CHAPTER ONE
INTRODUCTION
1.1. BACKGROUND OF STUDY
In a very competitive business and unstable economic situation, many small businesses wind up due to many problems they face in their day-to-day business operations. This has raised a lot of controls, monitoring and forecasting measures as well as the need for businesses to re-orient their business model and operational strategies into a more adaptive model instead of a reactive model. As explained by Foster (2002) that, as the world must have been created by a planner, there was strategy for launching the planet earth of which people were required to respond to their environment as well as react to changing challenges they face. According to him, survival was the dominant motivation for most of the people most of the time, and this is applicable to the people in small business operation today. Marketing of convenience product is what small business operators intend to achieve at some point in time; these are often stated in competitive terms. To sustain a business goal is therefore the condition where a business consistently achieves what it set out to achieve so as to succeed and remain in business especially the marketing strategies involved. Typical marketing of convenience products for small businesses may include survival, growth, customer satisfaction, creating outstanding value for customers and other stake holders, developing new product lines and service offerings, profitability, reduced operating cost and developing a great company amongst others. In other words, these are typical aspirations for the present and the future whose outcome could well be difficult to achieve due to recurring economic challenges. Many small business operators agree that these challenges are by all means factors that impede businesses from achieving and sustaining their goals. We consider alternative choices of business operation for the coordination of business activities towards achieving the desired business goals through marketing strategies. The marketing strategies in small businesses are from service provider’s perspective as well as customer’s perspective. Marketing strategies are not one time process but a varied and unique action which is prominently necessary to revise year by year to attain predetermined objectives. Whether the turnover from marketing convenience product is huge or marginal, marketing strategies are applicable and advisable in case of every small, medium and large enterprise. Marketing strategies involved in small businesses are quite comparable and measurable in nature so aected by market fluctuations and trends of business cycle.
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