Application of marketing innovation in EU companies

Abstract

Sustainability is an ongoing process that affects business processes and marketing strategies. The connection between these aspects and the use of digital tools help to ensure the sustainable development of businesses and contribute to the growth of society’s well-being. Technological changes in the digital economy, exponential growth of information volumes, the need to speed up the decision-making process, strengthen the culture of information and communication technologies, encourage companies to look for innovative tools in marketing activities. Marketing innovation in companies is an integral part of sustainable business development. The aim of the research is to identify the Scandinavian and Baltic countries that are most active in applying marketing innovations that contribute to the sustainable development of companies. Comparative analysis and synthesis of scientific literature, multi-criteria evaluation TOPSIS and cluster analysis methods were used for the research. The results of the study shows that the use of digital marketing elements in the sustainable development strategy of enterprises have a significant relationship and are interdependent.