Adaptation of marketing tools in retail companies

Economic Annals-ХХI: Volume 164, Issue 3-4, Pages: 71-75

Citation information:
Pavliková, M., & Čihovská, V. (2017). Adaptation of marketing tools in retail companies. Economic Annals-XXI, 164(3-4), 71-75. doi: https://doi.org/10.21003/ea.V164-16

Marta Pavliková
PhD (Economics),
Assistant Professor,
University of Economics in Bratislava
1 Dolnozemska cesta Str., Bratislava 5, 852 35, Slovak Republic
marta.pavlikova@euba.sk
ORCID ID: http://orcid.org/0000-0002-0953-0361

Viera Čihovská
PhD (Economics),
Professor,
University of Economics in Bratislava
1 Dolnozemska cesta Str., Bratislava 5, 852 35, Slovak Republic
viera.cihovska@euba.sk
ORCID ID: http://orcid.org/0000-0002-1736-0454

Adaptation of marketing tools in retail companies

Abstract. In today’s highly competitive environment under the conditions of internationalisation and globalisation of trade, retail companies have to know the overall characteristics and culture of different countries, consumer preferences, behaviour and many other facts. This knowledge allows the retailer to carry out proper and effective decisions on adaptation and standardisation of the application of strategies, thus ensuring the successful expansion and activity abroad. This paper deals with the explanation of the need and importance of adaptation of marketing tools in retail companies. The quantitative survey was realised in 2015 among 25 retail companies operating in at least two countries of the European single market. The participants in the survey were the marketing managers or CEOs of these companies in each respective country. 364 questionnaires were distributed. Based on the results of the survey, we define attitudes of retail companies and stakeholders on this matter, the factors leading to the adaptation and standardisation of various marketing strategies and the impact of the adaptation of these strategies on retail sales. The achieved average values of the responses show that the price of the required margins, sales promotions and applied discounts are the most adapted marketing factors in the studied companies.

Keywords: Retail; Marketing; Marketing Strategies; Adaptation; Standardisation

JEL Classification: M19; M31; F23

Acknowledgement. The article is related to KEGA project No. 018EU-4/2014, dealing with «European Marketing – Factors and Determinants of the Single European Market (monograph with multimedia support)».

DOI: https://doi.org/10.21003/ea.V164-16

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Received 13.03.2017