Role Of Internet Marketing On SMEs Growth - 7700 Words

Role Of Internet Marketing On SMEs Growth (Research Paper Sample) Content: ROLE OF INTERNET MARKETING ON SMEs GROWTHTable of ContentsTOC \o "1-9" \hAbstract2CHAPTER ONE: INTRODUCTION4Introduction4Background of the Study7Problem Statement7Research Objectives8Research Question9CHAPTER TWO: LITERATURE REVIEW92.0 Introduction92.1 Linking (strategic management) to organizational marketing activities102.2 Internet marketing from a social perspective112.2 Effects and relation of social networking platforms and internet marketing132.3 Internet marketing and its relation to businesses competitive nature182.4 "Internet marketing" to "going global"; the globalization of small and medium-sized enterprises202.5 How crucial is Internet marketing for SMEs21AbstractSmall and Medium Enterprises (SMEs) have been perceived as critical benefactors in the economy of numerous nations and new open doors are opening for them in household and global markets. It is crucial for a SME to develop keeping in mind the end goal to stay aggressive in these business sectors. As per specialists, there is no single hypothesis which can adequately clarify development of a SME yet the significance and utilization of the Internet is turning out to be progressively obvious among small and medium endeavors. Notwithstanding, despite the Internet's potential, the vast majority of the organizations don't see it as key to their techniques for development. The point of this proposal is to research how SMEs are utilizing the Internet as a part of procedures they receive for development. A subjective study including two contextual investigations on Swedish firms was directed with goal to portray the part of the Internet in their methodologies for development. The discoveries demonstrate that small and medium ventures embrace item improvement and market advancement development procedures for development. These organizations utilize the Internet in particular development methodologies predominantly to upgrade inward and outside correspondence, shortening the advanceme nt cycle of new items, extension of geological markets territorially and all inclusive, send out at low expenses, and giving backing to clients. Firms utilize the Internet to conquer the detriment of being small in size to achieve clients particularly in global markets. However firms don't utilize a significant part of the Internet for promoting and in building up new dissemination channels. Considered firms receive center levels of the Internet reconciliation and perceive the significance of larger amounts to increase most extreme advantages from development techniques. The discoveries bolster past research in that while firms see utilization of the Internet as essential they don't utilize the Internet further bolstering its full good fortune for development. Generally speaking, contextual analyses demonstrate that SMEs have clear approach towards reception of methodologies for development and consider the Internet as crucial giver for execution.CHAPTER ONE: INTRODUCTIONIntroductio nIn this paper, we will examine the different roles of internet growth of SMEs through internet marketing. We will analyze different angles through which SMEs can utilize internet market to increase their competitiveness. We will discuss the crucial role played by internet in todays marketing.BackgroundInternet marketing refers to the promotion of goods and services over the internet (Hanson, 2007). Mostly, it takes the form of social media marketing where a company places its products on Facebook, Twitter or Instagram in order for the public to give their opinions and address customers concerns (Hofacker, 2001). It offers a platform by which small and medium enterprises can cover wider markets by the touh of a button and increase their competitiveness in acquiring more market shares. Internet marketing, as a form of advertisement and promotion, for any given institution or business, needs proper management, in the sense that the internet marketing does not end up being misused: dir ected to the wrong audience or target market, which will end up squandering resources invested in the marketing exercise (Brinkman, Navarro Harper, 2014).Typically, the strategic managements main duty is to maximize the shareholders wealth by making good business decisions(Chaffey, 2000). Consequently, the strategicmanagement team is instrumental in generating a plan on how the marketing team should move to ensure survival and growth of the company (Jones Silverstein, 2009). For instance, the CEO can be influential in negotiating deals with Facebook Company so that most of its users have their internet traffic directed towards a companys website where they can interact with the marketing team(Agarwal, Sebia Yadav, 2014).By use of internet, small and medium business enterprises are able to access more global market shares since they are able to reach wider markets without sacrificing many resources which are limited to them. It is imperative to note that the term going global in the context means to access a worldwide market. Moreover, it means to go beyond the confines of a companys geographical location to reach out to the customers in other continents(Zimmerman, 2003). In the modern business setting, some goods that are sold do not require physical transfer of commodity. For instance, a company selling music records or mobile applications can just send the software to the buyers over the internet without necessarily shipping a tangible good.Furthermore, internet websites can be accessed from any part of the globe hence using it, as a marketing option, can be advantageous in increasing the sales of a company(Zimmerman, 2003). In the end, the type of internet marketing strategy chosen and the amount of financial support by thestrategic management to the marketing team are crucial in ensuring increased sales(ThaiTurkina, 2014).Small and medium-sized enterprises (SMEs) are broadly recognized as an essential area for national and worldwide monetary advancement. Development oriented independent company make a noteworthy commitment to financial improvement and business era inside neighborhood groups and national economies. (Smallbone and Wyer, 2000) SMEs contribute significantly to national economies (Poon and Swatman, 1999) and are evaluated to represent 80% for each penny of worldwide monetary development (Jutla et al, 2002).The utilization of the Internet and correspondence innovations has been found to enhance business aggressiveness, with the Internet giving the chance to SMEs to contend on equivalent terms with bigger associations (Chapman et al., 2000). The advancement of e-trade in the most recent ten years everywhere throughout the world has included a developing number of organizations. E-trade has been utilized as an essential lever to advance business development (Bianchi and Bivona, 2002). It is imperative for a firm to be consistent in development if the firm needs to keep up an upper hand, this especially because the competito rs will generally put more effort to gain an advantage over the firm. Nonstop development guarantees company's survival in the focused environment. In this manner firms ought to battle for nonstop development keeping the point of expanding or basically keeping up their deals and benefits levels, to guarantee their survival (Claver et al., 2006).SMEs ought to come up with development strategies/ strategies to gain a competitive edge over other. Development strategies are among the points in the writing which have been broadly examined as of late. Most speculations talk about development strategies that can be received and their impact on upper hands and achievement of firms (Robins and Wiersema, 1995). Different firms, be that as it may, may expand deals while really decreasing work (Delmar, 1998). Drew (2003) has reported have saying here no idea what you are industry changes and patterns, open doors for development, and the need to stay aware of rivalry as the essential main impetu ses.Winning the development diversion obliges organizations to exceed expectations in imperative zones (Kapur et al., 2005). Fruitful development arranged firms set the right development course by shaping an unmistakable perspective on the future, advancing the item advertise portfolio without being constrained by history, constructing an aggressive model to win and seeking after fortifying activities to maintain development. They genuinely comprehend their abilities, in view of practical appraisals of their qualities and confinements, and develop their operational model to bolster the development procedure. At long last, while numerous organizations create magnificent arrangements, genuinely fruitful development oriented firms assemble association wide conviction that makes an interpretation of goal without hesitation for everybody from top pioneers to bleeding edge chiefs. (in the same place).Background of the StudyInternet marketing is among the revolutions the world of marketing is undergoing, which has overtaken the traditional ways of marketing. On a global scale, it can be asserted that internet marketing when properly done can influence numerous people (Hofacker, 2001). Internet marketing on a global scale has been a source of business strength in that those firms that are able to control or master online marketing are able to control not just promotion of services and products internationally but also to set industrial trends (Brinkman, Navarro Harper, 2014).This applies to both small and large firms (ThaiTurkina, 2014).Problem StatementThere is no single theory which can sufficiently clarify small business development, and, as indicated by Smallbone et al., (1995) little...