MATRIX FORM OF FORMULATION OF BUSINESS-MARKETING DETERMINATIONS IN CONDITIONS OF COVID 19 PANDEMIC

• Published in: Časopis za Ekonomiju i Tržišne Komunikacije Vol. 22; no. 2
• Main Authors: Aleksić, Jana, Landika, Mirjana, Jakupović, Esad
• Format: Journal Article
• Language: English
• Published: 01.12.2021
• ISSN: 2232-8823; 2232-9633
• DOI: 10.7251/EMC2102389A

Economics is a science based on the choice of business alternatives in the circumstances that characterize the analyzed business environment. Various circumstances are not under control of business decision-makers, but they must be considered and respected by them. It is known that the environment is an indispensable part of the business system and that their permanent interaction is present. The environment can be convinient and inconvinient for certain business systems, where top business ingenuity means adapting the business system to the environment and finding opportunities for functional progress, regardless of the environment. Business circumstances are experiencing revolutionary changes caused by the emergency situation related to the spread of COVID - 19 virus, with almost all business systems being affected by new and unexpected circumstances. The degree and form of business conditionality ranges from disastrous to favorable, but it is also determined by the ingenuity of business management, and not only by the appearance of a global pandemic. Modeling the business strategies according to the degree of impact conditioned by the nature of the activity requires the formulation of a payment matrix and thus the selection of the optimal business strategy in line with the capabilities of the business system. Marketing commitments are an instrument of rapprochement with users of products and / or services of the business system and logically arise from strategic commitments. The research task is to formalize the modelling of business systems strategic behaviour in the field of composing marketing activities cohering with the impact degree of economy conditions on business and the need for additional efforts to establish a new form of business to amortize the consequences of new circumstances. The matrix formulation of strategic solutions, intersected with the newly created circumstances expressed in the form of the conditionality degree of business activities to epidemiological circumstances, enables the selection of optimal business in accordance with business opportunities. More developed business systems that already use internet marketing and social media marketing have risen and positioned themselves in the market and as such their business will have the best chance of surviving a pandemic period. Marketing activities are to be adapted to the target market, where it is clear that the online market operates perfectly in circumstances other than analysed, globally more significant than in the analysed territory, where marketing would enable market expansion and preparation for standardization of created online or contactless offer, and thus prepare the market and users for the future business. The world will operate on the principle of raising awareness in various ways to overcome the negative impact formed in the global pandemic and this includes openness to: new technologies, online business, new techniques for changing beliefs, classical education, basic education in business economics, psychological topics to strengthen the mental state and immune system, as well as many others, which will have a positive impact on each individual as well as on companies as systems.