METHODS FOR EVALUATING THE COST-EFFECTIVENESS OF MARKETING RESEARCH IN AGRIBUSINESS: ACCOUNTING AND ANALYTICAL APPROACHES

Abstract

The dynamic and competitive present conditions in agribusiness markets necessitate effective management of marketing research expenses to maximize profitability and sustain competitive advantage. Given the vital role of marketing insights in strategic decision-making, the efficient allocation and control of marketing research costs have become essential for agribusiness enterprises. This study addresses the current limitations in accounting practices for assessing the effectiveness of marketing research investments in agribusiness. The lack of a structured approach for monitoring, analyzing, and optimizing these expenditures hinders agricultural enterprises' ability to make financially grounded decisions regarding marketing activities and resource allocation. The primary purpose of this research is to develop a methods framework for assessing the cost-effectiveness of marketing research expenditures within the agribusiness sector, using a combination of accounting and analytical approaches. By establishing clear criteria for evaluating marketing expenses, this study aims to enhance the decision-making process in agribusiness enterprises, enabling them to identify and focus on the most productive marketing channels and activities. The research employs a multi-faceted methodology that integrates economic analysis and accounting modeling. The methods of analogy, synthesis, and comparative analysis were applied to evaluate existing practices and design an improved accounting model that accommodates the unique operational requirements of the agricultural sector. The study presents a set of practical guidelines and key performance indicators (KPIs) for evaluating marketing expenses, emphasizing the importance of accounting for the specificities of digital and traditional marketing channels used in agribusiness. The proposed classification includes traditional marketing costs and new digital marketing expenditures, such as search engine advertising, social media marketing, and collaborations with influencers on agricultural platforms. By understanding marketing expenses, the study provides an actionable framework that supports agribusinesses in tracking their marketing investments and improving the return on their marketing budgets. The findings of this research underscore the need for a specialized approach to marketing cost management within agribusiness. The proposed accounting and analytical framework enables agricultural enterprises to optimize their marketing expenditure, align their investments with strategic goals, and strengthen their competitive positioning in the market. The recommendations offered in this study support the development of robust accounting practices that can be integrated into agribusiness management systems, promoting sustainable growth and resource efficiency. Future studies could expand upon this work by exploring the integration of real-time analytics and AI-driven insights for enhanced cost management and decision-making in agricultural marketing activities.