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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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2.2 Industry 4.0, Marketing and Value Triplication

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2.2   Industry 4.0, Marketing and Value Triplication

Abstract: When we talk about the subject of Industry 4.0, many concepts are discussed in the academic studies and each concept is handled separately. However, in order to understand Industry 4.0 and benefit from its potential, much more is needed than concept definition. External stakeholders (managers, marketers, engineers, machine operators, mechanics, etc.) who read the academic work that explains what this new concept is should be able to easily comprehend the practical implications of this concept. However, it is seen that the sources referring to Industry 4.0 have repeated the same things in different ways and the concept of Industry 4.0, which is a very wide term, has been interpreted by different authors in different contexts. For this reason, it is seen that the concept is not fully understood by the masses. While discussing Industry 4.0 in this study, the concepts of “value chain”, “value change”, “value-added services”, “valuable information/information sharing”, “new generation consumers”, “mass personalization” are emphasized, and Industry 4.0 is evaluated from a marketing perspective. Taking more shares from the consumer market is possible by turning incomprehensible technological concepts into understandable consumer solutions. In this respect, this chapter takes Industry 4.0 and the relevant concepts and looks at the relationship between Industry 4.0 and Marketing and Value, and the customer aspect of this relationship is emphasized. How the new technologies will transform marketing practices, and how the market area...

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