Report on Marketing Research on Problems and Challenges Facing Small and Medium-Sized Enterprises in Kuwait

Table of Content

Introduction 3

Increased competition 3

The ability to adapt to rapidly changing market demand 4

Bad Marketing strategies: 5

Technological change 6

Capacity Constraints Relating to Knowledge, Innovation, And Creativity 7

Lack of resources 7

Higher transaction costs relative to large enterprises 8

Lack of networks 9

Increased market competition 10

Lack of Entrepreneurial Capacity 10

Inability to compete against larger firms 11

The remedies suggested by the entrepreneur 12

Remedies for overcoming these challenges 13

References 15

Introduction of Marketing Research on Problems and Challenges Facing Small and Medium-Sized Enterprises in Kuwait

SocialFirms in Kuwait Social media is used to idealize the customer’s intentions towards any brand. As this is an era of using digital media for any useful information so social media is the best platform for this. For brands awareness and comparing it with each other most people uses social media now days. The problems occur when there came any new competitor in the market. (Stephen, 2015) 

The consumers mostly leave a feedback about the product he has used on social media platform that may be negative or positive too. This may be in favor or against the brand if customer does not become honest with the review. This indicates new customers towards a brand that whether they should buy it or not. These reviews will act as a suggestion for new consumers. (Koch, 2011). There came another problem of testing the brand product physically as we do not check it or test it on social media platform. 

The performance demonstration is very important as people do not just believe on the things they are seeing. They believe in practical implementation of the things as they are going to spend money on their things.  The proper performance demonstration is also very much important as it provides customer a decision sense to make that whether they should choose this or not. Social media marketing does not provide practical performance demonstration because of which people often have minimum trust factor on the products branded through social media. (Jayasuriya, 2017)

On social media sites a common scam use to happen that someone may create a fake account by any fake name of person, brand, product and business nature and start demotivating the content of that specific thing and try to make a false impression of it on the people. This thing is common and it is very bad as one cannot be able to know that who is fake and who is real. This problem is faced by every person who is doing a promotion on social media from its competitors. Social media sites as are using mostly for promotion purpose; they are also creating trust issues for the people from their competitors as well. Some identity management practices and procedures must be utilized in order to avoid this issue on social media marketing (Basu, 2019).

Throughout research and general study about industries is worth to be utilized if not utilized properly then, this thing becomes out of control sometimes as there are many of the users working on social media Marketing to get More traffic and attraction of customers towards them. Too much competition is present there and hence new marketers have to work hard in terms of making their product more highlighted among others already having a great place on social media by having too much traffic of audience towards their products and services. Directly consumer-to-consumer communication cannot be controlled in such way and hence according to organization’s missions and goals they have to shape their communication and customer attraction strategy. (Donvitoc, 2016)

Increased competition of Marketing Research on Problems and Challenges Facing Small and Medium-Sized Enterprises in Kuwait

Purchasing intentions of customers depend on the affordability of money they earn. Therefore, branding promotion helps them in making an idea that what thing they should purchase that will not become hard on their pocket. The purchase intention of customers if according to their pocket then they feel comfortable in purchasing products. Taking care of purchasing intentions of a customer is very important as they are the one who buys the products and makes you earn money. Social media purchases are a trend now a day and hence this can be more profitable if social media provides them with best options with ease of having products at their home with just one click with the great quality they wanted to have ( Füller , 2013). 

It also includes how the social web going to perform their task to achieve the attention of more viewers. the usage of social media and its usage in the business activities are going to be a particular discussion because the idea is going to change completely related to marketing and consumer information flowing, the most important element is marketing that we have done on daily basis. Basically, marketing is the representation of any object that attracts other people and they come and buy that thing with their own willingness (evans, 2010). 

The ability to adapt to rapidly changing market demand

In this article, the author Irem says that for marketers, one of the most important and central themes is to maintain and build brand loyalty in a long time. Different means are used to maintain the loyalty of a brand in front of its customers. The most important mean in this regard is social media. Most of the time, after the marketing of the product, the customers want to get information related to product and they are going to ask different questions related to product to check the quality of the product, is product fulfill their demands and requirements or not, what are the benefits and advantages of the product and many more. This type of regression analysis makes a clear image of the product to the brand loyalty effects the customers positively when it offer advantageous campaigns, appears o many platforms and offers applications on social media, offer relevant content and popular content (Glos.ac.uk, 2018). 

Bad Marketing strategies of Marketing Research on Problems and Challenges Facing Small and Medium-Sized Enterprises in Kuwait:

The demand of the consumer can be change through various factors like the preference of alternate product, price of the product, taste and also affected by the income of the consumer. Brand loyalty is also important to factor in purchasing intention of the consumer because when they are consistently purchasing the same product then they don't want to change their usage with any other alternative. On product marketing, the brand name has great impact and consumer also prefers those products who are related to famous brands. The personality of brand related to self-expressive benefits and with brand emotional. The product quality includes all those features in the precut that make it famous and attractive for the customers and advertisement going to occur on the basis of that quality of the product. (NAEEM AKHTAR, 2016)  

Technological change of Marketing Research on Problems and Challenges Facing Small and Medium-Sized Enterprises in Kuwait

Social media marketing helps people to idealize about new brands by just sitting at home that what the latest trends are leading in the market. Advertisers have produced their own content according to their product, make it more attractive and can be shown to millions of people on social media. Social media also presented in different types like; virtual worlds (second life), forums, review sites(yelp), social bookmarking and voting sites (dig, Reddit), media sharing site (YouTube), social networks (face book), micro blogs(Twitter) and blogs. The power of social media going to represent with the huge diestrum websites. With the usage of such sites, the idea of new products, user lines, and comments on new products and votes related to new products can be clearly explained that show the popularity of products with the reviews of consumers. (Zarrella, 2010)

In this article, the author Nina and George say that there are many tools that are using to provide support to the business to business brands that include many interactive technologies with the support of the internet. The usage of social networking sites that use in the organization to obtain the brand objectives are very limited and organization give more focus on the social networking practices with their usage, perceived barriers and effective measurements and consider them as marketing tools. In the UK most businesses use social networking sites to promote their brands and achieve their objectives related to brands. And make a strong relationship with existing customers and also make new customers for their products. (NinaMichaelidou, 2011)

 Most of the time customers share funny contents, share music and technology related content on the platform of social media. So the brand loyalty is depending on the performance and response of customers because if the customers are satisfied with the results of the products then they show a positive attitude towards the product next time and they also promote the product with their personal experience. Brand loyalty develops with the passage of time and after making it strong the customer's nerve moves to any other product because they present strong loyalty and this will build strong links between customers and organization that emphasis on the trust factor. (İrem ErenErdoğmuş, 2012)

Capacity Constraints Relating to Knowledge, Innovation, And Creativity

In this article, the author Walfried Lassar says that for consumer goods and services, brand equity is a very important factor. In the effectiveness of brand introduction and brand extension, the brand equity going to facilitates. Customers are willing to try to adopt the brand's extension those have trust and display towards a brand. To determine the financial value of brand equity, many methods are given but customer-based brand equity measurements are not present. A scale must be presented to show the customer based brand equity and five dimensions are presented in this regard to explaining the customer based brand equity that our a commitment, trustworthiness, social image, value, and performance   (lassar, 2013)

In this article, the author Cathy and Cynthia say that for marketing management, the issue related to brand equity is very complicated. The brand has its own value and its effects that presented after details study of a brand. On consumer preferences and purchase intention, the effects of brand equity must be presented. It means that purchasing of the brand completely depends on the brand equity that how much it provides best services of goods to customers. Two sets of brands are tested for comparative purposes, one from a generally lower risk product category and the second form is a service category characterized by fairly high financial and functional risks. 

Each set of the brand include two more brands that have the same objectives but over the past decades, they have different invested markedly on spending advertisements. And those brand that has a high level of budget related to the advertisement, that brand must be considered a high level of equity. And all those brands that have high equity must be show high preferences and high purchase intentions must be presented for the high equity brand. So it can be explained that the brand equity also different with the investing point of view and furthermore the advertisement point of view is very much different because that is going to be more famous whose advertisement is very high as compare to others and those who have less advertisement they are less famous among the customers. (Cathy J. Cobb-Walgren, 2013) 

Lack of resources of Marketing Research on Problems and Challenges Facing Small and Medium-Sized Enterprises in Kuwait 

In this article, the author David says that in management, brand equity becomes very famous. A thing that is going to be produced in the factory is to consider a product whereas the brand is a thing that purchases by customer’s brand cannot be copied but the product can be a copy by anyone. A brand is unique and successful for timeless. Brand equity means a collection of assets that include loyal customers, name awareness, associations and perceived quality that is belong to the brand and add the value in the product or services that are an offered by the organization. By pursuing the given positioning strategy, most firms will focus efforts upon on brand and protecting its position.  

New segments also presented that show that competitors are also present to capture their market share. Expenses of establishing the brand, its difficulty and power of brand show that how much company is willing to pay for that brand. In now a day it is difficult to establish the value of the brand as compared to a few years ago. Because the expenses are going too high related to the advertisement of the product as the distribution and advertisement cost are very high, the number of brands is proliferating. The competitions are going to increase due to the mind of the customer and they access multiple channels for the brands. The measurement of brand related to its performance is very much determined by its price and its equity shows its position very well. (Aake, 2009)

In this article, the author says that a large number of challenges are going to face by the marketers and no any effective techniques are helpful in this regard so brand equity going to use a tool to interpret the various brand strategies with potential effects. Brand equity is the potential and popular concept. Brand equity has elevated the importance of brand in a different market strategy of brands and for research activities and managerial interests, provide more focus. In simple words, branding belongs to services and product conversion with the help of brand equity. Brand equity includes all those effects uniquely attributed to the marketing of a brand. Brand equity presents different results that belong to brand marketing and many issues raised by the brand equity that appears in front of brands in the market among different competitors.

Higher transaction costs relative to large enterprises

So we can say that brand equity is a very powerful technique that supports the brand and gives them a better path to achieve its target. Because of brand equity emphasis the basic attributes that are fully supported by the management and market related to the product. Brand equity emphasis on the added value activities related to marketing, for brand value, is created in many different ways and a common denominator is provided for interpreting the strategies of the market and assessing the values of the brand through brand equity. Brand equity explores the concept that how much the brand is important for the strategies of marketing. (Kevin Lane Keller, 2011)

SocialFirms have to consider the process of introducing and content of bran related to social media that require security related to brand and its loyalty. A brand manager must be aware of all the direction towards the product advertisement are going on Facebook and consider all the data and make assessable all the data for brand communities and consumer response information also gather to determine the likeness and demands of the customers. Different communities of a brand are going to develop with social identifications and for making the value of brand social drivers also very helpful.

Lack of networks of Marketing Research on Problems and Challenges Facing Small and Medium-Sized Enterprises in Kuwait

Different sorts of help provided by these communities are developing a driving force for consumerism, creating a dynamic and vital response to products, sharing information and generating additional avenue to support consumption. The increase in the use of social media is going to high so that they provide more and more information to all consumers related to brand awareness and also present the intention to purchase that product. Brand opportunities provide by the SocialFirms to consumers on a daily basis and social media present the changes that occur in the products of the SocialFirms. SocialFirms provide the latest data and information related to their products to all consumers on social media (Rouibah, 2013).

The concept of marketing and product development is very important as it is generally recognizing by the researchers. Understanding branding reflects the relationships between brand marketing and branding process, as a long-standing approach needs to be understood properly. With the intentions of identifying the goods and services of one seller and a group of sellers and from competitors to differentiate them the brand can be defined as" a name, terms, symbol, sign, design or combination". Consumers make purchasing decisions based on brand affiliation, by comparing between brands as they access those brands frequently. How branding shapes, the Focus of the marketing the most significant aspect is the social element of branding (AL‐Najem, 2013). 

Increased market competition of Marketing Research on Problems and Challenges Facing Small and Medium-Sized Enterprises in Kuwait

Including the value that individual placed on brands, the social messages that another place on brand ownership and social perception branding are influenced by these factors. Consumer response to the marketing messages of the brand and by consumer knowledge about the brand, brand equity is shaped which is the main component. How responses are communicated and how brands are perceived by consumers, brand experience includes this. For the transfer of brand information, brand-related stimuli become an important component now a day. Feelings, thoughts or behaviors that are distinct to each other results in specific consumer responses to brand images, depending on the type of product or services. With the belief on the brand and its image consumer can be attracted towards the brand through social media ways. 

Social media provides a large platform in order to attract more customers to your brand. The thing is you must understand the main thing which is that consumer likeness and interest in the brand. Brands need to be highlighted properly and as well as they tend to be implemented properly among all with positive brand image and having a unique attraction in the brand so that it will attract more customers than any other brand. The consumer believes on proper outcomes of your brand as if any brand attracts consumer emotionally then it purchases it whether it is famous or not. Increasing use of social media may help in your brand promotion very well but the thing is that brands need to have affordable prices (M, 2019). 

Lack of Entrepreneurial Capacity of Marketing Research on Problems and Challenges Facing Small and Medium-Sized Enterprises in Kuwait

Previously SocialFirms use to introduce their products to customers again and again with slight changings by enhancing the attraction of the customer in the product with social component identification of the product, they use to engage customers by recognizing the value of the method best to be used by them. When SocialFirms use social media the loyalty of brand become a major focus. More than half of users on Facebook daily visit their accounts and see all the business advertisements that become the beneficial technologies that help in promoting brands and their related contents. Promotion of brand awareness and consumer attention gain is very supportive through Facebook but the response of consumers may be positive and also may be negative (Haworth, 2019). 

Inability to compete against larger firms 

Consumers are very much interested to get all the information of product related to its quality, manufacturing, its material, and many other elements. So they have to pay proper changes against the product. Social media is the most common and heap source of consumers to get connected with their favorite brand and become aware of all the knowledge and facilities that SocialFirms are going to provide them by purchasing their products. The advertisement on social media becomes very common and most of the business use this source of advertisement t provide awareness to their customers related to their every new and updated product because without advertisement no any business can run and sell its products. (Laksamana*, 2018)

Consumer behavior is very much important in this regard because marketers give most of their attention to the behavior of the consumers. Because the behavior of the consumer shows what they feel, want, think and select from other sources. For purchasing the specific product, the behavior of the consumer gets effected through personal, social, cultural and psychological factors in the market. Many factors are not easy to control but they can be manageable. SocialFirms are very much concern with the behavior of consumers because their production and sales sector depend on the likeness and requirements of the customers (Al‐Hyari, 2012).

The remedies suggested by the entrepreneur

So it must say that marketing is very important in the field of business to enhance its purchases and sales over the customers and make the product famous and popular among different customers with a more effective manner. The social web is the combination of early conversations communities, blogs, photo and video sharing and a combination of social networks. This all elements s become the strong voice of the consumers and they provide support to consumer likeness and their demands. Social media include all those elements that help in conveying the message of customers and also provide information related to produces. So marketing strategy belongs to social media must be effective to achieve the required target related to customers and their production sector.

The method to shape consumer behavior, the introduction of a new product line, the creation of brand awareness all these are conducted by social media brand awareness as social media websites are the center of information distribution on products. To a widespread audience, we can use a word-of-mouth marketing through social media, advancing brand awareness with supporting consumer-to-consumer communication a large-scale social network is needed to be managed properly. 

Remedies for overcoming these challenges 

According to this discussion, that brand charges high prices that are getting more score in the scale of customer-based brand equity. So the image of brand must be very attractive and clear in front of customers so they can enhance the capacity of using that product because they are very loyal and determine the progress of the product by using such scaling and then determine the product that how much it gives benefit to them and how long its usage give benefit and in what manners. Because the brand equity completely depends on the customers and their usage of a product. It also presented that customers also determine the benefit of the products with different methods and techniques and get the satisfaction that how much the product is showing good results and how long it manage the demands of the customers

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