FORMAT: Deficiencies Model
PARAGRAPH # STAGES OF THE INTRODUCTION REWWRITTEN INTRODUCTION (in paragraphs)
1 Establishing the research problem Businesses always have to look for ways to improve profitability. The
leading to the study question remains open on how to make profits grow exponentially. Every
business owner wants to increase the sales revenue, but he is faced with a
number of barriers. These barriers can be overcome by applying various
marketing strategies. In today's uncertain global economy, many small
businesses are asking two questions as they look forward to the future:
How do I grow my company and how do I maintain profitability? In order to
answer these questions, you need to consider all aspects of marketing that
you employ, including your customer communication program, processes
for acquiring new customers, and ways of supporting repeat purchases.
Marketing is a very critical aspect to the success of a business entity. The
right marketing techniques and strategies implemented well can lead to a
thriving business. The wrong ones can certainly ruin it.
What is the impact of marketing strategies on the profitability on small
businesses? This research paper seeks to establish what is the relationship
between the marketing strategies and profitability on small businesses. It
seeks to answer whether or not marketing strategies used by businesses
have an effect on their performance, and how they can contribute to their
profits. It will help to understand the impact of different marketing strategies
on profitability, how it help small businesses and provides info on how some
of the proven marketing strategies have an impact on profitability.
2 Reviewing related literature about Many studies have been conducted to determine the impact of marketing
the literature strategies on the profitability of small businesses. The aim of this research
is to gather and examine the related literature about the impact of marketing
strategies on profitability, in addition to how it is helpful for small
businesses. Literature shows that as marketing becomes a popular
phenomenon, many researchers in different areas focus their attention on
marketing activities, business processes , and achieve improving results.
Among the most important things for a business is to determine what
marketing strategy best suit their business. By choosing the right marketing
strategy, one can expect more profit and success to your business
(Morgado, 2014). However, there are many strategies that can be
implemented which can lead to more profit and if you don’t determine what
is right for your business then it can be detrimental (Praba, 2016). By
analyzing various literature provided on the impact of marketing strategies
on profitability will allow one to better understand what strategies help in
achieving greater profits. One reason why a company should consider
implementing a marketing strategy to their small business is so they can
reach new markets and expanding sales outside of their local area. This will
allow for businesses to expand as well establish further brand awareness
(Praba, 2016). Another reason a business should have a marketing strategy
is to help maintain or improve their competitive advantage over the years.
The implementation of a marketing strategy allows this competitive
advantage to keep growing and sustain over time.
3 Deficiencies in the literature about The research problem addressed in this study is whether marketing
the problem strategies used by small businesses have an impact on the profitability of
firms' operations. There are several reasons why the need to address this
research problem. First, while many small businesses recognize the
importance of marketing to their organizations and view it as an investment,
most small business owners lack knowledge of how the marketing function
drives profitable operations. This deficiency leaves owners with poor
guidance for planning and executing their marketing activities. Also, most
small business owners do not consider that creating effective marketing
programs could lead to greater profitability because they believe that sales
volume and profit are mutually exclusive objectives; hence, businesses can
benefit from emphasizing either sales volume or profit depending on their
objective.
This research approaches the problem of the impact of marketing strategies
on profitability on small businesses from a different perspective. It
comprehensively analyzes the key deficiencies in the literature and fills the
gap through an analysis and discussion framework. The literature discussed
shows that marketing strategies have great impact on enterprises'
performance, but also have significant shortcomings in explaining this
influence. That is to say, only a series of methods based on marketing
strategies or some other factors are used to explain the impact of marketing
strategies on enterprises' profitability without integrating with the theory.
4 Establishing the significance of the Impact of marketing strategies on profitability on small businesses is one of
study for the target audience the biggest concerns of the present day business environment. Research
reveals that due to ever fluctuating economic climate, small firms are more
inclined towards adopting different marketing strategies to increase their
sales and improve the overall financial performance. In order to reach the
target audience, it is vital that information regarding emerging trends in
management and areas of strategic importance to small businesses can be
explained properly to all stakeholders.
The significance of the study for the target audience is that it gives an
understanding to those small business owners who are thinking of starting a
business whether they should take the risk. For example, if profit is curbed
by marketing strategies, then it is strongly advised not to take the risk as
there are so many challenges faced by small business owners that they
cannot afford to sacrifice one of them. By studying this paper, small
business owners will understand their marketing challenges and also the
challenges faced by their competitors and in turn will benefit from this
information.
5 Identifying the purpose of the study The purpose of the study about impact of marketing strategies on
profitability on small businesses is to discover how different marketing
strategies affect small businesses in their profitability. Nowadays we can
see different perspectives on marketing and its place in the strategic
management. Marketing is seen as a financial tool that is used by marketer
to align business with its customers/markets. To show that the size of the
business doesn't always matter. It is based on small businesses whose
primary purpose is to make money. Marketing basically depends upon
marketing research, planning and implementing a suitable marketing
strategy for small businesses.
