Substantiating the Prices for Enterprise Products on the Basis of Optimization Models

Osypenko, S.; Romanchik, Tаtiana; Pisarevsky, S. V.

doi:10.32983/2222-4459-2020-6-145-151

Cited by 2 publications

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“…The greatest research of the theoretical and practical issues of marketing pricing policy was found in the works of Balabanova L., Osypenko S., Romanchyk T. (Osypenko et al, 2020), Slushaenko N. (2015), Myshko O. and Kaminska I. (Myshko et al, 2021), Noritsyna N. (2007), Farm A.…”

Section: Materials and Methodologymentioning

confidence: 99%

Marketing mix modeling for pharmaceutical companies on the basis of data science technologies

Chornous¹,

Fareniuk²

2021

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The article contains the results of Data Science technologies application (including machine learning and regression analysis) to modelling the results of marketing activities of key brand of one of the Ukrainian pharmaceutical companies on the basis of historical data for the period from 2015 to 2019 in weekly detail. The main goal of research is to estimate the influence of key elements of the marketing mix (penetration of pharmacy chains, price policy vs main competitors, advertising activity of the brand and its competitors in all communication channels (television, Digital, radio, outdoor advertising, press)) on company's sales, volume market share and value market share in relevant segment of drugs. Based on the results obtained, the article explains in detail the impact of penetration, price policy and media activity on the competitiveness of the enterprise and its position in the market. The influence of the price policy and penetration directly on sales (market share), as well as on other factors (including the effectiveness of the brand's advertising activity on television) is estimated and taken into account for development the effective marketing strategy. Based on the research, the article contains main recommendations for optimizing the marketing strategy to maximize the company's sales and increasing market share in monetary or physical terms. Data Science technologies become a tool for sales management, because it creates the ability to quantify the impact of each factor on sales, determine their optimal combination for achievement of business goals and strengthening the company's position in the market, effective marketing budgets distribution and scenario forecasting. Continuous model support allows to increase the return on each factor, improve return on investment and ensure the achievement of business goals in the most efficient way. Data Science forms the basis for finding effective marketing solutions and forming an effective business development strategy.

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Section: Materials and Methodologymentioning

confidence: 99%

Marketing mix modeling for pharmaceutical companies on the basis of data science technologies

Chornous¹,

Fareniuk²

2021

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“…Blagun I., Chernyak O., Khristianovsky V., Vitlinsky V (Ponomarenko et al, 2013), Tarasevich V. (2010. and many others.The greatest research of the theoretical and practical issues of marketing pricing policy was found in the works of Balabanova L., Osypenko S., Romanchyk T (Osypenko et al, 2020),. Slushaenko N. (2015), Myshko O. and Kaminska I.…”

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confidence: 99%

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2021

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The problem of converting the implicit knowledge of employees into explicit knowledge of a business entity (a firm) is considered from the perspective of a combination of knowledge management theory in so far as it relate to storytelling and speech act theory. The purpose of the work is to determine the possibility and areas of application of the concept of performativity and speech act theory in knowledge management for its humanization and socialization. The object of the research is converting implicit non-formalized knowledge into explicit formalized one and explicit knowledge into implicit one as a sphere of application of speech act theory in knowledge management. The subject of the research is socio-economic and managerial relations in this area, transformed by performativity. The scientific novelty of the research lies in the identification and application of the relationship in the form of storytelling of knowledge management theory and speech act theory to develop measures for improving the efficiency of the knowledge-based firm's activities. The practical significance of the study lies in the fact that its results can be used by knowledge managers to improve the efficiency of the mechanism for converting implicit knowledge into explicit one and vice versa.

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Substantiating the Prices for Enterprise Products on the Basis of Optimization Models

Cited by 2 publications

References 0 publications

Marketing mix modeling for pharmaceutical companies on the basis of data science technologies

Marketing mix modeling for pharmaceutical companies on the basis of data science technologies

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