Marketing and Artificial Intelligence: Great opportunities, Reluctant Partners

Abstract

Marketing managers make decisions about products, brands, advertising, promotions, price, and distribution channels, based on deep knowledge about customers. The outcomes of marketing decisions are dependent on the behavior of other actors such as competitors, suppliers and resellers. Furthermore, uncertain factors such as the overall economy, the state of the financial sector and (international) political developments play an important role. Marketing decision making not only refers to tactical marketing mix instruments (the well-known 4Ps), but also to strategic issues, such as product development and innovation and long term decisions with respect to positioning, segmentation, expansion, and growth. © 2010 Springer-Verlag Berlin Heidelberg.