Is artificial intelligence really influencing the marketing strategies and consumer behaviour?

Is artificial intelligence really influencing the marketing strategies and consumer behaviour? R.S. Latha https://orcid.org/0009-0007-0783-9035 M. Chandran https://orcid.org/0000-0001-8675-9947

Purpose: the main aim of this research is to measure the influence of different components of artificial intelligence and marketing strategies pursued by the consumers. The research is to identify the impact of different components artificial intelligence on consumer behaviour. The sales forecasting method is found with this much successful through the technology and innovations of artificial intelligence in the marketing domain. Design / Methodology: the comprehensive framework for evaluating the quality of website design was subsequently accompanied by the collection of data through a web-based survey. The researcher is able to obtain 452 responses which can be used for the main study research and used confirmatory factor analysis and linear multiple regression analysis. Findings: it is found from the study that the artificial intelligence and its generated suggestions in the marketing Arena is found very much useful for both marketers as well as the consumers. As far as the marketers are concerned the artificial intelligence is very much useful for them to exactly measure and also to get a projective figure of their business turnover in volume. The sales forecasting method is found with this much successful through the technology and innovations of artificial intelligence in the marketing domain. Practical Implications: this empirical study paved the way to identify and implement several marketing implications useful for the marketers as well as the consumers in different demographic background. It is suggested that the marketers should get a complete data in the form of profiling the consumers, demographic background and their purchase details and technological knowledge so that they can generate appropriate artificial intelligence solutions to attract the consumers and motivate them to make their next purchase within the short span of time. Originality/Value: the artificial intelligence can also optimize the advertisement campaigns, preserving profile of consumers, quick communication to the consumers, clarity in the marketing approach and to take independent autonomous marketing decisions with respect to consumer behaviour
01 01 2024 896 https://creativecommons.org/licenses/by/4.0 10.56294/sctconf2024896 https://conferencias.ageditor.ar/index.php/sctconf/article/view/874 https://conferencias.ageditor.ar/index.php/sctconf/article/download/874/133 https://conferencias.ageditor.ar/index.php/sctconf/article/download/874/133 https://conferencias.ageditor.ar/index.php/sctconf/article/download/874/134 10.3386/w24690 Agrawal A, Gans JS, Goldfarb A. Prediction machines: The simple economics of artificial intelligence. Harvard Business School Press. 2018 Alpaydin E. Machine learning: the new AI. MIT Press. Cambridge. 2016 Avinaash M, Jayan R. Artificial Intelligence-The marketing game changer. International Journal of Pure and Applied Mathematics 2018, 119(17): 1881-1890 10.1509/jm.15.0419 Batra R, Keller KL. Integrating marketing communications: New findings, new lessons, and new ideas. Journal of marketing. 2016 Nov; 80(6): 122-145 Chaffey, D, Ellis-Chadwick F. Digital marketing. Seventh Edition. Pearson. Harlow. 2019 Court D, Elzinga D, Mulder S, Vetvik OJ. The Consumer Decision Journey. McKinsey Quarterly. 2009 CXPA. Artificial Intelligence (AI) An Introduction: What Every Customer Experience Professional Should Know [White Paper]. 2018. https://www.cxpa.org/HigherLogic/System/ DownloadDocumentFile.ashx?DocumentFileKey=f6cc83e5- 67f9- ec07-450c-e336cf8e1a76 10.1007/978-81-322-2656-7 Dash SS, Bhaskar MA, Panigrahi BK, Das S. Artificial Intelligence and Evolutionary Computations in Engineering Systems Proceedings of ICAIECES 2015. Proceedings of ICAIECES. 2015: 1 Daugherty PR, Wilson H. Human+machine: reimagining work in the age of AI. Boston, Massachusetts: Harvard Business Review Press. 2018 Mar 20 10.1007/s11747-019-00696-0 Davenport T, Guha, A, Grewal, D, Bressgott, T. (2020). How artificial intelligence will change the future of marketing. Journal of the Academy of Marketing Science. 2020; 48(1): Forsyth D, Ponce J. Computer Vision: A Modern Approach. Upper Saddle River, NJ: Prentice-Hall. 2011 Hair JF, Black WC, Babin BJ, Anderson RE. Multivariate data analysis (7th Ed.). Pearson Education Limited. 2014 10.18267/j.cebr.213 Jarek K, Mazurek G. Marketing and artificial intelligence. Central European Business Review. 2019 Apr 1; 8(2): 46-55 10.1016/j.bushor.2018.08.004 Kaplan A, Haenlein M. Siri, Siri, in my hand: Who’s the fairest in the land? On the interpretations, illustrations, and implications of artificial intelligence. Business horizons. 2019 Jan 1; 62(1): 15-25 10.1002/pa.1470 Kietzmann J, Canhoto A. Bittersweet! Understanding and managing electronic word of mouth. Journal of Public Affairs. 2013 May; 13(2): 146-159 10.2501/JAR-2018-035 Kietzmann J, Paschen J, Treen E. Artificial intelligence in advertising: How marketers can leverage artificial intelligence along the consumer journey. Journal of Advertising Research. 2018 Sep 1; 58(3): 263-267 Kotler P. Principles of Marketing. Pearson Education, Seventh European Edition. 2017 Michael CH. Artificial Intelligence. Utah, USA: Benchmark Books. 2010: 4-12 PwC. Sizing the Prize: What’s the Real Value of AI for Your Business and How Can You Capitalise?. London: PwC. 2017 Qazzafi SH. Consumer buying decision process toward products. International Journal of Scientific Research and Engineering Development. 2019 Sep; 2(5): 130-134 10.4324/9781315640914 Sponder M, Khan GF. Digital Analytics for Marketing. Routledge. New York. 2018 10.1002/9781119406341 Sterne J. Artificial intelligence for marketing: practical applications. John Wiley & Sons; 2017 Aug 14 10.58346/JISIS.2024.I1.003 Jyothi V, Tammineni S, Thiyagu TM, Sowndharya R, Arvinth N. A Data Management System for Smart Cities Leveraging Artificial Intelligence Modeling Techniques to Enhance Privacy and Security. Journal of Internet Services and Information Security (JISIS). 2024; 14(1): 37-51 10.51983/ijiss-2023.13.2.3786 Prasad Babu P, Vasumathi A. Role of Artificial Intelligence in Project Efficiency Mediating with Perceived Organizational Support in the Indian IT Sector. Indian Journal of Information Sources and Services (IJISS). 2023; 13(2): 39–45 10.58346/JOWUA.2023.I2.007 Solikin I, Darmawan D. Impact of Artificial Intelligence in Improving the Effectiveness of Accounting Information Systems. Journal of Wireless Mobile Networks, Ubiquitous Computing, and Dependable Applications (JOWUA). 2023; 14(2): 82-93