The Impacts of Industry 4.0 on Marketing Activities and Strategies of Iron and Steel Industry in Developing Countries: Case for Uganda

Abstract

The iron and steel industry is one of the main contributors to the total Gross Domestic Product (GDP) of most developing countries in Africa and is key for both domestic and global markets. The holistic approach to Industry 4.0 needs a wider look at the transition taking place in the area of marketing. The paper aims at investigating the impacts of Industry 4.0 on marketing activities and strategies of iron and steel companies in developing countries by identifying which consideration factors are relevant when adopting industry 4.0 in relation to the cost of doing business, then propose strategies and possible solutions that could be considered. A research by survey method through distributes descriptive and deductive approach to collect primary data in questionnaire format. The results show statistical evidence to explain impact of industry 4.0 on marketing activities and strategies such as; effects of rapidly evolving technological capabilities, product quality, quantity, and raw material, increased supply chain and channel strategy, value addition, organizational realignments to integrate physical and digital technologies, positioning in the market, pipeline management, illicit trade practices, skills gap, research and innovation, website foundation, technology stack, content strategy, lead generation, pipeline management, and data analysis (analytic tools). Steel companies should adopt new technologies to improve productivity and standardization, and call for enhancement of regulatory mechanisms to remove incentives for illicit trade practices such as tax evasion, falsification and substandard products.