Academic journal article European Research Studies

Marketing Management and Marketing Controlling of SMEs

Academic journal article European Research Studies

Marketing Management and Marketing Controlling of SMEs

Article excerpt

1. Introduction

Marketing management is an overview company activity that is immediately bound to all other company departments and that creates basis for other strategic and operative activities of the company. Marketing management in the CRM (Customers Relationship Management) regime is defined as a continuous process of analysis, planning, implementation, and check of all activities in the company (Kotler and Armstrong, 2004). In the hypercompetitive environment, which is characterized by supply that is ten-fold larger than demand, marketing management has become the primary activity of most small and middle-sized companies and it influences development of sales, financial and innovative company plans. Full process marketing management based on the M-C model [2] is created by marketing management and marketing controlling.

Process management based on the M-C model [3] can be defined as the Management Control System that includes a comprehensive view of management on the basis of management accounting, management theory and personnel management. It is an interdisciplinary management system where the most important thing is not the interface of the process but the understanding of business management as a whole, mastering planning tools based on research, objectives, visions and missions (management) and control tools based on evaluation of deviations and proposal of risk management measures (controlling). The M-C model shows that a successful business can work only if you manage to grasp all of its processes and understand their interdependence.

A detailed business process management model is provided in Figure 1. The M-C model is the basis for all business activities and thus serves as a basis for understanding marketing management and controlling.

[FIGURE 1 OMITTED]

2. Marketing Research

For big companies as well as medium-size and small companies ongoing market research is the basis for all other activities. It should not, however, apply only to a specific project or investment plan, but should be implemented and monitored continuously. At a time of growing competition the natural product lifecycle is shortened. A constant flow of information associated with new trends, competitors, customers and suppliers is a key to the functioning of the company.

The target of marketing research is the systematic collection, analysis and evaluation of information necessary for the effective implementation of specific marketing activities. It is therefore necessary to proceed systematically and divide the research into evaluation of macro environment factors (generally we use the so-called STEEP analysis, including sociological, technological, economic, environmental and political factors) and micro environment factors (mostly we use the so-called Porter competitive forces analysis, including research related to current and potential competitors, suppliers, customers and substitutes).

The research form depends on its purpose, type of business (manufacturing, trade and services), product, size of the competitive environment, market share, financial strength, etc. The research consists of collecting, processing and analyzing information, followed by elaboration of a report and presentation of results. The research may require gathering of secondary data, primary data, or both. Secondary data includes information already collected for other purposes. On the contrary, primary data is collected for a particular purpose. In the first case, the company uses data both from their databases and available external sources (public electronic databases, business associations, chambers of commerce, media, etc.). In the latter case the sources are economic and financial data and databases of customers, including minutes of meetings.

3. Marketing Plans

The marketing plan is one of the pillars and documents necessary for the successful management of the company. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.