Over time, the focus of marketing has changed. In addition to a product or service's functional advantages, customers are now also drawn to its emotional ones. Marketers must…
Abstract
Over time, the focus of marketing has changed. In addition to a product or service's functional advantages, customers are now also drawn to its emotional ones. Marketers must understand how important it is to give customers' needs and preferences top priority in view of increased competition and changing consumer behaviour. Customers are increasingly researching products online and making purchases through digital channels; therefore, marketers need to adapt how they communicate with customers on these new channels. Therefore, this chapter explores the importance of Artificial Intelligence (AI), human-mimic technology and its applications in various industries along with the challenges of implementing Marketing 5.0 and using AI in marketing campaigns, the psychological effects of Marketing 5.0 on consumer behaviour and engagement and the potential benefits of Marketing 5.0.