Author(s): Tanaya Patil, Richa Banagiri, Punam Bhoyar,Ruth Felicita and Soumi Ray
Marketing is an activity that is the lifeline for any growing firm. When done right, it can reap multiple benefits for the firm in terms of attracting potential customers, sustaining the current ones, introducing new products and services as well as enhancing brand image. The benefits of good marketing become more significant when the firms in question are SMEs. SMEs all over the globe require a good marketing strategy to ensure the success and stability of their venture. In the absence of a good marketing strategy, these firms lose their important customers to larger firms with good financial and technical resources, Indian SMEs are also facing similar struggles of not being able to compete successfully due to poor marketing planning and strategy.