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Small Business Marketing Strategy
Exploring Marketing Strategies for Small Businesses in the United States
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According to the Small Business Administration, there are approximately 23 million small businesses in the United States. Over 86% of businesses have no more than 20 employees, although the total number of people employed is approximately one-fourth of the entire United States workforce. Nearly 50% of all small businesses close within the first five years. The general problem in small business marketing is that business owners have product or service knowledge but struggle with marketing. The purpose of this qualitative case study was to understand the decisions and actions a small business owner takes when pursuing marketing strategy. Five findings emerged from the in-depth interviews: marketing, formulating strategy, strengths, values, and needs. The small business owners indentified marketing as the most important theme, and although they did not feel they were marketing, all owners were involved in informal or formal networking and building long- term relationships. One significant finding is that small business owners formulate strategy for 6 months or less, which does not include long-range planning.
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