A Study on Marketing Strategies of MSMEs in U.P.

Ekta Verma; Shaiba

A Study on Marketing Strategies of MSMEs in U.P.

Author(s)	Ekta Verma, Shaiba
Country	India
Abstract	Research Problem: MSMEs encounter challenges while trying to compete with large corporations and adapt their tactics to changing market conditions. The performance of MSMEs in the market is heavily influenced by their marketing management capabilities in terms of marketing research, marketing strategy, planning and implementation, control, and assessment. Since so many MNCs have entered the market and created intense competition, the existing marketing strategies have reached a point of saturation, and new, innovative strategies are now needed. It is crucial to understand the strategies used by Indian MSMEs to promote and make their products compatible with the market. Research Aim: This paper focuses on the marketing strategies employed by Micro Small and Medium Enterprises to stand out against fierce competition and market their goods in a competitive marketplace. Design/Methodology/Approach: Primary data has been collected through well-structured questionnaire from entrepreneurs of 100 MSMEs selected on random basis and a ssimple statistical analysis which includes descriptive statistical analysis is carried out to assess whether entrepreneur is satisfied from the prevailing marketing strategies. Secondary data was collected through referred journals, articles and reports published by Ministry of MSMEs. Research Findings: The study reveals that the application of appropriate marketing strategies by MSMEs is not satisfactory in this competitive environment. Their differentiation strategy is weak. The present paper suggests various innovative marketing tools like Customer Relationship Management (CRM), Digital Advertising, Mobile Application and B2B Marketing. The tools help MSMEs to improve their performance and gain real time insight about the business.
Keywords	Marketing Strategies, Marketing Intelligence System, Marketing Tools
Field	Sociology
Published In	Volume 4, Issue 6, November-December 2022
Published On	2022-12-27
Cite This	A Study on Marketing Strategies of MSMEs in U.P. - Ekta Verma, Shaiba - IJFMR Volume 4, Issue 6, November-December 2022.

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A Study on Marketing Strategies of MSMEs in U.P.

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