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Add Friends (1/11)

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SMES' MARKET ENTRY STRATEGY: SUBSTITUTION INSTEAD OF NICHING
Guan H Lim, Khai S Lee and Soo J Tan

Abstract Existing research seems to suggest that the obvious strategy choice for SMEs, given the fact that they do not have plentiful resources, is to is to seek market niches. However, the very fact that SMEs do not have plentiful resources may mean that they would not be able to niche successfully beyond the short term. The bigger firms who have initially neglected the niches may try to wrestle the niche away from the SMEs, especially if the SMEs have successfully developed the market into a size that is sufficiently big and profitable. A better strategy choice for the SMEs might be to offer products/services that are substitutable to, but differentiated from, that offered by the incumbent bigger firms. This paper, through the use of deductive logic and actual case examples, shows why a substitution strategy might indeed be a better strategic choice for the SMEs. Introduction Conventional wisdom (see for examples Perry, 1987; Waterworth 1987; and Kotler, 1996) suggests that niching is the strategy choice of SMEs given that SMEs have limited resources. They do not have plentiful financial resources, and very often are also short on manpower especially those with the necessary managerial skills and marketing expertise. However, it is this very lack of resources that may impede the SMEs' ability to niche successfully and sustain its market entry in the long run This is because, in following the niching strategy, the SMEs must possess some sustainable competitive advantages, advantages that often require substantial resources and time to develop. The potential entry of bigger firms into the SMEs' markets should not be overlooked nor underestimated. This is especially so once the SMEs have successfully built up the market niches to the extent that demand becomes

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