What is Marketing 5.0: the gamechanger that your business needs

The author of the Marketing 5.0 concept is Philip Kotler, author of “The 4 P’s of Marketing”, who defines this new era of the industry as the “union of technology and humanity”.

What is marketing 5.0

Kotler describes in his book “Marketing 5.0: Technology for Humanity” all that this new era marked by technological progress implies.

This concept focuses on the consumer experience through interaction with technology, which has led to an evolution in consumer behavior. Given that the trend indicates that we are facing an increasingly conscious, more sustainable and more innovative consumer, this new era of marketing aims to give them a space in which they feel comfortable. A space that meets their requirements and needs.

We have witnessed how everything has changed (and continues to change) thanks to technology: the internet, social networks, artificial intelligence… We are constantly learning. Every day something new enters our life and we do not have time to assimilate the things that have had happenned before. The consumer also knows that feeling. That is why it is now when brands must strive to create a relationship with their customers by taking advantage of the possibilities offered by new technological tools and the option of betting on real-time communication.

Marketing 5.0 proposes a new concept: Next Tech. It refers to those technologies that try to imitate human actions, including artificial intelligence and virtual reality.

Within marketing 5.0 we can find:

• Data marketing: focused on the use of data to optimize the marketing efforts of any company. It is based on collecting, analyzing and applying consumer-related data to make more effective decisions.
• Predictive marketing: uses artificial intelligence, machine learning and big data analysis to predict future consumer behavior.
• Contextual marketing: focuses on delivering advertising content to customers based on their environment and the information they are used to receiving.
• Augmented marketing: this type of marketing makes use of the digital world and technologies to enhance the customer experience.
• Agile marketing: refers to being more adaptable, fast and collaborative in the planning and execution of marketing strategies.

As you can see, this concept is in line with the trends expected for 2024 and probably, it will be the tendency for many more. Try to implement it in your business strategy and see how effective the results are.

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