Study on Development Strategies of a Small and Medium-sized Enterprise in Dynamic Environment

Abstract

The role of SMEs in promoting economic prosperity and solving employment has become increasingly evident. In the large-scale trade of industrial products, SMEs can also play their unique role and form a new impetus for economic development. SMEs are highly permeable, flexible and innovative, and can meet social demands from a more nuanced perspective. SME development is also a very valuable research topic. This paper is based on a small and medium-sized industrial enterprise, through the study of its development, sort out strategies suitable for SMEs. It provides theoretical guidance and practical reference of the development strategies for innovative SMEs, and promotes the sound development of SMEs. However, the survival and development of SMEs must first solve the marketing problem. Without purchase order, everything cannot be discussed. SMEs must avoid weaknesses and create innovative business models. Through market-based strategies, they can do market segmentation, market selection, and market positioning. Combine with product strategies, price strategies, channel strategies, and promotion strategies, they can survive in the gap between large companies; and to meet the special demands of customers and achieve sustainable development. In this paper, Company A is selected as a research case. As a small and medium-sized industrial trading company, company A is different from an industrial product manufacturing company. It faces greater pressure for survival in the fierce market competition but also has a wide range of opportunities for development. My work further clarifies Company A‟s market positioning and strategy selection, hoping by analyzing Company A's target-oriented markets and target market strategies to demonstrate Company A‟s 4P combination strategies including quality, service, brand and new product of Product strategy; going-rate, perceived value, market penetration, price mantissa, special customer, quantity discount and cash discount of Pricing strategy; conventional channels, website, social platform, local cooperation, channel member and international marketing of Place strategy; personnel promotion, network promotion, public relations and advertising of Promotion strategy. In order to guarantee the implementation of the development strategies of Company A, supporting measures are proposed by my work in terms of resource advantages, organizational structure, information management, financing channels, team building, and corporate culture. It also points out that SMEs face great opportunities for development. SME‟s development strategies should focus on customer value, continue to innovate, and make a good integration between products and markets.