Generating marketing outcomes through internet of things (IoT) technologies

Abstract

This paper highlights the effectiveness of data stored from the operational use of Internet of Things (IoT) technologies for generating marketing-related outcomes, such as business intelligence for product development, product support, and customer relationship management (CRM), by exploring this research domain under the lens of the well-established means–ends theory. This study conducted a multidisciplinary literature review to develop the conceptual framework. Moreover, a smart refrigerator was chosen as an example to demonstrate how the analysis of data stored from the operational use of IoT devices can help generate marketing outcomes such as new product development, customer support, and CRM. The study articulates that IoT technology helps in furthering the objectives of CRM along with other strategies of business growth and success. Using a practical example backed by a sound theoretical framework, this study will not only help practitioners to empirically test this significant yet under-explored topic but will also help elucidate that, by embedding IoT devices in their products, business managers can ensure business longevity. Furthermore, it explains how the IoT can provide support to improve communication ties between the product manufacturer and consumer through product support and CRM strategies.