MKTG1047 Research Topic – AI Marketing in the Singaporean Market
A company called Exclusive Inc. has engaged your group to conduct market research about the perceptions of AI marketing strategies in the Singaporean market. Specifically, the company is interested in how these strategies shape consumers’ attitudes and behaviours. Exclusive Inc. has provided your team with the following brief about current trends in AI marketing, as well as the benefits and risks of using this marketing strategy. Your market research will help Exclusive Inc. develop future marketing campaigns for brands in the Singaporean market.
Artificial Intelligence (AI) is an evolving technology that has the potential to change the way content is created, consumed, and distributed. AI can be used across various industries and categories to generate content that is more personalized, engaging, and relevant to users. It includes (but is not limited to): natural language processing, computer vision, machine learning, and deep learning algorithms.
There are numerous successful examples of AI strategies. Here are a few notable ones:
- Anthropic, the company behind Claude, has built its entire AI system around natural language processing and machine learning algorithms. Anthropic encourages researchers and developers to use its AI models to create innovative applications and solutions.
- OpenAI launched the “DALL-E” system, which allows users to generate unique and creative images from text prompts. This system fosters a sense of creativity and imagination, and has been used by artists and designers to create unique artwork.
- Netflix utilises AI to recommend personalized content to its users based on their viewing history, preferences, and other data. This AI-powered recommendation system helps users discover new shows and movies that they are likely to enjoy.
These examples illustrate how AI strategies can be powerful tools for enhancing user experiences, personalizing content, and driving innovation. For users of these AI-powered platforms and applications, AI provides an avenue to access more relevant and engaging content, while also enabling new forms of creativity and expression.
AI has also proven to be a valuable strategy for not-for-profit and charitable organizations, as it can help automate certain tasks, analyze data more efficiently, and provide insights that can inform decision-making and resource allocation. However, there are risks to consider. For companies, these include ethical concerns, bias in data and algorithms, privacy issues, and the potential for misuse or unintended consequences. For consumers, there are concerns about job displacement, privacy violations, and the potential for AI systems to be used for malicious purposes. Thus, Exclusive Inc. must carefully consider how to harness AI effectively while mitigating associated risks.
In conclusion, as Exclusive Inc. embarks on formulating its AI-focused marketing strategy, thorough research and thoughtful considerations are imperative. Crafting an effective approach to leverage AI will not only enhance user experiences and drive innovation but also position Exclusive Inc. as a technologically advanced and forward-thinking brand in the Singaporean market. Therefore, companies such as Exclusive Inc. need to think carefully about creating and executing an effective AI marketing strategy.
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Your Task:
You are required to choose ONE of the following industries as the focus for your research:
- Automobile
- Food and/or beverage
- Clothing and accessories
- Electronics and/or IT-related products
- Cosmetics and/or toiletries products
- Music, games, and/or entertainment-related products
Once you have familiarised yourself with the market research brief and selected an industry focus (i.e. A, B, C, D, E, or F), the client has asked that your team address the TWO following research objectives in your project:
- To identify what AI marketing features (e.g., authenticity, transparency, etc., promoting products vs. practices vs. corporate social responsibility) will likely lead to positive or negative brand perceptions.
- To identify the consumer characteristics (e.g., demographics, personality characteristics, innovativeness, etc.) of those likely to react positively or negatively to AI marketing.
Your team also needs to develop 2 ADDITIONAL research objectives to address in your project, along with a Management Decision Problem and a Marketing Research Problem. This means you will have:
- 1 Management Decision Problem
- 1 Marketing Research Problem
- 4 research objectives in total
Once your group has developed appropriate research objectives, you must then choose the appropriate research method (e.g., interviews, focus groups, surveys, experiments, etc.) to answer your research objectives. Once your group has selected an appropriate research method, your group is then responsible for collecting the data, conducting the appropriate data analysis, reporting the results, and developing recommendations for the client (i.e., Exclusive Inc.).
Final Report
Below is the final report structure, including required sections and their relative weighting. Please also see the rubric on Canvas that your local lecturer will use to mark your final report. In the rubric, the executive summary and introduction and company background are grouped into one score. The overall score is out of 40 marks. Here we displayed the percentages. This contains details about the expectations for/what should be included in each section of the final report.