Role of IoT in Industrial Transformation and Marketing Management

Abstract

This is an extended research article discussing the role and the applications of the internet of things (IoT) in industrial transformation (ITN) in general and in marketing management (MMgnt) under five research proposals. IoT has already reached its threshold of success in all the disciplines and MMgnt has also been applying it in many of its areas for optimum growth, development, and safe working. This chapter is a case-based qualitative analysis which involves the role of IoT in three fields of MMgnt, namely customer relationship management (CRM), business process models (BPM), and product life cycle (PLC). For study, many instances from the real retail firms are compared before and after the application of IoT and presented the distinguished achievement of classification of IoT. This study proposes five IoT plans for measuring the effectiveness of IoT for the above-mentioned three sections of MMgnt that depend on the collection and sharing of data from external and internal environments.

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