Directions for Improving Marketing Strategy

  • Tetiana Fasolko Leonid Yuzkov Khmelnytskyi University of Management and Law
  • Petro Semyanchuk Ternopil National Economic University
Keywords: sales, marketing, strategy, product, products, advertising, cost, profit, price, demand, consumer, buyer, competition

Abstract

Marketing is the current, tactical and strategic actions of an enterprise in the field of commodity production and organizational and marketing components of the activity of an economic entity in order to study and meet the needs of consumers, retain existing ones and enter new markets. Marketing activities are based on such sequential causes and effects as: need, shortage, want, demand, price, product, supply. These seven core categories underpin the development of current, tactical and strategic marketing goals and activities by the business entity. Each business in its activities should rely on market research by direct consumer surveys, study and analysis of the structural dynamics of its sales for short and long periods, observing the product and marketing policies of competitors. Correct and complete information gives greater opportunities for successful marketing and management. An important aspect in achieving marketing goals and objectives should be the ability to combine collaboration between all business units. Proper and professional organization, coordination, motivation and control are the key to avoiding conflicts within the team, improving productivity, developing effective and realistic product and marketing plans for the short, medium and long term. Marketing strategy is an important and integral component of the business entity's activity, guided by long-term goals and plans, aimed at ensuring the continuous creation of tangible and intangible benefits with elements of periodic updating and rotation in order to maximize the needs of existing and potential customers. The article explains the basic aspects of the essence of marketing under market conditions. We propose our own approach to interpreting the concepts of «marketing» and «marketing strategy». Features of management of marketing activity at the enterprise are revealed. Step-by-step approaches to the concept of enterprise marketing management are detailed. The essence and characterization of types of marketing strategy of the enterprise are substantiated. The advantages of improving the quality of products in the context of improving economic performance and strengthening the level of competitiveness of the enterprise are outlined. Ways to improve the marketing strategy are added, which together with the existing ones can become the basis for defining the goals, principles, tools of marketing and marketing policy of the business entity.

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Published
2019-12-27
Section
Economics and Enterprise Management