STRATEGIC PLANNING OF AGRIBUSINESS ACTIVITIES

In the current conditions of economic development for many organizations operating in the field of agriculture, there are a number of uncertainties due to the lack of strategic planning of activities. On the other hand, it is the long-term goal setting that allows organizations to conduct highly effective activities and be competitive in the market. The main areas of the strategic planning of activities that ensure competitiveness include: branding (creating mental structures in the consumer’s mind), the development of a model of marketing relations with consumers and the management of distribution channels. However, strategic planning in the organization is possible only on the basis of high-quality situational analysis, which is a difficult task for many enterprises due to the significant financial and labor costs. An equally important aspect is the unwillingness of managers of organizations to invest in marketing assets, 95 primarily due to their unability to determine the effectiveness of these investments, as well as the lack of resources themselves. The authors believe it is necessary to provide significant support to organizations of small and medium-size forms of ownership in order to increase their competitiveness, which can be carried out by establishing regional marketing centers, the main task of which is to provide assistance in conducting a situational analysis of the organization’s activities, in particular the macro – and micro-environment of the organization, and determining strategic areas of activity. Equally important is the assistance in the preparation of business plans, in particular, the possibility of obtaining funding for the implementation of state program activities, training in the aspects of conducting effective activities, organizing contests, exhibitions and other events.

Effects of Sustainable Brand Equity and Marketing Innovation on Market Performance in Hospitality Industry: Mediating Effects of Sustainable Competitive Advantage

This study examines the effects of sustainable marketing assets, such as brand equity and marketing innovation, on market performance in the presence of sustainable competitive advantage as a mediator in the hospitality industry. Data were collected from hotel/restaurant customers (N = 360) on a Likert scale from 1= strongly disagree to 5 = strongly agree and analysis was conducted using the structural equation modeling (SEM) technique. The objective of this study is to understand the relationship among brand equity, marketing innovation, sustainable competitive advantage, and market performance in the hotel/restaurant industry. The results show that sustainable marketing assets have positive and significant effects on market performance. This study also demonstrates that sustainable competitive advantage fully mediates the relationship between brand equity and market performance while partially mediating the relationship between marketing innovation and market performance. The findings of this research can contribute to formulating effective marketing strategies for attracting customers, emphasizing sustainable issues in the hospitality sector, such as hotels/restaurants. This research adds practical value to the literature on brand equity, marketing innovation, sustainable competitive advantage, and market performance in the service industry.

Why “majors” surge in the post-disruptive recording industry

Purpose The recording industry has gone through a far-reaching disruption, but the major record companies from the past continue to surge. The following question is addressed: Why has disruption in the recording industry not followed the patterns of generic examples from other sectors? The purpose of this paper is to describe and explain why the digital disruption does not lead to the disruption of all types of companies. Design/methodology/approach This longitudinal study is based on a large set of secondary sources combined with in-depth interviews in Sweden’s recording industry. Findings Findings indicate that when customers turn to streaming, the major record companies’ direct control of which music the consumer is exposed to increases. This main finding contrasts statements that streaming services would facilitate peer-to-peer sharing activities between music customers and make record companies redundant. The major record companies have remained at a prosperous position due to the control of valuable content and marketing assets, as well as asymmetric interdependency among parties in the supply chain. Research limitations/implications The recording industry is different to many other sectors based on the latent value of catalogues, and the conclusions drawn from this paper should thereby not be taken for granted for other industries. Practical/implications Findings suggest that by “reading” the development of the industry and understanding what key resources create dependencies and revenue flows, managers would be better at tackling disruption. Originality/value The paper contributes to previous literature by describing how incumbent companies survive and even prosper post-disruption. It adds to the understanding of the digitalization of the recording industry and points at how dependencies help to understand disruption.

THE EVALUATION OF MARKETING ASSETS INFLUENCE ON THE EFFECTIVENESS OF INTERNATIONAL COMPANIES

In the age of total dematerialization of global business the process of international company asset evaluation (especially its financial and managerial aspects) becomes more complex. Taking into account the modern economic context it is harder for professional marketers to asset the potential, strategic output of available company resource management and especially marketing activities. Therefore, this paper addresses the following problem: what are the key prospects of marketing asset usage in the modern strategic management and what is the degree of their influence on the effectiveness of international companies? This paper aims to identify the key elements of marketing asset system and its impact on the company performance by analyzing the correlation between key ratings, which evaluate the quality of every asset management and the profit dynamics of relevant international companies during 2010–2015. The results of detailed analysis indicate the greatest impact of such assets as brands, marketing information system, marketing strategy and alliance-based assets on the company performance.

Towards a unified theory of brand equity: conceptualizations, taxonomy and avenues for future research

Purpose – This paper aims to look into contemporary thinking within the brand equity paradigm, with a view to establishing avenues for further research on the drivers of brand equity formation, enabling a more in-depth understanding of the antecedents of brand equity and its determinants, as well as the development of an improved instrument to measure brand equity. The brand equity paradigm and its importance for marketing theory have been in the research focus for more than two decades. There is no agreement in the literature how to develop a unique measure of brand equity, neither what are the sources, drivers or determinants. Design/methodology/approach – The authors develop the relating conceptual study through the differentiation and integration as specific conceptual goals. The authors present a taxonomic framework of brand equity grounded on a synthesis of contemporary approaches to the theme. Findings – The authors identify gaps in the brand equity literature. The analysis and development of the conceptual study in this paper shall serve as beacons for future research and provide valuable theoretical insights on the determinants of brand equity formation and the development of better brand equity measurement tools. Originality/value – The authors synthesized contemporary approaches in the field, identified research gaps and proposed open questions that should be tackled, as well as provided avenues for future research. The authors argue that creation of a unifying brand equity theory should be based on three pillars: stakeholder value, marketing assets and brand financial performance outputs.