The competitiveness research at "Duna-Vesta" Ltd on the hosiery market and directions for the development justification of its marketing activities
Students Name: Zatvarnytska Svitlana Olehivna
Qualification Level: magister
Speciality: Marketing
Institute: Institute of Economics and Management
Mode of Study: part
Academic Year: 2022-2023 н.р.
Language of Defence: ukrainian
Abstract: The company’s competitive position on the market is determined by its competitiveness. In scientific publications, there is no unambiguous approach to defining the essence of this concept [1, 2, p. 104-105] and in order to assess the competitiveness of the enterprise, various methods are proposed [3, p. 112-113, 4, p. 407-409]. An important component of an enterprise’s competitiveness, which is also influenced by other components, is the competitiveness of its products, which is determined by the enterprise’s marketing activities [1]. In order to increase their competitiveness on the market, enterprises must implement the concept of socially responsible marketing in all areas of their activity [5, p. 32]. Study object – the marketing activity of "Duna-Vesta" Ltd on the hosiery market from the point of view of forming the competitiveness of this manufacturer on the market. Scope of research – the theoretical and methodological foundations of the formation of the enterprise’s marketing activity on the market and its impact on the enterprise’s competitiveness in the direction of its improvement. Goal of research: analysis of the competitiveness of "Duna-Vesta" Ltd, its marketing activities from the point of view of the formation of competitive advantages of this manufacturer of hosiery products on the market and justification of its development directions in order to improve competitive positions on the market. The research findings. "Duna-Vesta" Ltd is the only domestic manufacturer with a full range of hosiery and socks on the market. It sells its products under such brands as DUNA, ACCENT, FURIA. According to the level of technical equipment, "Duna-Vesta" Ltd is the leader in Ukraine among similar enterprises. Thanks to the developed composition of products and the use of modern production technologies, the products of the enterprise under study are characterized by wear resistance, durability, comfort in wearing, they meet all existing hygienic requirements. However, compared to competitors, the prices for "Duna-Vesta" Ltd products are quite high. The enterprise under study mainly supplies its products to the domestic market, but recently it has been actively exported abroad and is in demand in other countries, in particular in Lithuania and Moldova. For the sale of products, with the aim of reaching consumers of various market segments, "Duna-Vesta" Ltd uses mixed channels - its own online store, a network of branded stores and retail intermediaries. "Duna-Vesta" Ltd uses all components of offline and online communications to promote products and inform intermediaries and end consumers. The hosiery market in Ukraine is one of the most developed and dynamic consumer goods markets, the demand for which is seasonal. The competitive advantage of "Duna-Vesta" Ltd in the hosiery market is the high image of the company, knowledge of consumers, a wide range of products, a wide distribution network, availability of product quality certificates, effective advanced technologies and modern equipment, significant experience in practical activities. A marketing study was conducted to determine the needs of consumers of hosiery products and to establish directions for increasing the competitiveness of their manufacturers. It was established that the most important characteristics of socks, according to the interviewees, are product quality, product composition, color scheme, durability of socks, their price and design. The most important component of an enterprise’s competitiveness is the competitiveness of its products. To determine the competitiveness of "Duna-Vesta" Ltd socks, the consumer utility function was used. It was established that in order to increase the competitiveness of these products, this enterprise should expand its range, improve the design of this type of product, and consider the possibility of reducing its price. The results of the SWOT analysis show that in order to increase its competitiveness on the market, "Duna-Vesta" Ltd should improve its marketing activities, in particular, maintain product quality at the appropriate level and develop measures to improve it, strengthen existing brands, offer new innovative products on the market products, taking into account the changing needs of consumers, to expand the product range of the enterprise at the expense of products of a lower price category, to improve the design of products, to develop measures aimed at strengthening the positive image of this enterprise using measures of socially responsible marketing, to search for opportunities to enter new geographic markets, develop new product promotion programs with an emphasis on their quality. Based on the hosiery positioning schemes of "Duna-Vesta" Ltd, it is recommended to expand the range of men’s demi-season socks by military-style socks, and women’s by socks with national motifs, and to conduct measures to stimulate their sales, which will increase consumer loyalty to such goods and the competitiveness of the enterprise under study. Key words: hosiery market of Ukraine, enterprise competitiveness, marketing activity, product competitiveness, consumer utility function, product positioning, sales promotion. References. 1. Pronko L. M., Tokar K. S. Marketynhova stratehiia u formuvanni konkurentospromozhnosti pidpryiemstva. Efektyvna ekonomika. 2022. № 4. URL: http://www.economy.nayka.com.ua/?op=1&z=10164 (data zvernennia: 04.10.2022). DOI: 10.32702/2307-2105-2022.4.73. 2. Uzhva A.M., Dovhal O.V. Kholistychnyi pidkhid do upravlinnia konkurentospromozhnistiu pidpryiemstva. Ukrainskyi zhurnal prykladnoi ekonomiky. 2019. T. 4, № 1. S. 102-108. 3. Kvasko A.V. Analiz metodiv otsinky konkurentospromozhnosti pidpryiemstva. Naukovi zapysky Ukrainskoi akademii drukarstva. 2017. № 1 (54). S. 111-118. 4. Shved T.V., Bila I.S. Otsinka konkurentospromozhnosti pidpryiemstva. Ekonomika i suspilstvo. 2017. Vyp. 8. S. 405-410. 5. Kosar N.S., Yarychevska Ya.I. Zakhody sotsialno-vidpovidalnoho biznesu u realizatsii kontseptsii marketynhu tsinnosti. Menedzhment ta pidpryiemnytstvo v Ukraini: etapy stanovlennia i problemy rozvytku. 2021. № 3 (1). S. 24-38. DOI: 10.23939/smeu2021.01.024.