Marketing Strategies 4.0: Recent Trends and Technologies in Marketing

Abstract

Industry 4.0 technologies have transformed the traditional methods of various study areas, using digitalization to fulfill sustainability and introduce innovative infrastructure. In the present era, every organization requires a distinct marketing strategy in order to meet customer and market demands in the form of products and services. Customer satisfaction, customer retention, customer behavior, customer profiling, and rewards systems are key parameters in the effective implementation of an organization’s marketing strategy for achieving better productivity. There are limited studies that have focused on discussing all the Industry 4.0 enabling technologies used in marketing for transforming the digital and intelligent ecosystem. Based on the analyses, this study identified the applications of the Industry 4.0 enabling technologies for market strategies, such as strategic information for customer satisfaction of the target customer; development of digital infrastructure for receiving real-time feedback on products and services; forecasting customer behavior to develop personalized messages or services; using business analytics to strengthen the quality of a product or service; developing effective simulations to monitor, test, and plan product improvements, based on consumer and market demand. Finally, a framework is recommended, and the vital recommendations for future adoption while maintaining sustainability are discussed.