Jovanov, Tamara and Sofijanova, Elenica and Davcev, Ljupco and Temjanovski, Riste and Mitev, Goran (2017) Make it happen: business steps for competitive market positioning of SMEs in developing economy. In: 22nd EBES Conference, 24-26 May 2017, Rome, Italy. (In Press)
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Abstract
This paper aims to present some of the basic business steps that SMEs in transitional economy can follow in the process of competitive market positioning. The main objective is to demonstrate that the practice of certain business activities, such as development of higher levels of market orientation, implementation of market research, marketing strategy and strategic planning can lead to better market positioning in regards to competitors and also positively affect the profitability of a company. Data are gathered through questionnaires and follow-up interviews among Macedonian entrepreneurs and the analysis, based on parametric statistics, is performed in IBM SPSS19. The results show that the analyzed business activities have a positive outcome for companies in regards to competitive positioning, since they lead to proactive approach and timely reaction to consumers' needs, market trends, competitors actions, internal information sharing. Some of these activities are found to be positively correlated with profitability. On the other side, SMEs in a developing economy are slow in adapting to market changes, mainly believe that external factors of influence are the main reason of limited success, and have highly selective approach to marketing activities, which current implementation is on a low to a medium level. The authors state that it is of significant importance for SMEs in developing economy to be more open to a development of a fresher mindset that will enable them to transit from product or commercial business orientation to market orientation and better business analysis and planning.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Tamara Jovanov |
| Date Deposited: | 12 Jun 2017 09:22 |
| Last Modified: | 16 Aug 2018 06:51 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/17863 |
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