CONCLUSION The strategy of the company refers to providing solutions on how the company can transfer the operations from the current positi...
CONCLUSION The strategy of the company refers to providing solutions on how the company can transfer the operations from the current position into the desired future position, and achieve the desired end results. The need for strategy formulation is motivated by the need to set the strategy direction, to enable the company to maneuver through turbulent business environment. It is necessary to rationally use resources and to promote coordinated development of the ongoing activities, i.e. to trace the development and the way of its accomplishment. The necessity of market research is also confirmed as a function of the strategy that provides an efficient and effective decision making for marketing on a particular market. Market research, according to the value of market research industry worldwide, is one of the key instruments of marketing - management used to find,
collect and analyze basic data that lead to valid information for decision making and increase competitive advantage. The significance of market research essentially stems from changes in business conditions that lead to technological change, increasing complexity of managerial work, increasing complexity of the external environment, increasing the spread between decisions and outcomes. The need of enriching the knowledge and enabling managers to possess the right information at the right time, which helps in creation of a business unit strategy or corporate strategy in general calls for devoted action of changes in the managerial way of thinking and therefore the way of doing business. Food industry is one of the industries that intensively and in large amounts invests in market research. In the Macedonian chocolate industry and market, the domestic companies feel a lack of market information featuring: customer needs, requirements and preferences; market size; market potential; market growth; the available and suitable types of research techniques; etc. This situation results in a vague business strategies and weak market position in relation to foreign competitors with a market orientation in the work. Changes in the work of the domestic companies can be made with the proper use of market research for obtaining all the necessary information about the chocolate market (size, potential growth, profitability of a particular market/industry,
consumer preferences). The companies can choose from a variety of techniques for analysis of technological, economic, political, legal, sociological, cultural factors outside the company environment (PEST/EL, SLEPT, Porter’s 5 – forces model) and internal company factors - strengths and weaknesses (SWOT, Six Sigma Marketing, etc.). The competitive marketing strategy for chocolate products should be a strategy of differentiation of the products, with prices higher than the ones of the competitors that are attacked, but lower than the ones of the leaders on the market. The product should be placed on the market through intensive distribution and supported with integrated marketing communications consisted of economic propaganda, sale promotion, PR and publicity. On the end, a system of control should be implemented in order to insure the proper execution of the marketing activities.
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