesses can follow competitive and marketing strategies if the alternative methods are used in different targeting, positioning, pricing and distribution. While considering the modern and alternative strategies the research methods should take into consideration the cash flows of different small business firms. The identification of the processes is important in alternative marketing. The realization of product, pricing and placement as the marketing aspects will enable the small business firms to derive the alternative marketing techniques. So the research should concentrate on developing these aspects as marketing activities in the strategies for small business firms. The opening of new distribution channel should be done keeping in view the demand the marketing strategies in mind and the research should frame guidelines for small business firms in doing so. (Douglyss Giuliana, 2007) References 1. NFIB, 15th June 2004, Small Business: Problems and Priorities, NFIB, Vol. 6, Retrieved on 21st October from http://www.nfib.com/object/IO_16191.html 2. MSU Extension Department, 19th November 2004, How to Market Your Small Business, Learn that, Vol. 9, Retrieved on 21st October from http://www.learnthat.com/business/learn-124-small_business_marketing.htm 3. Charlie Cook, 2007, 5 Ways to Avoid Small Business Marketing Complacency, Marketing for Success, Vol. 1, Retrieved on 21st October from http://www.marketingforsuccess.com/articles23w/complacency.html 4. Charlie Cook, 2007, Use This Small Business Marketing Strategy to Attract More Clients, Marketing for Success, Vol. 1, Retrieved on 21st October from http://www.marketingforsuccess.com/marketing-strategy.html 5. Coach Ron Abbott, 21st October 2007, Your Source for Common Sense Small Business Marketing Knowledge, Small Business Marketing Hub, Volume information not available, Retrieved on 21st October from http://www.small-business-marketing-hub.com/ 6. Douglyss Giuliana, 2007, Alternative marketing techniques for Entrepreneurs, Scribd, Volume information not available, Retrieved on 21st October from http://www.scribd.com/doc/35013/Alternative-Marketing-Techniques-for-Entrepreneurs Read More