Generating Marketing Outcomes through Internet of Things (IoT) Technologies

Beenish Tariq,Hammad Najam,Heesup Han,Rob Law,Sadaf Taimoor,Waseem Hassan

doi:10.3390/su12229670

Abstract

This paper highlights the effectiveness of data stored from the operational use of Internet of Things (IoT) technologies for generating marketing-related outcomes, such as business intelligence for product development, product support, and customer relationship management (CRM), by exploring this research domain under the lens of the well-established means–ends theory. This study conducted a multidisciplinary literature review to develop the conceptual framework. Moreover, a smart refrigerator was chosen as an example to demonstrate how the analysis of data stored from the operational use of IoT devices can help generate marketing outcomes such as new product development, customer support, and CRM. The study articulates that IoT technology helps in furthering the objectives of CRM along with other strategies of business growth and success. Using a practical example backed by a sound theoretical framework, this study will not only help practitioners to empirically test this significant yet under-explored topic but will also help elucidate that, by embedding IoT devices in their products, business managers can ensure business longevity. Furthermore, it explains how the IoT can provide support to improve communication ties between the product manufacturer and consumer through product support and CRM strategies.

Highlights

The Internet of Things (IoT) is an intelligent innovation that has linked and enabled the smart interaction of discrete constructs to open a plethora of services to entities near and far
Using the means–end approach coupled with the example of an Internet-based smart refrigerator, this study demonstrates the concept of generating marketing outcomes through IoT devices
The presented conceptual model supports the literature that has established the importance of analysis of customer-driven data available through the operational use of IoT products

Summary

Introduction

The Internet of Things (IoT) is an intelligent innovation that has linked and enabled the smart interaction of discrete constructs to open a plethora of services to entities near and far. The radio frequency identification tags used active or passive sources of energy, were supported by batteries or surrounding radio waves, and provided information regarding the location and environment [5]. Based on this idea, it can be concluded that the IoT has the potential to develop better marketing outcomes through new product development, product support, and customer relationship management. According to [6], the IoT has the power to improve the depth of market research They further elaborated that the data taken from Internet-based devices or products can be used to identify the usage patterns and the geolocations of the users. There are certain legislations around the globe to protect consumer data, for example, the Data Protection regulation [9] in the UK, the European Union General Data Protection Regulations [10] in Europe, and the Consumer Protection Act 2005 in Pakistan [11]

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