Advertisement

MSMEs-Strategic Marketing

  • R. SrinivasanEmail author
  • C. P. Lohith
Chapter
First Online:
Part of the India Studies in Business and Economics book series (ISBE)

Abstract

Strategic marketing plan adopted by most of the Indian MSMEs do not go beyond the formulation of mission-vision statements. Most of the time, this move will not help the firm to obtain the expected success. An effective strategic plan needs a MSME to have an action plan covering long-term objectives derived from its mission-vision statements. In spite of knowing the importance of strategic marketing, most of the Indian organizations devote less time towards implementing this at the organizational levels. It is very high time that now this can be practically implemented to see the drastic improvement. Planning for strategic marketing will definitely result in rapid changes which yields a huge success for any MSME.

The key takeaways for the reader from this chapter are listed below

  • Strategic marketing in MSMEs: Theory and Trends

  • Need of Strategic marketing for Indian MSMEs

  • Objectives of carrying out Strategic marketing by Indian MSMEs

Keywords

Strategic marketing New products Firm performance Marketing mix Customer relationship management Competitive advantage 
This is a preview of subscription content, log in to check access.

References

  1. Anderson M (1999) Why diversity professionals should care about SMEs. J HRM 16(4):67–71Google Scholar
  2. Basant et al (2010) “Arrested Virtual Cycle? Higher Education and High-technology Industries in India” in Annual World Bank Conference on Development Economics 2009, Global: People, Politics, and Globalization ed. Justin Yifu Lin and Boris Pleskovic. Washington, DC: World Bank, 2010.Google Scholar
  3. Day G (1994) The capabilities of market-driven organizations. J Mark 58(4):37–52. Google Scholar
  4. Drucker PF (1994) Innovation and entrepreneurship: practice and principles. Heinemann, LondonGoogle Scholar
  5. Friedman S (2000) Work place arrangement strategy. J pers manag 12(3):12–15Google Scholar
  6. Fanersher J (2003) Strategies enhanced by corporate. J Manag 34(8):30–33Google Scholar
  7. Gootee BH (1998) Flexible work arrangements: managing the work-family boundary. Bus Rev, dt 12(5):2000Google Scholar
  8. Gilmore A, Carson D, Grant K (2001) SME marketing in practice. Mark Intell Plann 19(1):6–11CrossRefGoogle Scholar
  9. Gronroos C (1990) Relationship approach to marketing in service contexts: The marketing and organizational behavior interface. J Bus Res 20(1):3–11.Google Scholar
  10. Gummesson E (1987) “The New Marketing –Developing Long-term Interactive Relationships”, Long Range Plann 20(4):10–20.Google Scholar
  11. Kotler (2005) Marketing Management, edn. New York: Prentice Hall.Google Scholar
  12. Kotler P, Keller Kl (2008) Marketing management, 12th revised edn. Prentice Hall, SingaporeGoogle Scholar
  13. Kwaku AA, Satyendra S (1998) Customer orientation and performance: a study of SMEs. Manage Decis 36(6):385–394Google Scholar
  14. Li and Mitchell (2009) The Pace and Stability of Small Enterprise Innovation in Highly Dynamic Economies: A China-Based Template, J Small Bus Manage 47(3):370–397.Google Scholar
  15. McEvily SK, Eisenhardt KM, Prescott JE (2004) “The global acquisition, leverage, and protection of technological competencies”, Strategic Manage J 25:713–22.Google Scholar
  16. Nerkar A, Roberts PW (2004) Technological and product-market experience and the success of new product introductions in the pharmaceutical industry. Strategic Manage J 25(1):779–799.Google Scholar
  17. O’Dwyer M, Gilmore A, Carson D (2009) Innovative marketing in SMEs: an empirical study, J Strategic Marketing 17(5):383–396.Google Scholar
  18. Perreault and McCarthy (2002) Basic Marketing-A global managerial approach–New Delhi-Tata McGraw Hill.Google Scholar
  19. Romano C, Ratnatunga J (1995) The role of marketing: its impact on small enterprise research.In Conference proceedings: research at the marketing/entrepreneurship interface, University of Illinois at Chicago, Chicago, IL, 111–136Google Scholar
  20. Rosenbusch N, Brinckmann J, Bausch A (2011) Is innovation always beneficial? A meta-analysis of the relationship between innovation and performance in SMEs, J Bus Venturing 26:441–457.Google Scholar
  21. Sirmon et al (2007) Managing firm resources in dynamic environments to create value: looking inside the black box. Acad Manage Rev 32(1):273–292Google Scholar
  22. Sorescu Alina B, Rajesh K. Chandy, Jaideep C. Prabhu (2003) “Sources and Financial Consequences of Radical Innovation: Insights from Pharmaceuticals,” J Marketing 67 (October), 82–101.Google Scholar
  23. Srinivasan R (2014) Strategic management-the indian context‖. Prentice-hall Of India Pvt LtdGoogle Scholar
  24. Verhees FJHM, Meulenberg, MTG (2004) Market orientation, innovativeness product innovation, and performance in small firms. J Small Bus Manage 42(2):134–154.Google Scholar
  25. Vorhies DW, Morgan NA (2005) Benchmarking marketing capabilities for sustainable competitive advantage. J Marketing 69(1):80–94.Google Scholar
  26. Walker et al (2001) Adaptive policies, policy analysis and policy making, Eur J Oper Res 128:282–289.Google Scholar
  27. Yen S, Chew DAS (2011) An investigation of marketing strategy, business environment and performance of construction SMEs in China. Afr J Bus Manage 5(6):2396–2405. ISSN 1993-8233Google Scholar

Copyright information

© Springer Nature Singapore Pte Ltd. 2017

Authors and Affiliations

  1. 1.Department of Management StudiesIndian Institute of ScienceBengaluruIndia
  2. 2.Department of Mechanical EngineeringSiddaganga Institute of TechnologyTumakuruIndia

Personalised recommendations

Cite chapter

Buy options