Small Business Management

Unit 4

Unit 4

Marketing Management

Structure: 4.1 Introduction Objectives 4.2 Marketing Mix 4.3 Product 4.4 Price 4.5 Place 4.6 Promotion 4.7 People 4.8 Process 4.9 Physical Appearance 4.10 Marketing Assistance to MSME Units by Government 4.11 Summary 4.12 Glossary 4.13 Terminal Questions 4.14 Answers 4.15 Suggested Reading

4.1 Introduction
The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.Peter Drucker The marketing function is of such critical importance to a business that the Management Guru Peter Drucker went to the extent of saying that every business has two and only two functions: Marketing and Innovation. At the heart of marketing is the customer. It is therefore imperative to identify his needs and wants and gear the organisation to supply him the right products at the right price and in the right place, duly communicating information about these in the right way. The actual place of purchase should have a pleasing ambience with salespersons serving the customer with a smile, with the systems enabling the sale to be completed in an easy and smooth manner. Marketing becomes doubly important to a small businessman since empirical studies have shown that one of the major factors leading to
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sickness in MSME units is marketing problems. The paradox is that MSME sector accounts for as much as 40% of exports of the country. This only indicates the potential of this sector and with proper application of the principles of marketing management this sector is bound to grow andreach greater heights. Fortunately, the government recognises the important role of this sector and is providing support and assistance, technical, marketing and financial, to give further momentum to this growth. Objectives: After studying this unit, you will be able to: appreciate the importance of marketing function list and explain the 7Ps of marketing describe the various steps taken by the government to help MSMEs in marketing their products.

4.2 Marketing Mix

Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements, profitably.Chartered Institute of Marketing, UK. Marketing mix" is a general phrase used to describe different kinds of choices organisations have to make in the whole process of bringing a product or service to the customer. The 4Ps is one way of defining the marketing mix, and was first expressed in 1960 by E J McCarthy. Later this was expanded to 7Ps by Booms and Bitner by including additional factors. Marketing mix is a powerful tool to understand the marketing function. The 7Ps are given in the chart below and each of them explained subsequently.

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Marketing Mix

Self Assessment Question 1. The 7Ps of marketing mix are _______, ____________ , _________, ______________ , _________________ , _______ , ___________.

4.3 Product
An entrepreneur must first identify the needs and wants of a customer and develop a product or service to satisfy that need to be successful. Seth Godin rightly observes: Dont find customers for your products, find products for your customers. How valid this proposition is can be seen by taking the case of an ordinary papad. Lanklingam of Lanson Group, Chennai, discovered that their biggest market was not really the Indian community in the UK but it was the British hankering for a taste of exotica. He converted a modest Indian food accompaniment (papad) into a ready-toeat product suitable for the British customer styled as Poppadum and evolved a successful export venture. Like taste identified in the above case as what the customer is looking for, there are other different values a customer looks for in different types of products. These could be: Brand name: Dettol has such a strong image as a safe germicide that it is viewed as a synonym for antiseptic liquid.

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Functionality: Product is what it does. One need not own a product to use it. This is illustrated by Iqbal Qadirs Grameen Phone concept. InBangladesh, Grameen Phone is offering a special low-priced package to so-called 'phone ladies' in small villages, where fixed telephone lines are non-existent. The phone ladies share their cell phones with other villagers at a few taka a call. Quality: Johnsons baby powder is chosen as the first choice by all mothers as it is perceived to be of good quality. Safety: When it comes to investment Sundaram Finance Ltd enjoys an unrivalled reputation for safety of investment and prompt payment of interest. So every investor feels absolutely safe to deposit their money with them. Packaging: The products were sold in big bottles and not in sachets by multinational companies and that too from fancy stores only. They overlooked small kirana stores and the rural market. CavinKare introduced shampoos to the rural areas of South India where people hardly used it. They introduced shampoo in small sachets which revolutionised cosmetic marketing in India. Spares & accessories: In the case of any equipment, domestic or industrial, quick availability of spares and accessories will be a major factor tilting the balance in favour of one who is in a vantage position in this respect.

Self Assessment Question 2. The values that a customer looks for in a product are ___________, _____________ . (mention any two)

4.4 Price
Factors affecting pricing decisions are: Consumers Competitors Cost Channels Government.

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Consumers look for affordability when buying a product. So pricing has to be attractive to the consumer. Price elasticity of demand i.e. whether small changes in price will have significant impact on demand is to be considered. If two products offer the same value, the buyer will choose the product with lower price. Hence, competitors influence the price one can charge. Price must cover cost to yield a profit. So cost influences the price one can charge. The longer the sales channel (the number of wholesalers, distributors and retailers) the higher will be the selling cost and so the price. But without such intermediaries it may be difficult to sell the product. Therefore, a suitable channel strategy is to be adopted. The Government may regulate prices in order to achieve socio-economic objectives like food for the poor at affordable prices, power to farmers, MSMEs at concessional rates, etc. Pricing strategy The pricing strategy will depend upon the stage of the product in the product life cycle. In the early stage of new product introduction in the market, one may charge a high price since the product is new and there are no competitors. This is called skimming the market strategy. When competitor enters the market, he may adopt a penetrating price strategy. In this strategy a very low price is charged in order to wean away existing loyal customers. Kesarbhai Patel created a new market segment and marketing history with the low-priced detergent Nirma, when only costly detergents were available. This is a good example for the potency of penetrating price strategy not to wean away existing customers but create a whole new class of customers as in the case of shampoo in sachet cited earlier. Cost plus pricing is often used in government contracts. In this case the buyer agrees to pay an agreed margin over and above the actual cost incurred in supplying the product or executing the contract.

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Target pricing is an approach in which the company, after survey, predetermines the affordable price at which the product will be bought by the customer. There is no compromise on quality. Export pricing can be different from domestic pricing in order to expand the market for ones product or to take advantage of incentives and tax benefits. Discriminatory pricing is often adopted by the government to achieve certain socio-economic objectives. For example food grains supplied at lower price to white ration card holders. Diesel supplied at less than cost to contain the cost of movement of goods. Products supplied through military canteens to defence personnel is at a lower price than the market price. Self Assessment Questions 3. A product is said to be elastic when small changes in price produce large change in demand. (True or False) 4. Discriminatory pricing is often adopted by the government to achieve certain political objectives. (True or False)

4.5 Place
Place is about how to move the products to the customer or, to put it in a formal way, place is about distribution. The organisation should consider whether to sell products directly through its own branches/depots or through wholesaler/dealer network. Enlisting the enthusiastic participation of the channel partner, by way of assuring adequate profit margin, special deals, etc. is essential for a sustainable long-term relationship. Moving the product to a place that is convenient to the customer and simultaneously involve minimal cost to the manufacturer is a decision to be carefully evaluated. A major question that crops up in this context is the level of stocks to be kept at various storage points, ensuring sales is not lost due to shortage of stocks nor is money lost due to excessive inventory. Internet and mobile technology have dramatically altered the dynamics of marketing. Goods could be ordered on the net and delivered at home. Organisations like Flipkartare posing a big challenge to brick & mortar book stores like Landmark and Walden. Redbus, e-Seva and other online services have made standing in the queue for a buying a ticket or paying
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ones bills unnecessary. Many companies are using social media networks like Facebook to promote their products and also to get realistic feedbackabout their products. E-banking has reduced transaction costs to banks and added convenience to customers. Self Assessment Question 5. The two objectives of distribution are ____________ and ________.

4.6 Promotion
Promotion is concerned with getting the message of the product across to the public so as to elicit a positive response. Marketing communication covers advertising, sales promotions, public relations and publicity. For advertising there are many alternatives as TV, Radio, Newspaper, Magazines, etc. The cost, reach and relevance of the medium have to be worked out. Law of advertising Be a brand leader as in consumer behaviour, it is the single most important motivating factor. When your product/service is a leader in the market, people start thinking it must be better. If an advertisement says that the product is better, they'll think, thats what they all say. Advertising is a powerful tool to maintain leadership and protection from competition.Al Ries & Laura Ries Sales promotions can be of three types: Consumer promotion: The consumer is offered incentives like free samples, gift coupons, gifts like pens, diaries, sweets, etc. Trade promotion: Incentives are given to traders by organising sales contests, visits to holiday spots, cooperative advertising, etc. Sales force promotion: Similar to the above as sales contests, bonus for exceeding sales targets, etc. Sales promotion is done to boost sales in the short term. Sales promotion can also be done through public relations and publicity. These can take the form of press releases to highlight the features of a product and also to project the image of the company as a good corporate citizen.
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Self Assessment Question 6. The three types of sales promotion are ________, _______, _____.

4.7 People
The saying that happy employees make happy customers goes to show the importance of sales staff behaviour in marketing. A survey of shoppers conducted by Consumer Reports in 2011 found that nearly two-thirds of them walked out of a shop in the previous 12 months because of poor service. Anger at the inability to reach a human on the phone accounted for 71 percent of them, while rude sales people put off 65 percent. Sears analysed data from 800 stores and found that a 5 percent increase in employee satisfaction drove a 1.3 percent increase in customer satisfaction, in turn bringing a 0.5 percent increase in revenue growth, according to a study published in the Harvard Business Review. Customers like to spend time with people who want to spend time with them. The resultis that they spend more money when they are happy. When employees treat their customers helpfully and cheerfully they make repeat visits and become loyal customers. Best Buy, a leading consumer electronics retailer in US, launched a customer-centric strategy; the key element in it was to identify the needs of the customer and offer total solutions rather than just selling the product. For a buyer of TV, cables and accessories also will be made available and advice given on proper installation. The salesmen also must give a live demonstration of operating the T V and completely clear all doubts of the customer. In fact the time spent with the customer was taken as a measure of performance. The satisfied customer thus became the best ambassador of the product and Best Buy. Self Assessment Questions 7. Happy employees make happy ______________.

4.8 Process
Nothing is more irritating to a customer than to be put on hold for an indefinite period. Long waiting time at the payment counter is another annoying factor. Receiving something not ordered upsets a customer. A newly installed washing machine not working on day 2 is not what the
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customer expects. All such irritants must be removed to make the purchase a pleasant experience. Consistently delivering satisfaction to the customer is not a matter of chance. You may have all the other 6Ps in place but to ensure sustained delivery of value, appropriate systems and processes must be instituted. Self Assessment Questions 8. For a pleasant purchase experience all __________ in the process must be removed.

4.9 Physical Appearance

As said, first impression is the last impression. This is particularly true in case of corporate sector. The first thing that one notices when one looks at a person is his or her face. Likewise, the front office can be represented as the face of the organisation. Thus, the first impression created by an organisation totally depends on the front office. The look and feel of the front office gives thefirst glimpse of the organisation to the visitor. It symbolises the values and discipline of the organisation and therefore it is good to pay extra attention to its appearance. A welcoming atmosphere should also be created by the reception staff. Training to show confidence in body language should also be given to the reception staff. The visitors should be welcomed with a smile by them as a smile works wonders with visitors who've had a tough day. They should speak to visitors in a normal and controlled tone and with clarity. They should also be told to listen to the visitor when he or she is talking, as interrupting is often considered very rude. They should not be allowed to eat or drink while on the desk as it gives a very bad impression to the visitors. The front office should look very neat and clean. Always remember the old adage "A picture is worth a thousand words" in this case. A clean looking head office makes a very good impression to the visitors. What is said above of the front office is equally true of a shop or a restaurant. We all know that Mavalli Tiffin Room created a name for itself by the cleanliness that is maintained in the entire premises. The guests can even visit the kitchen to get an idea of how hygienically the preparations are made. People are drawn to MTR as much by the quality of food as its
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cleanliness. Certainly an untidy place or a grumpy assistant or a foul smell can drive away all prospective customers. The right ambience should be created. Tata must build the Tanishq showroom in a glamorous manner unlike a watch showroom which can be built in a functional manner. This suffices to say that physical appearance is a critical ingredient of the marketing mix. Self Assessment Questions 9. Physical appearance is important because first impression is ________.

4.10 Marketing Assistance to MSME Units by Government

Government is helping the growth of MSMEs in several ways recognising the important role they play in economic development. These are given below. 1. Reservation/de-reservation of products for manufacture in the micro and small enterprise sector: An important feature of the Indian economy is the exclusivity provided to MSMEs to produce certain items. This was achieved by listing a large number of items as Reserved for production by the MSME sector.The Policy of Reservation of Products for Exclusive Manufacture in SSI (now MSEs) was initiated with the objective of achieving socio-economic development, through development and promotion of small units all over the country. However, with the gradual opening up of the economy, de-reservation had to be resorted to for providing opportunities to MSEs for technological upgradation, promotion of exports and achieving economies of scale. Accordingly, the MSEs are being encouraged to modernise and enhance their competitiveness for facing the challenges arising out of liberalisation and globalisation of the economy. At present only 20 items are reserved for exclusive manufacture in micro and small enterprise sector from the original figure of 844 items. 2. Purchase from MSME units by Government: Government sets an annual target of 20 percent procurement for the Central Government departments and PSUs from MSEs. Within this limit, four percent of the orders should be placed to the SC/ST entrepreneurs and 16 percent for others.
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However, the procurement policy would be voluntary in nature for three years. It would be made mandatory after three years The Central Ministries/PSU will continue to procure 358 items from MSEs, which have been reserved for exclusive purchase from them. 3. Consortia and Tender Marketing: Micro & Small Enterprises (MSEs) in their individual capacity face problems to procure and execute large orders, which deny them a level-playing field vis--vis large enterprises. NSIC accordingly forms consortia of small units manufacturing the same products, thereby pooling in their capacity which provides comfort level to MSEs as suppliers and also to buyers. The Corporation applies for tenders on behalf of consortia of MSEs and secures orders for bulk quantities. These orders are then distributed amongst MSEs in tune with their production capacity. Single Point Registration for Government Purchase: NSIC operates a Single Point Registration Scheme under the Government Purchase Programme. The micro and small enterprises registered under this scheme get the following facilities: i) Issue of tenders free of cost. ii) Advance intimation of tenders issued by DGS&D. iii) Exemption from payment of earnest money deposit. iv) Waiver of security deposit up to the monetary limit for which the enterprise is registered. v) Issue of competency certificate after due verification, in case the value of an order exceeds the monetary limit. 4. Exhibitions: To showcase the competencies of Indian MSMEs, NSIC facilitates MSMEs participation in International Exhibitions, Fairs, etc. on concessional terms under the Marketing Assistance Scheme of the M/o MSME by partially meeting the cost towards rent of stall as well as air fare. Participation in these even exposes MSMEs to international practices and enhances their business prowess. Through participation in these events, MSMEs are also facilitated to capture new markets making them globally competitive. 5. Buyer-Seller Meets: Large and institutional buyers such as Railways, Defence, Communication Departments and large companies are invited to participate in buyerseller meets to enrich micro & small
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enterprises knowledge regarding terms and conditions, quality standards, etc. required by the buyers. These meets are aimed at vendor development from MSEs for the bulk manufacturers. Marketing Assistance Scheme: This is an on-going scheme for providing marketing support to MSMEs. The scheme is being implemented through National Small Industries Corporation (NSIC) Limited. The main aimsof the scheme are enhancing the marketing competitiveness of MSMEs, providing them a platform to interact with the individual/ institutional buyers, updating them with prevalent market scenario and providing them a forum to redress their problems. Under this Scheme, MSMEs are supported to capture the new market opportunities byorganising/participating in various domestic & international exhibitions/trade fairs, BuyerSeller meets, intensive campaigns and other marketing events. 6. Export Promotion (Training Programme on Packaging for Exports): To educate MSE entrepreneurs about the scientific packing techniques, latest design of packing technology,how to improve their packaging standards and to highlight the importance of packaging in marketing, specialised training programmes on packaging for exports for MSE units are conducted through field offices. Women, SC&ST and Physically Handicapped participants are exempted from payment of participation fee for these training programmes. All existing and potential entrepreneurs from Micro, Small & Medium Enterprises are eligible for training under this scheme. 7. Vendor Development Programme (VDP) for Ancilliarisation: In order to provide common platform for MSEs, VDPs are being organised by MSME-DIs in every corner of the country. This also provides a platform for large public sector institutions to interact with each other with the aim to identify emerging demands of the buyer organisations, while at the same time to provide an opportunity for displaying the capabilities of the MSEs and their industrial ventures. Such programmes have turned out to be of immense use to locatesuitable entrepreneurs by a number of buying organisations including the Public Sector Enterprises, various wings of Defence, Railways and others in indigenising a number of products which so farhave been imported at high cost.
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8. SSI-Market Development Assistance Scheme: Office of DC (MSME) has been providing opportunity under Marketing Development Assistance Scheme to MSEs for getting an exposure in the International market and exploring the possible export opportunity of their products by exhibiting them through participation in International Trade Fairs under MSME India stall. 9. Advertising and Publicity: The Advertising and Publicity Division of the DC, MSME, is creating awareness amongst the people through Print and Electronic Media about the policies, programmes and activities of the Ministry of MSME for the Development of MSMEs. 10. Laghu Udyog Samachar and Other Publications: Laghu Udyog Samachar, a monthly journal in Hindi and English (bilingual) of MSME, is published to disseminate the updated information for the benefit of the prospective and existing entrepreneurs. Laghu Udyog Samachar is an important window in print for the MSMEs, providing access to the latest information on a variety of topics affecting the operations of MSMEs. It creates awareness and disseminates information on policies and programmes of the Central and the State Governments. It also provides useful information about field activities and carries statistical and economic information as well as articles on various issues pertaining to the MSMEs. 11. Market Development Assistance to KVIC units: KVIC has introduced a flexible, growth-stimulating and artisan-centric Market Development Assistance (MDA) Scheme for Khadi and Polyvastra with effect from 01.04.2010 for implementation. The main feature of this Scheme is that financial assistance (i.e. MDA) will be provided @ 20% of value of production of Khadi and polyvastra (cotton khadi, silk khadi, woollen khadi and Polyvastra) achieved by the producing institution. It is mandatory on the part of the Khadi Institution to pass on 25% of MDA to artisans/weavers as bonus/incentive, in addition to wages in their Post Office/Bank Account. The remaining 75% can be utilised by the producing and selling institutions for various marketing and production-related activities as per norms. The MDA would be claimed by the institutions quarterly on the basis of their production in the preceding quarter.
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12. Product Development, Design Intervention and Packaging (PRODIP): The Product Development, Design Intervention and Packaging (PRODIP) Scheme was launched in November 2002 as a soft intervention with a view to selectively improving the quality of khadi products and also to diversify into new products. It also seeks to improve the marketability of khadi by enlisting the support of professional designers approved by the National Institute of Design (NID). Under this Scheme, financial assistance is provided to the institutions or entrepreneurs affiliated to the KVIC or State KVIBs up to Rs. 2 lakh per project per year or 75 percent of the project cost whichever is less. In the case of individual entrepreneurs, the quantum of assistance is up to Rs. 1 lakh or 75 percent of the project cost, whichever is less. The internal studies conducted by KVIC have indicated that production and sales have increased approximately by 13 percent and 21 percent, respectively, in the case of the projects taken up under PRODIP. 13. KVIC Exhibitions: Besides promoting sale of products of khadi and village industries through its network of Khadi Gramodyog Bhavans (KGB) and Retail Sales Outlets, efforts are made by KVIC to organise a number of exhibitions, in different parts of the country, as a costeffective publicity and market promotion instrument. KVIC has been granted the status of deemed Export Promotion Council (EPC) by the Department of Commerce for availing assistance on the pattern of an umbrella EPC like Federation of Indian Export Organisations (FIEO), participation in international exhibitions/fairs, organisation of buyer-seller meets, etc. The assistance will be as per admissibility under Market Development Assistance (MDA)/Market Access Initiative (MAI) guidelines of the Department of Commerce. Since then 880 units have been registered with KVIC. 14. New Initiatives (i) KVIC developed e-Tracking software for PMEGP to bring in transparency in implementation of PMEGP scheme as well as to create database of PMEGP beneficiaries. (ii) An exclusive web portal is launched by KVIC to showcase the product range of PMEGP units which will enable e-commerce and provide domestic and international market to PMEGP units.
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15. Coir Board a) Market Development: Promotion of the sale of coir products in India and elsewhere is one of the important functions of the Coir Board. The Domestic Market Promotion includes efforts for enhanced sale of coir products through Boards showrooms and sales outlets and also popularising coir and coir products by way of publicity, organising exhibitions in different parts of the country, through audio and visual media, sales campaign, press advertisement and through pamphlets, hoardings, etc. The Coir Board has participated in/organised 98 exhibitions during 2011-12 for popularisation of coir and coir products in the domestic markets. The Coir Board has 30 showrooms and sales depots which also serve as marketing outlets. b) Export Market Promotion: Export promotion is one of the important programmes being implemented by the Coir Board for sustainable development of the industry. Under this programme, the Board in association with trade and industry is participating in major international fairs/exhibitions in a country/product-specific basis, product promotion programmes, catalogue shows, extending external market development assistance to exporters, etc. In these exhibitions, visitors and buyers evinced keen interest in the range of products exhibited. The exporters who participated in these events were able to get confirmed orders. Self Assessment Questions 10. Government agencies and PSUs should purchase _____% of their requirement from MSME units. 11. Coir board is promoting sales of coir products through ______, _____ and _________. 12. The main feature of the Market Development Assistance Scheme of KVIC is provision of ___________ to the extent of ______ % of the value of _________ production. 13. For participating in International exhibitions NSIC is partially providing financial assistance towards __________ and _____.

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4.11 Summary
Marketing is the core activity of a business. The 7Ps of marketing mix are product, price, place, promotion, people, process and physical appearance. Product: Customers buy a product for its various attributes. The producer must understand what the customer is looking for and provide, sustain and enhance the value. Price: They are many pricing strategies. All of them aim to capture or expand the customer base. The factors that influence pricing strategies are consumers, competitors, cost, channels and government. Place: Distribution is the key element in marketing that enables the product to reach the customer. It is important to build an effective delivery channel so that the customer is served well without experiencing any delay, difficulty or dissatisfaction. Promotion: Promotion is the bridge between the product and the customer. Promotional activities targetconsumer, tradeand sales force. People: The persons with whom the customer interacts determine the quality of customer experience. So people need to be trained in the art of selling and customer service. Process: A sound system must be in place to deliver customer satisfaction consistently. Physical appearance: A good ambience is a necessary adjunct for attracting customer to ones retail outlets. Government has taken various steps to help MSMEs in marketing their products. These include reservation of products for manufacture by MSMEs, arranging trade fairs, providing training and testing facilities, access to raw materials, facilitating exports, etc.

4.12 Glossary
Ancillary Categories: Depending on the type of end products, small scale units may be divided into two distinct categories; (i) small units producing finished goods for catering consumer needs and directly marketing such goods through their distribution channels; (ii) small units producing parts and components for catering to the input needs and
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requirements of other industries. Industries falling under category (ii) mentioned above are called ancillary units since such units rely for marketing of the products on some other industry or group of industries. Ancillary status also depends on the proportion of supply to industrial units. When an industrial establishment manufactures and supplies more than 50 percent of its production to any one or more parent units or units, the former unit is termed as an ancillary provided its investment in plant and machinery does not exceed Rs. 45 lakhs and it is not a subsidiary to or is controlled by any large scale units. Consortia: An association or a combination, as of businesses, financial institutions, or investors, for the purpose of engaging in a joint venture. Marketing Mix: A mixture of several ideas and plans followed by a marketing representative to promote a particular product or brand is called marketing mix. Several concepts and ideas combined together to formulate final strategies helpful in making a brand popular amongst the masses form marketing mix. Tender marketing: This is a process where a purchasing organisation undertakes to procure goods and services from suitable suppliers. Due to the high value of some purchases (for example buying a new computer system, manufacturing machinery, or outsourcing a maintenance contract) and the complexity of such purchases, the purchasing organisation will seek to obtain a number of bids from competing suppliers and choose the best offering.

4.13 Terminal Questions

1. What do you mean by marketing mix? 2. List some of the main values a customer looks for in different types of products 3. Explain the various factors that affect pricing decisions. 4. What marketing assistance does government provide to small enterprises?

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4.14 Answers
Self Assessment Questions 1. Product, price, place, promotion, people, process and physical appearance 2. Quality, safety 3. True 4. False 5. Convenience to customer and minimal cost to manufacturer 6. Consumer, trade and sales force 7. Customers 8. Irritants 9. Last 10. 20% 11. Showrooms, sales outlets and exhibitions 12. Financial, 20%, khadi & polyvastra 13. Rent of stall, airfare for travel Terminal Questions 1. Marketing mix" is a general phrase used to describe different kinds of choices organisations have to make in the whole process of bringing a product or service to the customer. Refer Section 4.2 for details. 2. Some of the values a customer looks for in different types of products are brand name, functionality, quality, safety, packaging, spares and accessories. Refer Section 4.3 for details. 3. Factors affecting pricing decisions are consumers, competitors, cost, channels and government. Refer Section 4.4 for details. 4. Government has taken various steps to help MSMEs in marketing their products. These include reservation of products for manufacture by MSMEs, arranging trade fairs, providing training and testing facilities, access to raw materials, facilitating exports, etc. Refer Section 4.10 for details. References/ e-references:

Findlay Schenck, B (2005), Small Business Marketing for Dummies, Second Edition, Wiley Publishing, Inc, New Jersey.

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Kotler P and Ketler K (2009): Marketing Management, Pearson Education, Inc, USA. http://msme.gov.in/MSME-Annual-Report-2011-12-English.pdf http://socialmarketingtoolbox.com/sites/default/files/CIM%207Ps%20Resource.PDF http://www.thehindubusinessline.com/opinion/columns/b-sraghavan/article3284471.ece http://www.executivetravelmagazine.com/articles/why-happy-employeesdetermine-your-success http://money.cnn.com/magazines/fortune/fortune_archive/2006/04/03/83 73034/index.htm http://www.scrum-system.com/visitex.html

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