Associate Professor of the Department of marketing and logistics of the Institute of Economics and Management of the Lviv Polytechnic National University
Modern business requires new approaches to marketing like never before. This article explores the role of marketing as a critical element of successful entrepreneurship in today’s business environment. Marketing not only attracts the attention of customers but also determines strategic decisions, helps increase sales and profitability, and improves brand positioning in the market. The world is changing dynamically. Trends, consumer behavior, approach to buying or receiving a service, requirements for provided services, etc. are changing. Competition is growing significantly. Brands are constantly working on quality and «challenging» their colleagues, each time raising the «bar» in the market. Success is achieved by those who, despite external circumstances, improve, enhance what they have acquired and create new things. In this dynamic, companies must become better without losing their value, mission, and idea. The consumer must always be at the center of all these processes, because all actions aimed at satisfying his needs and desires in the best possible way will make him a favorite of the company and can potentially turn him into a regular buyer. However, creativity and uniqueness will bring the best possible result in combination with strategic, planned, and forecasted solutions. A comprehensive approach is what is most important today. It can be provided by marketing, which aims to stand out, convey importance, be remembered, and at the same time scale business activity and provide it with a leading position in the market. The article examines the main aspects of modern marketing, including digital marketing, social media, influencer marketing, local marketing, and more. It also emphasizes the importance of developing marketing strategies adapted to the specific needs and requirements of the modern market. With the information presented in this article, entrepreneurs and business leaders will be able to better understand how modern marketing impacts their businesses and how to implement effective marketing strategies to achieve greater success in the market. The practical advice and best-practice examples covered will help entrepreneurs optimize their marketing efforts and achieve sustainable growth in a dynamic business environment.
The article analyzes crowdfunding as the method of innovative solutions outsourcing as well as the main tool of fundraising for non-profit organizations in terms of developing IT technologies and global access to Internet networks. Crowdfunding opens prospects for non-profit organizations in the mobilization of tangible and intangible resources under the circumstances of rapidly growing competitive markets. The development of information technologies and computer networks gives an opportunity to create new forms of financing as well as promote projects that allow connecting with like-minded people around the world. Moreover, it facilitates fundraising coordination. Crowdfunding, due to its online form, conducts its activities through social network sites and specialized crowdfunding platforms. The latter gives its users an opportunity to carry out financial collections in order to cover the budget of the corresponding project. Such ideas of financing are based on the presentation of the beneficiary’s project and idea to Internet users via one of the crowdfunding platforms, where the amount needed is indicated for the implementation of the project and the duration of the collection. The phenomenon of crowdfunding platforms is considered as fundraising for projects, which are performed by non-profit organizations due to a big number of payments from donors interested in a project. In other words, it is a form of financing of different types of projects by both local and global communities using advertising and specialized Internet portals. Crowdfunding platforms, as the new alternative of financing for non-profit organizations, can be used in many different ways, however, not all companies, as well as projects, fit into that. Fundamental principles of crowdfunding include openness, accessibility, progressiveness, and truthfulness of the information. The situation in the Ukrainian market of crowdfunding platforms was investigated and some of its functioning attributes were revealed: crowdfunding, if used strategically, helps non-profit organizations reach interaction, informs about jobs, shares messages about the organization, and expands a donor base in order to increase general funding. Therefore, non-profit organizations which activities are related to crowdfunding win due to popularization, advocacy, and increasing trust in crowdfunding platforms. It serves as a fundraising method for a wide range of stakeholders, including beneficiaries, board members, employees, and donors.
crowdfunding, fundraising, non-profit organizations, social networks, crowdfunding platforms