Marketing planning: state of the art in a transitional economy

Jovanov, Tamara and Temjanovski, Riste and Fotov, Risto (2014) Marketing planning: state of the art in a transitional economy. Journal of Process Management – New Technologies, International, 2 (3). pp. 104-113. ISSN 2334-7449 (Online); 2334-735X (Print)

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15. MARKETING PLANNING STATE OF THE ART IN A TRANSITIONAL ECONOMY july 2014.pdf

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Abstract

This paper is provoked by the distorted marketing practices of companies that operate in a transitional economy, specifically Republic of Macedonia. The analysis has two main purposes: 1. to identify the weaknesses in the marketing planning process, 2. to prove the connection of continuous formal marketing planning with business performance, i.e. profitability and market share. Data was obtained from primary and secondary research. Primary research was conducted in the food, i.e. confectionery industry, with two techniques – survey and interview with the managers of 38% of the registered companies in the industry. Secondary research was based on books, journals, web-cites. The analysis was executed with IBM SPSS 19. Conclusions are provided through descriptive and deductive statistical analysis. The findings show that the companies have multiple weaknesses in the marketing planning process (continuous formal marketing planning occurs rarely, there is lack of knowledge regarding the systematic planning process and a tendency of misuse of analytical tools). Additionally, a connection and dependence of business performance on continuous formal marketing planning was found. Limitations arise from the sample size and the (one) chosen industry sector. However, there are evident practical and social implications which can contribute to better competitiveness: possibilities for correction of current practices and development of a systematic marketing planning process. This research is of a great value on a national level because it is one of few that analyzes this subject through primary data. Also, the results can be consulted by researchers and practitioners from other transitional economies. Key words: marketing planning, business performance, competitiveness, transitional economy, food industry

Item Type: Article
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Economics
Depositing User: Tamara Jovanov
Date Deposited: 01 Oct 2014 09:42
Last Modified: 14 Aug 2018 09:13
URI: http://eprints.ugd.edu.mk/id/eprint/11049

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