Leveraging Industry 4.0 for marketing strategies in the medical device industry of emerging economies

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Abstract
This research investigates the impact of the technologies through an integrated Fuzzy Analytic Hierarchy Process (F-AHP) and VIKOR model to determine their viability as a marketing strategy for business growth in the Prosthetics and Orthotics (P&O) medical device industry. Based on expert data, the study evaluates the integration of Industry 4.0 technologies and ranks them by priority for marketing performance: “Artificial Intelligence & Machine Learning” (0.3295), “Internet of Things” (0.4325), “Virtual Reality & Augmented Reality” (0.5000), and “Big Data” (0.5704). The findings confirm that the proposed model effectively Leverage the industry 4.0 technologies to enhance marketing strategies, using Pakistan as a case study. This research serves as a blueprint for addressing the integration of next-generation marketing tools, technological advancements, and business growth challenges in the P&O industry. It contributes to the growing body of knowledge on the role of technology in improving healthcare marketing and business performance in emerging markets. Future research should explore the broader impact of Industry 4.0 technologies on healthcare marketing, focusing on strategic decision-making, efficient marketing resource allocation, and performance measurement to ensure sustained success in the P&O medical device sector. The study concludes that prioritizing Industry 4.0 technologies, however, limitations such as sample size, data collection constraints, and model complexity may Leverage the generalizability of the results. Future research should address these limitations by expanding the scope of expert involvement and exploring the application of this model in other emerging economies, to further validate the findings and assess the broader implications for healthcare marketing strategies globally.
Funding Information
  • Postgraduate Research & Practice Innovation Program of Jiangsu Province (KYCX22_0561, KYCX22_0561, KYCX22_0561, KYCX22_0561)

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