Abstract
On their way towards assuring growth and long-term sustainability, many modern small and medium sized enterprises (SMEs) from the European Union have set building a stronger brand as one of their primary goals. To achieve this, an integrated framework for managing the continuous enhancement of their brand equity level by adopting digital marketing tools and techniques (DMTTs), has increasingly become a necessity for most of the modern SMEs. However, even if such an approach provides plenty of benefits, such as better audience targeting and reduction of traditional marketing expenses, implementing these complex processes in their business models poses a series of challenges like choosing the best selection of DMTTs. For this reason, a conceptual model is proposed in the first part of the paper, with the aim to highlight a framework that will help underline the links between DMTTs and other key elements that can provide an increase in brand equity of SMEs, thus contributing to growth and enhancing the sustainability level. Following the proposed model, research aimed at two main directions has been conducted in the second part. The first direction was to analyze the degree in which modern SMEs from the European Union located in Romania dedicate themselves toward embracing sustainability goals and principles. The second one represents an analysis using also the SPSS software solution on the most used selections of DMTTs mentioned in the presented conceptual model. The results obtained provide a starting point for those modern SMEs that choose to follow the path of sustainability by creating and enhancing their brand equity through DMTTs.
Highlights
At the European level and beyond, small and medium-sized enterprises (SMEs) are considered to be a central key factor for growth, innovation, employment, social inclusion and for providing sustainability for the society as a whole
The other direction has a significant degree of novelty that by its findings aims at providing a starting point for the modern SMEs that, on their way towards enhancing sustainability, are seeking to reach a higher brand equity and growth level by using the proper selection of digital marketing tools and techniques (DMTTs) that complement each other and generate business benefits
When it comes to awareness of sustainability related issues, consumers from western countries of European Union are in the lead, and SMEs active there are in general much deeply involved in these types of processes, by comparison with the SMEs from central or eastern countries of the European Union
Summary
At the European level and beyond, small and medium-sized enterprises (SMEs) are considered to be a central key factor for growth, innovation, employment, social inclusion and for providing sustainability for the society as a whole. Current policy on SMEs is still a blend of contrasting issues, as annual amounts are being invested consistently by comparison with Romania’s GDP, but there is no clear consensus yet on efficiency or results Against this background, at the initiative of the National Commission for Prognosis [3] and benefiting from support from the European Social Fund [4], there was a clear need to deepen the contribution of the SME sector to general economic growth in a more rigorous manner. At the initiative of the National Commission for Prognosis [3] and benefiting from support from the European Social Fund [4], there was a clear need to deepen the contribution of the SME sector to general economic growth in a more rigorous manner Such an approach highlights the need to duplicate qualitative impressions like perception surveys, expert opinions, etc. The other direction has a significant degree of novelty that by its findings aims at providing a starting point for the modern SMEs that, on their way towards enhancing sustainability, are seeking to reach a higher brand equity and growth level by using the proper selection of DMTTs that complement each other and generate business benefits
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