Formal marketing planning and performance - the case of transitional economy

Jovanov, Tamara and Temjanovski, Riste and Ristevska - Jovanovska, Snezana (2016) Formal marketing planning and performance - the case of transitional economy. Business Challenges in the Changing Economic Landscape, 2 (1). pp. 277-292. ISSN 2364-5067

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This paper was inspired from the necessity to identify the weaknesses in the marketing planning process in companies in a transitional economy and it analyses the connection between continuous formal marketing planning and business performance (profitability and market orientation). The data was obtained with primary and secondary research executed in the companies from the food, i.e. confectionery industry (38% of the registered companies). The research was based on the techniques of survey and interview. The descriptive statistics presents multiple weaknesses in the marketing planning process: rare use of continuous formal marketing planning; lack of knowledge about the planning process; tendency of misuse of analytical tools. The deductive statistics shows a direct link and dependence of profitability and market orientation degree from implementation of continuous formal marketing planning. Some limitations rise from the sample size and the (one) chosen industry sector. This paper offers some practical and social implications. It explains how a correction of current practices and views about the marketing planning process can lead to better business results. On a national level, this is one of a few papers that analyses this subject through primary data and offers results from existing companies, operating in a transitional economy.

Item Type: Article
Additional Information: Web of Science Categories:Business; Management Accession Number: WOS:000389807100020 ISBN:978-3-319-22593-7; 978-3-319-22592-0 Other Information IDS Number: BG5YB Cited References in Web of Science Core Collection: 31 Times Cited in Web of Science Core Collection: 0
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Economics
Depositing User: Tamara Jovanov
Date Deposited: 01 Feb 2016 15:16
Last Modified: 13 Aug 2018 11:10

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