Marketing innovations in Industry 4.0 and their impacts on current enterprises

Abstract

This paper discussed the marketing innovations associated with Industry 4.0 and the effects that these innovative approaches cause. The main aim of the research was to discover the relationship between marketing innovations and their effects. Knowledge of this relationship can be used for the strategic planning of industrial companies in practice. The research methodology consisted of pilot research followed by primary research in industrial enterprises. The data were evaluated by descriptive statistics, statistical hypothesis, and correlation analysis. Through the research, the authors identified the importance of 17 innovative marketing tools and the strength of the use of 11 effects resulting from the implementation of these tools. The authors identified the relationships between tools and their implications in Industry 4.0 where a correlation was demonstrated. A list of 11 strategic objectives was created and, subsequently, a specific marketing mix proposal for each objective consisting of innovative marketing tools was as well. The results of this work enable enterprises involved in Industry 4.0 to better plan.