G. S.
College of Commerce & Economics, Nagpur 2022-23
PROJECT REPORT
"AN OVERVIEW OF THE USE OF ARTIFICIAL INTELLIGENCE IN
MARKETING"
Submitted to
G. S. College of Commerce & Economics, Nagpur
Affiliated to
Rashtrasant Tukadoji Maharaj Nagpur University, Nagpur
In partial fulfillment for the award of the degree of
Bachelor of Business Administration
Submitted by
YASH SHEKHARE
Under the Guidance of
Prof. SHUBHANGI JEPULKAR
G. S. College of Commerce & Economics, Nagpur
Academic Year 2022 – 23
G. S. College of Commerce & Economics, Nagpur 2022-23
INDEX
SR. No. PARTICULARS PAGE No.
1 Introduction 1
2 Company Profile 11
● Industry Profile
● Company Profile
3 Literature Review 17-20
4 Problem Definition 21-22
5 Objective of Study 23-28
Scope of Study
Limitations of Study
6 Research Methodology 29-31
Research Design
Primary Data
Secondary Data
7 Hypothesis 32-33
8 Data Analysis & Interpretation. 34-46
• Hypothesis Testing
10 Findings 47-49
11 Suggestions 50-51
12 Conclusion 52-57
Bibliography
Annexture
Questionnaire
G. S. College of Commerce & Economics, Nagpur 2022-23
INTRODUCTION
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G. S. College of Commerce & Economics, Nagpur 2022-23
CHAPTER 1
INTRODUCTION
WHAT IS MARKETING ?
Marketing is the process of creating, promoting and distributing products and services to
customers. It is the process of researching, advertising, selling and distributing a product or
service to a target audience. It involves understanding consumer needs and wants and creating
a product or service that meets those needs and wants. It also involves developing pricing
strategies, promotional tactics and distribution channels that will lead to the greatest customer
satisfaction.
WHAT IS ARTIFICIAL INTELLIGENCE ?
Artificial intelligence is the creation of intelligence machines which are capable of thinking
and reacting like humans, John McCarthy coined the term "Artificial Intelligence" and
McCarthy was one of the founders of the discipline of artificial intelligence. Artificial
Intelligence (AI) refers to the ability of machines to perform tasks that would normally
require human intelligence to accomplish. AI technologies use algorithms, statistical models,
and other computational techniques to learn from data and make predictions or decisions
based on that learning.
HISTORY OF MARKETING
Industrial Revolution (1760-1840s): The development of mass production techniques led to an
increase in supply, and marketers began to focus on creating demand for their products
through advertising and salesmanship.
Rise of Advertising (late 1800s): The introduction of mass media, such as newspapers and
magazines, provided new opportunities for businesses to reach a larger audience through
advertising.
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G. S. College of Commerce & Economics, Nagpur 2022-23
Marketing as a Discipline (early 1900s): The first marketing textbooks were published, and
marketing began to be recognized as a distinct field of study.
Consumer Culture (1920s-1950s): The growth of consumerism in the post-World War II era
led to an emphasis on branding, packaging, and product design as key elements of marketing.
Digital Age (1990s-present): The widespread adoption of the internet and digital technologies
has revolutionized marketing, with the rise of online advertising, social media marketing, and
e-commerce.
EVOLUTION OF MARKETING TO ARTIFICIAL INTELLIGENCE GENERATION
Marketing has undergone a significant transformation over the years, from traditional
methods like print and TV advertising to digital marketing through social media, email, and
search engines.in recent years, the rise of Artificial Intelligence (AI) has further
revolutionized marketing, allowing companies to analyze data and automate processes in
ways that were previously impossible.
One significant way AI has impacted marketing is through data analysis. With the increasing
amount of data available to marketers, AI can help to analyze and interpret that data to gain
insights into consumer behaviour, preferences, and needs. AI can also be used to personalize
marketing messages and experiences for individual consumers, making them more relevant
and engaging.
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HISTORY OF ARTIFICIAL INTELLIGENCE :
The birth of AI: The concept of AI was first introduced in the 1930s by mathematician and
philosopher Alan Turing, who proposed the idea of a machine that could simulate human
intelligence.
The 1950s: In the 1950s, a group of researchers including John McCarthy, Marvin Minsky,
Claude Shannon, and Nathaniel Rochester organized a conference at Dartmouth College to
discuss the possibility of creating machines that could think like humans. This conference is
widely considered to be the birth of AI as a field of study.
The 1960s and 1970s: During the 1960s and 1970s, AI research focused on developing rule-
based systems, which used a set of logical rules to make decisions. These systems were used
for applications such as expert systems and natural language processing.
The 1980s and 1990s: In the 1980s and 1990s, AI research shifted towards developing
machine learning algorithms, which could learn from data without being explicitly
programmed. This led to the development of neural networks, which were modeled after the
structure of the human brain.
The 2000s and beyond: In the 2000s and beyond, advances in computing power and data
storage have enabled the development of deep learning algorithms, which use multiple layers
of neural networks to perform complex tasks such as image recognition and natural language
understanding. Other areas of AI research include robotics, cognitive computing, and
autonomous systems.
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G. S. College of Commerce & Economics, Nagpur 2022-23
HOW IS ARTIFICIAL INTELLIGENCE IMPACTING MARKETING ?
Al Marketing is quickly becoming an important ingredient that can no longer be ignored, so
what can marketers expect from Al both now and in the future, and how exactly will it impact
their overall business strategy?
AI is transforming the way marketers approach their campaigns. AI enables marketers to gain
a deeper understanding of their customers and to create personalized experiences for them. AI
can be used to analyze customer data and to identify customer segments with similar
characteristics. This can then be used to target specific audiences with tailored content,
increasing engagement and driving conversions.
SMARTER SEARCH :
Today's digital consumer can find information faster and more efficiently than ever before.
Thanks to a combination of social media and lightening fast search engines like Google,
people no longer spend excessive amounts of time sifting through information for what they
need. Google changes and improves its search algorithm almost daily and marketer must
recognize this and ensure their content stays optimized according to these changes.
SMARTER ADVERTISEMENTS:
Smarter ads will likely be one of the main reasons Al Marketing will have such an important
and lasting impact in the years to come. The ability for brands to use Al Marketing to develop
key strategy.
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G. S. College of Commerce & Economics, Nagpur 2022-23
KEY USES OF ARTIFICIAL INTELLIGENCE IN TODAY MARKETING
CHATBOTS:-
If there's one type of Al that businesses see as a game-changer, its chatbots. Chatbots are
already on numerous websites, as they excel at answering customers: frequently asked
questions. The key fascination with chatbots is the impact they can have on the customer
experience. For some businesses, there aren't enough employees or hours in the day to answer
customer queries quickly.
CREATING - GENERATING CONTENT:-
What? A machine that writes by itself and creates content from scratch? There's no way! But,
I have news for you...
There is a way! And even though Al still can't write its own political opinion for a newspaper
column or a blog post on the best and most practical advice for a specific industry, there are
certain areas in which content created by Al can be useful and help attract visitors to your
website.
CONTENT CURATIONS:-
Al is not only able to generate content; it can also curate it. Content curation by artificial
intelligence will make it possible to better connect with visitors on certain websites and show
them more relevant content. This technology is commonly used to make personalized content
recommendations that the user may find interesting, such as the typical. "people who buy X
also buy Y," like we constantly see on Amazon.
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G. S. College of Commerce & Economics, Nagpur 2022-23
PRODUCTION & CONTENT RECOMMENDATIONS :-
Fast forward to 2019, and some of the most successful digital companies have built their
product offerings around the ability to provide highly relevant and p sonalised product or
content recommendations - including Amazon, Netflix and Spotify. As Lori Goldberg wrote
in a brief history of artificial intelligence in advertising for Econsultancy.
EMAIL MARKETING :-
Brands are using the power of Al to personalize email marketing campaigns based on
preferences and user behaviours. This makes it possible to better connect with them and, with
a hit of luck, turn them into clients.
DIGITAL ADVERTISING:-
Digital advertising is, without a doubt, the area of digital marketing that's most successfully
adopted artificial intelligence.
For example, Facebook and Google ad platforms already use machine learning and artificial
intelligence to find people more prone to making the advertiser's desired action.
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G. S. College of Commerce & Economics, Nagpur 2022-23
HOW ARTIFICIAL IINTELLIGENCE SUPPORT
Artificial Intelligence (AI) can support various areas of human life in many ways. Here are
some examples:
HEALTH CARE : AI can help doctors and healthcare professionals diagnose diseases,
analyze medical images, and develop treatment plans. AI-powered tools can also assist with
patient monitoring and management, providing more personalized and effective care.
EDUCATION : AI can support education by providing personalized learning experiences for
students, automating administrative tasks, and helping teachers to identify areas where
students need extra help.
BUSINESS : AI can support businesses by automating routine tasks, improving customer
service, and analyzing data to gain insights into consumer behavior and market trends. AI-
powered tools can also optimize supply chain management, reduce waste, and increase
efficiency.
SOCIAL SERVICES : AI can support social services by identifying patterns of fraud and
abuse in welfare programs, providing personalized support for people with disabilities or
mental health conditions, and optimizing resource allocation to support vulnerable
populations.
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G. S. College of Commerce & Economics, Nagpur 2022-23
8 Ways Intelligent Marketers Use Artificial Intelligence:-
AUTOMATED IMAGE RECOGNITION
If you’ve recently used Google Photos, you may have noticed how good the system has
become at recognizing people and images. In recent years, software has become superhuman
at recognizing people, with accuracy exceeding 99%.
INTELLIGENT E-MAIL CONTENT CURATION
Your team often spends hours compiling and scheduling weekly emails to multiple customer
segments. Even with smart subscriber segmentation, you can’t deliver a personalized email to
every single customer. Yet, a 2016 study by Demand Metric found that 80% of marketers say
personalized content is more effective than “unpersonalized” content.
AI-ENHANCED PPC ADVERTISING
Most marketers allocate their pay-per-click budgets to AdWords and Facebook. According to
eMarketer, Google controls 40.7% of the U.S. digital ad market, followed by Facebook with
19.7%.
SMART CUSTOMER ENGAGEMENT
Machine-learning algorithms also can help identify disengaged customer segments that are
about to churn or leave for a competitor.AI-powered tools in this category can help gather
data, build a predictive model, and test and validate that model on real customers. That
information can indicate what stage of churning the person is in. While quick-churn
customers (users who abandon a product shortly after starting to use it) are difficult to re-
engage, late-churn customers (those who have a long-lasting relationship with your brand) can
be incentivized to keep using your product.
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G. S. College of Commerce & Economics, Nagpur 2022-23
AI-POWERED CUSTOMER INSIGHTS
Where it would take humans an immense amount of time to crunch all the numbers and match
them to customer’s behavioral patterns, AI can give marketing insights on the fly.Dynamic
Yield helps the likes of Under Armour, Sephora, and Urban Outfitters build actionable
customer segments by using an advanced machine-learning engine
AI - POWERED CONTENT
Natural-language generation holds tremendous potential in making the work of content
creators more efficient. By 2018, Gartner predicts, 20% of
AI-POWERED CONTENT CREATION
Natural-language generation holds tremendous potential in making the work of content
creators more efficient. By 2018, Gartner predicts, 20% of all business content will be
authored by machines.
CONTENT-CREATION CHATBOTS
If you’ve recently chatted online with a customer service rep, your helpful correspondent
named Ashley or Jen might have held a little secret – she’s a bot.
From fashion to health to insurance, intelligent chatbots are providing borderline magic
customer support. And in some cases, they’re better at creating personalized content than
humans.
HIGHLY PERSONALIZED WEBSITE EXPERIENCE AND BETTER
While AI’s capacity is far from being able to build new websites from the ground up, it can
help you enhance your visitor experience with intelligent personalization on your site.
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SCOPE OF STUDY
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G. S. College of Commerce & Economics, Nagpur 2022-23
5.2
SCOPE OF STUDY
1. Review of the current state of AI in marketing and its impact on the industry
2. Analysis of the potential benefits and challenges of AI in marketing
3. Examination of the impact of AI on consumer behaviour and preferences
4. Assessment of the skills and resources required for effective implementation of AI
5. Evaluation of the effectiveness of AI in marketing campaigns through case studies
6. Exploration of the role of AI in enhancing customer experiences and engagement
7. Examination of the impact of AI on job roles and the future of work in marketing
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G. S. College of Commerce & Economics, Nagpur 2022-23
DATA ANALYSIS &
INTERPRETATION
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G. S. College of Commerce & Economics, Nagpur 2022-23
CHAPTER 8
DATA ANALYSIS & INTERPRETATION
WHICH KIND OF MARKETING IS EFFECTIVE NOW :
From the findings it can be said that maximum people voted for the online mode of marketing as their
preference considering today's digital world and only 8 opted for the offline mode which is considered as the
traditional style of selling the products.
Mean - 40
Standard Deviation-45.25
Variance - 2048
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G. S. College of Commerce & Economics, Nagpur 2022-23
DID YOU THINK ARTIFICIAL INTELLIGENCE IS FUTURE IN DIGITAL
MARKETING :
As good as 90% which is 72 people out of 80 are very well aware of the term social media marketing, 7 people
being partially aware of this and only 1 have answered for no as he/she might not know about this from of
marketing.
Mean - 26.66
Standard Deviation-39.37
Variance 1550.33
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G. S. College of Commerce & Economics, Nagpur 2022-23
ARTIFICIAL INTELLIGENCE IMPACT IN CUSTOMER RECOMMENDATION :
There are total 80 people participating in this from different age groups- majority are from 20-25 years group
i.e. 52 (65% of the total population), second comes from 15-20 years group i.e. 20 (25% of the total
population) and lastly from 25-30 years group counting to 8 (10% of the total population).
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G. S. College of Commerce & Economics, Nagpur 2022-23
IN SOCIAL MEDIA WHERE THE MOST OF ARTIFICIAL INTELLIGENCE IS USED :
In the above mentioned question, what are your interests on social media was asked from the participants for
which they can go for more than one option. The top options for which people voted majorly are products
(53.3%), services (38.7%), chatting (41.3%) and promotions/ offers (24%).
Mean - 15.5
Standard Deviation-16:10
Variance-259.42
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G. S. College of Commerce & Economics, Nagpur 2022-23
RECOMMENDATION OF ARTIFICIAL INTELLIGENCE IS HELPFUL :
When it comes to knowledge about new brands in the market we can clearly see from the above pie chart that
social media platforms do help majorly in establishing an image in the minds of the consumer. 85% and above
are strongly in favor of this, with 12.5 % ( 10 people) being in neutral position and only 2 people does not
stand with this.
Mean - 16
Standard Deviation-16.98
Variance-288.5
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G. S. College of Commerce & Economics, Nagpur 2022-23
DID ARTIFICIAL INTELLIGENCE SCOPE IN SOCIAL MARKETING?
Presence of business on social media sites helps them in reaching new customers which in turn increase their
sales, profit margins, increased share in the market etc. keeping all this in mind 80% (64 people) out of 80 do
think this way of marketing as a success, with 16.2% (13 people) thinking equally for both and only 3 think
this as an unsuccessful step.
Mean-26.66
Standard Deviation-32.71
Variance - 1070.33
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G. S. College of Commerce & Economics, Nagpur 2022-23
GROWTH OF ARTIFICIAL INTELLIGENCE INTO MARKETING :
On the rating scale from 1 to 8, 1 being the least likely and 8 being most likely they will or will not
recommend the brand artificial intelligence, rating 5 can be considered as the middle value. So as per the data
presented in the above graph most the people gave the rating above 5, which means they have a positive
outlook for this and will suggest the products to others.
In several year there is extremely growth into an artificial intelligence marketing and business sources.
artificial intelligence help's business by business chatbots, automation, recommend features.
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CONCLUSION
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G. S. College of Commerce & Economics, Nagpur 2022-23
CHAPTER 12
CONCLUSION
The aim of the paper was to find out the impact of Al on marketing by including the
perspective of marketing professionals. In order to reach the objective of the research and to
answer the research questions, different steps were followed. At first, a comprehensive
literature review was highlighted which provided a detailed understanding of Al and the use
of Al in marketing by including the perspective of different researchers. Secondly, the
researcher used the qualitative research method which involved semi-structured interviews
with different marketing professionals belonging to different firms in India.
The above findings highlight the importance of Al in the marketing of businesses. Al has
transformed the landscape marketing and helps in updating the outdated methods of
marketing. This will be a major challenge for the organizations to transform according to the
changing landscape of marketing. The organizations need to prepare themselves for the
future and train their employees constantly with the emergence of innovation. The research
has positively contributed to the existing literature by filling the existing gaps present in the
literature by taking the marketing professional's perspective on the impact of Al in
marketing. This highlighted the importance of Al in marketing and the major benefits
associated with the integration. In addition, major challenges, ethical aspects, and usages
provided a guideline to the companies to adopt Al in marketing. It is recommended to the
firms to follow the aspects and challenges while integrating Al in marketing.
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BIBLIOGRAPHY
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CHAPTER 13
BIBLIOGRAPHY
LINKS:-
□ https://mobidev.biz/blog/artificial-intelligence-ai-marketing-use-cases
□ https://www.adverity.com/ai-marketing
□ https://www.sciencedirect.com/science/article/pii/S2666603022000136
□ https://levity.ai/blog/how-to-use-ai-for-marketing-benefits-examples
□ https://contentmarketinginstitute.com/articles/marketers-use-artificial-intelligence/
□ https://www.marketingevolution.com/marketing-essentials/ai-markeitng?hs_amp=true
REFERENCE:-
1. Ahmed, K. (2015, September 16). Google's Demis Hassabis-misuse of artificial intelligence
'could do harm'. httpswww.bbc.com/news.business-34266 425 Accessed: 6 November 2018,
2. Bughin, J., Hazan, E., Manyika, J., & Woetzel, J. (2017). Artificial Intelligence: The Next
Digital Frontier, McKinsey Global Institute.
3. Hoanca, B. and Forrest, E. (2015). Artificial Intelligence: Marketing's Game Changer - IGI
Global
4. Kaput, M. (2016, November 1). The Marketer's Guide to Artificial Intelligence
Terminology.
https://www.marketingalinstitute.com/blog/the-marketers-guide-to-artificial-intelligence-
termina log Accessed: 6 November 2018. 6. Lee, C., Wang, M., Yen, S., Wei, T., Wu, L.
Chou, P. & Yang, T. (2016, August).
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