Journal of Strategic Research in Social Science (JoSReSS) - ISSN: 2459-0029

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Abstract


Marketing 5.0: Internet of Things Marketing

After the stages of Marketing 1.0 (product-centric), Marketing 2.0 (consumer-centric), Marketing 3.0 (human-centric) and Marketing 4.0 (digital marketing) in its history of development, the marketing is now on the verge of a new age: Marketing 5.0. In other words, “Marketing of Internet of Things”. The Internet of Things (IoT) refers to a network platform where things can connect with each other and digital media through Internet-based technologies. It is projected to make all things smart and connect them with each other and people by means of systems such as RFID, NFC, sensor and biochip, where the Internet of Things, the technology of near future, is used. Thus, tens of things such as smart homes, roads, fields, cities and smart production and marketing processes will surround the lives of future. Components that are a manifestation of IoT, such as 3D printer and smart robot, facilitate democratization of production processes. The purpose of this study is to establish what kind of changes the Internet of Things will cause in terms of marketing activities. In this context, comprehensive analyses of IoT-based studies that were conducted before with regard to marketing activities were made and such changes were identified accordingly. In this sense, Marketing 5.0 will ensure the inclusion of customer in the marketing process with the democratization of production. Also, extraordinary speed of Internet, effective use of big data by companies and tens of interconnected things and platforms will make it possible to personalize marketing and make it in real-time for the consumers. Moreover, the cost of access to information and energy has considerably decreased with the information and communication technologies. Furthermore, Marketing 5.0 facilitates conducting more effective marketing studies with immediate/detailed data coming from smart things.



Keywords
Marketing 5.0, Internet of Things, IoT, Digital Marketing



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