Impact of geomarketing and location determinants on business development and decision making

Purpose: This paper aims to study and compare variables such as location, industry, socio-demographics and business factors of several companies located in Western Macedonia. Design/methodology/approach: Research method is based on primary data the authors collected through questionnaires and secondary data obtained from State Statistical Office. Besides, the research sums up data classification of companies in the aspect of geomarketing and how location determinants and geo-information of certain cities can influence their business development and decision-making. Lastly, the results of data and Structural Equation Modeling integration are presented. Findings: Since Republic of Macedonia is more than 25 years in transition, experts have often foreseen that companies in their country most of the time make intuitive decisions and do not take into account many elements during decision-making process in the business aspect. But on the other hand, results reveal interesting facts about companies involved in their research. For a majority of companies, the influence of geomarketing on business development is positive as long as during decision-making process its determinants have been taken into consideration and reviewed. Practical implications: The paper helps the entrepreneurs to develop their businesses and decision-making process based on geomarketing determinants. Originality/value: This is the first paper that investigates and compares variables such as location, industry, socio-demographics and business factors of companies located in Macedonia.