Building of Effective Marketing Mix for Small Business

The bachelor graduation work is devoted to difference in marketing mix development for small and large business. Within the framework of the study the characteristics of small companies, importance of marketing mix for business strategy, it models and strategic decisions for each element were investigated. The comparison of marketing mix for small and large companies was held on the basis of financial, organizational and labor resources difference and represented the inability of small companies to build an effective marketing mix by applying instruments that are only suitable for large ones. The empirical part of the work is development of an effective marketing mix for a mobile audioguide for museums that do not have such service for Russian tourists. An online survey was conducted so as to emphasize the target audience and fundamental indicators by which the marketing mix was further developed. The competitive market analysis was also carried out on the purpose of identifying the key benefits and flaws of direct, indirect and potential competitors. After the marketing mix was developed, it was examined for efficiency by analyzing if the elements satisfy consumer need, correspond to company’s resources, form a competitive advantage and cohere with each other. The result of this analysis showed an effectiveness of the marketing mix designed.