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Marketing & Promotion

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Marketing & promotion of products or services are necessary for SMEs to attain sustainable growth and a bigger market share. The term "marketing"often refers to the promotion of products or services, particularly through advertising and branding. Besides promotion, other important aspects of marketing are product management, pricing and distribution. SMEs should invest in marketing research that can help determine what consumers want and what they are willing to pay for to ensure a successful marketing plan and hence improve their competitive edge.

At the conclusion of the second National SME Development Council meeting on 2 December 2004, one of decisions made was to strengthen the marketing and promotion of SME products and services. Coordinated efforts would focus on four main areas, namely :

  • Supply of industrial parts and components to Multinational Companies (MNCs) and large companies;
     
  • Supply of consumer products to major retail outlets;
     
  • Using intermediaries as a channel to enable SMEs to penetrate the export market; and
     
  • Enhancing the marketing of services provided by SMEs.

     

 

 
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