Comparative analysis of present marketing strategy: David vs. Goliath in confectionery industry

Jovanov, Tamara (2012) Comparative analysis of present marketing strategy: David vs. Goliath in confectionery industry. International Conference Proceedings, Economic Development and Entrepreneurship in Transition Economies, 2 (2). pp. 400-408. ISSN 2233-1034

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Abstract

SMEs and large corporations differ in many ways: size by number of employees, finance, management style, organizational structure, target market, marketing strategy… Yet, one thing is in common – the general importance for the national and global economy, expressed in the summed number of employees, share of GDP, etc. This paper provides insight into existing marketing strategies in national SMEs and large companies from the confectionery industry in Republic of Macedonia. Due to the fact that national companies have lost the battle for market share – one of the few ways for making more profit on the highly fragmented and mature market, the main pragmatic objective of the paper includes the social dimension of the usefulness of the results, presented through detection of the key factors that determine this unfavorable situation and application of the most effective elements that affect the improvement of the competitive market position. The scientific aim of the paper is to offer unbiased, complete and systematic scientific description of the addressed subject of marketing, i.e. marketing strategy, as a crucial step in the process of conceiving and developing a competitive position on the market, especially for SMEs. The research is based on data gathered with both secondary and primary research. With the secondary research data were gathered from relevant trade, business, and government sources, as well as company literature and corporate annual reports. Primary research entailed personally distributed structured questionnaires to a 38% of the registered companies in the industry and follow up consultation through telephone interview and electronic questionnaires sent via e-mail, as well as on-site examination of the retail environment. Data were processed and analyzed with IBM SPSS software. The details from the research reveal the main mistakes of SMEs in the process of marketing strategy creation, and a surprising fact about the poor strategy planning in the largest national companies. The research indicates serious weaknesses in the segmentation – targeting – positioning (STP) process, as well as in the creation and calculation with the 4P instrument of the marketing mix, especially regarding product portfolio and product characteristics, pricing and communication i.e. promotion of the product. The paper presents suggestions for improvement based on relevant literature and best practices.

Item Type: Article
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Economics
Depositing User: Tamara Jovanov
Date Deposited: 14 Aug 2014 14:08
Last Modified: 14 Aug 2018 09:15
URI: http://eprints.ugd.edu.mk/id/eprint/10610

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