Marketing Of Small And Medium Sized Enterprises In Mongolia

Small and medium sized enterprises (SME's) play important role in to enhance economy of any country, in Mongolia it is not only help to develop economy of the country but as same time it is source to create new jobs for unemployed. As larger firms downsize and outsource more functions, the weight of SMEs in the economy is increasing. In Mongolia, most potential business sector completely rely on marketing for its growth and ventures. This is evident of majority of business enterprises in other sectors, falling out of business a few seasons after its inceptions. Among all business sectors food processing and manufacturing, pharmaceuticals, and textile industries are highly growing business in Mongolia. Focusing these points a study was undertaken with wide objectives to investigate the current problems with marketing in Mongolia related to small and medium sized enterprises (SME's) with marketing techniques, which allows businesses to establish competitive advantage and compete effectively with substitute products. These techniques were briefly analyzed in Mongolia. According to the findings that small firms need to upgrade their management skills, their capacity to gather information and their technology base. Along with governments need to improve SME access to financing, information infrastructures and international markets. Providing regulatory, legal and financial frameworks conducive to entrepreneurship and small firm start-up and growth is a priority.