Interactive Marketing: Present and Future
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In the recent past, major innovations in information technology in the form of increased computer power, the Internet, improved software, mobile devices, and other product innovations, have had a major impact on marketing. In this paper I discuss the impact of these innovations in the following areas: big data, online search and advertising, mobile devices, online reviews and user generated content, social media, institutions, and secondary effects of the changes in technology. I summarize what is known about these areas, and also outline areas in need of further research. Trends indicate a need for people who can make raw data useful, a danger that marketing will lose control of the analysis of marketing data, an increase in competition driven by better information available to companies and consumers, and emergence of new institutions that result from the increasing ability of phone, computer, TV and other devices to perform the same functions.
Abstract
In the recent past, major innovations in information technology in the form of increased computer power, the Internet, improved software, mobile devices, and other product innovations, have had a major impact on marketing. In this paper I discuss the impact of these innovations in the following areas: big data, online search and advertising, mobile devices, online reviews and user generated content, social media, institutions, and secondary effects of the changes in technology. I summarize what is known about these areas, and also outline areas in need of further research. Trends indicate a need for people who can make raw data useful, a danger that marketing will lose control of the analysis of marketing data, an increase in competition driven by better information available to companies and consumers, and emergence of new institutions that result from the increasing ability of phone, computer, TV and other devices to perform the same functions.
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