EVALUATION OF EFFICIENCY OF MARKETING STRATEGIES OF ENTERPRISES BY FACTOR ANALYSIS METHODS


Keywords: efficiency of marketing strategy of the enterprise, methods of factor analysis of efficiency, influence of factors of external and internal environments, deterministic and stochastic models of determination of marketing strategy effectiveness.

Abstract

Topicality. The urgency of the article is explained by the need for an objective assessment of the effectiveness of the marketing strategy, which would enable the company not only to compete effectively in the market, but also to influence the duration and variability of life cycles of both the enterprise itself and its products. Marketing strategy is the main tool for ensuring ocompliance between the internal environment of the enterprise, its potential and the requirements of the environment. The diverse nature of these requirements creates significant barriers for their accurate and reliable identification and accountability. As these requirements are set according to future (expected) characteristics of the environment, the important task is to predict and foresight them. To assess the reality of such forecasts and to investigate the possibility of different types of risks to implement the strategy - one of the most important tasks, the solution of which will depend on the reaction of the company to the factors of the environment in the long run, that is, the effectiveness of its marketing strategy. The use of factor analysis methods allows to get maximum consideration of the influence of factors on the effectiveness of the marketing strategy of the enterprise.
Aim and tasks. The purpose of the article is to search and adapt the methods of factor analysis to their application in the field of assessing the effectiveness of marketing strategy to maximize their qualitative and quantitative characteristics of factors and obtain reliable results. The tasks, which realize the stated purpose, are the research of a wide spectrum of methods and models of factor analysis, estimation of possibilities of their application in the chosen sphere, analysis of the advantages and disadvantages received.
Research results. The result of the study is the choice and adaptation of methods and models of factor analysis for application in the field of evaluation of the effectiveness of marketing strategy, as well as an analysis of the advantages and disadvantages that the enterprise will receive from this.
The proposed methods will allow to evaluate the effectiveness of marketing strategies of enterprises by indicators of the amount of resources involved to implement the strategy and the speed of obtaining the desired result. The application of the proposed methodology provides significant advantages at the stage of perspective analysis for the development and selection of an optimal marketing strategy. At the final stage of the retrospective analysis, namely at the stage of evaluating the effectiveness of the strategy after its implementation, methods are more effective, which will allow to detect the mistakes made at the stages of its development and implementation, in order to take them into account in the future period.
Investigating the possibilities of using of factor analysis methods in the case of stochastic dependencies between the indicators characterizing the influence of environmental factors on the efficiency of the marketing strategy of the enterprise, it was possible not only to design the corresponding models, but also to evaluate the influence of these factors and the relationship between them.
Conclusion. The proposed methodological approaches allow us to assess the effectiveness of a marketing strategy that fully takes into account the diverse and multi-directional effects of rapidly changing environmental factors, to analyze the possible results before they are received and to compare them with the volumes of planned resources for use, to assess the level of achievement of the strategic goal, reliability and flexibility of the strategy, its ability to reorganize and develop. The prospect for further research is the formulation of methodological approaches to determining the required level of the indicator of the effectiveness of the marketing strategy of the enterprise, the value of which would be able to predict the main performance indicators of the enterprise.

Author Biography

Z.O. KOVAL

PhD. Econ. Sciences, Associate Professor, Lecturer

Department of Accounting and Analysis
Lviv Polytechnic National University,

Bandera street, 12, Lviv, Ukraine, 79013

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Published
2019-03-20