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Introduction
Marketing plays a role of paramount importance in the formation of business performance, which explains the increased interest in this subject matter within the contemporary body of academic knowledge. In the wake of Industry 4.0, an emphasis is laid on digital marketing as an emerging tool that holds great potential, while lacking a defined, well-established theoretical framework. Powered by the advanced technology of today, digital marketing can make a significant contribution to the prosperity of a business. However, this effect is attained only when its arsenal is utilized correctly. Without a clear understanding of digital marketings opportunities and threats on a global scale, its contribution to the overall company strategy is limited. Therefore, it is valuable to research the contemporary body of literature from the perspective of the identified research questions:
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How is digital marketing applied in international business?
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What is the impact of digital marketing on the marketing strategies of international companies?
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What are the opportunities and challenges of digital marketing for international companies and how can they be leveraged?
Providing answers to these questions is essential to construct a theoretical framework that would synthesize the current experience with digital marketing and its best practices on a global scale. In a way, the state of DM application remains incidental, meaning that most companies rely on their hypotheses and experiences. As a result, these strategies are devoid of an institutionalized component that would allow for the formation of a comprehensive theoretical framework of digital marketing. An investigation of the current body of literature shows that researchers actively seek a common vision of digital marketing in the age of Industry 4.0. Yet, most attempts focus on the particular experiences of individual companies or specific industries. Therefore, this subject matter deserves additional elaboration that would advance the formation of a comprehensive framework of reference.
Synthesis of Knowledge
A considerable body of knowledge aims to systemize the data on digital marketing in its present form. Bala and Verma (2020) acknowledge the complexity of the discipline by referring to its numerous constituents. Digital marketing on its own is a broad notion that includes, for example, social media marketing (SMM), search engine optimization, influencer marketing, content optimization, and other components. This piece of data reflects the objective reality, in which DM is a set of independent instruments rather than a separate tool of its own. From one perspective, this allows for comprehensive, multi-component marketing campaigns that give international companies a strong impetus (Robul et al., 2020). On the other hand, the perceived complexity of the notion entails the general indeterminacy that surrounds it. Digital marketing research and planning should be executed in an organized, well-structured manner that fully reflects its complex nature (Saura et al., 2021). While it is important to acknowledge this complexity, additional research is required to understand how it should be addressed from the perspective of an international company willing to utilize the arsenal in its entirety.
One of the main challenges faced by firms that are willing to launch digital campaigns on an international scale consists of the general heterogeneous nature of the audience. More specifically, the values and priorities of consumers may vary significantly across national and continental borders (Guilbeault, 2018). The exact properties of the product remain unchanged in this scenario, but the perspective of the audience does. In one market, consumers may sustainability, whereas the remaining part will emphasize the economic aspect of the offer (Minculete & Olar, 2018). Furthermore, the exact avenues of productive marketing change on an international scale, as different communities prefer varying digital media. Experience is search engine optimization may be of less use in the markets or segments that rely mostly on social media, for example. Shankar et al. (2021) concur, adding that global marketplaces are a diverse environment that requires a certain level of expertise and agility from the companys marketing specialists. The cultural component is of great relevance, as it provides insight into the values of the projected target audience. Unless this component is ensured, the performance of the company in a global marketplace will remain inconsistent.
Overall, the investigation of the contemporary literature reveals a lack of a comprehensive perspective on the subject matter. Most sources either address the general complexity of digital marketing or focus on its particular instances. For example, Desai (2019) provides a compelling overview of the concepts evolution over the past decades, from the dawn of digital marketing to the reality of Industry 4.0. Indeed, digital platforms are actively embedded in the daily operations of most companies, as well as in the lives of consumers. Yet, there is no comprehensive description that would outline the key processes behind this trend. As synthesized by Desai (2019) the research community has come to a conceptual understanding of digital marketing as a notion. The next logical step would be to investigate the underlying tendencies and determinants of successful campaigns. This is particularly important for the global marketplace which consists of a variety of interconnected segments.
Nevertheless, a considerable body of research addresses the particularities of specific markets and industries. While this information is important for international companies, it only partially addresses some clusters of the global spectrum. Spoken differently, there is a need for a comprehensive description of the links between specific markets and how they fit into the global picture. Karaa ao lu and Çiçek (2019) focus on the airline sector for their investigation of digital marketing tool effectiveness. They acknowledge the intense competition in this global segment that prompts companies to explore new limits of creativity. For this sector, the emphasis is on the mobile availability of the offers and corresponding digital avenues, such as smartphone applications. Similar trends are observed by Dewi (2020) in the travel industry with a stronger inclination toward social media marketing. In this segment, such platforms are more fitting to share colorful impressions of the various offers across the globe with Instagram and Facebook being the core media.
At the same time, geographical variables modify the direction of digital marketing campaigns. Today, the role of e-commerce is on a stable increase, especially in the post-COVID environment. The pandemic has changed consumers perceptions profoundly, shifting the focus toward digital product solutions (Alshaketheep et al., 2020). This model of business is inseparable from digital marketing, prompting international companies to enhance their share in their marketing mix. Luxury fashion brands followed the trend and engaged in productive digital campaigns across the globe. In most cases, social media presence became their primary avenue of customer outreach through the worlds most popular platforms. However, once the geography of the activity sees China as one of its elements, the effectiveness of more traditional media decreases, prompting global companies to add WeChat to the mix as a platform more actively used in this country (Liu et al., 2019). If the company operates in, for example, Thailand, France, or Costa Rica, the exact distribution of digital marketing resources is further modified (Carpio et al., 2020; Yongvongphaiboon & Chantamas, 2021). With the expansion of the operational scale, the complexity of the marketing mix grows accordingly.
The presented data provide valuable insight into the properties of specific markets and segments, varying by industry or geography. Undoubtedly, this information can be used by global marketers when designing their campaigns, as it fills certain blank spaces. However, the picture remains incomplete, as long as the fundamental tendencies and instruments are not addressed in research. In its current state, the global body of knowledge presents a set of disconnected pieces of data that can hardly synergize in the unity of a marketing mix. To attain the full benefits of DM on an international scale, marketers require an in-depth understanding of the underlying mechanisms underneath the surface So far, most international companies are unable to leverage digital marketing due to the lack of understanding of its complex structure (Pandey et al., 2020). In other words, this data explains the effects without an emphasis on the causes that are needed for a complete perspective on the subject matter.
Conclusions
Ultimately, the investigation of contemporary literature reveals only partial coverage of digital marketing as the leading tool of Industry 4.0. When faced with the complexity of the concept, the research community proceeds to investigate a particular instance. This way, there is an understanding of how the digital marketing mix changes, depending on the setting and context of the campaign. At the same time, there is a research gap as to why these transformations occur and what tendencies dictate them. International businesses that operate across diverse markets lack a theoretical framework that would inform their marketing decision-making by illustrating the specific links and patterns that determine the elements of the marketing mix. In the end, the cause-and-effect relationship remains explored only from one perspective. Further research is required to explain the profound patterns behind the trends observed and fixated in contemporary literature.
References
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