The impact of marketing innovations and business plans on business sustainability during the COVID-19 pandemic

Abstract

During the COVID-19 pandemic, businesses experienced various challenges, resulting in economic decline. The pandemic also threatened their sustainability. Thus, business actors have to consider this condition seriously. This study aims to analyze the impact of marketing innovations and business plans on business sustainability during the COVID-19 pandemic. The paper used quantitative methods. The population included 689 micro and small enterprises affected by COVID-19 in Palu City, Indonesia. It involved 253 respondents as samples selected using the Slovin formula with an error rate of 5%. Data analysis consisted of descriptive statistical testing and multiple linear regression. The findings showed that marketing innovations and business plans significantly affected business sustainability during the COVID-19 pandemic both simultaneously and partially. Then, simultaneously, it was indicated by the value of Fcount > Ftable (10.615 > 3.031) at a significance alpha (α) of 0.05 or Sig. F < 0.05. The significance value of 0.000 is smaller than the alpha (α) significance of 0.05, meaning it is significant. Partially, the business plan variable showed that tcount was higher than ttable (2.780 > 1.650). The significance value was 0.006, which is smaller than the alpha (α) significance of 0.05, meaning it is significant. The marketing innovation variable showed that tcount was higher than ttable (3.878 > 1.650). The significance value obtained was 0.000, which is smaller than the alpha (α) significance of 0.05, meaning it is significant.

Keywords

• digitalization
• entrepreneurs
• Indonesia
• online marketing
• small business
• strategy