Role of artificial intelligence in marketing strategies and performance

This study examines the role of artificial intelligence (AI) as a marketing strategy and explains its contribution to firms and the factors influencing their development. The study tests an empirical model based on the research variables and constructs identified using structural equation modeling a...

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Bibliographic Details
Published in:Psychology & marketing 2023-03, Vol.40 (3), p.484-496
Main Authors: Wu, Chih‐Wen, Monfort, Abel
Format: Article
Language:English
Subjects:
AI marketing strategy
Artificial intelligence
artificial intelligence (AI)
FsQCA
market orientation
Market strategy
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Summary:This study examines the role of artificial intelligence (AI) as a marketing strategy and explains its contribution to firms and the factors influencing their development. The study tests an empirical model based on the research variables and constructs identified using structural equation modeling and the fuzzy set qualitative comparative analysis (FsQCA) approach. Data were collected from 278 food firms. The findings indicate that the implementation of an AI marketing strategy affects performance. Additionally, this study shows that marketing capabilities, customer value co‐creation, and market orientation are positively related to performance. Finally, the results highlight that marketing capabilities, customer value co‐creation, and market orientation affect the development of AI marketing strategies. The research results of FsQCA find that causal conditions of marketing capabilities, customer value co‐creation, market orientation, and AI marketing strategy are necessary and sufficient recipes for higher firm performance.
ISSN:0742-6046
1520-6793
DOI:10.1002/mar.21737