PRODUCT PORTFOLIO STRATEGIC PLANNING WITHIN ROMANIAN SMEs – THEORETICAL MODELS FOR SUSTAINABLE COMPETITIVE GROWTH

Florin Tudor Ionescu () and Andreea Mihaela Barbu ()
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Florin Tudor Ionescu: Faculty of Marketing, Bucharest University of Economic Studies, Romania
Andreea Mihaela Barbu: Faculty of Marketing, Bucharest University of Economic Studies, Romania

No 29, Social Responsibility, Ethics and Sustainable Business from Bucharest University of Economic Studies

Abstract: The selection and diversification of the product portfolio is critical for SMEs who want to successfully fulfill their general objectives and strategy and also have a competitive advantage within the market. Considering the limited resources and the dynamic changes that occur within the marketing environment, we can say that the selection and diversification process of the product portfolio rise big challenges for SMEs. However, these difficulties are specific not only to SMEs, but also to big companies within Romania, as due to the economic crisis, they have to re-think their marketing strategies in order to cope with the major changes in the business environment. Thus, in order to meet organizations’ needs, over time there have been developed a series of tools and instruments, which are the results of scientific research undertaken by academics in certain areas such as marketing, management, accounting, finance etc. In addition, the academics proposed various strategic decision-making models in order to facilitate the correct construction of product portfolios. Following this scientific approach we have identified a number of the most representative theoretical models to assist top manager’s decisions. More specifically, it's about four theoretical approaches, known within the marketing and management literature under the following names: The Chu, Hsu & Fehling Model, The De Maio, Vergata & Corso Model, The Englund & Graham Model and The Cooper Model. Based on these frameworks the authors propose a conceptual model on the selection and diversification of the product portfolios that suits the particularities of the SMEs within Romania and the managers’ manner and style of adopting decisions. This theoretical model represents an attempt to simplify and also to better organize the process of new product portfolio strategic planning. As such, the SMEs may apply the model, whenever they identify the need to diversify their product portfolio.

Keywords: product; portfolio; planning; SMEs; Romania; models; competitive (search for similar items in EconPapers)
Date: 2012-10
New Economics Papers: this item is included in nep-sea and nep-tur
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Published in Working Papers Series on Social Responsibility, Ethics & Sustainable Business

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