Abstract
This paper investigates networking and related activities for marketing performance of small and medium enterprises (SMEs) for the sustainable development and the preservation of the environment. These SMEs have limited business skills and knowledge, and don`t have any marketing funds. As a clearly growing trend aspect in business, networking approaches were blended to find approaches to help these SMEs to take their market niche. Thirty-seven (37) SMEs were used as a convenience sample to experiment with the concepts. They were investigated on what could optimize marketing results and what could offset marketing benefits. The paper finds out that networking provides effective marketing when is modeled under crowdsourcing. Options for crowdsourcing could also involve local organizations in the marketing networks. SMEs should document their activities for proper accountability and transparency. They should also use incentives to volunteers and crowdsourcing participants by giving them shares and be proactive in their approaches. Further, SME practitioners should require them to learn business skills.
Highlights
Businesses should continuously adjust their commercial strategies to react to the changing conditions of globalization, internationalization, and modernization
This paper investigates networking and related activities for marketing performance of small and medium enterprises (SMEs) for the sustainable development and the preservation of the environment
Social responsibility was used for this paper to augment crowdsourcing as an experiment to determine the extent to which marketing could be enhanced without financial input
Summary
Businesses should continuously adjust their commercial strategies to react to the changing conditions of globalization, internationalization, and modernization. Among the strategies for adjusting business is to publicize its trade. Publicizing a business is a major strategy in any business development (Porter, 2008). The formation of marketing networks to implement this strategy is increasing. A network developed through use of many useful people in the form of a crowd is one useful method of the modern marketing. Crowdsourcing implemented in business organization as a business strategy enhances financial performance, sustainable competitive advantage, and ensures business sustainability, among others (Agrawal, Christian & Avi, 2014). Social responsibility was used for this paper to augment crowdsourcing as an experiment to determine the extent to which marketing could be enhanced without financial input
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