Integrated Management of Marketing Risk and Efficiency / Integruotas Marketingo Rizikos Ir Efektyvumo Valdymas

Abstract

There are two principal problems arising for marketing management: fi rst -the increase of marketing ability to use effectively its resources, and second -to inventory the risks infl uencing marketing activity in order to develop their management strategy. Considering exceptional riskiness of marketing, the solution of marketing effi ciency problems is not separable from identifi cation of risks, infl uencing marketing, and their management strategies development. Integrated analysis of marketing effi ciency and risk management problems is performed in two ways. First, a marketing risks portfolio management situation is analysed in such a way that resources, intended for risk management, are distributed among the means of decreasing value at risk in such a manner that the overall value of risk, i.e. the resultant of all risk values, would be minimal. Second, based on the expert effi ciency estimates for a unit of costs in every element of marketing structure, a distribution of costs is pursued which would uphold the best increase of marketinggenerated marginal utility. To fi nd the solution, imitative modeling and stochastic optimization methods are used.Keywords: marketing effi ciency, marketing risk, integrated management of marketing effi ciency and risk.Reference to this paper should be made as follows: Rutkauskas, A. V.; Ginevičius, A. 2011. Integrated management of marketing risk and effi ciency, Journal of Business Economics and Management 12(1): 5-23. JEL Classifi cations: G11, G17, D81, M31, M39.

The possibility of employing Intelligence Poka Yoke technology to reduce marketing risks: A study of the Iraqi oil refineries company

“…Promotion risk: Related to presenting an unreasonable marketing mix, repeated promotion, and potential risks resulting from promotion (Rutkauskas & Ginevičius, 2011. 7) [16] . 6.…”

“…Competition risks: Intense competition between local retail companies, and the entry of retail groups across national borders, which negatively affects marketing activity (Rutkauskas & Ginevičius, 2011. 7) [16] .…”

Marketing Portfolio Management in a Spectrum of Marketing Assets Interaction to Maximize Holder’s Utility

“…When we talk about marketing assets, everything is more complicated, because marketing is a means for product or service to reach the consumer therefore marketing assets often accept the elementary marketing means -advertisement stands, massage texts and other; marketing MIX -as the contact points of marketing and business; consumer -as final user of business results; marketing media -as means to unfold the marketing information (Grundey 2008;Dutu, Halmajan 2009;Munteanu 2009, Armonas et al 2010Ginevicius et al 2010;Rutkauskas, Ginevicius 2011). That is why we would like to pay some attention to the concepts of marketing assets and marketing metrics.…”