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Marketing for Entrepreneurs and SMEs (Hardcover)
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Marketing for Entrepreneurs and SMEs (Hardcover)
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SMEs have been known to the world since the 1940s. Entrepreneurship
has been with the human kind since long but in the years following
the technological revolution of the 20th century, the importance of
both the Entrepreneurship and the SMEs has increased many folds in
the minds of the researchers as well as the practitioners of
marketing alike. The governments have not been far behind in
realizing this growing importance and have jumped into the foray to
help the SMEs and the Entrepreneurship to help achieve decent
growth rates and make them sustainable through sustained
innovation. Creativity has always been inherent in humans since
long. While many people are, creative and generate remarkable
ideas, only a few have the capacity to materialize these ideas into
innovative products or services. Yet again only a fraction among
these who innovate can present these innovations based on creative
ideas to the market in such a way that they are accepted by the
market and consumers are willing and able to pay for them. The
marketability of the innovation is not possible without
entrepreneurial skills which are essential to bring the innovation
to the market by applying appropriate business processes of
finance, marketing and promotion, etc. The SME phenomenon is based
on entrepreneurship as well and the power to innovate is inherent
to SMEs. Many governments have realized their importance and know
fully well that they contribute immensely to national GDP growth,
job creation and increase in exports and thus they have created
support networks to ensure that SMEs are developed, nurtured and
fostered in their countries. Regional and other organizations like
the G20, OECD, and European Union, etc. have instituted programs
and initiatives aimed at fostering their growth in their respective
countries and territories. With the individual country, GDP, very
much dependent on SME growth, these governments want to fully
utilize the power of innovation among their citizens to stimulate
national economic growth. In this drive to increase
competitiveness, some nations are faring better than the others and
the differences seems to be reflected in their innovative
capabilities.The phenomenon of cluster SMEs is getting very popular
as networked SMEs are better able to complement each other and take
part in global projects with the same ease that is reflective of
giant global corporations. The clusters can achieve better level of
financing, marketing capabilities and superior project management
as compared to the situation in which each individual SME would
have tried to take on the project by itself. United the clusters
stand and perform as lean and agile managerial systems to respond
to global challenges like never.
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