Last decade of last century began with economic reforms in 1991. Now in 2010, the result? A long time but well planned process that made India a country with a high growth rate after China. Contribution of Indian SMEs to this phenomenon cannot be overlooked. Whether you take any statistical figures for percentage share in GDP, export, employment and comparative growth rate, SMEs are doing a good job. On the other side, there are always everyday stories about SME units finding deep trouble in competition with corporate and MNC brands and business in every sector. With the change of time, Indian SMEs need to change themselves for growth and survival also.
 

Small and medium businesses often face a variety of problems related to their size and formation. Another problem for many SMEs is the capacity of much larger businesses to influence or sometimes determine their chances for success. Another problem for many small businesses is termed the 'Entrepreneurial Myth' or E-Myth. The mythic assumption is that an expert in a given technical field will also be expert at running of business. Today, business is marketing. Additional business management skills are needed from SME owners to keep a business running smoothly.
 

Let us have a quick look at the paradigm shift in business, marketing and customers that have taken place in last few years.

So, the change is visible. Customer has changed. Competition has increased many folds. If you always do what you have always been doing, then you will end up doing nothing new. So pull up your socks and don't just do what you want to do. Take stern actions intended to hurt your competitors. Because that's not just one of the many options you have...it's the only option to take you to the top. Wake UP!
 

Now, is the time to take action, to redefine your art of doing business. Go with the winds. Identify customer needs. First find out who your customers are and who are not? Try to know answer why your customer buys your products? Understand what your competitors are doing, not just what they are saying, set up internal missionary to act, but act fast. As SME, you have tremendous advantage to react quickly to any situation compared to large corporations.

You have guts and ability to take decisions. Strike before competitor does. Keep a constant tab on technology in your field, innovations taking place, price war, emerging new applications, opening up of new markets, global competition on one hand and on other side, threat from large corporations and genius marketing techniques and power packed marketing strategy implied to create, grow, sustain and win the market. Do internal planning, set up missionary to fight with external forces, find out your own USP and last but not the least change your attitude towards business from simply making profit to making relationship.

It is observed that most Small and Medium Enterprises (SMEs) waste their time thinking about what they did last week, month or year when they should instead be thinking about what they need to do tomorrow. My advice for these SMEs would be: instead of spending valuable hours analyzing results, put your energy into developing future market strategies, and in identifying how you can position your business as a market leader. Now is the time. Get UP!
 

Common marketing techniques for small business include networking, word of mouth, customer referrals, yellow pages directories, television, radio, outdoor (roadside billboards), print, email marketing, and internet. Electronic media like TV can be quite expensive and is normally intended to create awareness of a product or service. Many small business owners find internet marketing more affordable. Advertising in niche media and magazines can also be effective. Social media has proven to be very useful in gaining additional exposure for many small businesses.
 

Contrary to what SMEs usually think, advertising is not marketing, but a part of it and both non-tangible components, SMEs preferred all these time to stay away from investing into marketing, advertising and branding. Branding for SMEs should actually be about getting one's prospective clients to view the SME as the only solution provider to its problems. SMEs should understand that a good brand will deliver the message you want to convey clearly and thus confirm your credibility. A good branding strategy will also connect your target prospects emotionally and will motivate the buyer and thus cement user loyalty for future deals.
 

Lost in the crowd? Get yourself an effective marketing and branding strategy. This is what the doctor will prescribe for an ailing SME. To keep one's business ahead of competition, one needs to develop marketing strategies smartly. Certain activities in businesses including competitive pricing, promotional strategies, advertising, quality consciousness, innovation, after-sales service, distribution network and sales force, etc. need to be focused on.
 

It is seen several SMEs cutting costs and trimming corners to maximize their gains without even thinking that doing so weakens one's ability to execute and thus eliminates resources to do new things. Smarter companies on the other hand, recognize the opportunity to pounce on customers and take away business during weak market dynamics.
 

Ideally, SME should approach an expert in business development and marketing to discuss problems in marketing and find solution. In fact, marketing is like a vitamin for business and if SME owners understand it, they need to have a periodic check up on ROI in marketing. Before, starting a new project, investing further into ideas, setting up production and making tie ups, it is must in today's business environment to go for reality check up. One thing is sure with the current business on or new business in pipe, it is recommended to have a marketing Check Up!