Digital Transformation of Traditional Marketing in the New Industrial Era

Abstract

This study looks at how digital technology has helped traditional marketing companies innovate their business models. The idea of business models has been evolving over the past 20 years, and digital technology is thought to be a crucial enabler for business model developments across several industries. This paper develops a comprehensive business model framework to systematically define its key constructs, followed by an analysis of how and why business models have changed. Finally, the paper explores the role played by digital technologies in business model innovations. The paper advances our knowledge of business model theory and the ways that digital technologies have been applied to promote business model improvements. Additionally, it considers how traditional marketing could encourage entrepreneurship and innovation in many economic areas. The most important details in this text are the objectives of the study, the research methodology and empirical findings, and the need of the study. The objectives of the study are to reach a larger audience at a lesser cost, to identify the satisfaction level of customers about online and traditional marketing, and to investigate how conventional marketing companies may successfully navigate the digital age and modify their business modelsto remain competitive and relevant. The survey of 105 respondents found that 39% always prefer to purchase online, while 14.3% never do. The study's overall goal is to offer useful information on how traditional marketing companies may successfully navigate the digital age and modify their business models to remain competitive and relevant.