Family Business

1. Factors
Distinguishing
Marketing in Small
Family Business
Varun Sharma

2. Agenda
 Purpose
 Factors
 Three Circle Model
 Salience vs. Awareness
 Resources

3. Purpose
 The purpose of this research
was to identify the leading
factors limiting the marketing
potential in small family
businesses.
“Before developing strategies, identify hurdles”

4. Factors

5. Time
Relationships Skills
Marketing
Potential
Financial
Technology
Capital

6. Time
Example: Atkinson Coffee;
Lancaster Coffee and Wholesale
Shop
 Comparison to
Corporations
 Market Research
 Ian Steel: Atkinson
Coffee

7. Skills
Outsourcing for Skills
 Limited Skillsets in
FBs
 Catching trends
 NFC vs QR code
 Expensive
Consulting

8. Financial Capital
Tightened Lending since 2008
 Limited Capital to
Develop
 Limited Capital for
Marketing
 Look for Leverage

9. Internet
Groupon
 85% of SME Businesses
have websites
 Groupon; Small Business
Opportunity
 Website Marketing = $$$

10. Relationships
Lack of Credibility
 Corporations have
more legitimacy
 SMEs also consider
corporations safer
 Internal: Work/Life
Balance

11. 3 Circle Model
Family Ownership
Business

12. Salience vs. Awareness
Salience Awareness
 Mars Rank: 8th  Mars Rank: 1st
 FBs try imitating  Large Budgets for Brand
corporations Awareness
 FBs can benefit from  Awareness does not
salience-based always translate to sales
advertising

13. Thank You for
Listening

14. Resources
AL-allak, B., 2010. Evaluating the adoption and use of Internet-based
marketing information systems to improve marketing intelligence.
International Journal of Marketing Studies, 2(2), p.87-101. Available at:
http://ccsenet.org/journal/index.php/ijms/article/viewFile/8114/6151.
OʼDwyer M., Gilmore, A. & Carson, D., 2009. Innovative marketing in
,
SMEs. , 43(1/2), p.46-61. Available at:
http://www.emeraldinsight.com/10.1108/03090560910923238.
Spillan, J. & Parnell, J., 2006. Marketing Resources and Firm
Performance Among SMEs. European Management Journal, 24(2-3),
p.236-245. Available at:
http://linkinghub.elsevier.com/retrieve/pii/S0263237306000259.