Date of Award

Spring 2016

Document Type

Undergraduate Honors Thesis

Degree Name

Bachelor of Business Administration in Marketing

Department

Marketing

Advisor

Dr. Aarti Ivanic

Abstract

The growing phenomenon of the Internet of Things (IoT), which is that any item capable of being connected to the Internet will be, presents an unprecedented opportunity for businesses. Using an extensive literature review, the current research examines the significant shift in marketing strategies that need to take place to target the millennial generation of as they adopt IoT. Most research defines the Millennial generation as those born from the early 1980s to the early 2000s. As individuals in this generation grow older, there are two behavioral implications: 1) their acceptance of technology suggests they will be quick to adopt IoT, and 2) their growing purchasing power and consumer behavior make them an ideal target for marketers. Millennials who adopt IoT offer their data more willingly to marketers and firms, which makes it easier for marketers to collect data and target customers more precisely. Additionally, IoT devices will enable various platforms for content marketing that are significantly different from and more effective than a 30 second TV commercial or a digital banner advertisement. Marketing messages will be more personalized, customized, and targeted to potential customers than ever before. Furthermore, IoT offers unlimited creativity for content creation as well as targeted delivery of content, as opposed to traditional advertising avenues. Not only does this solve many problems for marketers who work in an industry notorious for being unable to completely attribute spend on return, it also opens doors to see that direct return on investment (ROI).