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The impact of modern communication marketing tools to increase the

innovativeness of business

Article in Marketing and Management of Innovations · January 2021

DOI: 10.21272/mmi.2021.3-10

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Marketing and Management of Innovations ISSN 2227-6718 (on-line)
Issue 3, 2021 ISSN 2218-4511 (print)

https://doi.org/10.21272/mmi.2021.3-10 JEL Classification: M10, M31, O10

Hana Krchova,
Ph.D., Pan-European University, Slovakia
ORCID ID, 0000-0003-3550-5300
email: [email protected]
Katarína Svejnova Hoesova,
School of Economics and Management in Public Administration in Bratislava, Slovakia
ORCID ID, 0000-0001-5730-5364
email: [email protected]

Correspondence author: [email protected]

THE IMPACT OF MODERN COMMUNICATION MARKETING TOOLS TO INCREASE THE

INNOVATIVENESS OF BUSINESS

Abstract. The scientific paper aims to examine the influence of marketing communication tools on the innovation
of small and medium-sized enterprises increasing in the Slovak Republic. Nowadays the most companies struggle
with business revenue due to the pandemic situation of COVID-19 disease. Many business processes moved to the
online area, especially daily workers cooperation, communication with customers, sales support, and almost all types
of marketing activities. Experience has shown that the key to success in business is the adequate setup of the
communication tools. This issue is important not only in the company, but it took a crucial role in the communication
with customers. Customers had to adapt to the new COVID-19 situation that dramatically changed their shopping
habits. The survey responses were divided into two basic groups focused on traditional marketing and modern (online)
tools. The research rests on data from the interviews with 825 managers or owners of small and medium-sized
enterprises of the Slovak Republic. Data were examined using descriptive and regression analysis. The presented
results showed that traditional and modern tools of marketing communication impacted increasing the innovation of
companies. Besides, the impact of business internationalization on increasing business innovation has been
demonstrated. The results were supplemented using various modern marketing tools. For evaluating these results,
the method of calculation of constructed surface polygons was used. The findings showed that modern marketing
communication tools were better for innovative companies than for non-innovative ones. This difference is up to
14.7%. Moreover, the findings showed many possibilities for improving modern marketing communication tools such
as artificial intelligence in online communication through mobile marketing applications, analytical tools, or chatbots.
Keywords: marketing communication, internalization, SME, traditional marketing, modern marketing, online
marketing.

Introduction. Over the decades, digital technologies have changed communication, doing business,
producing goods and services. Besides, in the last two years (due to COVID-19), buying those goods was
changed. They have changed the way of life, work, and free time. This very rapid development can have
many promises for the future. It could show many opportunities, especially in digital business, which
involves creating wealth for individuals or groups and improving the quality of life. Remarkably, this
development could also pose possible threats. The European Commission has stated that these are
mainly shortcomings in online skills, consumer protection, or excessive industrial reorganization.
(European Commission, 2015).
The world is currently affected by the health crisis caused by the pandemic (COVID-19) and the
resulting restrictive measures (such as regional locks, business restrictions, social distance). Undoubtedly,
these measures suppress the spread of the pandemic, but unfortunately also do not contribute to the

Cite as: Krchova, H., & Svejnova Hoesova, K. (2021). The Impact of Modern Communication Marketing Tools to
Increase the Innovativeness of Business. Marketing and Management of Innovations, 3, 117-126.
http://doi.org/10.21272/mmi.2021.3-10
117

Received: 10 March 2021 Accepted: 20 August 2021 Published: 13 September 2021

Copyright: © 2021 by the author. Licensee Sumy State University, Ukraine. This article is an open access article
distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://
creativecommons.org/licenses/by/ 4.0/).
H., Krchova, K., Svejnova Hoesova. The Impact of Modern Communication Marketing Tools to Increase the Innovativeness
of Business

development of business activities of most small and medium-sized enterprises, not only in Slovakia but
throughout the world. In March 2020, the International Monetary Fund stated that the global economy had
entered a recession. Thus, the outcome could be worse than the effects of the global financial crisis in
2009 (Georgieva, 2020). Although the International Monetary Fund expects a recovery or a significant
rise, this unprecedented crisis has harmed most companies, including innovative ones (Cortez and
Johnston, 2020; Kang et al., 2020). Following this situation, company managers worldwide began to
intensively implement various contingency plans to overcome this pandemic crisis (Ritter and Pedersen,
2020). Unfortunately, it is not possible to rule out further waves of pandemics. Thus, it is necessary to
consider various future restrictions (Ferencakova et al., 2020). Although the challenging conditions and
threats for SMEs, this time could be an opportunity. Joseph Schumpeter has emphasized the importance
of «creative destruction, which is painful but encourages innovation and progress by replacing the old and
the familiar with new and better ones» (Schumpeter, 1934). Regardless of the current complicated
situation, it is indisputable that many companies spend millions of dollars each year to promote a positive
perception of their brand and the entire business as innovative (Shams et al., 2020). Many of these
companies consider the image of «innovation» to be commercially beneficial. Therefore, they actively seek
to portray their brands and the entire business effort as innovative through various marketing
communication tools (Mura, 2020). The current situation related to COVID-19 has forced companies to
respond to new customer behavior (Sevcik et al., 2020). This situation has also highlighted the need for
greater use of modern online communication tools. The possibilities of communication with customers are
constantly being explored. However, the research focused on individual tools and their use by companies
during this difficult period. The goal of the study was to determine whether these tools have an impact on
their business innovation. The research uniqueness was not only in the mentioned facts but also in the
important environment specificity defined by the environment of the Slovak Republic and the consumer.
This type of consumer, which in some respects until the time before COVID-19, was rigid to some online
marketing tools. As the main research question, the determination of the degree of influence of modern
communication tools for innovative companies.
Literature Reviews. It is only possible to agree with the premise that innovations could take various
forms, whether the essential product or organization, process or marketing, and regardless of the specific
form of innovation. It could be considered as the engine of competitiveness or the main driving force of
business (Masouras, 2019). Most innovation literature focuses on product innovation's tangible results
reflected in indicators such as sales, market share, or financial value (Henard and Dacin, 2010; Zhang et
al., 2016). However, the issue also received attention from a marketing perspective (Brexendorf and Keller,
2017; Hubert et al., 2017; Pappu and Quester, 2016). Particularly, this issue becomes an important
direction of business development strategic planning (Kostiukevych et al., 2020), with rapidly rising
significance in times of pandemic crisis (Smeureanu and Diab, 2020). The perception that the company is
innovative is increasingly important for customers (Verhoef et al., 2021). In the current turbulent
environment, characterized by a high degree of openness, businesses are forced to innovate to a much
greater extent than in the past to ensure competitiveness and the company's very existence (Ritter and
Pedersen, 2020).
The importance of digitization and innovation in digitization processes increased significantly even
before the current pandemic (Schallmo et al., 2020; Butschan et al., 2019). The effectiveness of these
processes has been raised sharply due to the artificial intelligence use for different business purposes,
primarily predicting future innovation success, ensuring the strategy's feasibility with the managerial
decisions, etc. (Bencsik, 2021). However, mainly due to the current situation, everything has accelerated
even more. Indeed, digitalization could achieve economic growth and increase the competitiveness of
goods and services (Goker and Ayar, 2020). Given the large scale and pace of current digital
transformations, the speed of response to their major trends is a significant competitive advantage.

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The underlying rapid digitization and development of the information society point to the need to
digitize marketing activities since consumers prefer those brands and companies that could quickly
manage digital channels (Janoskova and Kliestikova, 2018). The experience of many foreign and domestic
companies suggests a significant impact of digitization on sales activities (Chebli et al., 2020). Digital
methods of information processing and use are a major source of efficiency and effectiveness of these
activities (Rourke, 2018). The challenges of modern globalization contribute to the rapid implementation
of the latest innovative capabilities of the digital world (Kljucnikov et al., 2016; Mura and Kajzar, 2019).
Due to the ongoing digitization, the area of marketing communication develops very quickly. (Verhoef
et al., 2021). Creating new opportunities to increase profits is essential for amortizing large investments in
digitization (Frohmann, 2018). In this context, modern digital marketing communication has become an
ever-growing part of marketing companies (Vinerean et al., 2014; Schubach and Schumann, 2020).
Besides, the importance of using multi-channel marketing activities is emphasized for maintaining
competitiveness (Esteban-Bravo et al., 2015; Li et al., 2016) and digital agility in marketing communication
(Verhoef et al., 2021). From the point of view of traditional marketing and its possibilities of using
communication tools, the view is rooted. Above all, access is provided by using traditional advertising tools
such as advertising. However, today's consumers demand more, not least because of the current
pandemic situation. But due to it, this need has intensified significantly. Thanks to digital tools, which are
becoming more and more popular in marketing communication, consumers could experience increased
comfort levels and indisputable speed that brings knowledge. It is important to encourage consumers to
realize the value of communicated goods much faster. (Colton, 2018; Hollebeek et al., 2017).
The focus is on the benefits of modern (online) marketing. Its benefits are primarily in the possibility of
an individual approach and quick response. These benefits are very important for consumers because
they value their time more, which means they need and often require immediate feedback and an individual
approach (Dzupina and Dzupinova, 2019; Shpak et al., 2020). The development of marketing
communication tools means new practical opportunities and creates a great challenge for classical
marketing theory. Sometimes the answer to these challenges is suggestions for abandoning some
traditional standards. Sometimes it is proposals to modify them and adapt to current conditions. Online
marketing communication tools could replace traditional tools (Danaher and Rossiter, 2011; Krizanova et
al., 2019; Chovanova, 2019). However, as research and the companies' practice show, the key is to
combine these two approaches. They should coexist with different roles across the customer's path in
purchasing decisions and most notably (Kottler et al., 2017). That is mainly because the buying process
on the part of buyers has changed and rests on various communication and sales channels, between
which customers are constantly switching. It challenges firms to adequately manage and integrate
them (Kotler et al., 2020).
Methodology and research methods. The study, which forms the basis of the research of this paper
and the project, consists of a quantitative and qualitative survey of 825 selected small, medium, and large
enterprises in the Slovak Republic with a focus on a questionnaire survey. The issues of micro, small and
medium-sized enterprises were addressed. The data obtained from the survey were processed using
advanced statistical methods. The questionnaire consisted of ten questions related to business
identification: four questions addressed the respondents and their relationship with the interviewed
company; five groups of questions related to business perception innovation concerning management,
implementation of production projects; questions focused on today's business perception of start-ups,
links, and perspectives to the marketing of the company as a whole, the use of individual tools of marketing
management in the company, tools focused on marketing communication, not only in terms of traditional
tools of the communication mix but also tools of contemporary, more necessary online communication.
The questionnaire was distributed through an online form in Google Forms. Individual managers or
owners confirmed the basic information about the studied company. It means that the survey was not

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H., Krchova, K., Svejnova Hoesova. The Impact of Modern Communication Marketing Tools to Increase the Innovativeness
of Business

anonymous but eloquent. In terms of enterprise size, most of the enterprises involved were micro-
enterprises (50%). Medium-sized enterprises accounted for 9%, small enterprises for 37%, and large
enterprises for 4%. The questionnaire survey aimed to provide a sample from the entire territory of
Slovakia. Thus, another identifying feature was the region according to the territorial administrative division
of Slovakia. As the largest concentration of companies is in the Bratislava region, this was reflected in the
obtained sample (57%), followed by companies from the Zilina region (9%) and the Banska Bystrica
region (9%). Research examining the effects on increasing the company's innovation was purposefully
distributed to small and medium-sized enterprises in Slovakia. The survey was conducted electronically
on 1000 companies selected based on their business innovativeness indicators. The survey lasted from
September to December 2020. More than 82% of companies (the exact number of companies is 825)
answer research questions, which helped the research work with a high representative sample. The data
were analyzed using SPSS 23.0. From the point of view of perceived innovation, 76% of the sample
examined is perceived as an innovative business, and only 24% do not consider their business to be
innovative. This research involved 47.5% of micro-enterprises (up to 9 employees); 36.9% of small
enterprises (up to 49 employees); 10.4% of medium-sized enterprises (50-249 employees); 5.2% of large
enterprises (over 250 employees).
In this study, logistic regression analysis (LR) was used to determine whether there is a significant
relationship between increasing the company's innovation and marketing communication tools, both
traditional and modern (associated with digital technologies). Logistic regression analysis was applied to
check the relationship between a binary dependent variable, coded as 0 or 1 for two possible categories
and a set of independent variables. LR is used to describe data and explain the relationship between a
dependent binary variable and one or more nominal, ordinal, interval, or relative independent variables
(Tabachnick and Fidell, 2012). The function of logistic regression is:
!
𝑃(𝑌 = 1) = (1)
!"# !"#$ %#& '& %#( '( %⋯#* '* +
where P – the probability that event Y would occur; Y – a binary dependent variable (Y = 1 if; Y = 0
otherwise); b – logistic regression coefficients; X – independent variables.

In the study, if companies perceive their business as innovative, Y equals 1 (Y=1). Conversely, if
companies do not perceive their business as innovative, Y equals 0 (Y=0). The use of individual marketing
tools was measured using a 5-point Likert scale. The respondents expressed their verifications of using
individual tools, whether they are traditional or modern tools. For completeness, the international
dimension of the business factor was also presented. The answers ranged from 1 (international dimension)
and 0 (national dimension). Individual parametric data could be defined as follows:
- Y: perceptinnov (is a dependent variable) – perception of business as innovative;
- X1: traditmarcom – use of traditional marketing communication tools;
- X2: modmarcom – use of modern marketing communication tools;
- X3: international – international operations of the company.
Cronbach's alpha was used to check the reliability of each factor. That is a measure used to assess
the reliability of a set of scales or test items. In general, Cronbach's alpha should exceed 0.70 (Hair, 2011).
Cronbach's alpha coefficients were obtained for this investigated set of 0.678. Table 1 demonstrates the
basic descriptive statistics of this survey.
Logistic regression analysis aims to determine the influence of individual determinants on increasing
the number of innovative companies. Based on the results of previous research on this issue, the following
hypotheses have been established:

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H., Krchova, K., Svejnova Hoesova. The Impact of Modern Communication Marketing Tools to Increase the Innovativeness
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- The growth of traditional tools for marketing communication increases the number of innovative
companies. (H0: Change in using traditional marketing communication tools does not affect the growth of
many innovative companies).
- The growth of the use of modern marketing communication tools increases the number of
innovative companies. (H0: Change in using modern marketing communication tools does not affect the
growth of many innovative companies).
- Changing business from the national to the international level leads to an increase in innovative
companies. (H0: Change of business from national to international does not affect the growth of many
innovative companies)

Table 1. Descriptive Statistics

Indicators Numbers Minimum Maximum Mean Std. Deviation
perceptinnov 825 0.00 1.00 0.4667 0.49920
modmarcom 825 0.00 5.00 2.4763 1.38377
traditmarcom 825 0.00 5.00 2.5615 1.32960
international 825 0.00 1.00 0.3695 0.48296
Sources: developed by the authors.

Table 2 shows the odds ratio greater than 1 (Exp (B)). It indicates that the probability of increasing
business innovation [P (Y = 1)] increases as the related independent variable increases. In contrast, the
odds ratio less than 1 indicates that the probability of increasing innovation is lower as the related
independent variable increases. If the value of 1 is subtracted from the probability coefficient and then
multiplied by 100 [(odds-1 ratio) x100], values above 100 indicate an increase, while values below indicate
a decrease.

Table 2. Equation variables

Indicators B S.E. Wald df Sig. Exp(B)
X1 traditmarcom 0.123 0.098 18.771 1 0.000 1.526
X2 modmarcom 0.407 0.091 20.219 1 0.000 1.503
X3 international 0.719 0.165 19.077 1 0.000 2.052
Constant 2.580 0.239 116.289 1 0.000 0.076
Note: **B, estimated coefficient; S.E., standard error; Wald, the ratio of B to S.E., squared; df, degrees of freedom;
Sig., the level of statistical significance (p value); Exp(B), odds ratio
Sources: developed by the authors.

P(Y = 1) = 1/(1 + e↑(&(&'.)*+"+.!',-∙!"+./+0-∙'"+.0!1-) ) (2)

For example, if 1 is subtracted from the odds ratio of the variable X1 and then multiplied by 100, the
result (1.526-1)*100 = 52.6%. In short, if X3 increases by one unit, the probability of increasing the
company's innovation will increase by 52.6%. One increase in the unit in variable X2 increases the
probability of business innovation by 50.3%. The last evaluated variable X3 has the biggest impact on the
evaluated variables, and when the unit of the variable increases, the rate of innovation increases even
from 105.2%. As a result of the analysis, good agreement was assessed by the Hosmer-Leme test. This
statistical test measures the correspondence of the actual and expected values of the dependent variable.
In this case, a better model fit is indicated by a smaller difference in the observed and predicted
classification (Hair, 2011). The null hypothesis (H0) for the Hosmer and Leme show test is that the data

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H., Krchova, K., Svejnova Hoesova. The Impact of Modern Communication Marketing Tools to Increase the Innovativeness
of Business

correspond to the model. As a result of the test, H0 was accepted, and the model obtained was compatible
with a 0.05 level of significance data set (p = 0.102).
As part of the answers to the main research question – it is stated with certainty that the influence of
modern communication tools is evident in the studied societies. The results of investigations directly
confirmed this fact. When interpreting the partial research results, the state of all null hypotheses could be
rejected. In the case of hypothesis: The growth of using traditional tools for marketing communication
increases the number of innovative companies. It could be stated that traditional marketing communication
tools led to a 12.3% increase in innovation in the surveyed companies. In contrast, under the hypothesis:
The growth of using modern marketing communication tools increases the number of innovative
companies. It is stated that using modern communication tools, more than a 40% increase in innovation
in the surveyed companies. Within the established hypothesis: Changing business from the national to the
international level leads to an increase in innovative companies, it is stated that in over 70% of the
surveyed companies, which moved from the national to the international environment, their innovations
would be increased.
Results. This statistical survey shows that all examined factors are statistically significant for
improving companies' innovations, both traditional and modern marketing tools. The internationalization
of companies also proved to be relevant when this factor proved to be the most recognized. On the other
hand, the internationalization of a company is very costly and complicated.
From this point of view, it was better to look closer at the tools of the modern marketing community to
find possible reserves in the use of these tools. To better interpret the results, it was decided to supplement
this type of evaluation by calculating the area network graph for the overall results of innovative or non-
innovative business and the impact of the size of individual companies examined. The method mentioned
above gives a new perspective on using marketing communication tools in companies. A formula for
calculating the area of a graph was recalculated in Excel. There are n values of v1, vn in the graph.

𝑣3"! = 𝑣! (3)

The area S of a polygon is the sum of the areas n of the triangles whose vertices are the center of
the graph and two consecutive vertices of the polygon. According to sinusoidal law, each of them has
the area:
Then the calculation S continues as follows:
(,
4* 4*%& "!563( )
𝑆𝑖 = '
-
(4)

The formula represents S-area:

𝑆 = ∑367! 𝑆6 (5)

The size of the area was found to represent the values in the network graph using the formula for
calculating the area of graphs for individual parameters. Based on this data, it could determine the impact
of individual tools of modern marketing communication. Figure 1 shows the results of individual tools of
the examined modern marketing communication from the point of view of the size of companies and
whether it is an innovative or non-innovative business.
The obtained results showed that modern marketing communication tools are better for innovative
businesses than non-innovative ones from all the examined points of view. This difference is up to 14.7%.
On closer examination, the most balanced situation is in medium-sized enterprises, where the difference

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H., Krchova, K., Svejnova Hoesova. The Impact of Modern Communication Marketing Tools to Increase the Innovativeness
of Business

is only 7.03% compared to micro-enterprises (18.6%). Innovative micro-enterprises were the best placed
in evaluating modern marketing communication tools (25,714), followed by small innovative enterprises
(25,298) and medium-sized enterprises (19,886).

Figure 1. Evaluation of modern marketing communication tools on Innovative and Non-

innovative
Sources: developed by the authors.

It is stated that the use of modern marketing communication tools could be considered as an area with
visible reserves in the use of newer marketing communication tools. Above all, targeted mobile marketing
can be considered as an area for effective improvement, with greater use being found to increase business
innovation. The results correspond to the findings presented in research in recent years, where the
growing importance of modern marketing communication tools is evident (Nieves-Casasnovas and
Lozada-Contreras, 2020; John and De'Villiers, 2020; Svajdova, 2019; Sabaityte et al., 2018).
Conclusion. The COVID-19 pandemic has had an enormous impact on the use of marketing tools.
For a time, work shifted from office space to a virtual form to households. Just as working life has changed,

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H., Krchova, K., Svejnova Hoesova. The Impact of Modern Communication Marketing Tools to Increase the Innovativeness
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so has the way of using marketing tools. When imprisoned the population for several months in
households, it has forced the business environment to respond. The most significant impact occurred in
the way companies communicate with the client. This situation has just been reflected in the change of
approach to the use of online communication tools. This research has proved that the companies using
modern online tools' potential have taken the right step. The obtained results have demonstrated the
connection between the innovation of companies and the use of modern or traditional communication
tools. One of the key findings indicated the modern methods of communication had a significant impact
on the companies' innovation (more than 40%). Given the research limitations, the Slovak consumer
showed significantly lower interest and skills in online shopping tools than other European consumers.
That is the key factor that causes lower skills customers are more resistant to online marketing tools.
Companies with better pro-client behavior and appropriate modern online communication should better
take advantage of potential growth. Using modern online marketing tools is the way to attract new market
possibilities. Given the change in customer behavior caused by the pandemic, it is undoubtedly important
to reorient company interest from traditional to modern online communication tools. The undeniable fact
remains that companies that capture this trend will be more successful in the business world. Future
research offers some very readable issues to explore. It will be interesting to observe the gradual
improvement of Slovak customers and their online skills after the pandemic time, especially the influence
of online marketing tools. Moreover, it would make sense to provide deep research into the adaptability
changes of online skills focusing on men and women, indeed separately.
Author Contributions: conceptualization, H. K. and K. S. H.; methodology, H. K. and K. S. H.;
software, K. S. H.; validation, K. S. H.; formal analysis, H. K. and K. S. H.; investigation, H. K.; resources,
H. K.; data curation, H. K. and K. S. H.; writing-original draft preparation, H. K. and K. S. H.; writing-review
and editing, H. K. and K. S. H.; visualization, H. K.; supervision, H. K. and K. S. H.; project administration,
H. K. and K. S. H.; funding acquisition H. K. and K. S. H.
Funding. This paper is the output of a national scientific project financed within the framework of the
project VEGA 1/0813/19 Managing the development of innovative and start-up forms of businesses in
international environment and verification of INMARK concept and IGA 4/2020-M (VSEMvs) Regional
disparities in small and medium-sized enterprises in the V-4countries and in Ukraine.

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Хана Крчова, Ph.D., Пан-Європейський університет, Словаччина

Катаріна Швейнова Гоесова, Вища школа економіки і менеджменту державного управління в Братиславі, Словаччина
Вплив сучасних інструментів маркетингових комунікацій на підвищення інноваційності бізнесу
Метою статті є аналіз впливу інструментів маркетингових комунікацій на рівень інноваційності малих та середніх
підприємств Словацької Республіки. Авторами відмічено, що у відповідь на виклики пандемії COVID-19 більшість компанії
були змушені перевести бізнес-процеси у дистанційний формат. Таким чином, використання онлайн-технологій забезпечено
функціонування низки бізнес-процесів, зокрема підтримку продаж, маркетинг, спілкування між співробітниками та
стейкхолдерами тощо. При цьому адаптація до нових умов, спричинила зміни у купівельних звичках споживачів. Емпіричне
дослідження проведено на основі панельних даних, сформованих для вибірки з 825 менеджерів та/або власників малих та
середніх підприємств Словацької Республіки. Методологія даного дослідження заснована на використанні інструментарію
регресійного аналізу. Отримані результати засвідчили, що традиційні та сучасні інструменти маркетингових комунікацій
сприяли підвищенню рівня інноваційності компаній. Авторами визначено вплив інтернаціоналізації бізнесу на його
інноваційний розвиток. Для емпіричного обґрунтування висунутої гіпотези авторами застосовано метод розрахунку площ
побудованих багатокутників. Результати дослідження дали підстави стверджувати, що сучасні інструменти маркетингових
комунікацій були на 14.7% ефективнішими у випадку інноваційних компаній, у порівнянні з неінноваційними. За отриманими
результатами дослідження визначено низку можливостей для вдосконалення сучасних інструментів маркетингової
комунікації, а саме застосування технологій штучного інтелекту в онлайн-комунікаціях зі стейкхолдерами за допомогою
мобільних маркетингових програм, аналітичних інструментів або чат-ботів.
Ключові слова: маркетингові комунікації, інтернаціоналізація, МСП, традиційний маркетинг, сучасний маркетинг,
онлайн-маркетинг.

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