The impact of modern communication marketing tools to increase the innovativeness of business

Authors:
Hana Krchova1, Katarína Svejnova Hoesova2
1. Pan-European University (Slovakia)
2. School of Economics and Management in Public Administration in Bratislava (Slovakia)
Pages:
117 - 126
Language:
English
Cite as:
Krchova, H., & Svejnova Hoesova, K. (2021). The Impact of Modern Communication Marketing Tools to Increase the Innovativeness of Business. Marketing and Management of Innovations, 3, 117-126. http://doi.org/10.21272/mmi.2021.3-10
Received:
10.03.2021
Accepted:
20.08.2021
Published:
13.09.2021


Annotation

The scientific paper aims to examine the influence of marketing communication tools on the innovation of small and medium-sized enterprises increasing in the Slovak Republic. Nowadays the most companies struggle with business revenue due to the pandemic situation of COVID-19 disease. Many business processes moved to the online area, especially daily workers cooperation, communication with customers, sales support, and almost all types of marketing activities. Experience has shown that the key to success in business is the adequate setup of the communication tools. This issue is important not only in the company, but it took a crucial role in the communication with customers. Customers had to adapt to the new COVID-19 situation that dramatically changed their shopping habits. The survey responses were divided into two basic groups focused on traditional marketing and modern (online) tools. The research rests on data from the interviews with 825 managers or owners of small and medium-sized enterprises of the Slovak Republic. Data were examined using descriptive and regression analysis. The presented results showed that traditional and modern tools of marketing communication impacted increasing the innovation of companies. Besides, the impact of business internationalization on increasing business innovation has been demonstrated. The results were supplemented using various modern marketing tools. For evaluating these results, the method of calculation of constructed surface polygons was used. The findings showed that modern marketing communication tools were better for innovative companies than for non-innovative ones. This difference is up to 14.7%. Moreover, the findings showed many possibilities for improving modern marketing communication tools such as artificial intelligence in online communication through mobile marketing applications, analytical tools, or chatbots.

 


Keywords
marketing communication, internalization, SME, traditional marketing, modern marketing, online marketing.


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