Formal marketing planning and performance - the case of transitional economy

This paper was inspired from the necessity to identify the weaknesses in the marketing planning process in companies in a transitional economy and it analyses the connection between continuous formal marketing planning and business performance (profitability and market orientation). The data was obtained with primary and secondary research executed in the companies from the food, i.e. confectionery industry (38% of the registered companies). The research was based on the techniques of survey and interview. The descriptive statistics presents multiple weaknesses in the marketing planning process: rare use of continuous formal marketing planning; lack of knowledge about the planning process; tendency of misuse of analytical tools. The deductive statistics shows a direct link and dependence of profitability and market orientation degree from implementation of continuous formal marketing planning. Some limitations rise from the sample size and the (one) chosen industry sector. This paper offers some practical and social implications. It explains how a correction of current practices and views about the marketing planning process can lead to better business results. On a national level, this is one of a few papers that analyses this subject through primary data and offers results from existing companies, operating in a transitional economy

Make It Happen: Marketing Processes for Competitive Market Positioning of Firms in Transitional Economy

This paper presents some of the marketing processes, i.e. activities that firms in transitional economy can follow in the process of competitive market positioning. The main objective is to demonstrate that the practice of certain business processes, such as market orientation, market research, written marketing plans as a base for future business operations are correlated with creation of market positioning statements and thus increase the focus on market positioning in regards to competitors. This in addition, results in positive effects on profitability. Data are gathered through questionnaires and follow-up interviews. The results show that the analyzed processes have a positive outcome for firms in regards to competitive positioning. The creation of market positioning statement is found to be positively correlated with profitability. However, many of the firms in a transitional economy are slow in adapting to market changes, and have a selective approach to marketing activities. The most striking result is the more proactive approach of small and medium-sized enterprises in implementation of some of the marketing activities, like formal marketing planning and market research than large firms. Keywords: Domestic firms, Transitional economy, Market positioning, Market orientation, Formal marketing planning, Market researc

Personalized medicine in psychiatry: problems and promises

The central theme of personalized medicine is the premise that an individual’s unique physiologic characteristics play a significant role in both disease vulnerability and in response to specific therapies. The major goals of personalized medicine are therefore to predict an individual’s susceptibility to developing an illness, achieve accurate diagnosis, and optimize the most efficient and favorable response to treatment. The goal of achieving personalized medicine in psychiatry is a laudable one, because its attainment should be associated with a marked reduction in morbidity and mortality. In this review, we summarize an illustrative selection of studies that are laying the foundation towards personalizing medicine in major depressive disorder, bipolar disorder, and schizophrenia. In addition, we present emerging applications that are likely to advance personalized medicine in psychiatry, with an emphasis on novel biomarkers and neuroimaging