Marketing for Entrepreneurs and SMEs

Marketing for Entrepreneurs and SMEs

A Global Perspective

Maja Konečnik Ruzzier, Mitja Ruzzier and Robert D. Hisrich

In recent years, entrepreneurs and SMEs have been forced to adapt to a rapidly changing, increasingly globalized world, an evolution that has had a profound impact on marketing strategies. This timely volume identifies the many new opportunities available to entrepreneurs and SMEs in the global marketplace, and offers tactical and strategic marketing approaches to help them succeed in the modern business world.

Chapter 8: Target marketing: segmentation, targeting and positioning

Maja Konečnik Ruzzier, Mitja Ruzzier and Robert D. Hisrich

Subjects: business and management, entrepreneurship, international business, marketing


I inherited a house in an excellent location in the city center about 15 years ago. The main question was what to do with it? I had always dreamed of either renting, selling or starting my own business. At that time, I was not satisfied with my job, so opening my own business was an excellent opportunity for change. I decided to open my own bakery. Initially, we were offering just ordinary types of bread like rolls and loaves of bread in two or three varieties of flour – wheat or corn. We sold our products to walk-in consumers as well as to certain restaurants, grocery stores and schools, but soon we noticed the changes in market demand and the necessity of specialization in our industry. The first dilemma was whether to open a wholesale or retail bakery. While a wholesale bakery required investments in delivery trucks and services and new, more efficient production equipment, a retail bakery required a new, fancier store and interior and extension of our product range adapted to a specific range of consumers.

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