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Strategizing SME Performance in the 4th Industrial Revolution Era: An Entrepreneurial Marketing Approach
Abstract
Small and Medium Enterprises (SMEs) have played an important role in fostering growth, employment and national income around the world. However, despite the significant role and contribution to the economy, SMEs faced some constraints and challenges that directly affect their business growth and performance. Literature in SMEs showed that SMEs failure rate increased up to 70 percent after five years of operation, and among the main reasons for this situation is the marketing problems faced by SMEs. Marketing plays as the backbone for SMEs survival in today's competitive environment, especially in the 4th Industrial Revolution Era. The chapter focuses on the historical aspect of entrepreneurial marketing (EM) and how EM enhance the SME's capabilities through the adaptation of EM strategic approaches.
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