Revolutionizing Marketing Strategies: A Study of Modern Marketing

Technologies and Their Adoption by Maharashtrian Women

Entrepreneurs in Business Ventures

Aboli Niphadkar

, Rachna Chaturvedi

, Ajay Kumar Mishra

and Ninad Murlidhar Gawande

Pimpri Chinchwad University (PCU), Pune, Maharashtra, India

Centre for Women Entrepreneurship, Rabindranath Tagore University, Bhopal, Madhya Pradesh, India

Pimpri Chinchwad University (PCU), Pune, Maharashtra, India

Vishwakarma University, Pune, India

Keywords: Marketing Strategies, Modern digital Marketing Technologies, Maharashtrian Women Entrepreneurs,

Business Ventures, Digital Marketing, Social Media Marketing, E-commerce, Personalization, Customer

Relationship Management, Mobile Marketing, Online Advertising, Search Engine Optimization, Influencer

Marketing.

Abstract: Marketing is an essential aspect of any business venture. It is an effective tool for creating awareness about

products or services and promoting them to the target audience. This research paper aims to study the adoption

of modern digital marketing technologies by Maharashtrian women entrepreneurs in business ventures. The

study is based on a survey of 100 Maharashtrian women entrepreneurs in various business sectors, ranging

from manufacturing to service industries. The study focuses on exploring the relevance and adoption of

modern digital marketing technologies by these entrepreneurs, the challenges they face in adopting these

technologies, and the benefits they obtain from their adoption. The study found that most Maharashtrian

women entrepreneurs in business ventures are aware of modern marketing technologies. Still, their adoption

rate is relatively low due to various challenges, such as lack of technical knowledge, financial constraints, and

resistance to change. The study further identifies the most used modern digital marketing technologies among

Maharashtrian women entrepreneurs in business ventures, including social media marketing, email marketing,

content marketing, and search engine optimization. The study also explores the impact of the COVID-19

pandemic on the adoption of modern digital marketing technologies by Maharashtrian women entrepreneurs

in business ventures. The pandemic has created a new business environment, forcing entrepreneurs to adopt

modern digital marketing technologies to stay relevant and competitive. In conclusion, the study highlights

the importance of digital marketing technologies in the success of business ventures, particularly those led by

Maharashtrian women entrepreneurs. The study provides insights into the relevance and adoption of modern

digital marketing technologies by these entrepreneurs, the challenges they face in adopting them, and the

benefits they obtain from their adoption. The findings of this study can be used by policymakers, business

associations, and other stakeholders to develop strategies that promote the adoption of modern digital

marketing technologies by Maharashtrian women entrepreneurs in business ventures..

1 INTRODUCTION

Entrepreneurship has traditionally been a male-

dominated field, but in recent years, there has been a

growing number of women who are breaking down

barriers and creating successful businesses. Women

entrepreneurs have made significant strides in various

industries, including technology, healthcare, fashion,

and finance, to name a few. These women are not

only creating successful businesses but also

challenging gender norms and inspiring others to do

the same. The rise of women entrepreneurs is a

positive sign for gender equality and economic

growth. However, despite the progress made, women

still face unique challenges in the entrepreneurial

world. This essay will explore the contributions of

women entrepreneurs, the challenges they face, and

the support available to help them succeed.

Maharashtra is a state in western India that is

renowned for its rich cultural heritage and diverse

634

Niphadkar, A., Chaturvedi, R., Mishra, A. and Gawande, N.

Revolutionizing Marketing Strategies: A Study of Modern Marketing Technologies and Their Adoption by Maharashtrian Women Entrepreneurs in Business Ventures.

DOI: 10.5220/0012500000003792

In Proceedings of the 1st Pamir Transboundary Conference for Sustainable Societies (PAMIR 2023), pages 634-645

ISBN: 978-989-758-687-3

cuisine. The state is also home to a growing number

of women entrepreneurs who are making significant

contributions to the economy and society.

Maharashtrian Women Entrepreneur are not only

generating wealth and employment opportunities but

also promoting gender equality and inspiring others

to follow in their footsteps.

Marketing is an essential aspect of any business

venture, and the adoption of modern marketing

technologies has revolutionized the way businesses

reach their target audience. The digital age has

introduced several marketing technologies, such as

social media marketing, content marketing, and email

marketing that have changed the traditional

marketing landscape. In recent years, women

entrepreneurs have become a significant force in the

business world. In India, women entrepreneurs have

made significant contributions to the country's

economy, with their business ventures creating jobs

and driving growth. Maharashtra is one of the leading

states in India when it comes to women

entrepreneurship, and the aim of this study is to

analyze the adoption of modern marketing

technologies by Maharashtrian women entrepreneurs.

Digital marketing has become an increasingly

critical aspect of entrepreneurship, as it allows

businesses to reach a wider audience and generate

more leads and revenue. Women entrepreneurs in

Maharashtra are no exception, with many of them

recognizing the importance of digital marketing in

growing their businesses. However, the adoption

pattern and behavior among these entrepreneurs

varies, depending on several factors. One of the main

factors affecting digital marketing adoption is age.

Younger women entrepreneurs tend to be more tech-

savvy and are therefore more likely to adopt digital

marketing techniques. On the other hand, older

women entrepreneurs may be less familiar with

digital marketing and may require more support and

training to adopt these techniques.

Digital marketing adoption can also be affected by

the type of business. For instance, businesses in the

hospitality or e-commerce industries may have a

greater need for digital marketing compared to those

in agriculture or handicrafts. This is because the

former may have a larger target audience and require

more online visibility to be successful. Also, the

availability of resources, such as capital and

personnel, can also affect digital marketing adoption.

Women entrepreneurs with more resources may be

able to invest in more advanced digital marketing

techniques and platforms, such as social media

advertising or email marketing.

Many women entrepreneurs in Maharashtra are

adopting digital marketing, there is still a need for

more awareness, training, and support to ensure that

they can leverage the full potential of these

techniques to grow their businesses. The study's

expected outcomes is to provide an in-depth

understanding of the modern marketing technologies

adopted by Maharashtrian women entrepreneurs, the

challenges they face in adopting these technologies,

and the strategies they use to overcome these

challenges. The study will also provide

recommendations to support Maharashtrian women

entrepreneurs in adopting modern marketing

technologies to improve their business ventures'

success.

The study is important because the adoption of

modern marketing technologies can have a significant

impact on the success of a business venture. Women

entrepreneurs face several challenges in the business

world, and the adoption of modern marketing

technologies can help them reach a wider audience,

build brand awareness, and improve their sales.

However, the adoption of modern marketing

technologies requires resources and expertise, and

many women entrepreneurs may not have access to

these resources. Therefore, it is important to

understand the adoption of modern marketing

technologies by women entrepreneurs and identify

the challenges they face to provide them with the

necessary support.

Be advised that papers in a technically unsuitable

form will be returned for retyping. After returned the

manuscript must be appropriately modified.

2 PROBLEM STATEMENT

The adoption of modern marketing technologies,

particularly internet marketing, online strategy,

online social networking, e-commerce, and mobile

commerce, by Maharashtrian women entrepreneurs

in business ventures remains largely unexplored.

Despite having access to some of the cheapest data

rates on the Asian continent, there is limited literature

available on the maximum utilization of digital

technology and social media platforms by these

entrepreneurs. This presents a significant knowledge

gap that needs to be addressed to encourage the

systematic adoption of modern digital marketing

technologies by Maharashtrian women entrepreneurs.

This study seeks to meet that void by determining

the success rate of Maharashtrian women

entrepreneurs who have used digital platforms for e-

marketing campaigns, e-commerce, and m-commerce

Revolutionizing Marketing Strategies: A Study of Modern Marketing Technologies and Their Adoption by Maharashtrian Women

Entrepreneurs in Business Ventures

635

for commercial transactions. The research will use a

structured questionnaire approach to investigate how

these technologies might be used in both official and

informal business ventures. The research findings

will provide insights and assistance to other female

entrepreneurs on how to embrace and integrate digital

technology and social media platforms in a systematic

manner to achieve entrepreneurial success in their

companies.

3 RESEARCH QUESTION

The above statement led to the following research

questions:

• What is the current level of adoption of

modern digital marketing technologies by

Maharashtrian women entrepreneurs in business

ventures?

• What are the main challenges faced by

Maharashtrian women entrepreneurs in adopting and

utilizing modern digital marketing technologies in

their ventures?

• How can ICTs be effectively used to generate

and enhance entrepreneurial possibilities for

Maharashtrian women entrepreneurs?

• What are the factors that influence the

willingness of Maharashtrian women entrepreneurs

to invest resources towards social media and other

modern digital marketing technologies for the

advantage of their ventures?

• What are the benefits and opportunities that

Maharashtrian women entrepreneurs derive from the

adoption and utilization of modern digital marketing

technologies in their ventures?

4 HYPOTHESIS

Ho1 The pattern of utilizing digital marketing media

by female entrepreneurs is not significantly different.

Ho2 There is no noticeable difference between the

preferred digital marketing tools used by women

business owners.

Ho3 The degree to which women business owners

have adopted digital marketing is not much different.

5 LITERATURE REVIEW

5.1 Digital Marketing in Venture

The prominence of digital marketing cannot be

inflated in this contemporary era as it has a

considerable impact on business performance. The

incorporation of access, skills, and motivation in the

utilization of digital marketing medium is crucial in

driving creative and global businesses. India, for

instance, is a nation that absolutely encourages the

acceptance of ICT in development. To ensure that

Indians can compete globally, the government has put

in place measures, including the provision of

technological infrastructure. The aggressive

evolution of internet marketing since the 1990s and

2000s has revolutionized the way businesses and

brands are operated. Through digital communication

technologies and marketing tools, entrepreneurs and

business owners can reach a larger audience. Digital

marketing campaigns are more effective as digital

platforms are embedded in marketing strategies and

the daily lives of consumers, who now prefer digital

devices to physical stores.

In today's era, Search Engine Optimization or as

usually know as SEO is the most prevalent digital

marketing tool. According to Wienclaw (2017), SEO

is the method of enhancing the likelihood of a website

appearing in real-time electronic search findings and

being placed prominently. Wienclaw (2017)

identifies several SEO strategies, including

customizing website content, adding keywords,

properly indexing the website, and ensuring the

website content is original. Martinez-Rolan and

Pineiro-Otero’s (2016) research reveals that Google

search engine is responsible for 88 percent of

worldwide access, further emphasizing the

importance of SEO. Additionally, Kate and Gaikwad

(2016) contend that online marketing without SEO is

inadequate, underscoring the need to incorporate it

into digital marketing strategies.

The paper by Kanu A. (2019), aims to investigate

the marketing practices of small and medium

enterprises (SMEs) in a developing nation. The study

focuses on the challenges that SMEs face while

implementing marketing practices and proposes ways

to overcome these challenges. The findings of the

study reveal that SMEs face several challenges while

implementing marketing practices. These challenges

include a lack of resources, inadequate knowledge

and skills, limited budget, and the absence of a

marketing plan. The study also identifies some of the

marketing practices that SMEs are currently using,

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which include personal selling, advertising, and sales

promotion.

The paper by Sukhmani (2012), aims to

investigate the impact of promotion mix on sales

growth of Fast-Moving Consumer Goods (FMCG)

companies in rural markets. The study focuses on

identifying the most effective promotion mix

elements for FMCG companies operating in rural

markets. The findings of the study reveal that all

promotion mix elements have a positive impact on

sales growth of FMCG companies in rural markets.

However, advertising, personal selling, and sales

promotion were found to be the most effective

promotional mix elements for FMCG companies

operating in rural markets. The study also found that

the effectiveness of promotion mix elements varies

for different FMCG products.

5.2 Modern Age Business Performance

Business performance is of utmost importance for any

company or organization. An effective business

performance can lead to several advantages such as

resource management, wealth creation, and

employment opportunities. To enhance sales

performance, entrepreneurs need to formulate a

strategy or approach to run their business efficiently.

According to the research by Talib et.al. (2017),

countryside real-time businesspersons can expand

their market prospects as online enterprises introduce

a unique mechanism for borderless transactions. The

use of information technology as a medium of

communication can open markets to a wider

audience, enabling easier access to an unlimited

number of customers.

The paper by Gunawan. G, (2020) begins by

discussing the importance of digital marketing in the

modern business environment. The authors highlight

that digital marketing has become increasingly

popular due to the rise of the internet and social

media. The paper then provides a comprehensive

literature review of digital marketing, including its

definition, benefits, and challenges. The findings of

the study reveal that perceived usefulness, perceived

ease of use, and attitude towards digital marketing are

the main determinants of the use of digital marketing

in the creative industries in Tasikmalaya. The study

also found that the use of digital marketing has a

significant positive impact on marketing

performance, including customer satisfaction,

customer loyalty, and sales growth.

The paper by Patil, N (2022) focuses on

identifying the factors that influence digital

marketing adoption and its impact on business

performance. The authors adopt a quantitative

research approach and collect data from a sample of

200 SMEs and start-ups in India. The data was

collected through a structured questionnaire, and the

statistical tool SPSS was used to analyze the data. The

findings of the study reveal that the perceived

usefulness, perceived ease of use, and perceived

compatibility are the main factors that influence

digital marketing adoption by SMEs and start-ups.

The study also found that digital marketing adoption

has a significant positive impact on business

performance, including customer acquisition,

customer retention, and sales growth.

6 RESEARCH METHODOLOGY

Research conducted involved a series of case studies

to examine the utilization of technology among

female entrepreneurs in Maharashtra, India. The state

of Maharashtra is renowned as the economic hub of

the East Indian region, making it an ideal location for

data collection. Through a structured questionnaire

and analysis of 100 female entrepreneurs from

various age groups, researchers gathered an online

data. The selected sample were diverse, with different

business interests, and all were based in Maharashtra,

India. While some of the businesses were formal,

others were informal. The women entrepreneurs in

the study effectively harnessed the power of

technology and social media platforms to market their

products or services, communicate with clients, and

expand their networks.

The study used a mixed-method approach to

collect and analyze the data. The Quantitative data

was collected through a structured questionnaire

distributed via online platform to a sample of

Maharashtrian women entrepreneurs. Secondary data

was collected through sources, such as social media

pages, official websites of the businesses and reports,

to provide context and background information of the

entrepreneurs.

The digital space was the primary source of

information, with technology tools playing a crucial

role in data gathering. A set of parameters were

developed and utilized as a research instrument to

obtain data. The research design corresponds to the

research demand, which is to empower the researcher

to gather information of the selected women

entrepreneur from various official social media

channels and portal at a specific time.

Revolutionizing Marketing Strategies: A Study of Modern Marketing Technologies and Their Adoption by Maharashtrian Women

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7 RESEARCH AREA

The identified areas are from the state of Maharashtra,

India. To obtain a relevant sample, typical urban

districts with new modern metropolitan and

socioeconomic aspects were chosen. The selection of

this area is also based on the technological

advancements happened in the state and its

surroundings, which corresponds to the

characteristics of ICT users. It will be feasible to

provide an overview of entrepreneurial activity by

selecting a sample in this research area.

8 DATA ANALYSIS

The study received 148 responses from women

entrepreneurs of micro and small enterprises based in

Maharashtra. After discarding 4 responses for

inconsistency and accounting for 44 respondents who

reported not using digital marketing, the remaining

100 respondents were found to be valid and using

digital marketing in some form for their business.

The following data is gained from the survey

conducted during this study which elaborated on the

relationship between various factors and its impact on

the business ventures.

Table 1: Survey Data on the degree of acceptance of digital marketing among female business owners.

Classification

No. of Respondents.

Percentage of

Respondents.

Age

18 – 25 years

28%

26 – 35 years

57%

36 – 45 years

11%

45 and above

Total

100

100%

Educational

Qualification

Under Graduates

37%

Graduates

30%

Postgraduates

11%

Other

22%

Total

100

100%

Marital Status

Single

31%

Married

46%

Widow

19%

Divorce

Total

100

100%

Monthly

Earnings

Below 50,000

29%

50,000 – 1,00,000

52%

1,00,000 – 5,00,000

16%

Above 5,00,000

Total

100

100%

Type of

ownership in

Business

Partner

23%

Sole Proprietor

41%

Limited Liability Company

14%

Non- Profit Organisation

12%

Corporation

10%

Total

100

100%

Type of Business

Activities

Production

21%

Service

43%

Trading

27%

Other

Total

100

100%

Category of

Start-up

Lifestyle

34%

Social enterprises

Technology

E-commerce

Biotech

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FinTech

Food and beverage

28%

Other

Total

100

100%

Budget allocated

for Digital

Marketing

Less than 10%

46%

10% - 20%

23%

20% - 40%

14%

40% - 60%

60% - 80%

80% and above

Total

100

100%

Table 2 illustrates that social media marketing is the

most frequently used digital marketing channel

among women entrepreneurs, followed by mobile

phone advertising and email marketing. Viral

marketing is also popular among women

entrepreneurs of small and medium-sized enterprises.

Medium-sized enterprises tend to adopt SEO, viral

marketing, influencer marketing, and pay-per-click

advertising more than small enterprises. The usage of

content and affiliate marketing is similar across all

enterprise categories.

Table 2: Digital Marketing Channel Adoption among Enterprise Categories.

Business Categories

Micro Business

Small

Business

Medium

Business

Overall

Average

Average Ranking

Average

Ranking

Average

Ranking

Utilization of Digital

Marketing Channels

Influencer Marketing

0.09

0.02

0.01

0.04

Content Marketing

0.08

0.03

0.04

0.05

Email Marketing

0.57

0.63

0.71

0.64

SEM Pay-Per-Click

Advertising

0.01

0.03

0.07

0.04

Mobile Phone

Advertising

0.29

0.37

0.68

0.45

Viral Marketing

0.04

0.13

0.11

0.09

Affiliate Marketing

0.04

0.03

0.01

0.03

SEO

0.01

0.02

0.05

0.02

Social Media

Marketing

0.73

0.45

0.88

0.68

The study found that 68% of respondents use social

media, 45% use mobile phone advertising, and 64%

use email marketing. Viral marketing is used by 9%

of respondents, while SEO is used by only 2%,

content marketing by 5%, influencer marketing by

4%, affiliate marketing by 3%, and pay-per-click

advertising by just 4%. The different mean values

indicate that there is a significant difference in the

preferred digital marketing channels adopted by

women entrepreneurs, leading to the rejection of the

null hypothesis.

Table 3: Respondent Distribution Based on Social Media Marketing Platform Adoption Preferences

Social

Media

Platforms

Technological Adoption Preference by Women Entrepreneur

Least

2 3 4 5 6 7 8 9 Most 10

YouTube 37 2 9 1 2 7 4 1 0 16

Revolutionizing Marketing Strategies: A Study of Modern Marketing Technologies and Their Adoption by Maharashtrian Women

Entrepreneurs in Business Ventures

639

Facebook 8 7 8 6 9 0 8 5 2 47

WhatsApp 2 4 7 0 4 6 0 7 6 49

Instagram 17 6 0 1 8 9 2 6 7 35

Twitter 27 5 2 0 0 1 1 9 1 19

LinkedIn 38 8 6 1 7 1 2 7 8 15

Pinterest 56 1 7 9 0 6 8 6 4 7

Others 68 4 0 8 0 1 7 0 1 1

Table 3 provides a cumulative overview of the social

media platforms that women entrepreneurs have

adopted for their marketing purposes. As noted in

Table 2, social media marketing was found to be the

most popular digital marketing channel. The results

show that WhatsApp is the most commonly used

social media platform for marketing and

communication among women entrepreneurs,

followed by Facebook in second place. Instagram

ranks third, while Twitter is the fourth most preferred

platform, with YouTube coming in fifth. LinkedIn

ranks sixth, while Pinterest is the least preferred

option among the platforms given to respondents. All

other social media platforms are grouped under

"Others," occupying the last rank.

These findings indicate that there is a difference

in the adoption preference of social media platforms

among women entrepreneurs, which supports the first

objective of the study. Consequently, there is a

significant difference in the preferred digital

marketing tools adopted by women entrepreneurs,

leading to the rejection of the null hypothesis.

8.1 Women Entrepreneurs Investing

and Allocating Budget for Digital

Marketing

The graph in Figure 1, reveals the rate of investment

in digital marketing among women entrepreneurs.

The data suggests that the majority of them (46%) are

spending 10% or less of their marketing budget on

digital marketing, and 23% are investing less than

20%. Although the literature and industry trends

recommend a minimum of 20-40% for digital

marketing to ensure its benefits on business

performance, only 14% of the respondents in the

study sample were in that range and only 9% were

spending more than 40% of their marketing budget on

digital marketing.

Figure 1:

Women entrepreneurs investing and allocating budget for digital marketing.

8.2 Women Business Owners' Digital

Marketing Adoption:

Female entrepreneurs who utilize digital marketing

can be sorted into three distinct levels: low, medium,

and high adopters. The levels of adoption are

determined with an adoption score calculated for each

respondent. The researcher operationalizes the score

calculation as follows:

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Total Adoption Score = Utilization of digital tools X

Financial investment in digital marketing

The table depicted in Figure 2 demonstrates the

division of respondents according to their individual

adoption ratings, and they were subsequently sorted

into various acceptance levels. The graph in Figure 2

displays the portion of female entrepreneurs arranged

into three acceptance levels.

Table 4: The Adoption Score of the Respondents was broken down by distribution.

Total Adoption Score

Degree of Adoption

Legitimate Percentage

1 to 20

Low

21 to 40

Medium

41 & <

High

Total

100

Figure 2: The Adoption Score of the Respondents was broken down by distribution.

The Figure 2 demonstrates the proportions of female

entrepreneurs split into three adoption levels. The

most prominent number (69%) of female

entrepreneurs are in the low adoption level, 23% are

in the medium level, and the least (8%) are in the high

adoption level. This implies that the use of digital

media for marketing and communication by female

entrepreneurs is not up to market standards. This

difference in levels of adoption of digital marketing

among female entrepreneurs confirms that the Null

Hypothesis is rejected.

9 FINDING AND DISCUSSION OF

THE SOCIAL MEDIA

CHANNELS:

Surveying the social media channels of women

entrepreneurs is an important endeavour in order to

understand the landscape of female entrepreneurship.

By the survey conducted these channels, we were able

to gain insight into the different types of businesses

that women are creating and the challenges, successes

and resources they are using to develop and grow their

businesses. Additionally, because of surveying these

channels, the study provided a valuable information

about the types of content that resonates with female

entrepreneurs, the types of conversations they are

having, and the types of resources they are sharing. By

Revolutionizing Marketing Strategies: A Study of Modern Marketing Technologies and Their Adoption by Maharashtrian Women

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641

doing so, we gained a better understanding of the

unique needs and opportunities of women

entrepreneurs and how best to support them.

Overall, this survey of social media channels for

women entrepreneurs has found that LinkedIn,

Instagram, and Facebook are the most popular

channels for women entrepreneurs to market their

businesses and connect with potential customers.

Additionally, many women entrepreneurs are finding

success with Twitter, YouTube, and Pinterest. As the

use of social media continues to grow, it is important

for women entrepreneurs to stay up-to-date on the

most popular channels, as well as identify which

channels are best for their businesses. By doing so,

they can maximize the potential of their social media

marketing efforts and reach more potential customers

online.

Women entrepreneurs should also consider using

other platforms such as webinars, virtual events, and

online courses to build their presence online.

Additionally, they should be sure to stay consistent in

their content and engagement with followers, as this

will help them build relationships and trust with their

customers. Finally, women entrepreneurs should also

take advantage of tools such as Hootsuite and Buffer

to help them manage their online presence more

efficiently and effectively. With the right approach

and the right tools, women entrepreneurs can

maximize the potential of their social media marketing

efforts and reach more potential customers online.

9.1 Significant Issues Maharashtrian

Women Entrepreneurs Encounter

Maharashtra, one of India's most populous states, has

been at the forefront of India's economic growth in

recent years. However, women entrepreneurs in

Maharashtra face several unique challenges. Despite

several initiatives by the government to encourage

female entrepreneurship, women entrepreneurs in

Maharashtra continue to face several problems,

which can deter them from pursuing their

entrepreneurial dreams. The study found out various

significant issues that Maharashtrian Women

Entrepreneurs encounter on daily basis are as follow:

Figure 3: Problems faced by Women

Entrepreneurs in Maharashtra.

9.1.1 Lack of Education and Skill

Development Opportunities

As per the study conducted, 89% of the participating

women mentioned that the primary challenges faced

by them is the lack of education and skills

development opportunities and knowledge. Many

women entrepreneurs lack formal education and

business training, which can hamper their ability to

succeed in business. Additionally, women

entrepreneurs often face discrimination when it comes

to accessing education and training opportunities.

9.1.2 Lack of Access to Funding

Another major challenge, faced by women

entrepreneurs in Maharashtra is the lack of access to

funding, which was mentioned by 78% of the

participating women’s. Access to finance is critical to

any business's success, and women entrepreneurs in

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Maharashtra face difficulty in raising capital due to

lack of collateral, lower credit ratings, and lack of

networks. Additionally, cultural, and societal norms

prevent women from owning property and assets,

making it difficult for them to access finance.

9.1.3 Lack of Support Network

Issues which was encountered in the study faced by

women entrepreneurs is the lack of support networks.

The participants informed that starting and running a

business can be a lonely journey, and women

entrepreneurs need support networks to overcome

this isolation. However, the lack of such networks in

Maharashtra can make it challenging for women

entrepreneurs to connect with other entrepreneurs,

mentors, and investors.

Finally, women entrepreneurs in Maharashtra also

face challenges in terms of marketing and branding.

Women entrepreneurs often struggle to gain visibility

and brand recognition, which can make it challenging

for them to reach their target customers. Additionally,

cultural and societal norms often prevent women

from engaging in marketing and branding activities,

which can limit their ability to grow their business.

Gender discrimination: Women entrepreneurs in

Maharashtra face gender-based discrimination in

various forms, which limits their access to resources

and opportunities. For instance, women entrepreneurs

may face biases and stereotypes when pitching their

businesses to investors, or they may find it

challenging to get credit due to lack of collateral or

lower credit ratings. Gender discrimination can also

create a hostile or unwelcoming environment for

women in business, leading to harassment and other

forms of mistreatment. Additionally, cultural and

societal expectations around women's roles and

capabilities can limit their ability to succeed in

business.

Balancing work and family responsibilities:

Women entrepreneurs in Maharashtra often face

challenges in balancing work and family

responsibilities. Due to social and cultural

expectations, women are often expected to prioritize

family over their business, which can make it

challenging to dedicate the necessary time and

resources to their business. Additionally, lack of

affordable and accessible childcare options can make

it challenging for women entrepreneurs to manage

their responsibilities as both business owners and

caregivers.

Cultural and social barriers: Cultural and social

barriers can limit women's access to resources,

support networks, and markets. Societal norms that

discourage women from pursuing entrepreneurship or

working outside the home can limit their

opportunities and create a sense of isolation.

Additionally, women entrepreneurs may face cultural

and linguistic barriers that can make it challenging to

connect with potential customers or investors. These

barriers can limit the growth potential of women-led

businesses and hinder their ability to achieve success.

Lack of representation and diversity: Women

entrepreneurs in Maharashtra may also face

challenges related to lack of representation and

diversity in the entrepreneurship ecosystem. Women

entrepreneurs may find it challenging to find role

models, mentors, and advocates who understand their

unique experiences and challenges. This lack of

representation and diversity can limit women's access

to networks, funding, and other resources, and

contribute to a sense of isolation and exclusion.

This bar graph highlights the most common

challenges faced by women entrepreneurs in

Maharashtra when it comes to digital marketing, with

lack of understanding of digital marketing strategies

being the most prevalent issue. It also shows that

limited budget for digital marketing and lack of

technical expertise are also significant challenges.

This graph can be used to inform policy decisions and

initiatives to address these challenges and

These challenges add more nuances to the digital

marketing landscape faced by women entrepreneurs

in Maharashtra. Difficulty in identifying and reaching

the target audience is a common challenge faced by

businesses, but it can be more pronounced for women

entrepreneurs who may be working in traditionally

male-dominated industries. Lack of content creation

and curation skills can also limit the effectiveness of

digital marketing efforts, especially in today's

content-driven digital world. Lastly, staying updated

on the latest digital marketing trends and changes in

the industry is an ongoing challenge that requires

consistent learning and adaptation. By addressing

these challenges, we can help women entrepreneurs

in Maharashtra leverage digital marketing to grow

their businesses and reach their full potential.

Revolutionizing Marketing Strategies: A Study of Modern Marketing Technologies and Their Adoption by Maharashtrian Women

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Figure 4: Problems faced by women entrepreneurs in Maharashtra in terms of Digital Marketing utility.

10 CONCLUSIONS

The level of adoption of these technologies by

Maharashtrian women entrepreneurs in business

ventures may vary depending on factors such as their

industry, target audience, and marketing budget.

However, leveraging these modern digital marketing

technologies can help businesses expand their reach,

engage with customers, and grow their brand

presence. The study provides valuable insights into

the challenges faced by women entrepreneurs in the

adoption of modern marketing technologies and

provide recommendations to overcome these

challenges. This study's findings can be used to

support and encourage women entrepreneurs in

Maharashtra to adopt modern marketing technologies

to improve their business ventures' success.

The study shows that the current level of adoption

of modern digital marketing technologies by

Maharashtrian women entrepreneurs in business

ventures is still relatively low. Despite the

advancements of technology, women entrepreneurs

in Maharashtra often lack access to the necessary

resources, knowledge, and skills to effectively utilize

digital marketing tools. Additionally, there is a lack

of awareness about the benefits of digital marketing

for businesses in the region. As a result, many women

entrepreneurs in the region have yet to implement

digital marketing strategies in their businesses.

The study also shows that the Maharashtrian

women entrepreneurs often face a variety of

challenges when it comes to adopting and utilizing

modern digital marketing technologies in their

ventures. Some of the main challenges include a lack

of access to resources, inadequate financial capital,

and limited technical knowledge. Many of the women

entrepreneurs lack the resources to access the latest

digital marketing technologies, making it difficult for

them to stay up to date with the latest trends and

strategies. Additionally, their limited financial capital

can make it difficult for them to invest in the

necessary tools and resources for their businesses.

Finally, many women entrepreneurs lack the

technical knowledge needed to effectively use digital

marketing technologies, making it difficult for them

to take full advantage of modern digital marketing

strategies.

It was also observed that ICTs (Information and

Communication Technologies) can provide a wide

variety of opportunities for Maharashtrian women

entrepreneurs to effectively generate and enhance

their entrepreneurial possibilities. For instance, ICTs

can be used to provide access to global markets and

resources, as well as to enable greater collaboration

and communication. Additionally, ICTs can be used

to create digital platforms or networks where women

entrepreneurs can access resources, guidance, and

networking opportunities. Additionally, ICTs can be

used to provide training and support to women

entrepreneurs, such as helping them develop business

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plans, giving them access to financial assistance, and

helping them to find mentors and investors. Finally,

ICTs can be used to allow women entrepreneurs to

access and share best practices, knowledge, and

research, which can help them to make informed

decisions and increase their chances of success.

The willingness of Maharashtrian women

entrepreneurs to invest resources towards social

media and other modern digital marketing

technologies for the advantage of their ventures is

influenced by a variety of factors. These include

access to technology and the internet, access to

affordable digital marketing services, knowledge and

experience in the use of digital marketing tools, the

perceived benefits of digital marketing, the

availability of resources, the cost of digital marketing

versus traditional forms of marketing, and the level of

competition faced by the venture. Additionally,

cultural norms, beliefs, and attitudes can play a role

in influencing the willingness of Maharashtrian

women entrepreneurs to invest in digital marketing

technologies.

The survey also revealed that the adoption and

utilization of modern digital marketing technologies

by Maharashtrian women entrepreneurs can provide

a wide range of benefits and opportunities. These

include the ability to reach a larger, more diverse

customer base, increased visibility and brand

recognition, improved efficiency in marketing

activities, access to valuable customer insights, and

the ability to easily track and measure results.

Additionally, digital marketing technologies can help

entrepreneurs to optimize their operations and gain a

competitive edge in their industry. Maharashtrian

women entrepreneurs can also leverage digital

marketing tools to become more agile, build

relationships with customers, and create a more

personalized customer experience. With the right

strategies and tools, digital marketing can open new

avenues for growth and can help Maharashtrian

women entrepreneurs to maximize the potential of

their businesses. Women entrepreneurs in

Maharashtra face various challenges that can limit

their ability to succeed in business. Addressing these

challenges will require a concerted effort from the

government, private sector, and civil society

organizations to create a more supportive ecosystem

for women entrepreneurs. By creating more

opportunities, addressing cultural and social barriers,

and promoting diversity and inclusivity, we can

unlock the full potential of women entrepreneurs in

Maharashtra and help them contribute to the state's

economic growth.

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