Towards Marketing 4.0: Vision and Survey on the Role of IoT and Data Science

According to KPMG, Internet of Things (IoT) technology was among the top 10 technologies of 2019. It has been growing at a significant pace, influencing and disrupting several application domains. It is expected that by 2025, 75.44 billion devices will be connected to the Internet. These devices generate massive amounts of data which, when harnessed using the power of data science (DS) techniques and approaches such as artificial intelligence (AI) and machine learning (ML), can provide significant benefits to economy, society, and people. Examples of areas that are being disrupted are digital marketing and retail commerce services in smart cities. This paper presents a vision for Marketing 4.0 that is underpinned by disruptive digital technologies such as IoT and DS. We present an analysis of the current state of the art in IoT and DS via the three pillars of marketing: namely, people, products, and places. We propose a blueprint architecture for developing a Marketing 4.0 solution that is underpinned by IoT and DS. We conclude the paper by highlighting the open challenges that need to be addressed in order to realise the Marketing 4.0 blueprint architecture, including supporting the integration of IoT data concerning people, products, and places and using DS to make efficient and effective recommendations.

Performance Evaluation of Green Furniture Brands in the Marketing 4.0 Period: An Integrated MCDM Approach

This study aims to develop a framework that enables green marketing practices to regulate the performance evaluation criteria (GFBPC) of consumers and green furniture brands in the Marketing 4.0 period and to prioritize green furniture brands. The first stage was the literature review and decision-making group;it included GFBPC and the selection of three green furniture brands with the highest market value in Turkey. We then applied AHP to determine and prioritize benchmark weights, and TOPSIS to rank the performances of selected brands by GFBPC. We performed SA to test the accuracy of the findings. The results revealed that the Co-creation of Value and Pricing criteria have the highest value, and “Brand Y” is the best. Among the evaluation contributions of the study are a new understanding of green furniture performance criteria, and an integrated framework for new application methods for green marketing. With the Marketing 4.0 period, it is among the first of its kind to offer sustainable solutions to evaluate green marketing practices and increase the performance of green furniture brands in this regard. The results can help furniture industry stakeholders understand ways to compete in the green market and sustainable development.