Application of Artificial Intelligence in Marketing Mix: A Conceptual Review

Abstract

Integration of technology into the business context is one of the centuries old marvel, where the difference is defined in terms of innovations and processes improvements. In recent years, Artificial Intelligence (AI) has turned out to be an emerging trend in diverse fields: business, education, science, medicine and automotive. AI has also been integrated into marketing and such integrations have become a fast-growing trend which guarantees the competitive advantage in the business context. In order to execute AI in marketing strategy, companies have redefined their marketing mix with AI. Empirical studies are found explaining how AI leverage the marketing mix with the presence of extensive data by encouraging business intelligence decision making related to future business processes, consumer behavior, and market trends which leads to promote decision making, which creates businesses a competitive edge over its rivals. Alongside, this paper attempts to appreciate the application of AI, embedded technologies and automation in aiding the 4Ps of marketing. The literature review was carried out addressing the key sub insights associated with marketing and AI. Journal articles have been reviewed as the main source of information to structure the contents with empirical justifications. Lastly, the paper deliberates how embracement of AI, results in designing marketing mix and the author attempts to explain the future potential implications of AI with regard to the 4Ps.