American Journal of Business Management, Economics and Banking ISSN (E): 2832-8078 Volume 9, | Feb., 2023 P a g e | 119 www.americanjournal.org MODERN MARKETING IN THE CONTEXT OF THE DIGITAL ECONOMY: ANALYSIS OF CONCEPTS Shokhista Akhunova PhD, Docent, Fergana Polytechnic Institute, Fergana, Republic of Uzbekistan Email: sh.axunova@ferpi.uz Mekhri-Bonu Urinboeva Master's Student, Fergana Polytechnic Institute, Fergana, Republic of Uzbekistan A B S T R A C T K E Y W O R D S In the article, the concepts of digitization of the economy and digital transformation of the economy are conceptually analyzed. The interrelationship and interdependence of these definitions are examined. The features of the digital transformation of the economy were analyzed and its main advantages were highlighted. The role of marketing in the digital transformation of the economy was studied. In the conditions of digital transformation, the analysis of the main factors of the marketing environment was carried out, and the factors of the formation of a fundamentally new environment were determined. Changes in marketing concepts used in the modern economy are studied. In the context of the digital transformation of the economy, new marketing concepts are proposed. Engagement marketing, personalized marketing, retrospective marketing. As a reaction to changes in the external environment and the economy as a whole, a proportion of new concepts of marketing are implemented. economic development, digital transformation of the economy, engagement marketing, digital marketing, personalized marketing. Introduction Digital transformation is one of the main trends of economic development in the modern world. The changes to which all areas of human activity are subject are an objective response to the changed conditions of the economy. The pandemic and the spread of COVID-19 have played a decisive role in changing environmental conditions. Due to the transition of the main part of society's life to the online mode, changes have occurred in people's minds, the fear of using digital platforms and online stores has decreased, and the share of using electronic payments has increased. Digitization of the economy is the current stage of scientific and technical development, which consists in introducing certain types of innovations into real economic practice [1-4]. Any asset in use can be digitized. The existence of digital analogues implies a lack of uniqueness and therefore a competitive advantage. The formation of product value takes place in the intangible sphere. Information exchange and information itself act as a commodity. American Journal of Business Management, Economics and Banking Volume 9 Feb., 2023 P a g e | 120 www.americanjournal.org The Main Part The 21st century, which is experiencing the process of digitization, requires the introduction of a digital environment into every social interaction. It would not be wrong to say that the digital economy, which is equally interesting for all of us, is one step ahead of all industries in this period. A prosperous life for every state and society is ensured, first of all, through a strong economy. And digital business, its main driving force, is an area that needs more attention than ever [5-9]. In fact, it is natural for this industry to flourish in any country where there are sufficient development foundations for entrepreneurship. Moreover, in this regard, a feeling of confidence and interest arises among the people. The result of the first steps taken in this regard in our country encourages further development. To date, considerable work has been carried out in the field of economy, including entrepreneurship, which is one of the main participating sectors of the digitization process. So, what is the digital economy, that is, digital marketing, and how did it come about, what prospects does humanity expect from it? As technology continues to grow and evolve, it's safe to assume that digital marketing will follow suit. Digital marketing is the development of the digital economy, and the digital economy is the main "driver" for the development of the countries of the world today. Nowadays, almost all peoples of the world are directly or indirectly using digital technologies. According to experts, this figure has increased rapidly in the next few years. The web has provided endless opportunities for small and medium-sized businesses, including digital advertising, which has become an important part of their overall advertising efforts [10-17]. Digital marketing is the marketing of products or services using digital technologies, mainly on the Internet, including mobile devices, advertising and any other digital medium. The development of digital marketing since the 1990s and 2000s has changed the way brands and businesses use technology for marketing. As digital platforms are increasingly incorporated into marketing plans and daily life, and as people use digital devices instead of visiting physical stores, digital marketing companies have proliferated. In particular, we can witness the launch of similar Internet markets and digital services in our country, including Express.uz, Zoodmall.uz, Yandex taxi.uz, My taxi.uz and others [14-19]. According to Forbes, the official advertising e-source, the focus on integrated global marketing will increase, consumers will be able to connect between multiple content sources such as email on different aspects of the same topic, companies will be able to share information and the use of in-depth analysis will increase [20-24]. Currently, at the modern stage of digital economy development, Uzbekistan is characterized by the period of its formation and high dynamics of development. Taking into account the current world trends, the rapid use of ICT in all spheres of public life, as well as the general development of digital technologies, will become the driving force of innovation for Uzbekistan and enable integration and integration into the world economy. As in many countries, these scientific studies are relevant to our republic. Studying and analyzing the specific aspects of the development of the digital economy in Uzbekistan, as well as identifying the main problems of modern ICT implementation in enterprises [25-27]. To succeed, tomorrow's digital marketing companies will need a workforce with the education and skills to meet these future challenges and stay at the forefront of the industry. American Journal of Business Management, Economics and Banking Volume 9 Feb., 2023 P a g e | 121 www.americanjournal.org Digital marketing includes all marketing activities that use an electronic device or the internet. Businesses use digital channels such as search engines, social media, email and other websites to connect with current and prospective customers. Conclusion Digital marketing can help us reach a larger audience than traditional methods and target prospects who are more likely to buy our product or service. In addition, it is often more cost-effective than traditional advertising, allowing us to summarize the success daily and move it in the way we want. In conclusion, we can say that the rapid growth of digitalization will bring about a huge change in reality and positive results in the near future. In particular, the effect and change on the economy will be significant, and this will create a unique positive outcome of the expected future. We need to support this direction and be a direct participant in the process or some sense a catalyst for it. References 1. Butaboev, M., & Akhunova, S. (2023). Uzbekistan's Transition Strategy to a" Green" Economy and Its Significance. resmilitaris, 13(1), 1840-1851. 2. Akxunova, S. N. (2022). Methods of evaluating the economic efficiency of the introduction of the environmental management system in enterprises. ACADEMICIA: An International Multidisciplinary Research Journal, 12(11), 172-175. 3. Kurpayanidi, K., Nabiyeva, N., Akhunova, S., & Tukhtasinova, M. (2021). Analysis of the State's Macroeconomic Policy. Revista Geintec-Gestao Inovacao E Tecnologias, 11(4), 4669-4680. 4. Axunova, S. N. (2021). Small business in the digital economy and its security. Theoretical & Applied Science, (1), 347-349. 5. Axunova, S. N. (2021). Innovative technologies in the digital economy. Theoretical & Applied Science, (1), 290-292. 6. Ахунова, Ш. (2021). Эволюционная структура и функции конкуренции. Общество и инновации, 2(2), 87-92. 7. Namanzhanovna, A. S., & Shokhsanam, T. (2021). Global trends and prospects for the development of the innovation economy in Uzbekistan. European Scholar Journal (ESJ), 288-290 8. Namanzhanovna, A. S., & Shokhsanam, T. (2021). Financial innovation in the digital economy. International Journal on Orange Technologies, 3(5), 174-176. 9. Абдуллаева, Б. Ю. (2021). Инновационные решения для эффективного разрешения конфликтов в ВУЗах. Central Asian Journal of Innovations on Tourism Management and Finance, 2(11), 64-70. 10. Muminova, E., Honkeldiyeva, G., Kurpayanidi, K., Akhunova, S., & Hamdamova, S. (2020). Features of introducing blockchain technology in digital economy developing conditions in Uzbekistan. In E3S Web of Conferences (Vol. 159, p. 04023). EDP Sciences. 11. Qosimov, L. M., Qosimova, S. F., & Tursunov, Q. Q. (2020). Specific aspects of using Ferghana region's pilgrims for touristic purposes. Academic research in educational sciences, (3), 723-729. 12. Axunova, S. N. (2020). Digital transformation of economic systems producing international business investment activity. Theoretical & Applied Science, (5), 773-776. 13. Adxamovna, B. G. (2022). Characteristics and development trends of the world food market. World Bulletin of Management and Law, 15, 86-90. American Journal of Business Management, Economics and Banking Volume 9 Feb., 2023 P a g e | 122 www.americanjournal.org 14. Abdullayeva, B. Y. (2022). Повышение эффективности инновационных процессов на предприятиях текстильной промышленности. Nazariy va amaliy tadqiqotlar xalqaro jurnali, 2(4), 107-115. 15. Ахунова, Ш. Н. (2020). Улучшение экономических механизмов инвестиционной стратегии регионов. In минтақа иқтисодиётини инвестициялашнинг молиявий-ҳуқуқий ва инновацион жиҳатлари (pp. 178-183). 16. Ахунова, Ш. Н. (2020). ЭКОБИЗНЕС. Экономика и социум, (2), 104-107. 17. Adxamovna, B. G. (2022). Improving the organizational and economic mechanism of management of food industry enterprises. Conferencea, 71-75. 18. Ахунова, Ш. Н., & Абдуллаева, Б. (2015). Динамика и перспективы развития частного предпринимательства в Узбекистане. Журнал научных публикаций аспирантов и докторантов, (5), 23-25. 19. Adxamovna, B. G. (2021). Directions for Improving the Organizational and Economic Mechanism of Food Industry Management in the Digital Economy. Central Asian Journal of innovations on tourism management and finance, 2(12), 16-21. 20. Ахунова, Ш. Н. (2015). К проблемам оптимизации налоговой нагрузки субъектов предпринимательства. Молодой ученый, (2), 246-248. 21. Турсунбоева, М. А. (2023). Проблемы Формирования Профессиональной Коммуникативной Компетенции Студентов Нефилологического Факультета На Иностранном Языке. Periodica Journal of Modern Philosophy, Social Sciences and Humanities, 14, 29-31. 22. Adxamovna, B. G. (2022). Improving food safety mechanisms in Uzbekistan. World Economics and Finance Bulletin, 15, 135-139. 23. Кундузова, К. И., & Ахунова, Ш. Н. (2019). Пути развития дехканских хозяйств и повышения их эффективности. Известия Ошского технологического университета, (3), 273-277. 24. Ахунова, Ш. Н., & Аширалиев, Ф. (2015). К вопросам развития строительной индустрии в сельской местности Узбекистана. Молодой ученый, (6), 375-377. 25. Байкузиева, Г. А. (2019). Содержание и особенности структуры сельского хозяйства в регионах в условиях модернизации экономики. Проблемы современной науки и образования, (12-2 (145)), 102-105. 26. Kosimova, S. H., & Kosimov, L. M. (2020). Principles of forming a garden-park landscape design around historical monuments of the fergana valley. ACADEMICIA: An International Multidisciplinary Research Journal, 10(6), 1582-1589. 27. Ахунова, Ш. Н., & Толибов, И. Ш. У. (2019). К проблеме повышения эффективности привлечения инвестиций в экономику Узбекистана. Достижения науки и образования, (7 (48)), 18-22.