Innovative Marketing Strategies for Micro , Small & Medium Enterprises

The MSME sector is a nursery of entrepreneurship, often driven by individual creativity and innovation. SME sector is the most neglected and unorganized sector of the Indian economy. The very fact that 40% of exports in India come from SME sector shows that this sector has the maximum potential to create employment opportunities. But they lack in getting required support from the concerned Government Departments, Banks and other financial institutions and corporates, which is handicap in becoming more competitive in the national and international markets. SMEs meet difficulties in adapting their strategies to market changes, and in competing with big enterprises. Marketing management capabilities in terms of marketing research, marketing strategy, planning and implementation, control and evaluation play a key role in the SMEs performance in the market. The existing marketing strategies reached the saturation point, where new innovative strategies need to percolate.