Marketing strategies for small and medium enterprises / Maheel Ali Jaleel

Abstract:
Small and medium enterprises (SME's) are in any economy one of the strongest components in the trade industry. Without SME's it will be very difficult to maneuver the business sector of any country as the SME's compensates for the part where the large organizations lack.
In any economy the SME's play a huge role in sustaining the total market's balance as the large enterprises cannot cater to retail or individuals due to their operational factors and due to the size of their organizations and this is where the SME's take over
The purpose for this study is to identify which are the Marketing strategies used in the Maldivian SME's and at the same time, to identify which are the best and worst marketing strategies used by the SME's. For those SME's who do not use any marketing strategies, this study would focus on various situations and different marketing strategies which could be used by different local SME's.
The Marketing Strategies are used by Small and Medium Enterprises (SME) in order to achieve their objectives and the different challenges faced by them and how to overcome some of those challenges. This thesis is focused for the SME's which are functioning in the Maldives and how they are utilizing the marketing strategies and which mistakes they are making and how to overcome those mistakes.
A qualitative method is based on observation of different studies made of SME's marketing strategies and other such articles have been used for this thesis. I have made some observations on the local SME's and some international SME's too. The main strategies used by local SME's for their marketing purposes.
Basically, in any economy the SME's play a huge role in sustaining the total market's balance as the large enterprises cannot cater to retail or individuals due to their operational factors and due to the size of their organizations.
The analysis of the findings show that each business regardless of their size is different in their functioning and how the whole set-up works and how much change the method of marketing brings also depends on how they try to implement the strategies of marketing.