Development of a Marketing Strategy for Enterprise Financial Growth

Abstract

The development of marketing strategies has long been engaged in by scientists and practitioners who have written countless algorithms, mechanisms and schemes for the successful development of a marketing strategy. However, in current conditions, all these developments have become obsolete for one main reason: the behaviour of the buyer has radically changed. This reason has again raised the need to develop effective recommendations for the formation of a marketing strategy for the enterprise's financial growth. The authors analyzed the main aspects of strategic planning, studied the features of the leading marketing strategies. The development of a marketing strategy for an enterprise follows almost the same scheme; however, the study showed that customers had changed dramatically: first of all, they are interested in the personal attitude, and only then in the quality of the goods, the price – the usual indicators that have always been in the first places. Taking into account the changed vector, the authors adapted the algorithm for developing a marketing strategy for the financial growth of an enterprise and tested the operation of one of the proposed tools on a real example, which showed its effectiveness in current conditions.

The Role of market development strategy on the performance of manufacturing small and medium enterprise owners in southwest Nigeria

“…Marketing strategies for a product are essential to attracting customers. According to Laburtseva, et al [34], customers no longer take the price of the product as the only criterion for choosing a product as a preferred product. Therefore, in their study on the development of a marketing strategy for enterprise financial growth, it was found that aside from price and quality of product, personal attitude increases.…”

“…Meanwhile, Laburtseva, et al [34] found that customers no longer take the prices of the products as the only criterion to choose a product as a preferred product. However, they noted that aside from price and quality of product, personal attitude is also very critical for market development that will meet customers' needs.…”