The role of marketing in corporate restructuring in crisis period

Abstract

The main objective of this paper is to analyse the role of marketing in the process of company restructuring, especially in times of crisis. This is a very complex issue and for Serbia very important one given that the contemporary conditions of performing business and the large number of enterprises which should undergo the process of restructuring. Many of the so far implemented the restructuring process were based on the reduction of operating costs and contraction of certain business activities. However, without providing sales sufficient high-level all other activities related to the company restructuring seems to have little long-term chances for success. Therefore, it appears that the 'question of all questions' for continuation and efficient business operations, especially in times of crisis, are precisely the fundamental changes in the field of market operations based on a wider encouragement and application of marketing concept. Bearing this in mind, the role of marketing within the restructuring is, based on the principles and techniques of strategic marketing management, to enable the identification of target markets (where a company can achieve a competitive advantage), define a more attractive business and product portfolio, and take appropriate action that would support the successful sales of products (and services) on the market.