Jovanov, Tamara and Temjanovski, Riste and Ristevska - Jovanovska, Snezana (2014) Marketing planning and performance: The case of transitional economy. In: 14th EBES Conference – Barcelona, 23-25 Oct 2014, Barcelona, Spain. (In Press)
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Abstract
This paper is inspired by the distorted marketing practices of companies that operate in a transitional economy, specifically Republic of Macedonia. This analysis has two main objectives: 1. identification of weaknesses in the marketing planning process, 2. providing an evidence of the connection of continuous formal marketing planning with business performance, i.e. profitability and market orientation. The data was obtained both from primary and secondary research. Secondary research was based on books, journals and web-cites, while primary research explored the food, i.e. confectionery industry, with the use of two techniques – survey and interview with the managers of 38% of the registered companies in the industry. The analysis was executed with IBM SPSS 19. Conclusions are given on the base of descriptive and deductive statistical analysis. The findings show that the analyzed companies have multiple weaknesses in the marketing planning process: continuous formal marketing planning happens rarely, there is evident lack of knowledge about the systematic planning process and a tendency of misuse of analytical tools. In addition, the research showed a direct connection and dependence of business performance (profitability and market orientation degree) on continuous formal marketing planning. Limitations arise mainly from the sample size and the (one) chosen industry sector. On the other hand, there are evident practical and social implications which can contribute to better competitiveness of companies in transitional economy: 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.
Keywords: marketing planning, business performance, transitional economy, food industry
JEL: M300, P210, L660
| Item Type: | Conference or Workshop Item (Speech) |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Tamara Jovanov |
| Date Deposited: | 30 Jan 2015 09:38 |
| Last Modified: | 16 Aug 2018 06:57 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/12209 |
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