Prioritizing IOT Implications for Innovation in Marketing Mix by Considering Technological, Legal and Market Factors in Iran

Document Type : Technology

Authors

1 Assistant Professor, Department of Information Technology Management, Faculty of Management, University of Tehran, Tehran, Iran

2 M.A. in MBA, Faculty of Management, University of Tehran, Tehran, Iran

3 M.S. in Information Technology (IT) Faculty of Management, University of Tehran, Tehran, Iran

Abstract

The increasing impact of innovative marketing strategies on the competitive advantage and business performance has led organizations to constantly apply new digital technologies for innovation in marketing mix. The advent of Internet of Things technology has made many innovations in businesses and marketing. Experts believe that IOT will revolutionize marketing by 2020. On the other hand, the development and diffusion of IOT is heavily influenced by market forces, legal conditions, technological infrastructures and interactions among them. Therefore, the purpose of this research is to prioritize the implications of IOT for innovation in marketing mix using these conditions. In this research, prioritization has been done using the opinions of experts familiar with the IOT technology and marketing. Analytic Hierarchy Process (AHP) method is used for weighting the critera and Fuzzy Topsis method is used for prioritizing. The research results indicate that market factors are more important than other factors and secondly, IoT implications in different marketing mix domains based on the mentioned criteria respectively include product, promotion, physical equipment, processes, locations, Price and people that have a higher priority for Iranian businesses. finally, it is suggested for developing IoT applications in the country, business executives should focus on business model design, ecosystem development, and the development of user-friendly services and policymakers should pay particular attention to implementing demand-side policies.

Keywords

References

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History

  • Receive Date: 07 December 2019
  • Revise Date: 26 April 2020
  • Accept Date: 13 May 2020

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