Marketing and Management of Innovations

ISSN (print) – 2218-4511 

ISSN (online) – 2227-6718

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Identifier in the register: R30-01179 Decision dated August 31, 2023, No. 759

The language of publication is English. 

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Oleksii Lyulyov

Sumy State University | Ukraine

Financial Justification for the Use of Innovative Digital Marketing Tools

Yuliia Tataryntseva 1,*,   , Oleksandr Manoylenko 1,  , Nataliia Shmatko 1,  
  1. National Technical University “Kharkiv Polytechnic Institute”, Ukraine

        * Corresponding author

DOI: https://doi.org/10.21272/mmi.2024.3-10

Pages: 127–140

Received: 19 June 2024

Revised: 27 August 2024

Accepted: 26 September 2024

Abstract

This article presents a comprehensive study aimed at analysing the impact of innovative digital marketing tools on the promotion of dairy products. This study is relevant because of the rapid dynamics of the digital environment and the need for enterprises to adapt to new marketing trends. The article investigates the feasibility of using innovative digital marketing tools in accordance with the segments of the target audience on the basis of the definition of their values. The main problem is the lack of scientific justification for the choice of innovative digital marketing tools for potential audiences, as well as the analysis of the feasibility of digital marketing costs. The hypothesis of the study is that, on the basis of the analysis of the values of consumer groups, as well as the analysis of the feasibility of marketing costs, it is possible to select the most relevant innovative digital marketing tools. The main purpose of the study is to justify the use of innovative digital marketing tools on the basis of consumer values, as well as to justify the feasibility of digital marketing costs on the basis of the analysis of financial statements. The methodology included cluster analysis of the target audience and analysis of financial ratios. One of the key stages of the study was the cluster analysis of the target audience, which allowed us to identify different consumer segments with different needs and values. Three clusters of consumer audiences in the dairy industry were identified, the corresponding values of customers in the clusters were substantiated, and recommendations for identifying innovative digital marketing tools were proposed, taking into account the feasibility of the marketing costs of the enterprise. The key coefficients for making informed management decisions on the feasibility of digital marketing costs are allocated. By analysing these coefficients, an enterprise can assess its financial capabilities and make a decision on how to invest in innovative digital marketing tools. This allows enterprises to make informed decisions about investing in digital marketing, minimizing financial risk and increasing the chances of successful implementation of marketing strategies. This study significantly adds to the body of knowledge in the field of digital marketing by offering a scientifically based approach to the selection of innovative marketing tools on the basis of the analysis of consumer value and the financial feasibility of costs. The practical application of the research results lies in the ability of dairy enterprises to promote their products online on the basis of a thorough selection of innovative digital marketing tools, reducing financial risk. This creates a basis for further research in the field of digital marketing, particularly in the context of the integration of innovative digital marketing tools and their impact on consumer behaviour.

Keywords: financial justification of costs; digital marketing; dairy industry; cluster analysis; target audience; marketing of impressions; innovative digital marketing tools; financial analysis; costs.

How to Cite: Tataryntseva, Y., Manoylenko, O. & Shmatko, N. (2024). Financial Justification for the Use of Innovative Digital Marketing Tools. Marketing and Management of Innovations, 15(3), 127–140. https://doi.org/10.21272/mmi.2024.3-10

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