Maximizing Marketing Value: An Empirical Study on the Framework for Assessing AI and ML Integration in Marketing Management

Abstract

To address this issue, we conduct an empirical investigation into the application of AI and ML in marketing management using a rich framework that aims to optimize marketing value as much as possible. The framework is structured in four pillars: data gathering and processing, customer insights & segmentation, personalized marketing strategies and performance improvement. The utility and practical implementation of the framework was examined through a mixed-methods study design employing quantitative surveys validated by qualitative interviews. The survey was conducted among marketing practitioners across all industries. We also analyze the extent of AI and ML integration in each component empirically, with qualitative insights providing perspectives on opportunity areas, challenges and best practices. Three of these areas in the framework organizational readiness, resource allocations and skill gaps are highlighted as those with most pronounced differences on AI & ML deployment. To learn more about the dataset, demographics of 38 respondents in sample. The sample has a diversified age distribution and it ranges from 27 to 50 years of age. This demonstrates a significant bit of variation (SD = 7.30) and an average age of around 36-37 years Because there's also diversity when it comes to gender representation, with seven people identifying as "Other", besides the six male and fifteen women. According to the statistics, most people are bachelor’s degree holders although also a lot of masters and doctorate degrees which adds depth into information. Overall, the results provide a glimpse into demographic attributes regarding marketing performance and providing useful information for strategic decision making by doing so on behalf of management in charge with implementing those decisions. Finally, this research provides actual data rather than theory on how AI and ML mechanics are being integrated in the marketing management space. The strategic deployment of AI and ML in this research can significantly improve the efficient utilization of resources, maximize marketing efficiency by displaying key parameters impacting shopping behaviour as possesses with more long standing competitive benefits. When they can lean on hard data, researchers, marketers and decision-makers alike are likely to find a more straightforward path to the tasks that matter most as well as how AI/ML factors into driving real marketing value. The research also underscores the importance of ongoing learning, adapting and aligning strategies to leverage new technology in an ever-evolving field like marketing.