Internet of Things as a source of future marketing tools

Celik, F. (2016) Internet of Things as a source of future marketing tools.

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Abstract:The rapidly evolving development of Internet of Things and its devices create new opportunities and circumstances that can be monitored and applied for more efficient Marketing. Since marketing units suffer from a lack of knowledge about individual customer and the timeliness of the knowledge Internet of Things is anticipated as a potential tool to overcome the knowledge gap. For this purpose and due to the nature of Internet of Things strategic issues of companies as whole package of all units and partnerships are taken into consideration. Therefore the utilization of Internet of Things is regarded as additional value for Marketing. The main issues are the circumstances of different future developments that illustrate the most relevant aspects of Internet of Things that needs to be considered by the company to grasp the chance of being an early innovator. After a proper comparison of the scientific literature and the case studies those main issues that need to be taken into account to utilize IoT for Marketing are Strategy alignment, R&D in cross functional groups & close partnerships and coping security issues sufficiently.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:83 economics, 85 business administration, organizational science
Programme:International Business Administration BSc (50952)
Link to this item:http://purl.utwente.nl/essays/70097
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