Abstract
Globalisation is a phenomenon that has brought many international companies and franchises to India. These companies have steadily overthrown a lot of small local businesses and have taken over the Indian market. The study on the above mentioned topic deals with the plight of small businesses due to the aggressive marketing of big brands. It can be said without a doubt that global companies have an upper hand in the market when compared to local businesses due to their brand names and skilful marketing. The research focuses on the diminishing rate of demand for local products and increasing preference of consumers towards high-end brands and compares the marketing tactics used by global franchises to that of the regional businesses. This paper discusses the various issues small firms face while undertaking the process of marketing their products or services and aims to come up with feasible ideas to be on a par with global franchises.
Suggestions
1. Social media marketing- As small businesses have a low profit margin to afford mass media advertising, they could promote their products through various social media sites and have more people get to know about their products or services.
2. Feasible promotional activities- Promotional activities such as distribution of pamphlets or brochures to the shoppers around.
3. Value added services- Businesses can perform services like alteration or modification of the product.
4. Creativity: Creative promotions such as themed or colour co-ordinated displays, “outfit of the day” or “today’s special” placards will surely attract customers.