Innovative Marketing Strategies in the Digital Age: Leveraging Technology for Market Dominance

Wu Xiao; Liu Quanliang; Yao Huanli; Srikrishna Banerjee

doi:10.36948/ijfmr.2023.v05i06.8138

Innovative Marketing Strategies in the Digital Age: Leveraging Technology for Market Dominance

Author(s)	Wu Xiao, Liu Quanliang, Yao Huanli, Srikrishna Banerjee
Country	China
Abstract	The integration of digital technology has become essential for both markets and society, leading to the emergence of digital transformation as a crucial aspect of business innovation. Nevertheless, the process of digital transformation is intricate, and organizations continue to face challenges in comprehending and effectively capitalizing on its potential benefits. This research examines the present implementation of digital technology within enterprises. The article examines the effects of digital transformation on traditional marketing, specifically how it can alter the conventional process of value creation that marketing is predominantly engaged in. It delves into the impact of digital transformation on several aspects of traditional marketing, such as its role, organization, and tools. The study employed a qualitative research methodology, namely in-depth interviews, to gather data from managers employed in various businesses in Italy. The findings indicate that organizations frequently utilize digital technology, but predominantly rely on conventional tools. Moreover, companies tend to exhibit a higher degree of digitization rather than complete digital transformation. Digital technologies have a significant influence on marketing since they enhance market analytics, pricing strategies, and channel management, while also facilitating the establishment of client interactions to foster value co-creation. Professional abilities are enhanced in numerous ways, while organizational processes are becoming increasingly efficient and adaptable through the utilization of diverse knowledge and cross-functional experiences. This study examines the research and managerial consequences associated with the obstacles and hazards encountered during the execution of digital transformation initiatives.
Keywords	Customer-Centric Approach, Digital Marketing Transformation, Data Privacy and Security, Market Dominance, Technology-Driven Strategies
Field	Business Administration
Published In	Volume 5, Issue 6, November-December 2023
Published On	2023-11-04
Cite This	Innovative Marketing Strategies in the Digital Age: Leveraging Technology for Market Dominance - Wu Xiao, Liu Quanliang, Yao Huanli, Srikrishna Banerjee - IJFMR Volume 5, Issue 6, November-December 2023. DOI 10.36948/ijfmr.2023.v05i06.8138
DOI	https://doi.org/10.36948/ijfmr.2023.v05i06.8138
Short DOI	https://doi.org/gs38nh

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Innovative Marketing Strategies in the Digital Age: Leveraging Technology for Market Dominance

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