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Marketing

Entrepreneurs in developing countries face significant marketing challenges due to a lack of knowledge and resources, which hampers their ability to compete against larger businesses. These challenges include difficulties in advertising, understanding customer needs, and overcoming cultural barriers. Possible solutions include empowering youth with entrepreneurial skills and improving small business marketing knowledge through training and support.

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6 views7 pages

Marketing

Entrepreneurs in developing countries face significant marketing challenges due to a lack of knowledge and resources, which hampers their ability to compete against larger businesses. These challenges include difficulties in advertising, understanding customer needs, and overcoming cultural barriers. Possible solutions include empowering youth with entrepreneurial skills and improving small business marketing knowledge through training and support.

Uploaded by

mrtbsekati
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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 Challenges faced by entrepreneurs in

developing countries

Guidelines :
Why does this specific challenge exist?
How does it affect entrepreneurs?
Possible solutions put in place to combat this
challenge.

MARKETING
 Marketing is a social and managerial process
whereby individuals and groups obtain what
they need and want through creating and
exchanging products and value with others
Kotler and Armstrong (2001)

WHY DOES THE SPECIFIC CHALLENGE EXIST?


 Carlson (1991) stated that in marketing
conditions, small business enterprises have
numerous challenges because of their lack of
knowledge for the proper technique related
with procedures in marketing.

HOW DOES IT AFFECT


ENTREPRENEURS?
 Baker (1979) and Doyle (1985) classified lack of marketing
orientation as a major factor for failure in business. An
entrepreneur that does not have the skills or the ideas
about marketing in business tends to face marketing
problem. According to Gwen (2003), ability to cost
effectively, advertise and actual selling are two top
problems in marketing area. Among other problems in
marketing for an entrepreneur are developing a market
plan, identifying new opportunities, branding the firm,
competition from large businesses, getting positive
publicity, identifying the customers, implementing
marketing strategies, understanding the customer,
overcoming negative perceptions, effectively networking,
getting business from large corporation, getting the
decision maker, and developing new products and services

HOW DOES IT AFFECT


ENTREPRENEURS IN
DEVELOPING COUNTRIES?
 Entrepreneurs experience marketing problems and the major
problem is standardization and competition from the large scale
units. These large scale units also create difficulty for the survival
of new ventures as they have limited financial resources and are
bounded for spending limited finance on sales promotion. The new
ventures have to come up with new advertisement strategies so
as can be easily understood by the rural people. Also the printed
media have limited scope in the rural context. The traditionally
bounded nature, cultural backwardness and cultural barriers add
to the difficulty of communication where people in rural areas
mostly communicate in their local dialects and English is not
understood by many people. Also, the rural entrepreneurs are
heavily dependent on middlemen for marketing of their products
who demand large pocket for profit. Besides this the indigenous
methods of storage are not capable of protecting the produce from
dampness, weevils etc. because of which the agricultural goods
are not standardized and graded. (Monika Sharma et al., 2013)

POSSIBLE SOLUTIONS THAT


CAN BE PUT IN PLACE TO
COMBAT THIS CHALLENGE
 (a) Giving Youth an opportunity. Everybody has
latent entrepreneurial skills. They only need to
be activated and facilitated. To empower young
people as entrepreneurs, motivate them and
assist them market their products locally and
internationally. Government should understand
that to start and to continue to operate an
entrepreneurial venture requires people with a
tremendous amount of determination, effort
and commitment, more than is needed for a
conventional career. (Kaburi et al.)
 (b) Carlson (1991) further advised that the
knowledge and strengthening of small business
marketing will benefit from factors like attitude
and personality of the owner manager, also the
inbuilt pliability and efficiency of small
business management.
 REFERENCES:
 Baker, M. (1979): Export Myopia, Marketing,9(4).
 Carlson, D. (1991). Research into small business
marketing. European journal of Marketing, 9,
75-91.
 Doyle, P. (1985). Marketing and Competitive Performance
of British Industry Areas for Research, Journal of
Marketing Management.
 Gwen, R. (2003). Problems Entrepreneurs Face:
Researching Small Business and Entrepreneurship. Bridg.
 S. N. Kaburi, V. O. Mobegi, A. Kombo, A. Omari and T.
Sewe. ENTREPRENEURSHIP CHALLENGES IN DEVELOPING
ECONOMIES: A CASE OF KENYAN ECONOMY. Jomo
Kenyatta University of Agriculture and Technology, Kisii
CBD, Kenya E-mail: [email protected]

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