Current Trends in Marketing Communication of Small, Medium and Family Businesses

Abstract :

Small and medium-sized enterprises and family businesses are an important element of any prosperous economy. The Slovak economy is made up of up to 90% of small and medium-sized enterprises. The content of the paper is to define family businesses and their usage of marketing. Small and medium-sized enterprises also include family enterprises, which are not defined in Slovak legislation. The paper emphasizes the importance of using marketing communication in family businesses, especially in the current turbulent competitive environment. The use of marketing theory in the process offering products to customers also plays an important role. In particular, family businesses in the early stages of business must apply elements of effective marketing communication. The aim of the paper is to emphasize and point out the importance of applying marketing theory in small and medium-sized enterprises and especially family businesses. The importance of the paper consists on the characteristics of the already used tools of marketing communication in family businesses.