8 pages/≈2200 words
Mathematics & Economics
How To Increase The Market Share Of Small Business Enterprises (Dissertation Sample)
the paper was literature review on small enterprise based on strategy to expand market sharesource..
How to increase the market share of small business enterprises based on integrated marketing communications
[title of degree]
word count: 1,946
Table of Contents TOC \o "1-3" \h \z \u Research Background PAGEREF _Toc458678285 \h 3Research Motivation PAGEREF _Toc458678286 \h 3Literature Review and conceptual model PAGEREF _Toc458678287 \h 4Research gap and significance of research PAGEREF _Toc458678288 \h 5Research purpose and research questions PAGEREF _Toc458678289 \h 7References PAGEREF _Toc458678290 \h 8
The role of small and medium sized enterprises for an economy cannot be ignored. As global economies around the world start to grow, these enterprises prove to be the engine of growth that takes place. Small and medium enterprises are seen to be responsible for majority of employment opportunities and gross domestic product of an economy. This means that it also plays an important part in the development of world economy as a whole. These enterprises are able to provide goods and services to the economy while allowing to absorb many people in terms of employment being provided (Thorson & Moore, 2013). This allows for greater competition in the economy and a creative outlet for much of the production taking place. As the total production of the economy rises, so does the standard of living prevailing in the economy. In terms of research, there is a dearth of literature which studies the relevance of integrated marketing communications being used in the context of small and medium enterprises around the world. There is a lack of system which promotes the production and promotion of goods and services being produced by small and medium enterprises.
Small and Medium enterprises have grown all over the world. Due to low amount of capital being required, it provides a cheap outlet of expression to an entrepreneur to be able to set up a small enterprise. This enterprise is then able to employ workers on a small scale and carry out production. Kitchen and Burgmann (2010) state how in recent times, there have been a greater number of such enterprises being set up as they allow the economy to accommodate such venture with little or no cost and investment and are able to sustain a regional economy. In addition to that, there is an improvement in the standard of living of the region as the economy is able to prosper and sustain itself without any external aid or help (Kitchen & Burgmann, 2010). This is the reason why governments around the world are providing incentives and cheaper solutions to entrepreneurs in order to set up such ventures.
As globalization and urbanization of developed and developing countries takes place, cities are becoming over populated as people look for employment and sustenance. Small and Medium Enterprises are able to absorb some of this unemployment by providing employment opportunities which were not in place before. In addition to that, many of the unemployed can set up their own small enterprise in the face of not having any employment opportunity available to them (Shimp, 2010). This is also helped by the education system of the country which is able to equip the people with skills and knowledge which can be polished into vocational skills and abilities leading to development of the small and medium enterprises.
Literature Review and conceptual model
In order to see what this research will entail, it is important to define what a small business is. It is difficult to define a small business as it can differ based on country, industry or even the size of the economy it is operating in. Shimp & Andrews (2012) state that it is difficult to apply a uniform definition to the term small business but it can be determined based on certain qualitative or quantitative qualities. Qualitatively SMEs are defined by the ownership and see the structure of the company while in quantitative terms, the number of employees, equity, turnover, profit or revenue can be used to differ a small and medium enterprise company from other companies (Shimp & Andrews, 2012). It can be said that small enterprises are independently owned and are mostly financed and operated by one individual who is responsible for the day to day running of the company as well.
As the size of the individual company is small, there is little impact on the industry they are operating within. In terms of the economy, Small and Medium Enterprises contribute to the whole economy to a greater degree as they are able to drive employment creation and are able to stimulate growth in the economy. Yehsin (2012) comments on how due to their small size and flexible structure, they are able to counter long term problems faced by the economy. These problems can be defined in terms of poverty and falling household income of an economy. Small and Medium Enterprises are capable of providing the necessary means to meet the basic needs of a household and are able to sustain the livelihood (Yehsin, 2012). This makes development of the small and medium enterprise sector vital to the growth of the economy as well and a country needs to focus attention and resources to this sector in order to encourage any form of economic growth.
This creates the essential need for the entrepreneur to be able to communicate to the clients and be able to ensure that the market is educated enough regarding the products and services that it is providing to the market. This has to be done with the necessity that the customers and clients know about the quality, attributes and benefits of the product or service which the company is prov...
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