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Marketing Final Examination 2) Smaller and larger businesses do share many of the same characteristics in terms of marketing, but there are some fundamental differences which largely relate to size. The first difference is budget, which obviously is determined exclusively by the size of the business…
A failed marketing campaign has the potential to sink a small business, whereas a large business can write it off as an acceptable loss. The second biggest difference is in the form of staff. Large business have the luxury of many different departments, with each manned by a number of individuals. In smaller business, the manager of the firm may have to take on several key roles, thus limiting his or her ability to be effective in the marketing role. Finally, the last difference in marketing centers on creativity. Large business often have a lot more contacts in the industry, so their marketing campaigns are more likely to be effective with the market. On the other hand, small businesses do not have the leverage to be creative and often have to design unimaginative yet effective marketing campaigns. 3) Marketing strategies that engage with the customer are the most effective for improving service quality for a small business. Small businesses often do not have large marketing budgets, but that is no excuse for not trying to make a connection with the customer. The great thing about small businesses is than customers often gravitate towards them because of the increased face-to-face interaction. The product or service on offer does influence the marketing strategy to be used. ...
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