Share:


Revolutionised technologies for marketing: theoretical review with focus on artificial intelligence

    Bahman Peyravi Affiliation
    ; Julija Nekrošienė   Affiliation
    ; Liudmila Lobanova Affiliation

Abstract

Information technology and its implications have shown significant developments in the last decades. The internet revolution and digital marketing have created a shrinking force on mass media advertising. They have formed the backbone of personalisation, marketing automation, neuromarketing, viral marketing, voice recognition, and conversion optimisation, and thus, Artificial Intelligence (AI) has risen as the phenomenon in marketing activities. Theoretical analysis of relevant researches on AI tools and future trends, presentation of conceptual framework and methodology design, and presentation of the research findings are the objectives of the research. This study has potential limitations such as the data collection process and access to the relevant literature. AI for marketing has already become a significant part of today’s competitive world, which utilising the marketing opportunities to obtain business goals and create breakthrough using AI. Hence, this paper aims to illustrate the theoretical review on the nexus between AI and marketing, which would lead to understanding the future scope of AI and its penetration in marketing activities.

Keyword : artificial intelligence, marketing, marketing automation, information technology, big data, multichannel marketing, artificial intelligence tools

How to Cite
Peyravi, B., Nekrošienė, J., & Lobanova, L. (2020). Revolutionised technologies for marketing: theoretical review with focus on artificial intelligence. Business: Theory and Practice, 21(2), 827-834. https://doi.org/10.3846/btp.2020.12313
Published in Issue
Dec 8, 2020
Abstract Views
2024
PDF Downloads
1855
Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

References

Abbott. (2019). What will the digital healthcare revolution look like? https://www.abbott.com/corpnewsroom/products-and-innovation/what-will-the-digital-healthcare-revolution-look-like-.html

Agrawal, A., Gans, J., & Goldfarb, A. (2018). Prediction machines: the simple economics of artificial intelligence. Harvard Business Review Press. https://doi.org/10.7208/chicago/9780226613475.001.0001

Barutcu, S., Yaldir, A., & Hasiloglu, S. B. (2017). From mass to personalized mobile marketing strategies: the new dimensions through expert systems. European Scientific Journal, 13(10), 400–409.

Bughin, J., Hazan, E., Manyika, J., & Woetzel, J. (2017). Artificial intelligence: the next digital frontier. McKinsey Global Institute. https://doi.org/10.1016/S1353-4858(17)30039-9

Chaupham, P. (2018). AI to impact more than social media. https://www.warc.com/NewsAndOpinion/News/AI_to_impact_more_than_social_media/37631

Chui, M., Manyika, J., & Schwartz, D. (2018). The real-world potential and limitations of artificial intelligence. McKinsey Quarterly. https://www.mckinsey.com/featuredinsights/artificial-intelligence/the-real-worldpotential-and-limitations-of-artificial-intelligence

Corea, F. (2017). Artificial intelligence and exponential technologies: business models evolution and new investment opportunities (pp. 3–5). Springer International Publishing. https://doi.org/10.1007/978-3-319-51550-2

Daugherty, P. R., & Wilson, H. (2018). Human+machine: reimagining work in the age of AI. Harvard Business Review Press.

Davenport, T., Guha, A., Grewal, D., & Bressgott, T. (2019). How artificial intelligence will change the future of marketing. Journal of the Academy of Marketing Science, 48(7553), 24–42. https://doi.org/10.1007/s11747-019-00696-0

Dhar, V. (2016). The future of artificial intelligence. Big Data, 4(1), 5–9. https://doi.org/10.1089/big.2016.29004.vda

Emarsys. (2019). Top 5 social media predictions for 2019. https://www.emarsys.com/resources/blog/top-5-social-media-predictions-2019/?utm_campaign=Marketing%20Blog%20Weekly%20Email%20Sends&utm_source=hs_email&utm_medium=email&utm_content=79803030

Globalwebindex. (2018). GlobalWEbIndex’s flagship report on the latest trends in social media. https://www.globalwebindex.com/hubfs/Downloads/Social-H2-2018-report.pdf?utm_campaign=Marketing%20Blog%20Weekly%20Email%20Sends&utm_source=hs_email&utm_medium=email&utm_content=79803030

Harris, M. (2010). Artificial Intelligence (pp. 4–12). Benchmark Books.

Hoanca, B., & Forrest, E. (2015). Artificial intelligence: marketing’s game changer. IGI Global. https://doi.org/10.4018/978-1-4666-8459-1.ch003

Hubspot. (2019). 9 AI tools to streamline your social media strategy. https://blog.hubspot.com/marketing/ai-social-media-tools?utm_campaign=Marketing%20Blog%20Weekly%20Email%20Sends&utm_source=hs_email&utm_medium=email&utm_content=79803030

Ikka, T. (2018). The impact of artificial intelligence on learning, teaching, and education. JRS science and policy report. European Commission. https://publications.jrc.ec.europa.eu/repository/bitstream/JRC113226/jrc113226_jrcb4_the_impact_of_artificial_intelligence_on_learning_final_2.pdf

Jablonska, M. R., & Polkowski, Z. (2019). Artificial intelligence-based processes in SMES. In Studies & Proceedings of Polish Association for Knowledge Management, (86).

Jarek, K., & Mazurek, G. (2019). Marketing and artificial intelligence. Central European Business Review, 8(2), 46–55. https://doi.org/10.18267/j.cebr.213

Johnson, D., Muzellec, L., Sihi, D., & Zahay, D. (2019). The marketing organization’s journey to become data-driven. Journal of Research in Interactive Marketing, 13(2). https://doi.org/10.1108/JRIM-12-2018-0157

Kokina, J., & Davenport, T. (2017). The emergence of artificial intelligence: how automation is changing auditing. Journal of Emerging Technologies in Accounting, 14(1), 115–122. https://doi.org/10.2308/jeta-51730

Kumar, V., Rajan, B., Venkatesan, R., & Lecinskj, J. (2019). Understanding the role of artificial intelligence in personalized engagement marketing. California Management Review, 61(4), 135–155. https://doi.org/10.1177/0008125619859317

Lapuschkin, S., Wäldchen, S., Binder, A., Montavon, G., Samek, W., & Müller, K.-R. (2019). Unmasking clever hans predictors and assessing what machines really learn. Nature Communications, 10. https://doi.org/10.1038/s41467-019-08987-4

Lieto, A., Bhatt, M., Oltramari, A., & Vernon, D. (2017). The role of cognitive architectures in general artificial intelligence. Cognitive Systems Research, 48, 1–3. https://doi.org/10.1016/j.cogsys.2017.08.003

Marketing Artificial Intelligence Institute. (2019). Build your competitive advantage with artificial intelligence. https://www.marketingaiinstitute.com/?utm_campaign=Marketing%20Blog%20Weekly%20Email%20Sends&utm_source=hs_email&utm_medium=email&utm_content=79803030

Martínez-López, F., & Casillas, J. (2013). Artificial intelligence-based systems applied in industrial marketing: An historical overview, current and future insights. Industrial Marketing Management, 42(4), 489–495. https://doi.org/10.1016/j.indmarman.2013.03.001

Marr, B. (2018). The key definitions of artificial intelligence (AI) that explain its importance. https://www.forbes.com/sites/bernardmarr/2018/02/14/the-key-definitions-of-artificialintelligence-ai-thatexplain-its-importance/#2e9da44d4f5d

Mazurek, G. (2014). Network value creation through marketing, management & business administration. Central Europe, 22(4), 70–77. https://doi.org/10.7206/mba.ce.2084-3356.120

Murgai, A. (2018). Role of artificial intelligence in transforming human resources management. International Journal of Trend in Scientific Research and Development, 2(3). https://doi.org/10.31142/ijtsrd11127

Perry, J. S. (2017). What is big data? More than volume, velocity and variety. https://developer.ibm.com/dwblog/2017/what-is-bigdata-insight/

Roetzer, P. (2017). The 5P’s of marketing artificial intelligence. Marketing artificial intelligence institute blog. https://www.marketingaiinstitute.com/blog/the5ps-of-marketing-artificial-intelligence?__hstc=96041603.f6a6d6b1bf0af98d2cc794545b23b8ed.1501510789624.1511266825703.1511696900272.9&__hssc=96041603.1.1511696900272&__hsfp=928892310

Single Grain. (2019). 20 AI tools to scale your marketing and improve productivity. https://www.singlegrain.com/artificial-intelligence/20-ai-tools-to-scale-your-marketing-and-improve-productivity/

Sterne, J. (2017). Artificial intelligence for marketing: practical applications. John Wiley & Sons, Inc. https://doi.org/10.1002/9781119406341

Tarafdar, M., Beath, C., & Ross, J. (2019). Using AI to enhance business operations. MIT Sloan Management Review. https://sloanreview.mit.edu/article/using-ai-toenhance-business-operations

Tong, S., Luo, X., & Xu, B. (2020). Personalized mobile marketing strategies. Journal of the Academy of Marketing Science, 48(1), 64–78. https://link.springer.com/article/10.1007/s11747-019-00693-3

Tractica. (2016). Technology research that connects the dots. https://www.tractica.com/newsroom/press-releases/artificial-intelligence-is-gaining-increasing-traction-in-the-manufacturing-sector-with-annual-spending-on-ai-software-hardware-and-services-to-reach-13-2-billion-by-2025/

Wierenga, B. (2010). Marketing and artificial intelligence: Great opportunities, reluctant partners. In Marketing intelligent systems using soft computing (pp. 1–8). Springer. https://doi.org/10.1007/978-3-642-15606-9_1

Wirth, N. (2018). Hello marketing, what can artificial intelligence help you with? International Journal of Market Research, 60(5), 435–438. https://doi.org/10.1177/1470785318776841