by Rajen KumarIndia's Manufacturing Muddle
What holds Indias manufacturing sector at the back foot? Why the sector has failed to emerge from the shadow of a strong service sector which has recorded a creditable growth in the...
Special ReportsMar 2014
When you have just decided to go ahead and chase your dream of higher studies, the one you had sidelined for quite some time now, you realize the road ahead is not so...
Is the SME Market Up for Cloud Makeover?
Despite the high growth rate forecasted for the SME industry a lot needs be done to make them truly competitive in a post globalization characterised by blurring of geographical boundaries, amelioration of trading limitations GATT and coming of age of the customer service revolution.
How Getitbazaar E-commerce Platform Aids MSMEs
E commerce in India is witnessing remarkable growth with growing internet penetration, changing consumer lifestyle, a younger consuming population and increasing acceptance of online shopping. This trend of online shopping is set to see the next era of growth, with a host of smaller, local merchants emerging to drive their share of the ecommerce pie.
Build Your Marketing 'Muscle' After BPO and KPO, now it's time for MPO!
Economic uncertainties, post the recession has opened more vistas and lot more people, both experienced and not-so-experienced are jumping the bandwagon of being an entrepreneur. Their take: “Anyway, I need to survive tough times. So why not being on my own?” According to the latest estimates there are around 30 million and more SME businesses in India across various industries.
How SMEs can Connect with Potential Consumers in Rural Market
Internet Marketing can Boost your Sales
Internet marketing or web marketing also known as, online marketing or e-marketing or web advertising, has become an acceptable tool to market or promote your products or services online. Today the realm of Internet has widened multifold. Imagine how difficult it would be to find a tin needle in a huge haystack but it may be possible through the modern communication means.
Renewable Energy Market – Opportunities and Challenges for the SMEs – Part III
Azure Power India Pvt. Ltd. is the poster child of India's solar growth story. Five years ago, in 2007, when the company was set up by Inderpreet Wadhwa, solar energy was still in its nascent stage. In fact a whole lot of people were skeptical of increase in solar capacity citing that grid-parity was a distant dream. Grid parity is the point at which alternative means of generating electricity (such as through renewable sources) produces power at a cost which is competitive in comparison to power purchased from the grid (generated using conventional fuel such as coal).
Renewable Energy Market – Opportunities and Challenges for the SMEs – Part II
In our last column of this three part series we touched upon the growth of Renewable Energy (RE) Market in India, the RE industry structure and a brief on market participants. We also concluded that the Indian SMEs are poised to play an important role in the growth of this industry.
Renewable Energy Market: Opportunities and Challenges for the SMEs
India is a power hungry nation – it has to be. Even with the pessimistic clouds around, a country of more than 1.2 billion will need energy as its backbone to achieve the near 7% GDP growth rate, as projected by various banks and financial institutions. However this is precisely the area where we lack currently. According to the Government of India's Ministry of Power (MoP) with an installed capacity of 185 GW(as on 30 November 2011) the country as a whole faced an energy deficit of 10.4% and a peak deficit of 12.5% These numbers are way behind the targets as set out in the Eleventh Five Year Plan. While the target was to add 78.7 GW of generation capacity; the actual realization has not been more than 50 GW.
Conventional War Sales & Marketing
Today the companies must identify their market and their offerings on the basis of KYC tools (Know your Customer), there actual needs and wants. It is important to remember that every customer has different taste, attitude and the understanding about every aspect. Sales & Marketing have vital role to play in this process as it not only specifies the need of the customer but also analyze the product requirement and the changes required in the product as well as in the process, which helps to convert a prospective buyer to a customer and generate the revenue as per the business plan.
Rural Marketing- Challenges and Opportunities
About 70% of India's total population is rural by nature. Rural India has a population of 83.3 crore spread across 6,38,000 villages. The rural-urban distribution ratio currently is 68.84% & 31.16% respectively. A report by National Council of Applied Economic Research (NCAER) shows that rural segment comprise more than 50% of consumers constituting as a prime market for consumer goods. Corporate businesses in India are under pressure to capture the untapped rural market to increase their profitability and market share. Companies are adopting rural marketing in a broader context of sustainability in the era of intense competition to grow their businesses and thereby also contributing towards the economic development and the welfare of the rural economy. The total number of rural households is expected to rise from 135 million in 2001-02 to 153 million in 2009-10. This presents the largest potential market in the world. The annual size of the rural FMCG market was estimated at around US$ 10.5 billion in 2001-02. With growing incomes at both the rural and the urban level, the market potential is expected to expand further
Internet Marketing: Why necessary for SMEs?
Intense competition in the business world requires that no matter what the size of your business, you need marketing for success. Internet marketing is the foremost among contemporary marketing strategies, as this medium has a global reach and is a quicker way to attract customers. Small and medium enterprises should not hesitate or fear to adopt the internet marketing tactic, as it does not mean huge investments or manpower to drive audiences to their products or brands.
Keep Business Healthy – Round the Year : Advice from Marketing Doctor
Business is like a human being – one must watch for its health & growth. Today, business is marketing. One cannot ignore the important role systematic & strategic marketing plays towards all round business development. Marketing is not magic. Marketing is a science. Marketing in any form of unplanned advertising campaign often acts like steroid, acts but for a while and takes away a lot in turn. Why not use marketing in business mix like vitamin, regular intake keeps business healthy?
Are You Still Cold Calling?
What differentiates the first from the second sales person is the intelligent use of various social networking sites and Internet. Unfortunately 8 out of 10 sales professionals fall in the first category. Let me tell you how you can also be a modern tech savvy sales person. First, do you have an account on www.Linkedin.com, if not; you are trying to fight a battle with a stone in a nuclear weapon era. You are missing connect with one crore professionals in India which are growing at a rate of 76% annually. If at all you have an account, how many connections do you have and more importantly how many of those connections are from your school, college, company and customers. Obviously the higher connections you have from the last category, the better are your chances of being connected with your prospects.
Let us Start Nurturing Consumer Needs than Selling Products
Marketing is envisaged as a function that understands value as perceived by the target group, creates value, communicates value and delivers value. The value of a product is the mental estimation a consumer makes of it. Formally, it may be conceptualized as the relationship between the consumer's perceived benefits in relation to the perceived costs of receiving these benefits.
BUSINESS FIRST, MARKETING MUST: Importance v/s. Ignorance of Marketing
Fundamentally, he had made two mistakes. First, since last ten years, when he started his business in packaging, he heavily depended on one customer. There were few other customers which he developed in the mean time. The share of the major customer was 85% in his business.
MSME Intelligence Portal is a Symbol of the Transformation in MSMEs Domain
After the addition of the all the features, there will be a charge of Rs.4000/- per annum towards accessing the information available on the portal which will have the content in 10 different languages. Initially the data of almost 2,50,000 buyers and sellers has been added to the portal.
Crowdsource Your Marketing Needs
More so because the belief that branding and marketing is for big companies with hi-paid MBA's managing the function not for the business owner whose agenda is to ensure that he pays salary to his employees on time and delivers to his clients as per the expectation.
Relevance of Marketing Mix for SMEs
A strategy commonly used is the "Marketing Mix". Historically, This tool is made up of four variables known as the "Four P's" of marketing i.e. Product, Price, Place and Promotion. However with change in business environment, we can easily add 4 more P's viz. Position, Package, People and Partners in original list of Marketing Mix. So instead of 4 P's, now we have 8 P's of Marketing
Business Must, Marketing First: Importance v/s. Ignorance of marketing
They collectively agreed to the concept of the MARKET FIRST. B2B marketing strategy was implemented with large corporate companies, banks, insurance companies, and publishing houses and alike for type of work that can be immediately serviced. Of course, it takes time for new customers to come in after pitching in over a reasonable period of time with a variety of marketing tools and techniques.
Appreciating Sales Promotion Techniques to Earn Immediate Business Gains
Importance of Integrated Marketing Communication System for Enhancing Business Prospects
Integrated Marketing Communication strategies include determining the target audience, establishing objectives and budgets, analyzing social, competitive, cultural and technological issues, and finally evaluation and feedback regarding the effectiveness of promotional strategies adopted.
Product Pricing and Finance for Marketing
The SME promoter launched the product with practically no visibility in market and picking up a distributor in jeopardy. Kept the price at Rs. 150/- only. Distributors under no financial and trade obligation pushed the product to select retailers under their umbrella. But as the market intelligence and feedback implies is that products were started returning back through the distributor channel after visibly long time spent on the retailer's shelf.
Marketing and Brand Building for SMEs
The most significant aspect of Marketing is Brand building and Communication. The significance and magnitude of Marketing function and the operations vary from industry to industry and it is very significantly derived by the scale of operations. It is imperative to appreciate and understand that Marketing is like any investment.
'Call Getit': Single Window for Print, Voice & Online Presence of SMEs
Through our new age services, we promote SMEs every where from print (directory, yellow pages, etc.), voice services (call centers) to online. We have dedicated manpower to render our services to SMEs to really help them without getting confused and spending hard-earned money.
It's Marketing War: SMEs Better Brace Up Now
While the threat of Chinese invasion on the Indian market is strong, Indian SMEs producing consumer goods, small tools and machinery may have reasons to worry. Products like torch lights, pens, umbrellas, apparels, toys, locks & electronics have become competitive in the Indian market. In India there are certain sectors invariably dominated by SMEs and these SMEs have been contributing significantly to the economy.
Marketing Tips for SMEs
The finance minister of India, Pranab Mukherjee, might have failed to pay heed to the needs of the SMEs with the latest budget. But there is a platform which has been incorporated solely to alleviate the most common and the most critical problems faced by the SME segment in India.
Marketing for Finance: SME can not ignore the increasing interface between finance and marketing in business
Gone were the days when a SME can start and grow with one's own limited savings. Today, in fact it is more difficult to ask for loan, fund or any kind of financial help from family members and friends. Money like never before in India is becoming the most valuable thing in life and business.
E-Consulting Ideal for All India SMEs
E-Consulting is a query (plan, problems, issues in your business) based business advisory and assistance services rendered by the experts and experienced in a business function but offered and operated via routes of communication like phone, email, live video chat or simple chat sessions. All you need is the ability to communicate in simple English or Hindi.
Brand Marketing For SMEs: Products, Services and Enterprise – All Need Branding
In the economic globalization, to compete on a global scale to survive, SMEs must focus on a strategic perspective on the brand strategy, brand building needs. Brand management is a systematic process involving the management activities, with both the science and the art. Often, the problems faced by SMEs in the business/market are answered by the branding strategy but onus to implement and maintain the continuity is of SME.
SME Marketing Reality Check
In short, Marketing Reality Check is the need in prevailing system of ratings to make it more vulnerable and useful for all. Readers in the industry can write or call the author for their specific questions on the new dimension in business rating.
Is Your Enterprise Growing?
Simply, it is because 3Cs of modern day marketing viz. customer, competition and change have dominated every size of businesses and industries. Competition from outside companies into local area (market) of SME has changed the way SME used to do business these years. Increasing demand from customers for quality, delivery & price has put additional pressure on SMEs to survive and satisfy customers.
Value Creation – Visibility Marketing for SME Company / Business
First is their aptitude and attitude towards looking at things in reference to 3Cs viz. change, competition and customers. SME promoters of these companies changed with the changing time, change in trend.
Social Media Marketing – Cost Effective Branding Tool
For instance let's talk about utilizing social media as an effective medium in branding and marketing and will it really benefit the brand that we are trying to build. Social media has become an effective tool for today's marketing and branding people to reach masses and enable organizations grow.
Way Before Your Company First Meets Dalal Street
World won't come to know about you, your products, your company. Your business associates like bankers, private investors, micro finance institutes, chartered accountants, legal advisors, department heads and others in compliance, your staff and their families, your vendors and suppliers, service providers in all areas and above all customers in past, present and future.
Want to go to Dalal Street? : Plan 3 years before...
SME owners have always misunderstood value of marketing as important business functions, leave aside branding. With increasing competition, globalization and growth challenge slowly many in visionary SME company management have started taking interest. They have also realised that in today’s world to grow even external finance is must.
Grassroots to Global–Marketing Strategy for SMEs
The Oxford University Press defines global marketing as “marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives”. Global marketing is not revolutionary shift, it is an evolutionary process. A marketing restricted to the political boundaries of a country, is called a “Domestic Marketing”. A company marketing only within its national boundaries has to consider domestic competition (local, regional and national).
Adding Life to Brand Promotions
Jyoti, founder of a personalized gifting company, CraftMyGift says “A coffee mug and a T-shirt might not always work as a brand promotional item. Many times we have to create the brand promotional product from scratch, in order to ensure it is well aligned with the business and also connects well with the end recipient. Otherwise the brand will become one of the numerous branded products stacked up in the cupboard and rarely taken out”. The creative team at CraftMyGift spends additional effort to understand the business of their clients and often work on new creative concepts to ensure it describes the business in the right way.
3Cs of SME MARKETING
Time to Develop Marketing Clusters for SMEs
Expanza has created a pan-India Business Resource Network for Indian SMEs. The company has a strong network of around 170 network associates across 17 cities. These associates are experts/professionals in their respective fields and are working closely with SMEs across India. Expanza leverages on this resource and generates a platform to reach out to the SMEs.
Suki: A business networking website for SMEs
Celebrating the inherent Pinoy entrepreneurial nature, PLDT-SME Nation is launching Suki (www.suki.net.ph), the first business-networking site that enables entrepreneurs to interact and transact with their digital customers in a social community-networking set-up.
Brand-Busting Mistakes to Avoid
NSIC's B2B Portal for MSMEs Launched
A very exhaustive well-researched B2B portal of National Small Industries Corporation has been launched in Delhi recently. The portal will provide the much-needed web-based marketing support to MSMEs in the country.
Right Steps to Market Your Products or Services
A marketing strategy is a plan which identifies the firm's marketing goals and explains how they will be achieved within a stated time-frame. It includes product development, pricing approach, distribution, promotion and advertising. Marketing strategy determines the choice of a target market segment, brand positioning, and allocation of resources.
Improve your marketing effectiveness - Target the right niche market
you're like most small business owners, you're thinking about what you want people to know about you, your products or services, and your business. And you're also probably thinking about your own wants, needs and goals (IE: getting the client or making the sale).
Handicrafts Exports units Suffer
Handicrafts exports from Agra region have been badly affected by the global meltdown, necessitating urgent steps to arrest the slide in the interest of more than lakh artisans, craftsmen and an extensive network of retailers and exporters.
- Winner of appreciation award for promoting SMEs in India.
- 1st ever Indian magazine to penetrate tier II, III cities & the rural belt.
- Industry Partnerships include CII, FICCI, ASSOCHAM, PHDCC, AIMA, ITPO, SME Network, Federation of Indian Micro Small Enterprises (FISME)
- Official Magazine Partners for several national & international MSME events.
The Last Word
January every year used to be the Great Film Month in Delhi. International Film Festival of India, IFFI used to take place a great get together of film buffs. Youngsters with a taste for the...
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