Professional Documents
Culture Documents
2 - Introduction-Citation
2 - Introduction-Citation
Barone A., (2013) claimed that a marketing strategy is a company's overall plan for reaching out to
potential purchasers and converting them into buyers of its goods or services. A marketing plan includes
high-level components including the company's value proposition, key brand message, demographic
information on the target audience, etc. The four Ps of marketing—product, pricing, place, and
company's plan for reaching potential customers and converting them into buyers of their goods or
services. The core of a company's business plan should be its unique selling point. A marketing strategy's
sole objective is to establish and communicate a sustainable competitive advantage over competitors.
The marketing plan, a document that describes the precise kinds of marketing activity that a company
does and includes timeframes for launching various marketing efforts, comprises the marketing strategy.
Since marketing strategies incorporate value propositions and other essential components of a
company's brand, which typically remain stable over time, they should ideally have a longer lifespan
than individual marketing plans. In other words, marketing plans outline the operational specifics of
particular campaigns, whereas marketing strategies address broad messaging. By comprehending the
needs and desires of its customers, a company can ultimately achieve and communicate a durable
competitive edge over competitors. A marketing asset's capacity to successfully articulate a company's
primary unique selling proposition can be assessed regardless of whether it is a print ad design, mass
According to Wikipedia, Little businesses are distinct legal entities such as corporations, partnerships,
or sole proprietorships that have fewer employees and/or lower yearly income than a regular-sized
company. Companies are considered "small" if they are eligible for government assistance and favorable
tax treatment. Depending on the nation and industry, different requirements are required. Small
enterprises can have as little as fifteen employees under the Australian Fair Work Act 2009, fifty under
the EU's definition, and less than 500 under certain U.S. regulatory frameworks. Programs run by the
Small Business Administration. Although there are various ways to categorize small firms, such annual
revenues, shipments, sales, assets, or by annual gross or net revenue or net profits, the number of
"Small business owners deliver a specialized product or service to those who need it in a specific
community." A small business entrepreneur often launches a company in their neighborhood to serve a
particular target market. Sometimes a small business is born out of a person's experience or passion,
and that person decides to go it alone to have a bigger impact. A mom-and-pop shop is frequently left to
a business owner by a relative. Small business entrepreneurs are focused on contributing in some way to
their community. Small business owners frequently follow their instincts and steer clear of situations
that could cause them problems later on. Even though starting a small business might be hazardous,
companies often have a modest growth trajectory based on the resources they have and continue to
expand steadily as they get more clients and spread the word about their offerings. Small business
owners are more concerned with day-to-day operations, maintaining healthy cash flow, and successfully
fulfilling their role in the community. They are more focused on the now, and their dream is frequently
within reach. Small business operators stick to what they know will work for their company. They are
adept at establishing ongoing success. There is no need for them to continue because they have already
filled the gap they set out to fill. Small business owners are frequently more sentimental about their
enterprise and would never consider turning it over to another person. Once they've gotten the most
out of one endeavor, they are content where they are and don't want to move on to the next big thing
(ContentBacon, 2021).
A marketing plan is one of the most crucial business tools that every firm can use. A bank will want to
know about your marketing strategy if you're seeking finance to launch a firm. An investor will want to
see a marketing plan if you're searching for funding to expand your company so he can show how his
investment will result in profits. Your prospective buyers will also want to comprehend both your
marketing strategy and plan if you are selling your company. The marketing strategy's implementation
will be outlined in the marketing plan. Its nature is much more tactical. "Strategy without tactics is the
slowest way to victory," Sun Tzu once famously remarked. The adage "tactics without strategy is the
The rationale of Implementing marketing strategies on small business owners concludes that it has an
important role for a business to blow up and survive. By providing customers with the goods and
services they require at a price they can pay, successful businesses provide value for their clients. These
businesses employ marketing techniques to make their goods and services suitable for the market.
Using various marketing techniques is justified in order to better understand market demands and more
fully meet them. Businesses that create strong marketing plans generate large sales volumes at the
targeted profit margins. Market segmentation into divisions that the business can examine is a crucial
marketing tactic. It makes sense to group comparable clients together because they have different traits
and needs. These groupings have traits and requirements in common. The rationale behind
implementing such a marketing plan is so that the business may more effectively meet the needs of
groups of comparable clients. For various market sectors, it can design slightly different products and
match promotions to the buyers. The company performs better by more effectively meeting the needs
of each sector. And therefore conclude, the implementation of marketing strategies on small business
owners helps them Boost brand awareness, especially when just starting, Target potential
clients/customers that are interested in your product, it creates a community of loyal fans of your brand,
helps Engage with customers online and understand their needs, build a pipeline of qualified leads and
Help you acquire more buyers in your local area. Marketing strategies makes owners be able to face