Assistant Professor of the Department of Marketing and MIA, Sumy State University (Sumy, Ukraine)
The aim of the article. The article examines the preconditions and prospects of import substitution implementation by native producers of machine-building industry. It is based on the analysis of the different countries experiences in import substitution implementation for their economic growth and renovation. The rational explanation of the import substitution strategy formation and implementation at the management level of enterprise development is given. It allows to form more clearly the mission and objectives of enterprise’s effective management in an unstable external environment.
The results of the analysis. The definition of the concept «industrial enterprise import substitution strategy» was formulated. The scientific and methodical aspects to the definition of the perspective directions for the import substitution strategy were developed. It allows to choose the best solution while considering the set of criteria.
The matrix «the group’s share in the product portfolio of an enterprise – the priority directions of the import substitution strategy realization» was developed using the method of hierarchies analysis. It helps to choose direction of the import substitution strategy implementation. According to the matrix it is possible to distinguish five zones in which it is ossible to choose the direction of the import substitution strategy implementation at industrial enterprises.
Conclusions and directions of further researches. It is proved that for the purpose of determining of strategically effective directions of industrial enterprise development it is advisable to use principle of «sales funnel» phased selection of promising groups of product portfolio according to the criteria «degree of market risk and the additional ratio of return per unit of risk investment». The analysis of these indicators provides an opportunity to identify risk of attractive investment project and growth of the commodity portfolio groups relatively to the market. Its informed decision will provide economic benefits for the owners and investors.
Keywords: export, import, strategic business development, strategy formation, strategy of import substitution, management of trademark portfolios, matrix, perspective direction
JEL Classification: M21, L10.
Cite as: Vashchenko, T. (2015). The implementation of the import substitution strategy as the key to the development of export potential of industrial enterprises. Marketing and Management of Innovations, 3, 200-211. https://doi.org/10.21272/mmi.2015.3-18
This work is licensed under a Creative Commons Attribution 4.0 International License
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