REVOLUTIONIZING CONSUMER ENGAGEMENT THE INTERSECTION OF DIGITAL MARKETING AND MARKETING 5.0
DOI:
https://doi.org/10.29121/shodhkosh.v5.i6.2024.5606Keywords:
Digital Marketing, Marketing 5.0, Artificial Intelligence, Consumer Engagement, Personalization ChallengesAbstract [English]
As digital marketing has been constantly evolving, a new phase known as Marketing 5.0 has appeared with human-mimicking technologies, including AI, VR, and AR. Marketing 5.0 increases the trust of the consumer by improving emotional involvement, which, as businesses deliver a personalized seamless experience to their consumers, proves a challenge to adapt and apply the technology in different digital channels. This study investigates the impact of AI, VR, and AR on consumer engagement and identifies challenges businesses face while personalizing through the Marketing 5.0 era.
A quantitative research approach was adopted and data was collected using a structured questionnaire from 400 respondents in Pune city. Regression analysis and ANOVA tests were performed using SPSS to analyze the relationship between technology adoption, consumer trust, and engagement while assessing the challenges businesses face in digital personalization. The findings are that AI, VR, and AR significantly enhance consumer engagement and support the alternative hypothesis. Businesses also face the challenge of maintaining consistent, omnichannel experiences, which further underlines the complexity of integrating personalized marketing strategies across multiple platforms.
This study concludes that, despite the human-mimicking technology's effectiveness in stimulating consumer engagement, businesses have to invest in AI-driven automation, data integration, and ethical AI to counterbalance the implementation barriers. The recommendations include the optimization of digital marketing strategies, improvement in the omnichannel experience, and adherence to data privacy and transparency to create trust and long-term relationships between a company and its consumers. Other future researches can be done by comparing cross-industry sectors, the long-term impact of AI marketing, and ethical data-driven personalization.
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