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8INTERNATIONAL SCIENTIFIC JOURNAL VOLUME 1 ISSUE 7 UIF-2022: 8.2 | ISSN: 2181-3337
WAYS TO USE MARKETING INFORMATION IN THE PROCESS OF ENTERPRISE
EVALUATION Musayeva Shoira Azimovna,
Professor of Samarkand Institute of Economic and Service, Samarkand, Uzbekistan Mukhtorov Samadjon Abdusattor oglu
Master of Samarkand Institute of Economics and Service https://doi.org/10.5281/zenodo.7230260
Abstract. In this article, the systematic risk analysis, investment, inflation rate, country's economic growth rates, changes in interest rates, changes in currency exchange rates, level of political stability, sales markets and competitive conditions were considered in the evaluation of the enterprise.
Keywords:Enterprise, business, inflation, information, valuation, currency, demand, supply, price.
СПОСОБЫ ИСПОЛЬЗОВАНИЯ МАРКЕТИНГОВОЙ ИНФОРМАЦИИ В ПРОЦЕССЕ ОЦЕНКИ ПРЕДПРИЯТИЯ
Аннотация. В данной статье при оценке предприятия учитывались системный анализ рисков, инвестиции, уровень инфляции, темпы экономического роста страны, изменения процентных ставок, изменения курсов валют, уровень политической стабильности, рынки сбыта и конкурентные условия.
Ключевые слова: Предприятие, бизнес, инфляция, информация, оценка, валюта, спрос, предложение, цена.
INTRODUCTION
It is very important to prepare the necessary information base for enterprise business evaluation. The information used in the assessment process must meet the requirements of reliability, accuracy and systematicity. At the same time, it must reliably reflect the situation in the enterprise, clearly correspond to the goals of the assessment, and comprehensively take into account the external conditions of the activity of the assessed enterprise.
There are ways to organize the collection and preparation of information, such as chronological, journalistic, logical.
MATERIALS AND METHODS
The chronological way of collecting information implies a consistent transition from the past to the future. During the evaluation, the study of production should begin with the history of the establishment of the company.
Journalistic wayrefers to the arrangement of material from the most important to the least important. In the analysis of financial information, there is usually no point in using all the retrospective (multi-year) information, and it is necessary to focus on the most important ratio or coefficients.
Logical orderrefers to the distribution of information from public to private or from private to public. Before starting the analysis of the evaluated enterprise, it is necessary to conduct an information review that allows to determine the investment environment in the network.
Business valuation is based on the analysis of the value of the enterprise as an investment product, that is, taking into account past costs, current situation and future opportunities. To
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implement such a complex approach, it is necessary to collect and analyze a large amount of information, which can be classified as follows:
• external information describing the conditions of the enterprise's operation in the region, industry and economy as a whole;
• internal information that allows you to have an idea about the activity of the evaluated enterprise.
The analysis of this information should be based on the following sequence of investment analysis: macroeconomics - industry - enterprise (company).
The normal operation of the business is based on the optimal combination of financial resources for the realization of the volume of sales, profit and planned growth, which is largely determined by the external conditions of the enterprise. They include macroeconomic and industry factors, such as: inflation rate, country's economic growth rate, competitive conditions in the industry, etc.
External information describes the conditions of operation of the enterprise in the network and in the economy as a whole.
The extent and nature of external information varies depending on the assessment objectives. When compiling the report, it is necessary to show that the information base collected and studied by the appraiser is necessary and sufficient to give a final conclusion about the value of the enterprise. It is necessary to provide information in an optimal volume and in a manner directed to the evaluated object.
Macroeconomic indicators should contain information about how the current economic situation affects or shows the activity of the enterprise and describe the investment environment in the industry. Depending on the purpose of the assessment, the macroeconomic commentary can be separated as a separate section of the assessment report or considered in the general explanation of the report.
Macroeconomic risk factor creates systematic risk arising from external events affecting the market economy, and it is impossible to eliminate this risk through diversification (reduction of risk through portfolio investments and purchases of a wide range of securities).
Danger- this is the level of accuracy, which describes the ability to achieve the expected results in the future. Risk factor analysis is subjective in nature. Belief in the future growth of the company makes its current value higher than a pessimistic forecaster, analyst. In other words, the wider the spread of expected future returns around the best price, the riskier the investment. Differences in risk assessment lead to multiple conclusions about enterprise value.
RESULTS
The present value of a high-risk enterprise is similar but lower than the present value of a low-risk enterprise. Most of the valuation orders are related to the analysis of closed-end companies, whose owners do not diversify their stocks as much as the owners of public companies. Therefore, in the assessment of a closed type enterprise, in addition to the systematic risk analysis, unsystematic risk factors should also be taken into account. These include industry risks and investment risks in a particular enterprise. The main factors of macroeconomic risk are:
• inflation rate;
• the economic growth rate of the country;
• changes in interest rates;
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• currency exchange rate changes;
• level of political stability.
The main factors of risk related to the industry: regulatory framework, sales markets and competitive conditions.
The directions for collecting and analyzing network information can be represented in the form of a diagram (Figure 1).
Figure 1.
Directions for network information analysis
Regulatory frameworkit is determined taking into account the presence of restrictions on entering the network in enterprises. If network average data on key financial ratios are available, they should be used in the evaluation process. Comparing the data of the evaluated enterprise with similar indicators of other enterprises of the network is an important step in researching the network, because it allows to determine the rating of the evaluated enterprise, to make reliable forecasts regarding the required amount of utility and costs.
Main sources of information:
• data of statistical authorities;
• Laws of the Republic of Uzbekistan;
• network newsletters;
• business plan.
Sales markets.Supply, demand, price are important means of regulating the market economy. Achieving a balance between supply and demand determines both the overall macroeconomic balance and the specifics of product sales. Four alternative strategies can be used to analyze the strategy chosen by the enterprise for the sale of goods:
1. Entering the emerging market with products produced by competitors.
2. Development of the market due to the establishment of new market segments.
3. Development of new goods or improvement of previous goods.
4. Diversification of the manufactured product to master new markets.
A forecast of the volume of products sold is made depending on the strategy of selling goods. Constraints in the implementation of the selected strategy: the volume of demand and interactions with suppliers attract special attention of evaluators.
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In the process of gathering information, relations with suppliers deserve special attention from the point of view of legal clarity of contracts and their reliability.
The purpose of collecting this information is to determine the potential of the market for the sale of goods in the country (if necessary, abroad): the volume of sales at current prices, data on the last 2-5 years on the evaluated enterprise, the volume of sales at current prices on competitors, sales markets in the Republic of Uzbekistan and abroad expansion projections.
Main sources of information:
• marketing information of the evaluated enterprise;
• data of the statistical agency;
• network information publications;
• periodical economic press;
• business plan;
• personal relationships.
Terms of competition.A market economy is characterized by imperfectly competitive markets. Because, in them, the free competitive price formation mechanism has serious limitations. The assessment of the competitiveness of the enterprise is carried out taking into account the nature of the market, that is, the presence of restrictions on the entry into the network of competitors producing substitute goods. Analysis (in natural and value expressions) of the volume of production of competing goods, information about the share of the sold product in the total volume of production in the region or in the network as a whole, description of competitors' products (volume, quality of service, prices, sales channels, advertising), as well as the price of this product must be filled with the list of main importers in the country.
Main sources of information:
• marketing information of the evaluated enterprise;
• data of statistical authorities;
• dealer firms;
• customs department;
• network information publications;
• business plan.
The level of reliability of the information sources listed above varies when analyzing network information. Therefore, one question can have different answers.
Internal information should fully describe the activity of the enterprise being evaluated, and contain complete and accurate information about it in order to understand the unique characteristics of the enterprise.
This information package includes:
• information about the history of the enterprise,
• marketing strategy of the enterprise;
• description of suppliers;
• production capacities;
• workers and management staff;
• internal financial information (accounting balance sheet information, reports on financial results and cash flow for 3-5 years);
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• other information.
If the enterprise has developed a business plan, then the basic information about the enterprise is given, these are the types of activities, the description of the industry, the main indicators of the current financial situation of the enterprise, etc. In addition, the following information should be included in the business plan: organizational and legal form, amount of authorized capital, small shares of authorized capital, information about owners of control packages of shares, belonging to concerns, associations, holdings of the enterprise.
Company history.In this section, information about the production process of each type of product, the history of the establishment and development of the enterprise, etc. should be provided.
Marketing strategy of the enterprise.The marketing strategy of the enterprise is determined by external factors, as well as the period of the life cycle of the manufactured goods and the availability of production capacity.
When analyzing the company's marketing strategy, it is necessary to compare the following information:
• sales volumes in the past (retrospective), current and forecast periods;
• cost of goods sold;
• prices of goods and services, their dynamics;
• predicting changes in demand volumes;
• production capacity.
Production capacities.The volume of the produced product is determined, on the one hand, by the demand for it, and on the other hand, by the availability of production facilities for its production. Therefore, especially when making forecasts, it is necessary to take into account information about the availability of production capacity in the enterprise, taking into account future capital investments.
Workers and management staff.This factor of production has a great impact on the value of the enterprise. In closed-type enterprises, the labor of employees can be partially compensated by shares (service profit participation program), and the employees of the enterprise can participate in this as the owner of the enterprise with a certain package of shares.
The manager of the enterprise is the key person who can ensure the effective management and development of the business. This fact must be taken into account during the evaluation process, in particular, when calculating the discount rates, because in the event that the enterprise is sold, its plans for its future activities may change.
An important aspect of the analysis of this department's information is the level of wages in the enterprise compared to the average data for the industry. Differences in a greater or lesser degree should be considered for the purpose of determining the characteristics of the business being evaluated, and adjustments may be made to it during the reconciliation of accounts.
Depending on the goals of the assessment, the directions of analyzing the financial situation of the enterprise may change. If the value of the minority (non-controlling) package of the company's shares is being evaluated, then the potential investor is more interested in the forecast value of the company's profitability, its ability to pay dividends.
DISCUSSION
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In any enterprise, especially in a closed enterprise, it is necessary to use a set of important documents for evaluation work, as well as information obtained directly from the managers of the enterprise.
The purpose of collecting internal information is as follows:
• analyzing the history of the enterprise in order to identify future trends;
• gathering information to forecast sales volumes, cash flows of profits;
• taking into account risk factors specific to the business being evaluated;
• analysis of financial documents;
• interviews with managers and gathering additional information that allows for a more accurate assessment.
The market economy has a volatility classification. Enterprises adapt their activities to the requirements set by him. This process requires the development and implementation of marketing research in the enterprise. As a result, it provides quick and efficient management of activities.
CUNCLUSIONS
Therefore, under the influence of the external and internal environment, enterprises are forced to conduct their activities in the direction of marketing. Economic analysis methods are widely used in marketing research. The analysis of commercial activity in the enterprise is closely combined with the marketing function. In this function, the analysis of the market where the company's goods are sold, food producers and consumers, competitiveness, offered service, demand and sales, price formation policy, internal and external environment in general is used as a methodological basis. The result provides the development of strategy and tactics and corresponding programs.
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