Klaipėdos universitetas

The purpose of this paper is to provide an overview of the most current problems and issues in marketing management. As all enterprises deal with various difficulties in their business planning, implementation and control, these issues and problems have to be recognized, dealt with, and solved. Most of the business strains will have a lot to do with diverse marketing aspects, as marketing is the main link between enterprises and their markets and customers; strategically mappedand implemented marketing helps to create competitive advantage and pave the way for success, but different problems can endanger firms’ marketing process, thus in today’s volatile business environment marketing executives have to bear in mind and deal with various facets of the marketing in rapidly changing world.

Creation of strong brand and increment of brand’s equity in the market is main goal of business. Usage of brand equity concept allows brand owners to sell branded products at higher price, gain greater market share, better promote products in the market, penetrate in market more easily, acquire more loyal consumers, improve effectiveness of marketing communications and enlarge product lines more successfully. Therefore for last 20 years brand’s equity conception, that consists from financial and consumer perceived brand’s equity, has become increasingly actual. It is also important task for brands in Latvian cosmetics market, because market itself is strongly saturated, highly competitive, and brand communication is very active, and therefore this kind of market requires brands to create their own unique approach, so they could stand out and successfully compete with other brands.

This article reflects the impact of regulatory decisions of the Republic of Latvia on the food retail sector and sustainable product supply provided by food retail chains, as well as on operational trends. Attention has been drawn to the law of the Republic of Latvia on the key characteristics of foodstuffs and sales on the market. The research covers development of classification of the main instruments characterizing the products subject to the national regulation, as well as development of a scheme of the impact of the Latvian authorities on the operation of food retail chains. To implement the goal and tasks of the research, the authors have applied quantitative and qualitative research methods of economics, i.e., comparison, grouping, graphical, assessment and analytical methods. The research is based on the results of the previous research conducted by the authors so far, the law of the Republic of Latvia, scientific works published by other scientists, general and special literature and periodicals. The authors have summarized the findings and conducted comparative analysis of the regulatory decisions of the Republic of Latvia as well as presented a market survey within the research.

The research aims to update the corporate marketing role in promoting sustainability. The study is based on the assessment of today’s economic, ecological, and social responsibility issues, as well as public issues associated with the development of sustainability. The following scientific research methods have been applied in the research: analytical, comparing, graphical, statistical and surveillance methods. The authors have studied sustainability issues, i.e., economic, environmental and social, in the world and particularly in Latvia, as well as their impact on public welfare. In research, there was chosen and analysed the Latvian food retail industry, which makes a significant contribution to the economy of the trade sector. Companies, which take on social responsibility, should focus in their activities on the education of consumers. Using marketing communications, they can educate their consumers about ecological characteristics of products and their environmental impact on the public health, i.e., composition of products, acquisition, storage, use and disposal possibilities, also putting great emphasis on the Latvian products. Thus, companies can support the domestic market and promote sustainable development of the Latvian economy in general.

Innovation development process in companies is described by several challenges. One major problem is that there is much confusion about what it takes to develop innovations and what factors affect the innovation development process. The paper focuses on innovation process’ affecting factors in Latvian market. The paper’s goal is to identify main factors that affect the innovation process the Latvian companies. After surveying 128 companies, authors concludes that many factors affects innovation process and none of them should be ignored. Following factors affect innovation process the most and therefore should be analysed more deeply: 1) The company’s own resources; 2) High employees knowledge, competencies, skills and experience; 3) Investors’ attraction opportunities. Research also emphasises importance of company’s human resource, therefore authors suggest companies to look at their employees from different paradigm and approach them as the most valuable company’s asset.