University of Maryland - Robert H. Smith School of Business
Date Written: February 6, 2017
Today’s consumers are immersed in a vast and complex array of networks. Each network features an interconnected mesh of people and firms, and now, with the rise of the Internet of Things (IoT), also objects. Technology (particularly mobile devices) enables such connections, and facilitates many kinds of interactions in these networks — from transactions, to social information sharing, to people interfacing with connected devices (e.g., wearable technology). We introduce the POP-framework, discuss how People, Objects and the Physical world interconnect with each other and how it results in an increasing amount of connected data, and briefly summarize existing knowledge on these inter-connections. We also provide an agenda for future research focused on examining potential impact of IoT and smart products on consumer behavior and firm strategies.
Keywords: Connected Consumers, IoT, Mobile, Smart Cities, Big Data
Verhoef, Peter C. and Stephen, Andrew T. and Kannan, Pallassana and Luo, Xueming and Abhishek, Vibhanshu and Andrews, Michelle and Bart, Yakov and Datta, Hannes and Fong, Nathan M. and Hoffman, Donna L. and Hu, Mandy and Novak, Thomas and Rand, William and Zhang, Yuchi, Consumer Connectivity in a Complex, Technology-Enabled, and Mobile-Oriented World with Smart Products (February 6, 2017). Journal of Interactive Marketing, Forthcoming, Available at SSRN: https://ssrn.com/abstract=2912321 or http://dx.doi.org/10.2139/ssrn.2912321