E-marketing for SMEs

Abstract

This article describes that though there are few studies conducted on SMEs' life cycle, there are no studies specifically done around the globe with focus on electronic marketing approaches for SMEs. SMEs are flexible, so they can respond quickly to changing marketing requirements. Four approaches explain marketing role in small firms: the stages/growth model, the management style model, the management function model and the contingency model. SMEs face-marketing problems due to limited financial base, market knowledge, branding activities, expertise and over dependence on marketing ability of the owner/manager. They adopt reactive-marketing rather than planned marketing. Therefore, they face difficulties to exploit opportunities available in the market. Thus, the article aims to develop new ways of marketing approaches to every element of the-marketing mix (price, place, product and promotion). Further, as SMEs generally use a “conservative” approach to marketing, the study findings reflect that adopting electronic marketing approach can help them to offer new improved product or innovative use of existing product.