Theoretical Assessment of Marketing Strategies for Small and Medium Enterprises in Indian scenario

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Published: Feb 1, 2024
DOI: https://doi.org/10.29070/657fd721
Keywords:
SMEs, marketing strategies, Indian economy, digital marketing, branding, resource optimization, cultural dynamics

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Authors

Monika Garg

Research Scholar, NIILM University, Kaithal, Haryana

Prof. M.L. Dhaka

Professor, NIILM University, Kaithal, Haryana

Abstract

Small and Medium Enterprises (SMEs) form the backbone of India's economy, contributing significantly to employment generation and economic growth. In an era of intense globalization and technological evolution, SMEs face unique challenges in establishing and satisfying effective marketing strategies. This theoretical assessment explores the intricacies of marketing strategies tailored for Indian SMEs, in view of cultural, economic, and technological dynamics specific to the Indian context. The paper synthesizes existing literature to identify key marketing agendas, evaluates their applicability to SMEs, and highlights innovative approaches, such as digital marketing, customer-centric branding, and value-driven promotion. It also examines barriers to effective marketing, including resource limitations, lack of expertise, and market fragmentation, and proposes strategic interventions to overcome these challenges. The study underscores the position of integrating traditional and digital marketing practices, leveraging cost-effective tools, and fostering agility to enhance competitiveness. This assessment aims to provide a robust theoretical foundation to guide policymakers, practitioners, and researchers in devising impactful marketing strategies for SMEs in India.

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Issue

Vol. 19 No. 1 (2024): International Journal of Information Technology and Management (IJITM)

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