Marketing development challenges in developing countries

Abstract

To be able to effectively manage changes, the management of modern enterprises is forced to constantly create new business opportunities and respond to the challenges that arise under the influence of a number of primarily technological and market factors. It is required from company managers to understand the sources of advantage, which has become considerably more complicated than before. Only a small number of companies, especially from countries in transition, have a harmonized organization and strategies that support research demands and sustainable business and marketing strategy creation. The transformation from traditional to socially responsible marketing is imperative to the success of both economy and society. The authors highlight the role and importance of a marketing manager for company's successful transformation into the system which should create and manage market. Based on specificity of markets of countries in transition, such as Serbia, they perform the analysis of challenges of marketing practice development, confirming the hypothesis that the level of both marketing development and market orientation significantly affects business and national competitiveness, and therefore the economic and social development.

Keywords

• marketing
• social business
• new business model
• sustainable development
• competitive advantage
• emerging markets