Artificial intelligence in marketing strategy

Article Analysis Sheet

Article Topic/Research Topic:

Artificial intelligence in marketing strategy

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Name: Think with me, or think for me? On the future role of artificial intelligence in marketing strategy formulation Submission Date: 12 of January 2024

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Introduction:

·???????? The research explores the role of Artificial Intelligence (AI) in marketing strategy formulation.

·???????? It discusses the importance of AI in strategic decision-making and the impact of AI on the business organizational model.

·???????? The study emphasizes the potential for AI to be used not only for rational thinking but also for creative purposes.

·???????? Qualitative research is conducted, including in-depth interviews with industry experts currently using AI tools.

·???????? The objective is to contribute to knowledge about the role of AI in marketing strategy formulation.

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Subject/Title:

The role of Artificial Intelligence (AI) in marketing strategy formulation.

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Analysis:

·???????? Research Focus and Methodology: The study, employing qualitative research methods, investigates the role of Artificial Intelligence (AI) in marketing strategy formulation through in-depth interviews with industry experts.

·???????? Key Themes Identified: The interviews reveal five main themes:

·???????? Importance of AI in strategic marketing decision management.

·???????? The presence and role of AI in strategic decision-making processes.

·???????? Impact of AI on the business's organizational model.

·???????? The necessity of a creative-possibility perspective in utilizing AI.

·???????? The significance of business culture in effectively leveraging AI.

·???????? Geographical Context and Data Collection: The research was conducted in Italy, with a sample size of 13 interviews, ensuring data saturation and relevance to areas experiencing a growing interest in AI.

·???????? Findings Presentation: Results are articulated using the Gartner analytics ascendancy model, demonstrating how increased analytics maturity can provide a competitive advantage.

·???????? Outcomes of the Study: The research highlights:

·???????? AI's critical role in managing large data volumes and uncertain environmental conditions in marketing.

·???????? The importance of aligning business culture with AI strategies.

·???????? AI's potential to significantly enhance strategic decision-making in marketing.

·???????? Contribution to Knowledge: The study offers both academic and practical insights, contributing to the understanding of AI in marketing strategy formulation.

·???????? Future Research Directions: The study suggests areas for future research in AI and marketing strategy.

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Objectives of the study:

·???????? The objective is to explore if and how Artificial Intelligence can contribute to marketing strategy formulation.

·???????? The study aims to provide insights into the importance, presence, and role of AI in strategic decision management.

·???????? It also aims to examine the impact of AI on the business’ organizational model and the importance of business culture in utilizing AI effectively.

·???????? Additionally, the study explores the potential for AI to be used for creative thinking purposes in strategy creation.

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Context of the study:

·???????? The study is conducted in Italy, where AI is a topic of current interest and there is support for research and investment in AI.

·???????? Italy has established an expert group and national projects aiming to enhance AI research, establish AI on the market, and encourage investment in AI.

·???????? The study was conducted in Italy, where AI is a topic of current interest and the researchers had access to industry experts.

·???????? Italy has seen initiatives from the Italian Ministry of Economic Development and the “Impresa 4.0” project to enhance research, establish AI in the market, and encourage investment in AI.

·???????? The interviews were conducted using a snowball sampling procedure, and a total of 13 interviews were undertaken to ensure data saturation.

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Conceptual framework:

·???????? The study proposes a conceptual framework called the “creative-possibility perspective” to inform the future use of AI in marketing strategy formulation.

·???????? The framework highlights the potential for AI to not only provide rational thinking but also assist in creative strategy creation.

·???????? The study uses the Gartner Analytics Ascendancy Model (GAAM) to assess the maturity of a firm’s analytics implementation in the context of strategy making.

·???????? The GAAM model progresses from descriptive analytics to prescriptive analytics, and the authors propose an additional step called Creative Analytics, which involves using AI for creative strategy creation.

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Research methodology:

·???????? Qualitative research is conducted using exploratory in-depth interviews with industry experts currently using AI tools.

·???????? The interviews follow a consistent protocol and include pre-defined, semi-structured questions.

·???????? Snowball sampling is used to select appropriate participants based on their pre-existing experience with AI.

·???????? Data saturation is used to determine the sample size, and a total of 13 interviews are undertaken.

·???????? Thematic analysis is conducted to identify common themes and insights from the interviews.

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Outcomes:

·???????? The outcomes of the study include insights into the importance of AI in strategic marketing decision management, the presence of AI in strategic decision management, the role of AI in strategic decision management, the importance of business culture for the use of AI, and the impact of AI on the business’ organizational model.

·???????? The study suggests that AI can be an effective response to the high volume of data and uncertain environmental conditions in strategy creation.

·???????? It also suggests the need for a creative-possibility perspective in utilizing AI for strategy creation purposes.

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Recommendations:

·??????? The study recommends considering a “creative-possibility perspective” for future use of AI in the strategic marketing process.

·??????? It suggests further research in exploring the potential of AI for creative strategy creation and the impact of AI on the business’ organizational model.

·??????? The study contributes academically by providing insights into the role of AI in marketing strategy formulation and offers practical recommendations for utilizing AI effectively.

·??????? The study suggests that AI can be used effectively as a response to the high volume of data and uncertain environmental conditions in strategy creation.

·??????? It emphasizes the potential for AI to not only assist in rational thinking but also in creative purposes.

·??????? The authors recommend considering a “creative-possibility perspective” for the future use of AI in the strategic marketing process.

·??????? The research findings contribute to knowledge about the role of AI in marketing strategy formulation and offer insights for both academia and practical application.

·??????? The study highlights the importance of business culture in utilizing AI effectively and suggests that industry-university partnerships can help facilitate change and readiness for AI adoption.

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References

Eriksson, T., Bigi, A., & Bonera, M. (2020). Think with me, or think for me? On the future role of artificial intelligence in marketing strategy formulation. TQM Journal, 32 (4), 795–814.