Role of Relationship Marketing in Small and Medium-Sized Entreprises

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Role of Relationship Marketing in Small and Medium-Sized Entreprises

Authors
Publisher
Faculty of Economics and Business, University of Zagreb
Keywords
  • Marketing
  • Relationship Marketing
  • Mala I Srednja PoduzećA
  • Marketing Odnosa
  • MrežE
  • Small And Medium-Sized Enterprises

Abstract

Along with marketing, small and medium enterprises (SMEs) are commonly associated in literature with relationship marketing which results in marketing networks. This paper examines the specific characteristics that differentiate large companies from small and medium-sized enterprises, and the reasons that prevent SMEs from engaging in traditional marketing within the scope of marketing mix. The paper also shows that the key characteristic which distinguishes small from large companies is a prominent role of owner/managers. The owner/manager affects marketing of SMEs by creating his or her own personal networks with stakeholders in the environment, and considers it an important strategic focus and a factor that increases the performance of marketing decision-making. After a thorough review of secondary data sources this paper examines relationship marketing as a marketing framework for SMEs and, finally, proves that relationship marketing is more appropriate for SMEs than are traditional marketing concepts, that relationship marketing and network marketing create an important framework for SMEs and that there is a link between relationship marketing, personal networks and SMEs.

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