What is the percentage of small businesses in your locality? Every neighbourhood has its share of these business entities, and they contribute to more than half of the net revenue of the community. They act as a medium to promote the local culture and tradition. They maintain the ecosystem of the society and encourage the spirit of entrepreneurship among the future generations. They strive hard to sustain their businesses despite the economic fluctuations and changing market trends.
Given the changing consumer behaviour, these companies have budget constraints which make it difficult for them to compete with the corporate giants. However, an effective marketing strategy would assist them to establish their brand in powers with their competitors and peers.