International Journal of Management (IJM)

Source ID:00000011
Volume 11, Issue 5,May 2020, Pages 1115-1135, Page Count - 21

INNOVATIVE MARKETING TOOLS FOR BUSINESS DEVELOPMENT IN THE EARLY STAGES OF THE CRISIS

Alina R. Eremina (1) Mariya V. Bardadym (2) Nataliia V. Hurtova (3) Kostyantin S. Zhadko (4) Viktoriia V. Datsenko (5)

(1) Social Sciences Office of Doctoral Studies, Federal State Autonomous Educational Institution for Higher Education National Research , Higher School of Economics University, Moscow, Russia.
(2) Department of Accountancy, Taxation and Management of Financial and Economic Security, Faculty of Accountancy and Finance, Dnipro State Agrarian and Economic University, Dnipro, Ukraine.
(3) Department of Entrepreneurship, Marketing and Economy of Enterprises, Faculty of Economics, Business and International Relations, University of Customs and Finance, Dnipro, Ukraine.
(4) Department of Enterprise, Marketing and Economy of Enterprise, Faculty of Economy, Business and International Relations, University of Customs and Finance, Dnipro, Ukraine.
(5) Department of Enterprise, Marketing and Economy of Enterprise, Faculty of Economy, Business and International Relations, University of Customs and Finance, Dnipro, Ukraine.

Manuscript ID:- 00000-00802
Access Type : Open Access
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Cite this article:Alina R. Eremina,Mariya V. Bardadym,Nataliia V. Hurtova,Kostyantin S. Zhadko,Viktoriia V. Datsenko,  Innovative Marketing Tools For Business Development In The Early Stages Of The Crisis, International Journal of Management(IJM), 2020, 11(5), PP.1115-1135

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Abstract

The article is an original empirical study of the impact of the introduction of the latest marketing tools on the level of performance of the metallurgical enterprises. The main objectives of the study include: a critical review of the scientific literature related to the use of the latest marketing tools; carrying out primary analysis of the probability of bankruptcy of the investigated enterprise; identifying tools and assessing the impact of their use on increasing sales and reducing the risk of bankruptcy. The author found a correlation between the level of profitability of an enterprise and its performance in the conditions of using the newest marketing tools. Non-financial reporting on the social and environmental impact of businesses on the environment has been chosen as the main tool for research purposes. The metallurgical industry was selected for the study. The comparative analysis of the level of application of innovative marketing tools at the enterprises of the respective industry in Ukraine and the EU is carried out. It included the analysis of the probability of bankruptcy of the enterprise selected for the research (the largest producer of metallurgical industry of Ukraine) with the use of the selected models (Springate, Toffler, Chesser, Fulmer, Depalyan, Altman, Hayduk and Staus, Beerman, Konan and Golder, Sayfulin-Kadykov, R-model, Zaitseva, Tereshchenko, Matviichuk, Lis). It is determined that the main purpose of each organization is to make a profit, in accordance with the traditional marketing concept, the emphasis in this article is on meeting the needs of customers through the transition of the enterprise to the application of the concept of sustainable development and its constant positioning for stakeholders. It is established that measures to introduce non-financial reporting can have a positive impact on the company's operations, its strategy and financial results. In particular, through the creation of its own sustainable development strategy for the enterprise under study by the integration of sustainable development into corporate and marketing strategy. The result of the study was the methodological basis for conducting a primary analysis of the crisis and the onset of bankruptcy at metallurgical enterprises (of both Ukraine and the EU), determining the types and procedure of innovative marketing tools aimed at solving the problem. The main field of application of the results of the conducted research is the metallurgical enterprises, the Ministry for Development of Economy, Trade and Agriculture of Ukraine, as well as entities belonging to the sphere of governance of the specified body of the central executive power.


Author Keywords
Marketing strategy Innovative marketing tools Non-financial reporting Sustainable development concept Bankruptcy Metallurgical industry

ISSN Print: 0976-6502 ISSN Online: 0976-6510
Source Type: Journals Document Type: Journal Article
Publication Language: English DOI: 10.34218/IJM.11.5.2020.102
Abbreviated Journal Title: IJM Access Type: Open Access
Publisher Name: IAEME Publication Resource Licence: CC BY-NC
Major Subject:Social Sciences and Humanities Subject Area classification: Business, Management and Accounting
Subject area: Marketing Management Source: SCOPEDATABASE

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