Digital Transformation: The Age of Innovations in Business and Society

This chapter considers main factors of digital transformation in business and society. The latest studies of digital ad spend in Europe and a number of marketing technology solutions all over the world within the period 2011-2020 have confirmed a rapid development of digital technologies in business and society. It was justified that due to digitalization process companies have to revise their priorities and modify their main strategic goals for simultaneous achievement of commercial efficiency and a social effect. These goals need some adjustment to specific requirements and wishes of main process participants that form five levels of approval. Proposed marketing management model in digital transformation of business and society contains basic components, which lie in the digital contour. Responses of millennials (the people born at the turn of the century) on the use of digital technologies in different spheres of life are analyzed. The pilot research allowed to distinguish three groups of millennials depending on how actively they use digital technologies in different spheres of life. Main directions of innovative marketing management development are defined. The opportunities of implementing functionality of artificial intelligence, neuromarketing, augmented and virtual reality, marketing technologies MarTech in company business-processes are studied.