Developing artificial intelligence enabled Marketing 4.0 framework: an Industry 4.0 perspective

• Published in: Qualitative market research 2024-10, Vol.27 (5), p.841-865
• Main Authors: Mukhopadhyay, Shameek, Singh, Rohit Kumar, Jain, Tinu
• Format: Article
• Language: English
• Subjects: Artificial intelligence; Automation; Brand loyalty; Competitive advantage; Consumer behavior; Consumer goods; Consumers; Decision making; Digital marketing; Industry 4.0; Market strategy; Social networks; Strategic management; Technology
• ISSN: 1352-2752; 1352-2752; 1758-7646
• DOI: 10.1108/QMR-06-2023-0086

Purpose The paper aims to analyze the potential of artificial intelligence (AI) in enhancing marketing capabilities for Indian fast-moving consumer goods (FMCG) firms, with appropriate emphasis on dynamic capabilities (DC). By integrating AI into their operations, companies can enhance diverse marketing practices, leading to improved efficiency and effectiveness. In addition, the study offers valuable insights and guidance for effectively implementing AI in marketing strategies. Design/methodology/approach In-depth interviews of 26 seasoned professionals from various positions in the Indian FMCG sector were conducted for the study. A systematic approach of coding that includes open, axial and selective coding was made to recognize the themes that represent AI-enabled marketing practices. This approach ensured that the themes were precisely identified and comprehensively analyzed. Interviews followed by a rigorous coding process provide valuable insights into the practical implementation of AI-enabled marketing practices for the Indian FMCG industry. Findings The study’s results underscore the importance of AI in enhancing marketing practices for FMCG firms, particularly in four critical areas: personalization, consumer engagement, marketing automation and strategic goals. By adopting AI in these areas, Indian FMCG firms can significantly enhance their marketing capabilities, increasing efficiency, effectiveness and gaining a competitive advantage. Research limitations/implications The study uses qualitative data analysis to explain how DC through AI technologies can enhance digital marketing practices for Indian FMCG organizations. Furthermore, the study provides valuable insights into how AI technologies can improve marketing capabilities and emphasizes the importance of DC. The study also proposes a framework for AI-enabled Marketing 4.0 that can guide FMCG firms seeking to leverage AI technologies to enhance their marketing practices. Originality/value This study outlines the potential for enhancing marketing practices by adapting AI in the Marketing 4.0 environment for Indian FMCG companies, highlighting the importance of DC in achieving this goal.