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Points to consider for creating a successful SME.
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BusinesstoBusinessMarketing:Session3-4GuestSpeaker:Mr.PratikPashineMr. Pratik Pashinewas invited as the guest speaker for discussing “CreatingA SuccessfulSME”.Mr.Pashine,anIndianInstituteofManagementBangaloreAlumniiscurrentlyworkingwithTataTeleservicesLimited.HetalkedaboutthefollowingpointswhichwererelatedtoBusinessperspectiveofSMEs.
• The session was crafted well to cover important aspects for SME business. ThediscussionstartedoffwithhowSMEsarebeingclassifiedbeingbasedonnumberofemployees,turnoverorrevenue,buttheimportantfactoristherearealsocompanieslike watsapp which contradicts the numbers on basis of which SMEs are beingclassified. He also reflected on how there has been a shift in the ownership,demographics,influenceofemployeesinthenatureofbusinessforSMEs,wearenowdealingwithamuchyoungergenerationwhoarehandlingthecompanies.
• ChallengesonsellingproductstoSMEsmaybeparamountduetosheerROIduetosmallticketlargeexpectation,unstructureddecisionmaking,geographicaldispersionofbusiness.
• Howtheinformationwhichwasonlylimitedwhenanalyzinganycompetitor,productoranycompanyisavailabledigitally.
• As the companymoves from small tomedium to large how due to availability ofexpertisethecompanyisabletoevaluateanyproductinamuchbetterway.
• AnyRetailbusinessorLargebusinesscannotserveneedsbytweakingtheirproductswhichneedstobefulfilledbySMEsduetoSKUs,requirement,delivery,complexity,service,financing,expertise,obsolesceetc.
• Sincethecustomersarespreadgeographicallyinadiverselocationitisveryimportantfor SMEs to have a partner model which can address a considerable share ofcustomers.SMEssuccessdependsonhowthechannelpartnerarebeingmanaged.
• SMEs not only needs to understand and cater to the needs for partners but alsoprovidethemopportunitytogrowandmoveaheadwiththeirestablishments.
• Oneofthemajorpointdiscussedwastheacquisitionvsretentionofcustomer.
Therewerealsonumberofquestionsfromaudience.Overall ithasbeenagreat learning
curveofgettingtoknowbusinessandmarketingaboutSMEsindepth.