Marketing models and strategies in the light of digital transformation and artificial intelligence: Theoretical framework

Abstract

New technologies have revolutionized almost every aspect of human existence, including the way companies market their products and services to consumers. Alongside now-familiar innovations such as the Internet, greater computing power, mobile devices and applications, and social media, more radical innovations are emerging related to artificial intelligence (AI), the Internet of Things, and robotics. These technological advances exert profound effects on the practice of marketing, which is increasingly affected by its instruments, creating opportunities and threats for marketers. Much of the literature has focused on effects external to the firm such as the impact of digitalization or artificial intelligence on market structure or new business paradigms. However, the research reported here highlights how new technologies act as internal agents of change, forcing companies to adapt to new processes, which in turn disrupt the functioning of the entities making up the organization. In this article, we propose a theoretical framework on the status of marketing in light of digital transformation and artificial intelligence. The main conclusions drawn from this research indicate that digital transformation and artificial intelligence have had a significant impact on the marketing function, by changing consumer behaviours and providing the ability to personalize their demands. Similarly, the advent of these technologies has led to an increase in competition, pushing companies to improve their operational efficiency and consequently their offer on the market.

Keywords: Marketing, Digital transformation, Artificial intelligence, Marketing strategy, Automation.

JEL Classification: M30, O32

Paper type: Theoretical Research