International Digital Marketing Strategy as a Growth Opportunity : Case: Finnish startup
Aarnio, Heli (2017)
Aarnio, Heli
Haaga-Helia ammattikorkeakoulu
2017
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2017112117538
https://urn.fi/URN:NBN:fi:amk-2017112117538
Tiivistelmä
Digitalization and globalisation have, as a combination revolutionized the world of business. Many say that the change has been at least as enormous as during industrialization. Latest development of different digital tools and e.g. the effects of social media have brought many businesses to a completely new position. Today it is even possible for a tiny local start-up to challenge big global players.
The objective of this study is to create an international digital marketing strategy for a Finnish startup. One intention is to study how PR Smith’s SOSTAC© framework can be applied to this purpose. Another intention is to suggest which factors need to be considered when creating an international digital marketing strategy for a startup.
The theoretical framework is based on combination of theories the most important of which are: different schools of strategy process (Mintzberg et al. 2005), different concepts of marketing especially from the entrepreneurial perspective and how they have evolved towards digital era (Kotler 1986, Kotler 1997, Hill & LaForge 1992, Chaffey et al. 2016, Ryan 2017, Constantinides 2002, Halligan & Shah 2014, HubSpot 2017, Smart Insights 2017 and PR Smith 2014), views to business’ growth (Butler 2014 and Greiner 1998) and different views and aspects to be considered when planning internationalization (Ghemawat 2001), international marketing (Smith and Zook 2011) as well as the forces governing competition in an industry adapted to international business environment (Porter 1979).
The study was carried out as a case study during autumn 2016 - spring 2017. Data were collected through interviews, consultative discussions, search word, digital channel and business plan analysis as well as utilising author’s own experience. The analytical approach was qualitative.
The findings show that SOSTAC© framework is a useful tool but cannot be taken too much to the point. Additionally as a result it is suggested to give the digital marketing strategy process enough time and use iterative approach, not trying to finalize the strategy too soon. Aiming towards international growth requires a thorough analysis not only of one’s own business but also the environment and international opportunities before making strategic decisions. SOSTAC© is one good framework and a check-list type of a tool but is not as such adequate for planning internationalization through digital marketing means.
As a conclusion from the broader context of digital marketing as a growth opportunity, this study rose more further questions than it gave answers: how does the applicability of a strategy creating process vary internationally or by the size or age of the company? What are the factors that affect, how well and which parts of the process should be emphasized? What parts of the process are affected by domestic and/or international legislation and how? How should the SOSTAC© framework or other frameworks be developed for the purpose of internationalization through digitalization?
The objective of this study is to create an international digital marketing strategy for a Finnish startup. One intention is to study how PR Smith’s SOSTAC© framework can be applied to this purpose. Another intention is to suggest which factors need to be considered when creating an international digital marketing strategy for a startup.
The theoretical framework is based on combination of theories the most important of which are: different schools of strategy process (Mintzberg et al. 2005), different concepts of marketing especially from the entrepreneurial perspective and how they have evolved towards digital era (Kotler 1986, Kotler 1997, Hill & LaForge 1992, Chaffey et al. 2016, Ryan 2017, Constantinides 2002, Halligan & Shah 2014, HubSpot 2017, Smart Insights 2017 and PR Smith 2014), views to business’ growth (Butler 2014 and Greiner 1998) and different views and aspects to be considered when planning internationalization (Ghemawat 2001), international marketing (Smith and Zook 2011) as well as the forces governing competition in an industry adapted to international business environment (Porter 1979).
The study was carried out as a case study during autumn 2016 - spring 2017. Data were collected through interviews, consultative discussions, search word, digital channel and business plan analysis as well as utilising author’s own experience. The analytical approach was qualitative.
The findings show that SOSTAC© framework is a useful tool but cannot be taken too much to the point. Additionally as a result it is suggested to give the digital marketing strategy process enough time and use iterative approach, not trying to finalize the strategy too soon. Aiming towards international growth requires a thorough analysis not only of one’s own business but also the environment and international opportunities before making strategic decisions. SOSTAC© is one good framework and a check-list type of a tool but is not as such adequate for planning internationalization through digital marketing means.
As a conclusion from the broader context of digital marketing as a growth opportunity, this study rose more further questions than it gave answers: how does the applicability of a strategy creating process vary internationally or by the size or age of the company? What are the factors that affect, how well and which parts of the process should be emphasized? What parts of the process are affected by domestic and/or international legislation and how? How should the SOSTAC© framework or other frameworks be developed for the purpose of internationalization through digitalization?