Interconnected world in its early phase of development has experienced a revolution. Since last few years the way of communication has changed and the ways of connecting to the Internet has enhanced because of the latest technologies, apps and online methods that are bouncing ahead. Internet of things is estimated to emerge in various exclusive ways and thus will continue to evolve accordingly with the passage of time. The consolidation of the internet with the physical world in the coming future will become exclusively more intertwined thereby becoming a sort of revolution. Internet of things basically refers to the all interconnected things, smart devices and software and users of the information provided. There have been certain fundamental building blocks that states that how IoT is beneficial for vendors in improvising their business performance.
Marketing Information system: Internet of Things technology enable vendors to monitor behavior in real time and it has the capacity to compile and consider feedback. This enables decision makers to take suitable action and provide an analysis report accordingly of how properly the measures that have been taken were executed. Rather than awaiting on speculations made by executives, it caters you with real time information according to the needs of the user at at an economical price.
Branding: IoT in response to certain brand elements as logos, colors, shapes etc can monitor brain activity, eye movement and various other human resources. The dealers could be able to get more adequate data than is possible from established consumer research. This thereby enables in increased productivity, and improvising the customer relationship, thereby increasing and reducing at economical cost.
Product: Sensor based product enables feedback regarding how people use the products, and they even states when product is about to fail and the rate at which their services are being used. THere are certain devices that even informs regarding battery low, remotely turn products on or off and various other functions having inbuilt artificial intelligence. It even enables users to notify regarding failures, defects, efficiency and accordingly order serviceable, so that they arrive as they need to be restored. This all will thereby cater vendors with an economical cost of manufacturing, maintaining and distributing customer services and get whatever they want.
Price: In order to improve seller marketers performance and consumer’s experience, there are certain fundamentals as enhanced customer satisfaction. lower customer services and reduction in defects. On the basis of buyers previous track record regarding history and loyalty to the company, IoT caters distinct cost to be dynamically offered by different vendors.
Distribution: IoT is very effective in promoting brands among users as well as buyers and tells them the nearby place of purchasing the products. It enables vendors in sensing their customers who are near to them and sends them alerts on their mobile or any internet enabled device regarding various discounts going on products and send them coupon accordingly.
Promotion: There is no denying the fact that IoT online content becomes easily accessible according to the interest of consumers and click through rates. There are various dynamic factors that keep on changing throughout the day, similarly retail store window and in-store displays can be altered in real time. It allows buyers to get details regarding products, discounts and order directly via Smart screens all through homes, shopping malls and offices.
There are certain devices as Google glass, iWatch, Smart TV, Smart screens, smart posters, billboards, smart ink and smart clothing that already exists on the horizon. IoT is a technology that serves its customers with exclusive and efficient set of real time services and offers marketers with a capacity of interacting with marketplace in real time.
By: Ridhima Gupta
Posted: August 7, 2014, 11:59 am
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