Research of the crises influence on the enterprises` marketing strategy in the service field

• Published in: Galic'kij ekonomičnij visnik 2022, Vol.78-79 (5-6), p.16-23
• Main Author: Fedyshyn, Iryna
• Format: Article
• Language: English
• ISSN: 2409-8892
• DOI: 10.33108/galicianvisnyk_tntu2022.05_06.016

The article examines the impact of crises faced by companies in the service sector. In particular, it was found that the world economy continues to suffer significant losses due to the crisis caused by COVID-19 and military actions on the territory of Ukraine. Volatility of markets, decrease in profits, small cycles of recovery, reduction or complete closure of enterprises affect the production and distribution of the state budget. In the 21st century, a traditional crisis can become international and even develop into a global shock at a later stage. The influence of negative factors lasting more than 2–3 years begins to generate factors that destroy the economic system. In particular, the analysis of the main indicators of the service sector showed a significant drop in the travel and tourism sector. Globally, the direct contribution of tourism to GDP was estimated to be approximately US$9.6 billion in 2019, US$4.8 billion in 2020 and US$5.8 billion in 2021. As for Ukrainian realities, statistical data indicate that in 2021, the budget of Ukrainian communities received 244 million UAH of tourist tax. This index is 86.8% higher than in 2020, which amounted to UAH 130.6 million, and also 20% higher than the similar index of 2019 – when UAH 196 million came to the budget. In the first half of 2022, revenues from this industry to the state budget of Ukraine decreased by 25.7% compared to 2021 because of military actions on the territory of Ukraine. The pace of digital transformation has been accelerating all over the world in past few years. It was found that COVID-19 has been a catalyst in the tourism and hospitality sector's drive to innovate and integrate new technologies. The main reasons for creating or improving the digital marketing strategy by a service company were identified, in particular: the constant growth of the number of Internet users and the intensity of Internet use, buyers and competitors are increasingly moving online, there is an increase in the need for business and buyers in a safe and convenient online environment, traditional marketing measures for enterprises in the service sector in conditions of instability of the external environment become less effective. Solutions to increase the effectiveness of the company's marketing strategy were given in the article.