Business: Theory and Practice 14(1): 74-82, doi: 10.3846/btp.2013.09
The Optimization of Marketing Costs’ Structure as a Prerequisite for Business Sustainable Development
expand article infoIndrė Lapinskaitė, Aleksandras Rutkauskas
Open Access
Abstract

The idea of quantitative measurement of sustainability is revealed in this article. This idea is based on outlining the possibility of the event or the process, taking into account both possibility of efficiency and reliability of effectiveness. For the selection of appropriate compositions of efficiency and reliability for a particular subject an adequate idea of the utility function was used. Markovitz random field makes it possible to optimize the allocation of existing resources for the marketing costs between the components of marketing structure. Technically, the task is formulated as formulation of an adequate investment portfolio with investment assets by choosing 5P elements of marketing structure components ensuring the transformation of used investment to marketing capability ensuring assets. Based on the principles of stochastic informative expertise, the indicators of effectiveness of before mentioned assets were obtained, describing how invested units of input transforming the single P component of marketing costs adequacy to the final business results. Also affinities and differences of sustainability’s concepts are pointed out.

Keywords
sustainability; marketing mix elements; FMCG; optimal resource allocation; stochastical optimization