Management of assortment policy of the enterprise in market conditions


Keywords: management, assortment policy, product, product range, quality, nomenclature, concept, strategy, marketing, market segment, market environment

Abstract

From the results of the assortment policy, it will depend on whether the company will have the opportunity to develop steadily, whether it will occupy leading positions in the markets, be able to compete effectively or fall into the crisis through unsuccessfully selected assortment and will strive to survive in a complex and saturated environment. That is, it may be noted that the assortment policy serves as a certain benchmark for making decisions that meet the requirements of the conditions of the functioning of the market entity. Thus, the chosen topic is very relevant in a market economy. The purpose of the study is to study the features of the modern assortment policy of enterprises in a highly competitive market and to develop measures for management decisions in the field of assortment policy of the enterprise. In order to achieve the goal, it is necessary to fulfill the following tasks: to study theoretical aspects of the management of the assortment policy of the enterprise; to define the basic methods of forming the assortment of production of the enterprise; to analyze methods of assortment policy according to criteria of managerial efficiency; outline measures to improve the company's product mix. In order to study the formation of the product range of the company used three main groupsmethods: methods of economic analysis; methods of determining consumer preferences; portfolio analysis methods. The object of research is PJSC “Vinnytsia Food Processing Factory”, which produces more than 50 products: table horseradish; mustard; mayonnaise; sauces; ketchup; Corn sticks; breakfast cereals with fillings; quick-cooked cereals; flour textured; bread kvass; vinegar dining room “Vinnitsa”; pet pack. All production processes are carried out on modern high-tech equipment of the leading European companies in strict conformity with the formulation and observance of all state standards. As a result of the analysis of the ABC rating of all products of PJSC “Vinnytsia Food Processing Factory”, it was established that in 2017, the Group A of the strategic production group included such products as horseradish, mustard, sauces. The given group of products brings more than 78% of the proceeds in the investigated enterprise. Group B refers to the production of cereals. This group brings to the enterprise 15.7% of the total proceeds. The latest types of products in Group C do not significantly affect the overall proceeds from sales. For the company there are three main areas of gaining competitive advantages: to become the best, to weaken competitors or to change the market environment. The developed SWOT analysis matrix allows us to formulate a list of priority measures that the company should take to improve its marketing environment. Taking into account the strengths and weaknesses of PJSC “Vinnitsa Kharchosmakovaya Fabrika” and combining them with the identified opportunities, one can outline the following strategies for the development of the company: expansion of assortment and nomenclature of products; development of the system of personal sales for wholesalers of products; creation and distribution of free advertising and information materials on the activities of the company and the conduct of the advertising company; increasing the market share of the company by creating new products and conquering new segments of the market.

References

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Kubyshyna, N.S., & Samokhvalova, Ye.O. (2006). Stratehichni aspekty formuvannia asortymentu tovariv na promyslovomu rynku. Stratehii innovatsiinoho rozvytku pidpryiemstv Ukrainy: Zbirnyk naukovykh prats. K.: Kyivskyi natsionalnyi universytet tekhnolohii ta dyzainu, 24 (in Ukrainian).

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Published
2019-05-11
How to Cite
Kaflevska, S., & Tomchuk, O. (2019). Management of assortment policy of the enterprise in market conditions. Scientific Messenger of LNU of Veterinary Medicine and Biotechnologies. Series "Economical Sciences", 21(92), 90-95. https://doi.org/10.32718/nvlvet-e9214