This research study aims to develop a strategic framework that identifies, classifies and prioritizes the critical success factors (CSFs) essential for implementing Marketing 4.0 in emerging economies. It seeks to bridge the gap between theoretical discourse and operational realities in digitally transforming markets.
Following an elaborate review of the extant literature, 38 such CSFs emerged, which were then segmented using principal component analysis into seven relevant dimensions. The constructs were validated using confirmatory factor analysis (CFA). Thereafter, the fuzzy-decision-making trial and evaluation laboratory (DEMATEL) was used to map the cause-and-effect relationship among the reduced component factors.
The results demonstrate that digital marketing (S2), channel cohesiveness (S3), driving technologies (S5) and mutual value proposition (S7) are found to be cause factors, while customer engagement (S1), market dynamism (S4) and strategic marketing (S6) are identified as effect factors.
The novelty of this study is embedded in integrating multianalytical approaches like principal component analysis, CFA and Fuzzy-DEMATEL to empirically validate and rank the CSFs of Marketing 4.0. This study also extends the theoretical understanding of Marketing 4.0 by aligning critical enablers with the dynamics of emerging markets.
