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Several Dimensions of Innovation, Technology and Industry 4.0

Edited By Fatih Ayhan

With the development of the industry, both social lives and economies have been significantly affected. Together with the Industry 4.0 revolution, significant changes have occurred in both the social life and the production process. As a result, different sectors are affected by this change. With this book, successful researches have been carried out by expert academics in a wide range of fields from finance to marketing and tourism to foreign trade, etc.

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2.1 Industry 4.0 and Marketing

Extract

Emel Faiz

2.1   Industry 4.0 and Marketing

Abstract: The rapid and comprehensive development of technology has led to a radical change in our industry, production, and business processes and this change is still ongoing. Moving from manual labor to the use of machinery and steam, human history was introduced the concept of the first industrial revolution. With machinery leaving its place to the mass production, we were introduced to the second industrial revolution; with electronics and IT systems first meeting production and later the business world, we were introduced to the third industrial revolution. Today, we are talking about the fourth industrial revolution and designing the fifth industrial revolution. With the fourth industrial revolution, we began to see technologies such as the internet of things, big data, cloud computing, artificial intelligence, etc.in business life. These technologies help the development of new sectors and new business branches in the economy. Businesses are beginning to re-create all their functions with these technologies. With regards to this, marketing departments are undergoing a digital transformation as well, and are discussing Marketing 4.0. The main objective of this section is to explain how the technologies that come with Industry 4.0, which is a process where the digital interacts with the physical elements, affect marketing and how they are transformed into applications in marketing.

Keywords: Industry 4.0, Marketing 4.0, Big Data, Internet of Things, Digital Process

JEL Codes: M10, M30, M31

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