Marketing leadership: the industry 4.0 need of next generation marketing

Abstract

The evolution to Industry 4.0 the Bulgarian business needs to improve not just innovations and human resources, but to change their "software" to manage their own business. Thus, the change of business requires a next generation of marketing and respectively, a brand new marketing organization. The main purpose of the paper is to open a discussion where is a need of new marketing organization as well as does it possible to change the existing marketing or to evolve it. So, the paper is based on the good practices of the world leading companies and explore the opportunities to introduce them to the Bulgarian industrial business. The methodology approach of the paper is based on the theoretical and methodological research of the contemporary marketing literature and lessons learnt from the business. The structure of the paper is: 1. Introduction: next steps and requirements of Industry 4.0 approach to change business inside; 2. State of art: discussion on the marketing organization and its evolution; 3. Methodology approach: introducing the steps to establish a marketing leadership in Bulgarian industrial business; 4. Empirical results: presentation of the possibilities to enforce the evolution of marketing organization; 5. Conclusions: next steps of the good marketing practices.

Digital transformation of traditional marketing business model in new industry era

“…Marketing is one of the most important functions that need to be altered according to the digital transformation to protect competitiveness. A combination of information technology (IT) and operations management technologies through IoT applications leads to the decrease in the way between customers and producers, and the role of customer relationship management (CRM) systems increases in terms of managing customer data and cooperation between stakeholders (Sterev, 2017).…”

The suitable leadership for industry 4.0

“…The new Industry (4.0) uses cyber-physical systems and communications technology in the production process and is a smart factory that is partially autonomous and is based on new innovations, greater customisation, and brilliant customer management system. The system consists of four major elements as stated by Sterev (2017) to be "internet of data; internet of people; internet of service; and internet of things". It takes advantage of the Internet and other improvements in communications to provide a new marketplace and new communication methods with customers where business owners can work with the greatest efficiency and be able to increase their profits.…”

Industry 4.0 and Marketing: Towards an Integrated Future Research Agenda

“…Some of the technologies driving the rise of Industry 4.0 include smart manufacturing technologies such as additive manufacturing and autonomous robots, cloud computing, augmented reality, Big Data, and the Internet of Things (IoT) [2]. Sterev [3] explained that Industry 4.0 combines innovations, human capital, and a new entrepreneurial mindset that forms a contemporary business culture. As a result, Industry 4.0 has led to greater flexibility of production processes and focus on customer needs and demands in order to overcome market complexity.…”