Promotional budget share out of the total marketing budget of companies activating on the Romanian market in 2008 and 2009
This paper presents the results of an ample research regarding marketing communication in companies from the Romanian market. Its purpose is to identify a series of specific guidelines in the field and to track their development in time. It must be noted that marketing communication efforts are perceived as some of the most important ones by the la...
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Context 1... place held by communication within the marketing activities of a company could also result from the promotional budget share out of the total marketing budget of the organization. Table 2 shows the results obtained for this factor, in the two years taken into account. Therefore, the number of companies allocating less than 10% out of the marketing budget to promotion activities was considerably smaller, while the number of companies investing more in promotion underwent a significant increase. ...
... Consequently, in an increasingly dynamic business environment, the exclusive focus of businesses on launching excellent products is no longer a guarantee of long-term success. Nowadays, SMEs are competing more and more to create unique customer experiences by carefully managing interactions and supplying customized treatment . In addition to the strategic customer relationship management (CRM) approach , SMEs also strive for social responsibility in planning their product portfolio, so as not to alter the natural environment and to be recognized for delivering green value products to the market . ...
Value proposition can be an important source of competitive advantage for small and medium sized enterprises (SMEs). Unlike large companies which follow a rational and sequential process, developing a value proposition in an SME is instead a trial and error process. Therefore, those companies are experimenting with various options. The purpose of this paper was to identify the value strategies used by SMEs based on value dimensions and attributes and to find specific groups of SMEs with a similar market approach. We present a theoretical framework on customer value creation and customer value communication, followed by a quantitative research on 399 Romanian SMEs. We used a principal component analysis to reduce the number of choices and afterwards we ran a cluster analysis to identify the distinct groups of SMEs using specific value propositions. We found that there are three major strategic options based on customer experience, affordability and customization, and four distinct clusters: customer delight (A), multiple sources of differentiation (B), one-to-one marketing (C) and cost—effectiveness (D). Three groups use distinct value propositions—A focuses on customer experience, C on customization, D on affordability—while B mixes all of them.
The main purpose of our paper is to investigate the disregarding attitude demonstrated by companies toward the mandatory or voluntarily corporate governance disclosures. Our study does not seek to demonstrate (nor does it reveal) the extent to which companies apply the Corporate Governance Code, but the extent to which they disclose information regarding corporate governance. Therefore, the poor reporting on this subject indicates the companies" lack of interest where as to such reports. Although limited to the sample size level, our research conclusions show a material ignorance gap for the Romanian companies as far as the usefulness of corporate governance disclosure is concerned. Our paper contributes to the widening of corporate governance research and practices. The particular issues approached in our study (such as identification, measuring and providing possible explanations for the ignorance gap) render it with originality.
During the economic turndown, the purchasing power of consumers all over the world has considerably dropped, effecting consumer confidence and trust. Supermarkets are applying various mixes of promotional activities to make customers return to the supermarkets, as there are clear signs of their switching to cheaper alternatives of farmers' markets, corner shops and local groceries. Therefore, supermarkets have a tough task to lure their customers back by effective planning activities in sales promotion, especially with inflation getting momentum and increasing prices in Lithuania. The paper investigates the planning process for sales promotion on the theoretical level and on sales promotion activities as performed at major Lithuanian supermarkets in 2010, primary data obtained through the method of observation.