This unit will discuss the practices of SME marketing in retail sector based on their critical thinking and cover following questions are given below:
- Analyse the concept of types of marketing i.e. integrated, personalised and digital marketing.
- Describe the types of feedback from the customers from retail sector
- Perform the marketing mix of SME.
- Explain the concept of networking.
Marketing is new, aggressive and unusual way to illustrate what develop a business unique and different. There are various marketing strategy which are used by an entrepreneur for getting success in the life. Entrepreneur marketing is promoting their business among large number of people who willing to buy their goods and services (Miles and et. al., 2015). The report is based on 3 SME retail companies which is situated in UK which involves Trading scents, Guildford Tyre company and Naked Wines. The assignment main purpose is to analyse the marketing practices of these companies.
The marketing practices related to three companies which are based in United kingdom are described as follows:
Integrated marketing used by Trading scents:
Marketing is essential for every business concern because this will help firm in promoting and spreading awareness of their goods and facilities to the domestic as well as national customers. Integrated marketing is an approach which help in developing and creating a unified and seamless experience for consumers that communicate with the firm (Chang and Wyszomirski, 2015). There are various market factors such includes sales promotion, advertising, public relation and social media through which they can easily promote their products and services among customers. Trading scents is the wholesaler company which distribute health care drugs and toiletries to the suppliers. The company are using this practice through which they can easily supply their products and facilities to the trustworthy suppliers who are deliver such goods to the different hospital. The main advantages of integrated marketing is to reach with direct customers who are willing to purchase their products and services (Burns and Dewhurst, 2016). The firm is combining various marketing tools and methods which can be used while promoting different type of marketing activities within an organisation as well as external areas.
Personalised marketing used by Guildford Tyre company:
Personalised marketing is also known as one to one marketing and individual marketing in which the strategy of market is to leverage data analysis and digital technology that deliver individual messages and products offering to the current and desired customers. Guildford Tyre company use this personalised marketing which help in enhancing their customers engagement. This company uses this strategy in their email campaigns. Along with this, firm use their user location send which is highly personalised emails that are based on their users area. Guildford Tyre company is the trade and retail delivery and fitting of all makes tyre of various vehicles such as car, van, MPV and motorcycle (Lam and Harker, 2015). The main aim of this practice which is used by respective firm is that they are truly engage with buyers or expected customers by interacting with each individual. By this practice, customers are more comfortable which provides personal data and information to their desired brands. This marketing practice help in enhancing brand loyalty where company provide unique and different type of goods and services to their customers.
Digital marketing used by Naked Wines:
Digital marketing encompasses with all marketing efforts which are used electronic techniques and devices or the internet. With the help of digital marketing, company can easily gaining attention of large number of customers by fulfil their needs and demand in better manner. In order to gain success in digital marketing, firm required to identify the significance of using various digital marketing channels. The main advantage of digital marketing is that it will help in target audience that can be achieved in cost effective and measurable manner. Naked Wine is the online wine retailer company. Naked Wines customers fund independent wine makers from all over the world (Scarborough, 2016). They are using digital marketing practices through which they can easily analyse customers needs and wants in better way. Also they are developing those wine products which are mainly demand by their consumers. This will assist in directly interacting with final users and identify their current requirements regarding products and services. It is necessary for firm is to use digital marketing practices because this will help in target specific audience which involves male members who usually buy wines at every occasion or function.
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From the above mentioned report, it can be concluded that marketing entrepreneurship is less compared as single marketing strategy and it is more about spirit which differentiate itself from traditional marketing practices. There are three practices of marketing which are used for gaining attention of large number of customers towards firm products and services effectively. In this, directly marketing is beneficial for interacting with domestic as well as international customers in easy manner.
- Scarborough, N.M., 2016. Essentials of entrepreneurship and small business management. Pearson.
- Lam, W. and Harker, M.J., 2015. Marketing and entrepreneurship: An integrated view from the entrepreneur’s perspective. International Small Business Journal. 33(3). pp.321-348.
- Burns, P. and Dewhurst, J. eds., 2016. Small business and entrepreneurship. Macmillan International Higher Education.
- Miles, M. and et. al., 2015. Exploring entrepreneurial marketing. Journal of Strategic Marketing. 23(2). pp.94-111.
- Chang, W.J. and Wyszomirski, M., 2015. What is arts entrepreneurship? Tracking the development of its definition in scholarly journals. Artivate: a journal of entrepreneurship in the arts.4(2). pp.11-31.