Strategic Marketing Dissertation Example | Topics and Well Written Essays - 5000 words

Strategic Marketing - Dissertation Example Therefore, Surviving in hard times requires a strong determination and a positive attitude. But in today's fast and merciless marketplace, more is needed than a winner's attitude. The following chapter is where the dissertation starts explaining in brief a number of small business hard time strategies to help steer the chopping waters of commerce. 2.0 Strategies for SMEs to fight Economic Crisis 2.1 Cost cutting For small business, cost-cutting needs to be implemented with the precision of a surgeon's scalpel. Cut too deep and your business will never recover. Cut too shallow and cash flow problems could force you to the back of the unemployment line. Look at percentages rather than dollars and cents. If your expenses are chewing up your profits, you need to take action. There are two ways to improve sagging profits: sell more or cut costs. However, if revenues and expenses grow at the same rate, selling more won't fix an anemic bottom line. "Mistake No. 1 is thinking that marketing is the best place to cut when businesses are looking to tighten their belts," says Ann Handley, chief content officer at Marketing Professionals. "But it's not the time to jettison marketing. If business is slow and you're reining in your plan to get your name out there, it means fewer leads, less business and, ultimately, less income." Exercise care and judgment in determining what and where to cut and by how much. I recently heard of companies getting rid of their marketing department, asking them to leave, but this is not the best solution, as marketing is the most important function in a business, without having to move your products and service, how is it possible to increase sales and profits. On the... For the small business, cost-cutting needs to be implemented with the precision of a surgeon’s scalpel. Cut too shallow and cash flow problems could force you to the back of the unemployment line. Look at percentages rather than dollars and cents. If your expenses are chewing up your profits, you need to take action. There are two ways to improve sagging profits: sell more or cut costs. However, if revenues and expenses grow at the same rate, selling more won't fix an anemic bottom line. "Mistake No. 1 is thinking that marketing is the best place to cut when businesses are looking to tighten their belts," says Ann Handley, chief content officer at Marketing Professionals. "But it's not the time to jettison marketing. If the business is slow and you're reining in your plan to get your name out there, it means fewer leads, less business and, ultimately, less income." Exercise care and judgment in determining what and where to cut and by how much. I recently heard of companies getting rid of their marketing department, asking them to leave, but this is not the best solution, as marketing is the most important function in a business, without having to move your products and service, how is it possible to increase sales and profits. On the contrary, there are some easier ways that would help you eliminate costs. Over the years we have looked at hundreds of marketing programs, and honestly, state that nearly all of them have some kind of hole that either drains money directly or allows leads to be lost.