Artificial intelligence in marketing and marketing research

2021 ◽  
pp. 147-163
Author(s):  
Merlin Stone ◽  
Luiz Moutinho ◽  
Yuksel Ekinci ◽  
Ashraf Labib ◽  
Geraint Evans ◽  
...  
Keyword(s):  
Artificial Intelligence ◽  
Marketing Research

scholarly journals MODERN DIGITAL MARKETING TRENDS AND THEIR INFLUENCE ON THE MARKETING STRATEGY FORMATION

2021 ◽  
Vol 1 (54) ◽  
Author(s):  
Valentyn H. Hnoievyi ◽  
◽  
Oleksandr M. Koren ◽  
Keyword(s):  
Artificial Intelligence ◽  
Marketing Strategy ◽  
Interpersonal Communication ◽  
New Technologies ◽  
Digital Communication ◽  
Marketing Research ◽  
Marketing Strategies ◽  
Digital Marketing ◽  
Customer Engagement ◽  
Digital Platforms

The article has dealt with the current trends of communication aspects of company’s relations with the customers. The emphasis is placed on the necessity to review the companies’ marketing strategies, in particular, due to communication constraints and the corresponding changes in the format of both direct and feedback with the customers. Restrictive measures have changed the format of competition, having created the conditions for its concentration in cyberspace. Changes in the nature of interpersonal communication predetermined by the limited personal activity and the introduction of remote forms of interaction, have generated demand for innovative ways of communication with customers. Other factors that require the adjustment of marketing strategies include the emergence of new behavioral capabilities of consumers associated with the intensive development of digital communication channels. It has been noted that in the digital communication environment, digital platforms provide the main format of communication with the existing customer base and potential customers. In addition, prompt acquisition and processing of data on purchasing behavior of customers allows companies to increase significantly the “sensitivity” of marketing research and optimize their own marketing decisions. Among the areas of increasing targeting and personalization of product offerings, the use of elements of artificial intelligence and voice search has been accentuated. Moreover, the use of artificial intelligence greatly facilitates and simplifies the work of marketers on the processing and initial analysis of the growing flow of digital marketing data, as well as provides greater efficiency. It has been concluded that widespread use of voice assistants in e-commerce requires companies to rethink radically their approaches to internal data processing, IT investment and customer engagement strategies. Active integration of chatbots into various communication platforms is able to make them universal tools for both business and consumers, which will allow them to become a familiar part of the user experience. Implementation of virtual reality and augmented reality elements in the interface of company websites can significantly diversify the process of collecting information by users and push them to unplanned purchases. It has been indicated that the growing standards of personalization and new rules of customer confidentiality will continue to require companies to be flexible and introduce new technologies in order to adapt permanently their business to new conditions. Focusing on building trust with customers based on digital communications will enable companies to create a long-term integrated marketing strategy and concentrate on the multi-channel nature of customer experience.

scholarly journals Modern technologies of marketing research and market analysis

2021 ◽  
Vol 2021 (2) ◽  
pp. 29-39
Author(s):  
Oleh Duma ◽  
◽  
M. Melnyk ◽  
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Big Data ◽  
Human Life ◽  
Marketing Research ◽  
Research Process ◽  
Target Market ◽  
Advantages And Disadvantages ◽  
Marketing Activities ◽  
Modern Technologies

Nowadays, marketing research is increasingly important for the success of enterprises. Conducting marketing research reduces the risk of making wrong decisions in the analysis and development of marketing strategies, planning and control of marketing activities. The article provides an overview of the emergence of marketing research, explores the latest methods of marketing research, their advantages and disadvantages, the possibility of its application at different stages of marketing activities. Scientific approaches to the interpretation of the concepts "marketing research", "methods of marketing research" are systematized. The latest methods of marketing research that widely use AI, Big Data, ML, TRI * M, have been studied. The technologies of mobile advertising, areas of use of artificial intelligence, the essence and features of the formation of Big Data and machine learning were researched in the article. The benefits of using artificial intelligence, big data and machine learning to conduct marketing research were researched in the article. Analytical materials are confirmed by cases from the practice of marketing research. All research outcomes were proved by cases of Independent Media, TNS Ukraine, British Council, Chat fuel and Coca - Cola. The scheme of the marketing research process is supplemented by the possibilities of applying the latest technologies, which are grouped by stages. Any marketing research is a sequence of steps. Each of them uses a set of tools that provide collection, processing and analysis of data about the target market, customers, or economic processes. Each of these stages can be implemented using the modern technologies that are widely used in various spheres of human life. The directions of application the artificial intelligence, Big data, machine learning for carrying out office researches, field researches, pilot researches and a method of focus groups are offered. The analysis of realization of methods of marketing researches on the basis of Big Data, AI, ML is carried out.

A Strategic Marketing Intelligence Platform

2020 ◽  
pp. 12-30
Author(s):  
Mark Poema Lida
Keyword(s):  
Artificial Intelligence ◽  
Marketing Research ◽  
Research Strategy ◽  
Market Analysis ◽  
Strategic Marketing ◽  
Processing Data ◽  
Marketing Planning ◽  
Marketing Intelligence ◽  
Research Stage ◽  
Action Stage

The authors develop a three-stage framework for strategic marketing planning, incorporating multiple artificial intelligence (AI) benefits: mechanical AI for automating repetitive marketing functions and activities, thinking AI for processing data to arrive at decisions, and feeling AI for analyzing interactions and human emotions. This framework lays out the ways that AI can be used for marketing research, strategy (segmentation, targeting, and positioning, STP), and actions. At the marketing research stage, mechanical AI can be used for data collection, thinking AI for market analysis, and feeling AI for customer understanding. At the marketing strategy (STP) stage, mechanical AI can be used for segmentation (segment recognition), thinking AI for targeting (segment recommendation), and feeling AI for positioning (segment resonance). At the marketing action stage, mechanical AI can be used for standardization, thinking AI for personalization, and feeling AI for relationalization. We apply this framework to various areas of marketing, organized by marketing 4Ps/4Cs, to illustrate the strategic use of AI.

scholarly journals Making sense of text: artificial intelligence-enabled content analysis

2020 ◽  
Vol 54 (3) ◽  
pp. 615-644 ◽  
Author(s):  
Linda W. Lee ◽  
Amir Dabirian ◽  
Ian P. McCarthy ◽  
Jan Kietzmann
Keyword(s):  
Artificial Intelligence ◽  
Content Analysis ◽  
High Reliability ◽  
Marketing Research ◽  
Content Type ◽  
Performance Factors ◽  
Advantages And Disadvantages ◽  
Road Map ◽  
Computer Aided ◽  
Ibm Watson

Purpose The purpose of this paper is to introduce, apply and compare how artificial intelligence (AI), and specifically the IBM Watson system, can be used for content analysis in marketing research relative to manual and computer-aided (non-AI) approaches to content analysis. Design/methodology/approach To illustrate the use of AI-enabled content analysis, this paper examines the text of leadership speeches, content related to organizational brand. The process and results of using AI are compared to manual and computer-aided approaches by using three performance factors for content analysis: reliability, validity and efficiency. Findings Relative to manual and computer-aided approaches, AI-enabled content analysis provides clear advantages with high reliability, high validity and moderate efficiency. Research limitations/implications This paper offers three contributions. First, it highlights the continued importance of the content analysis research method, particularly with the explosive growth of natural language-based user-generated content. Second, it provides a road map of how to use AI-enabled content analysis. Third, it applies and compares AI-enabled content analysis to manual and computer-aided, using leadership speeches. Practical implications For each of the three approaches, nine steps are outlined and described to allow for replicability of this study. The advantages and disadvantages of using AI for content analysis are discussed. Together these are intended to motivate and guide researchers to apply and develop AI-enabled content analysis for research in marketing and other disciplines. Originality/value To the best of the authors’ knowledge, this paper is among the first to introduce, apply and compare how AI can be used for content analysis.

scholarly journals The Potential of The Big Data Implementation, in Serbia, in the context of Marketing Research

2018 ◽  
Vol 23 (2) ◽  
pp. 39
Author(s):  
Ana Miodrag Zekavica ◽  
Aleksandar Djordjevic ◽  
Aleksandra Vukmirovic ◽  
Jovanka Vukmirovic ◽  
Milica Brankovic
Keyword(s):  
Artificial Intelligence ◽  
Big Data ◽  
Online Survey ◽  
New Technologies ◽  
Research Question ◽  
Marketing Research ◽  
Business Environment ◽  
Global Market ◽  
Business Decision ◽  
Business Entities

Research question: Big Data represents a true business revolution in many areas, and, as such, in marketing research, as well. The subject of this study is the analysis of the existing stage, as well as of the achieved results in the implementation of the Big Data Technology in Serbia. Motivation: The success in managing the company depends on the ability to provide quality and comprehensive information by establishing personalized (1:1) communication with consumers on the global market in real or near real-time. This form of communication has become an imperative of the modern business decision-making process. Advanced Internet technologies, Cloud Computing (Cloud Technology), Big Data and Artificial Intelligence open a significant business potential for companies in Serbia to emerge on global markets. Idea: of this study is to perceive current business environment in Serbia through the prism of research development based on the Big Data technologies. Relevant hypotheses and conducted research have been set up with the aim of pointing to the potential of applying modern information-communication technologies, with an emphasis on artificial intelligence and the Big Data concept. Data: The survey was conducted on 154 business entities from the Serbian Business Register Agency’s database. The applied sampling method was a random analysis (selection was made randomly from the total number of selected companies, with the same probability of choice). Tools: An online survey was used, and respondents were contacted via e-mail. Findings: Research results, opinions and attitudes of managers, experts in the fields of marketing research and information technology, indicate a significant degree of justifiability of investments in new technologies in the Republic of Serbia and result in several proposals of certain measures and recommendations of incentives that should be conducted by the State. Contribution: The solutions in this paper are based upon the implementation of standardized procedures and advanced tools that could be used to overcome a "bottleneck" in the existing IT infrastructure, in order to enable a rapid collection and implementation of enabled data.

scholarly journals A strategic framework for artificial intelligence in marketing

2020 ◽  
Vol 49 (1) ◽  
pp. 30-50
Author(s):  
Ming-Hui Huang ◽  
Roland T. Rust
Keyword(s):  
Artificial Intelligence ◽  
Data Collection ◽  
Marketing Research ◽  
Research Strategy ◽  
Market Analysis ◽  
Strategic Marketing ◽  
Processing Data ◽  
Marketing Planning ◽  
Research Stage ◽  
Action Stage

AbstractThe authors develop a three-stage framework for strategic marketing planning, incorporating multiple artificial intelligence (AI) benefits: mechanical AI for automating repetitive marketing functions and activities, thinking AI for processing data to arrive at decisions, and feeling AI for analyzing interactions and human emotions. This framework lays out the ways that AI can be used for marketing research, strategy (segmentation, targeting, and positioning, STP), and actions. At the marketing research stage, mechanical AI can be used for data collection, thinking AI for market analysis, and feeling AI for customer understanding. At the marketing strategy (STP) stage, mechanical AI can be used for segmentation (segment recognition), thinking AI for targeting (segment recommendation), and feeling AI for positioning (segment resonance). At the marketing action stage, mechanical AI can be used for standardization, thinking AI for personalization, and feeling AI for relationalization. We apply this framework to various areas of marketing, organized by marketing 4Ps/4Cs, to illustrate the strategic use of AI.

scholarly journals Knowledge management: using information technology to obtain knowledge in a competitive environment

2009 ◽  
Vol 7 (1) ◽  
pp. 232-243
Author(s):  
Marly Cavalcanti
Keyword(s):  
Artificial Intelligence ◽  
Information System ◽  
Knowledge Management ◽  
Information Systems ◽  
Practical Knowledge ◽  
Marketing Research ◽  
Business Administration ◽  
Competitive Environment ◽  
Exploratory Research ◽  
Level Of Knowledge

The purpose of this article is to emphasize the importance of corporate governance, information systems and their theoretical and practical knowledge in the upcoming years. It does not only offer an analysis of the use of information and knowledge in universities, but also explains its main significance. Another objective is to join some specific fields such as artificial intelligence, information systems, marketing, marketing research and knowledge management so that sharing, distribution and creation can be transmitted to the undergraduate student of business administration as well. In order to write this paper, the available bibliography was reviewed and a quantitative exploratory research was conducted in some universities in São Paulo, Brazil. The study showed that students of the undergraduate courses in Business Administration had low level of knowledge in Information System and Marketing Research while they are in the school and this fact permit analytical vision of risks in the treatment of governance.

Artificial Intelligence

2015 ◽  
pp. 45-64 ◽  
Author(s):  
Edward Forrest ◽  
Bogdan Hoanca
Keyword(s):  
Artificial Intelligence ◽  
Marketing Research ◽  
Primary Role ◽  
Corporate Marketing ◽  
The Many

This chapter reviews the many new tools the advent of AI agents has placed into the hands of marketers and consumers alike. AI agents are redefining the roles and rules of the marketing game. While once marketing was the interaction between marketing professionals and customers, AI agents are taking key roles on both sides. The chapter shows how Artificial Intelligence Marketing Agents have begun to proffer the marketer unprecedented marketing research and communication capabilities. However, at the same time AI applications are empowering the consumer to bypass or question the corporate marketing message. Virtual Personal Shopping Assistants (VPSAs) can learn consumers' tastes, predict their needs, and optimize their product purchases. VPSAs are able to instantly match a consumer's need against all accessible products that meet the consumer's expectations and price points. The chapter concludes with recommendations for marketers to recognize the primary role that the consumer's VPSA will play in the marketing game and adjust their marketing efforts accordingly.

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