M21 - Business EconomicsReturn
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Optimization potential in SME marketing communication in a Czech-German comparisonEnz ChristianEconomics Working Papers 2022, 6(3):4-71 | DOI: 10.32725/ewp.2022.003629 Technological progress ensures a growing number of communication channels. National and international corporations use the new tools for intensive customer communication. SMEs therefore are in danger of disappearing from their consumers' field of vision. This paper examines the current communication behavior of SMEs. Future developments also are identified. The analysis of a large-scale survey of companies shows that the number of communication channels used depends on the size of a company. It is found that SMEs currently use fewer communication channels than large companies. Marketing communication is also much less professionalized in small companies. For example, this paper shows that only 25% of companies with an annual turnover of less than 2 million euros have their communication budgets. For SMEs with an annual turnover of 10 to 50 million euros, the share is already 58%. The importance of communication channels, on the other hand, depends on the regional context of the company's headquarters. Thus, the prioritization of certain communication channels is significantly dependent on the region in which a company is located. However, the research shows that SMEs across regions and size categories are aware of changes in the media use of their target groups. Nevertheless, many SMEs do not want to or cannot use all communication channels considered relevant in the future. This is equally evident among Czech and German SMEs, although German companies use more communication channels on average than Czech ones. This study also shows that SMEs are generally not willing to increase their marketing communication staff at present. This means that SME management faces the challenge of setting the correct priorities in customer communication. On the German side, the focus is on weighting. For Czech companies, the focus is on channel selection. This paper thus shows that there is potential for optimization for Czech and German SMEs. If it is possible to optimally reflect regional peculiarities in the use of media in the communication mix, efficiency increases and even the development of a competitive advantage over large companies is possible. |
Future perspectives of independent pharmacies in the Czech Republic - Comparative analysis of selected financial indicators of independent pharmaciesPísek JaroslavEconomics Working Papers 2020, 4(1):5-45 | DOI: 10.32725/ewp.2020.001422 Objectives: To evaluate the performance of independent pharmacies in the Czech Republic based on analysis of the latest available financial data of the sample of pharmacies. Methods: The comparative analysis of pharmacies and their financial indicators in the period from 2013 to 2017 in a randomly selected sample. Results: Randomly selected sample includes nine micro-enterprises; one pharmacy operated in the commercial centre; a polyclinic pharmacy and eight community pharmacies. The company-specific table contains nineteen figures, seven ratios and three growth rates. Conclusion: A review of performance in the independent pharmacy segment based on financial results shows good financial status in most pharmacies examined. Seven companies in the sample have performed very well. Reducing personnel costs in the other two can achieve a balanced or profitable economy. Only one of the pharmacies is over-indebted and threatened by insolvency. The perspectives of operating independent pharmacies seem to be positive based on historical results and expected changes in the near future. Key words: Pharmacies, Financial management, Economic competition. JEL classification: G32, I11, M21, M41 |