Future of marketing : comparing the marketing of small and large businesses
Peltola, Oskari (2019)
Peltola, Oskari
2019
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2019060214015
https://urn.fi/URN:NBN:fi:amk-2019060214015
Tiivistelmä
The objective of this thesis was to collect information on current and future marketing trends, as well as to compare how the marketing customs and their use differentiate between small and large businesses.
The data was collected by conducting a semi-structured interview, that collected data from three retail businesses that work within a same city that has the population of roughly 50 000 people. Off these three businesses, two are small businesses and the remaining one a large business.
The respondents stated that the ongoing trend in marketing for both small and large businesses is that the use of traditional marketing will continue to fade as the popularity and effectiveness of digital marketing keeps improving. The main difference in marketing when comparing small and large businesses is the limitation brought about by business size. Small businesses are largely limited by their budget and effective manpower, but they’re better equipped to adapt and make flexible situational decisions. Large businesses on the other hand are better equipped to use all modern marketing possibilities to their maximum capability, however the existing operating models and systems make adapting and making changes a challenge as everything old needs to be either integrated with the new, or completely replaced.
Furthermore, both small and large businesses need to be increasingly aware of current and future trends in digitalization. As traditional forms of marketing begin to slowly disappear, either a new revolutionized form of traditional marketing, or a completely new digital alternative will take its place. Modern businesses will have to do everything in their power to keep up with technological evolution and innovation in order to track future trends and consumer behavior.
The data was collected by conducting a semi-structured interview, that collected data from three retail businesses that work within a same city that has the population of roughly 50 000 people. Off these three businesses, two are small businesses and the remaining one a large business.
The respondents stated that the ongoing trend in marketing for both small and large businesses is that the use of traditional marketing will continue to fade as the popularity and effectiveness of digital marketing keeps improving. The main difference in marketing when comparing small and large businesses is the limitation brought about by business size. Small businesses are largely limited by their budget and effective manpower, but they’re better equipped to adapt and make flexible situational decisions. Large businesses on the other hand are better equipped to use all modern marketing possibilities to their maximum capability, however the existing operating models and systems make adapting and making changes a challenge as everything old needs to be either integrated with the new, or completely replaced.
Furthermore, both small and large businesses need to be increasingly aware of current and future trends in digitalization. As traditional forms of marketing begin to slowly disappear, either a new revolutionized form of traditional marketing, or a completely new digital alternative will take its place. Modern businesses will have to do everything in their power to keep up with technological evolution and innovation in order to track future trends and consumer behavior.