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Harmonization of economic interests in marketing management system of industrial enterprise

Journal: Scientific and practical journal “Economy of Industry” (Vol.63, No. 3)

Publication Date:

Authors : ;

Page : 119-128

Keywords : economic interests; marketing management; industrial enterprise;

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Abstract

The issue of economic interests’ harmonization is one of the eternal issues in economic science, which from its inception to our days has been directing the efforts to study the processes of their forming, developing, coordination and implementation. Nowadaysthe relationship marketing is paradigmatic basis of marketing that includes not only the classic relationship “producer - consumer”, but also the relationships with many other stakeholders each manifests their economic interests in varying degrees. Coordination of the relationship between marketing subjects (subjects of enterprise’ marketing management) is one of the important scientific and practical problems. Different fundamental economic contradictions such as a contradiction between limited resources and unlimited needs, the distribution of surplus product, efficiency and full employment reflect in interests. Contradictions force the company to move in the direction of sustainable economic development, to act as an internal power operation and to develop the company and its competition. One of the means of mitigating conflicts is a compromise which changes enterprises characteristics relatively opposite to the sides of economic interests. The conflict elimination involves creating environment interaction entities that may harmonize their interests. The company serves the interests of shareholders, employees, customers, business partners and society in general. It plays the role of the institute to ensure stability and security of market for consumers, shareholders, partners, society, employees, and intends to co-ordinate goals and economic interests of all these groups. Objectives of social groups should be consistent with the goals of the enterprise. Changing the nature and mechanisms of creating a sustainable competitive advantage requires the design and development of innovative models in strategic marketing management. This requires a systematic consideration of company relations with all the ranges of stakeholders. The strategic marketing management considered from the standpoint of the theory of stakeholders is virtually absent. Strategic marketing management is aimed for forming and maintaining sustainable competitive advantage, which interacts with numerous groups and individuals because their support is needed in the implementation strategy. As a result, the company receives a sustainable competitive advantage providing long-term competitiveness and above average profit level. Relationship between the enterprise and its stakeholders are organized around resource sharing. Therefore the effectiveness of resource sharing is the indicator of the relationship. Resource sharing between an enterprise and its stakeholders is due to the manifestation of the mutual economic interests. During the resource sharing stakeholders can be satisfied to varying degrees depending on the quantity and quality of the resource. The ability to build and maintain long-term relationships with stakeholders is a competitive advantage. To establish and maintain harmonious relations with stakeholders an enterprise must learn to evaluate the relationships formed and the need to find ways to change. Dissatisfaction arises as a consequence of lack of resource or itsinappropriate quality. In the future it may lead to the desire to change the established relations. The relationship between the company and stakeholders is affected by such factors as the quality of resource sharing, information and previous experience, types of transactions and the characteristics of relationships (satisfaction with resource exchange, the degree of willingness to change, the degree of influence). Marketing management is aimed at the harmonious development or achievement of higher performance of the business comparing with the competitors in the long run by learning and satisfying existing and future needs/economic interests of all stakeholders (objects of market orientation).

Last modified: 2017-08-31 12:58:13