Original scientific paper

KNOWLEDGE MANAGEMENT IN THE MARKETING OF SMALL AND MEDIUM ENTERPRISES

Brano Markić ; Faculty of Economics, University of Mostar, Mostar, Bosnia and Herzegovina
Sanja Bijakšić orcid.org/0000-0003-4574-7610 ; Faculty of Economics, University of Mostar, Mostar, Bosnia and Herzegovina
Arnela Bevanda ; Faculty of Economics, University of Mostar, Mostar, Bosnia and Herzegovina

Abstract

Knowledge management is a general concept of organizing, extracting, deployment and use of
knowledge within organization. The concept of knowledge management is acceptable and applicable not only in large organizations but also in small and medium enterprises. Knowledge about customers and their attitudes on products and services, promotion and advertising results, market demand and competition are primarily in the focus of marketing business function. Therefore small and medium enterprises need to manage and exploit knowledge in order to remain competitive and get a maximum return. A huge amount of data enters an organization and is stored in various documents and forms. The paper deals with data organization for the purpose of knowledge extraction and its use in creating a successful marketing strategy and plan in small and medium enterprises. It is the tacit knowledge based on the experience of marketing experts. The paper presents an applicable concept of knowledge acquisition and its transformation into valuable assets of small and medium companies.

Keywords

knowledge management; marketing strategy; tacit knowledge; explicit knowledge

Hrčak ID:

133984

URI

https://hrcak.srce.hr/133984

Publication date:

19.12.2014.

Article data in other languages: croatian

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