Marketing 4.0: A Perfect Blend of Style and S...

Marketing 4.0: A Perfect Blend of Style and Substance

Author Name : Sheetal M. Darekar, Shilpa Wanjari, Chirag Chaturvedi

ABSTRACT

Marketing 4.0 is a new approach where the customers have an offline interaction with the companies. Digital technology has changed the lives of most modern businesses and humans alike. With the advent of technologies like IoT, mobile internet, cloud tech, etc. Marketing has moved from the conformist product-centric approaches to the human-centric era where humans via the 24*7 mobile internets are constantly in touch even offline with the brands they support. The new mantra of –"Marketing 4.0 blending style and substance" has exemplified the new role of consumers, who want to be a part of the marketing experience and be associated with the brands they promote. The companies also support the consumers' needs by customizing services and prices. This review acknowledges that digital innovation has made its impact on large corporate firms and SMEs alike, but the downside is implementing the rubrics of Marketing 4.0 especially issues such as cost of implementation; general reluctance towards digital marketing transformation; poor infrastructure in developing countries, etc. Therefore marketing strategy must involve consumers, company employees, and shareholders as stakeholders in this whole process.

Keywords: Marketing 4.0; Digital Marketing