Marketing-to-Millennials: Marketing 4.0, customer satisfaction and purchase intention

Jul 7, 2026

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This study explores the evolution of Marketing 4.0 and empirically examines its impact on customer satisfaction and purchase intention. Marketing 4.0 upgrades Marketing 3.0 by incorporating brand interaction in the digital age and tests all four components using structural equation modeling on 508 prospective real estate first-time homebuyers. Results show brand identity and brand image significantly shape satisfaction and purchase intention, and customer satisfaction strongly drives purchase intention.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages13

Reading Time33 min

Introduction

Marketing 4.0 and digital marketing evolution

Context: real estate turbulence and regulatory/technology disruptions

Journal of Business Research 122 (2021) 608–620 Contents lists available at ScienceDirect Journal of Business Research journal [homepage: www.elsevier.com/locate/jbusres](homepage: www.elsevier.com/locate/jbusres) | Marketing-to-Millennials: Marketing 4.0, customer satisfaction and purchase intention | | | | | --- | --- | --- | --- | | Ganesh Dash a, Kip Kiefer b, Justin Paul c, d<br>a College of Administration and Finance, Saudi Electronic University, Saudi Arabia b Rollins College, USA<br>c University of Puerto Rico, San Juan, PR, USA<br>d Distinguished Scholar, Indian Institute of Management-K, Kerala, India | | | | | A R T I C L E I N F O | | A B S T R A C T | | | Keywords:<br>Marketing 4.0 Customer satisfaction Purchase intention Branding Millennials | | This study explores the evolution of Marketing 4.0 and empirically examines its impact on customer satisfaction and purchase intention. Marketing 4.0, an upgrade to the previous Marketing 3.0 model, aims to include the influence of brand interaction in the digital age. This study provides an empirical test of this newer model by analyzing all four of its components with customer satisfaction and purchase intention. Using structural equation modeling to analyze 508 prospective real estate first-time homebuyers, this study evaluates the role of the components of Marketing 4.0 in maximizing customer satisfaction and influencing purchase intentions. Findings indicate that brand identity and brand image are significant factors in determining customer satisfaction and purchase intention. Furthermore, the impact of customer satisfaction on purchase intention is highly significant. Unexpectedly, and counter-intuitively, there was not a significant relationship between brand integrity or brand interaction on customer satisfaction and purchase intention. Considering the study’s participants (Gen-Z/ Millennial first-time homebuyers) and the international context of the study (the northern Indian real estate market), this study provides important insights into burgeoning international industries and their prime future target market. Furthermore, this study indicates that, a Marketing 4.0 approach that focuses on brand identity and brand image may influence customer satisfaction and, subsequently, increase customers’ purchase intentions. | | 1. Introduction The Internet has changed the world of marketing forever. The increased connectivity and access to information have disrupted, or at least forced to evolve, many of the existing marketing platforms and models. The Internet has become so ubiquitous in the modern business environment, that nearly no firm, big or small, can escape its influence. As client connectivity and social media continue to expand, so do the types and shapes of customer interactions, making the Internet easier and more powerful than ever before. The Internet has been so influential, that recently scholars have developed a new approach to marketing—Marketing 4.0 (Kotler et al., 2016; Jara, Parra & Skarmeta, 2012)—to accommodate its influence. Marketing 4.0 calls for a shift from simply using traditional means to more digital approaches to reach customers and develop customer relationships (Kotler et al., 2016). It combines online and offline interaction between companies and customers in the digital economy (Kotler et al., 2016). As Kotler and his co- authors (2016) explain, in the growing digital economy, it is insufficient to simply interact with customers, but rather firms must authentically blend “style with substance” to be more flexible and adaptive to rapid technological changes. As a relatively new theoretical model, Marketing 4.0 is currently under-studied, particularly empirically. As such, this paper applies the novel Marketing 4.0 model to a real estate industry that has experienced turbulence coupled with a global recession and significant technological advancements. Beyond the turbulence experienced during the recent global r

FAQs

What does Marketing 4.0 aim to change compared with Marketing 3.0?

Marketing 4.0 shifts from mainly traditional approaches to digital ones and blends online and offline company–customer interactions, emphasizing brand interaction in the digital economy.

How was the Marketing 4.0 model tested in this study?

The study applies Marketing 4.0 to real estate and uses structural equation modeling with data from 508 prospective real-estate first-time homebuyers.

Which Marketing 4.0 components significantly affected customer satisfaction and purchase intention?

Brand identity and brand image significantly influence both customer satisfaction and purchase intention, and customer satisfaction has a highly significant effect on purchase intention.

Jul 7, 2026

Upload by Jiven