|JEL Classification: M31, M37, M39
Zahladko V., 1st year master’s degree student of the International Economics and Management Faculty at Kyiv National Economic University named after V. Hetman, Kyiv, Ukraine
Priority Areas for the Development and Implementation of Alternative Digital Marketing Instruments
Abstract. Introduction. In the context of dynamic convergence of the physical and digital worlds, presence of an incredible amount of information about an individual consumer, critical perception of traditional forms of advertising by society, increased efficiency of data processing and communication, traditional marketing has evolved into a completely new model of digital marketing.
Purpose. The principal purpose of this paper is to analyse the basis of the concept of digital marketing and the conditions of its formation; to highlight the features of innovative methods and instruments of digital marketing; to consider its characteristics and to assess effectiveness in the current economic environment.
Results. The author developed a definition for digital marketing and highlighted the key advantages of applying digital channels in corporate strategies. A series of alternative instruments for modern digital marketing was analysed: artificial intelligence, machine learning, chatbot, video marketing, augmented reality and influencer marketing. The main characteristics of these instruments were defined, and a critical assessment of their effectiveness was provided based on the comprehensive analysis and data comparison.
Conclusions. The modern consumers have full control over the internet media and the content they interact with, which strongly reduces or even eliminates the effectiveness of traditional marketing instruments. As a result, marketing specialists are forced to work in complex and changing circumstances. Today, the principal mean of communication between consumers and brands is digital technology, which has fundamentally changed the context and methods of conducting marketing processes. Digital channels proved to be multifunctional, versatile, practical and efficient. For that reason, companies are relying on digital channels for marketing communications to a greater extent. It justifies the fact why investment in research and development of new digital marketing instruments is constantly growing.
Keywords: marketing; marketing channels; digital marketing; digital technologies; target audience; promotion; personalised content.
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Received: 15 November 2020
How to quote this article?
|Zahladko V. (2020). Priority Areas for the Development and Implementation of Alternative Digital Marketing Instruments. Modern Economics, 24(2020), 60-68. DOI: https://doi.org/10.31521/modecon.V24(2020)-10.|