Increasing financial literacy of the population as an element of the product policy and risk management policy of a commercial bank

Авторами представляется принципиально новый подход к процессу повышения финансовой грамотности россиян - как к элементу продуктовой политики и политики управления рисками коммерческого банка. Сделан вывод о том, что финансовая неграмотность клиента не выгодна банкам, а повышение финансовой грамотности населения имеет исключительно положительные преимущества для всех участников финансового рынка. The authors present a fundamentally new approach to the process of increasing the financial literacy of Russians - as an element of the product policy and risk management policy of a commercial bank. It is concluded that the financial illiteracy of the client is not beneficial to banks, and the increase in the financial literacy of the population has extremely positive benefits for all participants in the financial market.

Product Policy and Neuromarketing in The Context of Slovak Consumer

The aim of this paper is to present a theoretical summary of product policy and neuromarketing, as well as to identify differences in the perception of quality and selected forms of promotion, which significantly affect the shopping behavior of Slovak consumers. The research sample consisted of 166 respondents aged from 18 to 60 years (53.6% men).

MECHANISM FOR IMPLEMENTING THE COMPANY'S PRODUCT POLICY

Search for the most advanced schemes and models of the Corporation's product policy, selection of tools and mechanisms for their adaptation to the conditions of a particular market. The importance of justifying marketing decisions for the development of such a policy is of increased interest to researchers in this issue. Originality of the research. Scientific novelty consists in the development of methodological recommendations and practical proposals for improving the product policy at the enterprise. Research result. The conceptual framework of market research studies and the role of product policy in the marketing development Corporation; the specificity of marketing researches for specific food market; conducted market analysis of market conditions and formulates the algorithm of development of commercial policy on the selected segment; modeled the mechanism of implementation of managerial decisions of the Corporation in the sphere of commercial policy in its implementation.

MECHANISM FOR IMPLEMENTING THE COMPANY'S PRODUCT POLICY

Search for the most advanced schemes and models of the Corporation's product policy, selection of tools and mechanisms for their adaptation to the conditions of a particular market. The importance of justifying marketing decisions for the development of such a policy is of increased interest to researchers in this issue. Originality of the research. Scientific novelty consists in the development of methodological recommendations and practical proposals for improving the product policy at the enterprise. Research result. The conceptual framework of market research studies and the role of product policy in the marketing development Corporation; the specificity of marketing researches for specific food market; conducted market analysis of market conditions and formulates the algorithm of development of commercial policy on the selected segment; modeled the mechanism of implementation of managerial decisions of the Corporation in the sphere of commercial policy in its implementation.

Formation of marketing strategies for innovative products at separate stages of their life cycle

The aim of the article. In the current market conditions, the main objectives of the product policy of the enterprise are to manage the competitiveness of products, adjusting their life cycles and assortment. For this purpose, the commodity strategy of the enterprise which is directed on achievement by the enterprise of target positions in the market by means of the products should be developed. The product is the subject of many management decisions: it is created, brought to market with the support of various marketing activities, if necessary modified and, if economically feasible, withdrawn from production. The aim of the article is to form marketing strategies for industrial products on the market on the basis of the developed classification of innovative goods depending on the level of their efficiency at separate stages of the product life cycle. Analyses results. The article develops the classification of innovative industrial products depending on the level of their efficiency at the separate stages of the product life cycle. The authors formed the recommended marketing strategies based on the proposed classification of products, depending on the range of levels of efficiency in which the product is. The article also presents the practical use of the developed recommendations on the example of the life cycle of the innovative electric motor of PJSC «Electromotor», which confirms their practical significance and suitability, allowing industrial enterprises to effectively manage their range. The article also builds a graph-analytical model of comprehensive efficiency indicators of an innovative electric motor, which allows to clearly track their dynamics over the entire period of its life cycle. Conclusions and directions for further research. In market conditions, each enterprise must determine the directions of formation and implementation of marketing product policy, taking into account the characteristics of each product. Forming a marketing product policy, the company must work on updating the range and bringing new products to market, because the right strategy for product range management will provide the desired volume of sales and corresponding profits. Thus, due to the proposed classification of goods at different stages of the life cycle, depending on the level of efficiency in which the product is or will be, the company can develop specific marketing strategies and tactics, including research and development (R&D), development of production, selection of sales channels, improvement of forms and methods of advertising, price regulation, development of new ones, modernization of existing and removal of obsolete inefficient products, etc. The use of effective marketing solutions can affect the duration and course of the product life cycle and consequently to achieve maximum profits. Keywords: efficiency, innovative product, product life cycle, marketing strategy, assortment management.

Tendencies in the Development of Enterprise Marketing Instrumentarium in the Context of Digitalization

Modern trends in the development of enterprises are formed under the influence of such factors as activation of globalization processes, growth of consumer requirements, unpredictability of the external environment, transformation of the world market conditions under the influence of the COVID-19 pandemic, strengthening of digitalization and intellectualization processes, development of artificial intelligence, etc. In the context of the formation of Industry 4.0, in order to maintain or strengthen competitive advantages, any enterprise must function taking into account the modern achievements of science and technology, especially in terms of the implementation of digitalization processes in its activities. When implementing digitalization processes, each element of the enterprise’s marketing complex undergoes transformations taking into account the development of digital marketing instruments and technologies. The article researches and analyzes the peculiarities of digitalization of the four main elements of the enterprise marketing complex (product policy, pricing policy, product distribution policy, and promotion policy). The following major trends that influence the formation of the product policy of companies in the context of the implementation of digitalization processes are highlighted and considered: the growing popularity of the digital currency and blockchain technology; digital transformation of banking operations; expansion of the information technology market; development of the network-based production. The advantages of automation and digitalization of the pricing process to accelerate product sales are displayed. It is emphasized that the spread of the COVID-19 pandemic has caused the greatest impetus to intensify the implementation of digitalization processes when choosing a product distribution system by the enterprise. In the communication policy, enterprises prefer to organize online marketing activities. The results of the research presented in the article can be useful for enterprises when choosing the most appropriate digital marketing instruments and technologies for each of the four components of the marketing complex, as well as improve future marketing campaigns in accordance with trends in the development of digitalization processes.

THE INFLUENCE OF MARKETING PRODUCT POLICY ON CONSUMER BEHAVIOUR IN CRISIS

The COVID-19 crisis radically changed the trends of the global economy, formed new consumer trends and forced companies to change their marketing strategy, in particular marketing product policy, because the introduction of social distance affected the social and economic life of the population and their consumer habits. The study of consumer behavior in the new economic realities will allow making timely adjustments to marketing product policy taking into account consumer trends and value priorities, as well as developing recommendations for the formation of marketing product policy based on the value proposition. To achieve this goal the impact of marketing product policy in times of crisis on consumer behavior was analyzed; consumer trends in times of crisis were identified; options for strategic decisions of product policy were considered and recommendations were developed for domestic producers on the process of improving marketing product policy in times of crisis; directions for forming and strengthening brand image and strengthening brand confidence were proposed. It is determined that only those enterprises that study consumer trends, act actively, maintain the image and win the favor of consumers will survive and develop in the future in the crisis. It is noted that it is necessary to plan the marketing product policy of companies taking into account the components of digital marketing. It has been proved that the improvement of marketing product policy should take into account consumer trends, ensure the value of the supply and require a strategic approach. This means that the decision on the brand should be made not only from the point of view of current interests, but also taking into account what the future of the company should look like. Improving the marketing product will allow companies to create relevant products, increase the efficiency of online sales, increase the brand image, make customer choices and influence consumer behavior, which will increase consumer satisfaction, trust in the brand, constant sales and stable profit. Further research is advisable to focus on the justification of consumer loyalty and loyalty to the brand. Certain provisions of scientific research can be used in the educational process and in the writing of scientific papers.

Tools of product policy as part of business marketing in the conditions of globalization

Research background: Marketing is one of the key process for a successful business, because it deals with gaining and retaining customers, without whom the business would not make sense. Effective marketing benefits not only the company, but also the customer, because it helps to find the product that customer needs at the right time, in the right place and at an acceptable price. The product is one of the basic tools of the marketing mix and it is anything that can company offer in the market to meet the needs. In relation to the product and the overall product policy of the company, the company and its management must make a lot of decisions. Globalization has had a significant impact on the company’s product policy as well as on the company’s overall activities in recent years. It is a process as a result of which markets and production in different countries become increasingly interdependent due to the dynamics of trade in goods, services and the mobility of capital and technology. Purpose of the article: The purpose of the paper is to point out the theoretical basis of product policy with emphasis on product policy tools. The paper also covers the impact of globalization on business marketing with an emphasis on product policy. Methods: Method of analysis, synthesis, comparison, induction and deduction. Findings & Value added: Literature research in the field of product policy and new knowledge in the field of product policy with emphasis on the impact of globalization.