The application of IoT technologies to collect, transmit, and transform data into knowledge. The marketing and sales sectors are capable of using data gathered through IoT to interact with customers on an individual basis.
Published in Chapter:
Smart Marketing: A Multi-Stakeholder Review of Implications for Sustainable Business Practice
Copyright: © 2024
|Pages: 24
DOI: 10.4018/979-8-3693-1339-8.ch010
Abstract
Smart marketing is a term that encompasses various forms of marketing that leverage artificial intelligence (AI) and the internet of things (IoT) to deliver personalized, relevant, and engaging experiences to customers. This research aims to provide a comprehensive literature review on smart marketing, covering its definitions, applications, advantages, disadvantages, and implications on sustainability. The chapter also discusses the benefits and challenges of smart marketing for both marketers and customers, such as improved efficiency, effectiveness, creativity, customer satisfaction, loyalty, and retention, as well as ethical, privacy, security, and social issues. Furthermore, the chapter examines the impact of smart marketing on sustainability, highlighting the potential opportunities and risks for environmental, social, and economic dimensions. The chapter concludes with some suggestions for future research directions and best practices for smart marketing.