The impact of digitalization on the development of marketing strategy in entrepreneurship

Abstract

The analysis of the role of digitalization in the development of marketing strategies in business is a relevant topic due to the widespread use of digital technologies in modern society. The forms, tools, and directions of an enterprise's work are changing rapidly, making the adaptation of marketing activities to market changes an urgent issue. In modern business, the effective use of information technology can enable a shift towards a customer-centric business model. The article examines previous research on enhancing marketing strategies in the digital economy. As we all know, digitalization is a worldwide phenomenon that affects all aspects of social life, such as the economy, business, education, and culture. It presents new opportunities and challenges for entrepreneurs who must adjust their marketing strategies to evolving market conditions and consumer demands. This article explores the impact of digitalization on the evolution of marketing strategies in business. It highlights the transformations that have occurred in the marketing industry as a result of the widespread integration of digital technologies. The article suggests that the advent of digitalization has had a significant impact on the development of marketing strategies, requiring the implementation of new tools to ensure effective and competitive marketing activities within an enterprise. To develop a successful marketing strategy for an enterprise, it is important to consider the opportunities presented by digitalization, changes in consumer behavior, and acquiring new skills and knowledge in digital marketing. This article is based on a theoretical analysis of the literature and research data processing. The article seeks to provide a comprehensive understanding of the importance and nature of digitalization in business. It may prove useful to entrepreneurs seeking to improve their marketing strategies in the digital economy. The article examines the impact of digitalization on the development of marketing strategies and outlines the novel opportunities that digital technologies, such as social media, online stores, mobile applications, and other tools, can offer to entrepreneurs. This article may be of interest to entrepreneurs looking to adapt to evolving market conditions, as well as researchers studying the effects of digitalization on business.