Meaning ● Neighborhood Marketing Strategy, within the scope of Small and Medium-sized Businesses (SMBs), represents a concentrated business approach centered on engaging potential customers within a narrowly defined geographic area. Such targeted strategies facilitate streamlined, automated business operations by leveraging local networks and community ties for increased brand recognition and customer loyalty. This strategic approach is pivotal for SMB growth, enabling focused resource allocation and implementation of marketing initiatives yielding higher returns compared to broad-based campaigns. Essentially, SMBs utilize it to gain a competitive edge within their immediate market area.
