Effectiveness of Marketing Activities in Engineering in Czech Republic

By Milichovsky, Frantisek | Business: Theory and Practice, June 2015 | Go to article overview

Effectiveness of Marketing Activities in Engineering in Czech Republic


Milichovsky, Frantisek, Business: Theory and Practice


Introduction

On the present, companies operate in highly competitive environment than ever. They have to improve own ways of management which must correspond with the world's changes. The emergence of whole marketplace for all products change in customer behaviour, market globalization, environmental awareness and social benefit contribute to high competition on global market between all companies. The long-time business cannot use traditional techniques to corporate progress. It is necessary to come up with new ideas or innovations to be different from competitors in order to survive in global market (Pitra 2006; Klimkova, Hornungova 2012).

World crisis was evoked due the globalization of all important worlds markets. Individual companies have to reorganize own portfolio and look for new opportunities--new innovative products or new markets. With this innovation optimal marketing strategy is closely connected and helps to increase corporate performance (Petersen et al. 2009).

Unfortunately, corporate measurement of performance is usually focused only on financial results. There exists lack of customers' perspective and their needs, which bring problems in own measurement process (Halachmi 2005).

Engineering companies have become one of the most important parts in Czech industry environment. These engineering companies measure effectiveness mainly in production process. These companies haven't measured effectiveness of other corporate parts like stakeholders, marketing activities, human resources (Zahay, Griffin 2010).

Industrial area is quite specific. All definitions are focused on customers and good relationships with them. Industrial marketing should be similar to consume marketing in odd ways. The fundamental divergences between them are in individual motives for purchasing. This means that the goods and services, located at this area, is not for final consumer (Alvarez, Galera 2001).

From point of view of performance measurement, there is specific area of corporate performance in SMEs, because they conduce to large amount of their interest in economic field to sustainable development. That is important aim on which not only Czech companies focus on. They try to connect different performance systems like social, economic and environmental. These three dimensions impact whole business system of measurement of performance and effectiveness (Kocmanova et al. 2011; Coombes, Nicholson 2013; Pollard, Simberova 2012; Hornungova 2014). That is due to different both of corporate environment and relationship with stakeholders. For every company, there exist various conditions and stakeholder's requirements are not identical as well (Kanovska, Tomaskova 2012).

If any company declare that is efficient and effective, than it should be able to demonstrate which indicators were used, and other procedures or standards. Companies would not miss a comparison with direct competitors in their industry field, as shown by current knowledge, which can be suitably selected according to using tools, whether financial or non-financial (Kotler, Keller 2012).

Main aim of the article is to identify impacts of engineering industry on realisation of marketing activities in Czech Republic. Main hypothesis is that there is dependence between realisation of marketing activities and engineering fields. The study contributes to gain full picture of the possibilities of measuring the performance of marketing activities in engineering Czech companies and their effectiveness.

1. Specification of marketing activities

Marketing activities are the sub-elements in the marketing process. The marketing process includes, according to Kotler et al. (2007) four parts, namely:

--analysis of marketing opportunities,

--selection of target markets,

--creation of the marketing mix,

--management of marketing efforts.

These four sections contain the necessary marketing role and activities that affect the final marketing strategy. …

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