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International Business Research; Vol. 6, No. 6; 2013 ISSN 1913-9004 E-ISSN 1913-9012 Published by Canadian Center of Science and Education 105 Analysis of the Quality of Strategic Marketing Planning in Trading Companies in Bosnia and Herzegovina Beriz Č ivi ć 1 1 Faculty of Economics, University of Tuzla, Tuzla, Bosnia and Herzegovina Correspondence: Beriz Č ivi ć , Faculty of Economics, University of Tuzla, Univerzitetska 8 Street, 75000 Tuzla, Bosnia and Herzegovina. Tel: 387-35-320-820 or 387-61-234-214. E-mail: [email protected] Received: March 23, 2013 Accepted: April 27, 2013 Online Published: May 17, 2013 doi:10.5539/ibr.v6n6p105 URL: Abstract The main aim of this paper is the analysis of features of strategic marketing planning and the assessment of the quality of this process in business practice of trading companies in Bosnia and Herzegovina (BiH). The method used in assessing the quality of the creation of marketing plans in trading companies was the multivariate analysis (method of discriminant analysis). Among other things it has been established that marketing management of trading companies does not create marketing strategies on a formalized and systematic basis. It has also been established that the possibilities for improving business profitability and timely perception of the occurrence of unexpected business processes are the two determinants that have the strongest effect on marketing managers in trading companies and their preparedness to formalize their process of strategic marketing planning and establish it on a systematic approach. Keywords: marketing strategy, planning, trading companies 1. Introduction Regardless of the complexity of their business environment, certain companies at a given moment have better reactions to market challenges, when compared to their competitors. The thing that represents the source of the companies’ successfulness and enables them to be more successful than others is the appropriate business strategy. Bearing in mind the key role which marketing decisions have in the development of market position and total business performances of the company, one can understand the need for focusing the modern management on providing the company’s appropriate marketing strategies. In order to successfully manage business processes under modern business conditions, the management must link marketing and strategy as the basis for determining long-term goals, setting the guideline for the actions by which the company is led from the present to the future desired position, and defining the framework for involving resources necessary for achieving the desired business performances. Namely, company’s marketing activities should be, on the one hand, based strategically, but on the other hand, the company’s business strategy needs to be led by the market and customers’ needs with appreciating competition activities and lines coming from the macro-economic environment.

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