Factors of Survivability of Khabarovsk Territory Food Manufacturing and Processing Industry in Modern Conditions of Consumer’s Market Development

Abstract

AbstractPurpose The article is aimed at analyzing the current economic situation of the food market of Khabarovsk Territory and identifying the main factors that influence the increase in the survival rate of local food producers. Design/Methodology/Approach The methods used in the research include theoretical, statistical, regulatory, and legal data compilation on the status and development prospects of the food manufacturing and processing industry in the current state of Khabarovsk Territory consumer’s market; as well as the methods of systematizing the facts identified during the analysis of factors that affect the survivability of the enterprises of the region. The methods of mathematical modeling and factor analysis have been used to develop recommendations for price formation to ensure the survivability of food manufacturing and processing enterprises. Findings The modern food market of Khabarovsk Territory has been noted as a market with intense competition. Local enterprises face a number of problems and have to find solutions to ensure market survivability. The authors have identified and formulated some factors that allow increasing the survivability of enterprises. Effective pricing is considered as the most significant one. The price formation studies are held on the basis of the JSC DAKGOMZ as one of the examples of food manufacturing and processing industry. It has been concluded that enterprises should look for approaches and opportunities to overcome the problems in all aspects of their activities to survive and continue working in the market. Originality/Value Diversification of activity of local food manufacturing enterprises working at the territory of Khabarovsk Territory with the regard of the factors formulated in the article will ensure their survivability and further functioning in the market.KeywordsConsumer marketSurvivabilityFood manufacturing and processing industryCompetitionKhabarovsk TerritoryPricingJEL ClassificationD40D57L66