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advantage in rapidly changing technological environments. Their insights suggest that
                  digital marketing should be viewed not merely as a communication tool but as a dynamic
                  capability supporting strategic transformation and innovation. In this regard, the
                  development trajectory of digital marketing can be understood through successive
                  technological stages, including mass communication marketing, internet-enabled
                  interactive marketing, data-driven precision marketing, and artificial intelligence–
                  supported intelligent marketing. This evolution reflects the transition from firm-centric
                  marketing to ecosystem-oriented marketing practices involving collaborative interactions
                  among firms, digital platforms, and customers.
                        1.2. The development of digital marketing in Vietnam
                        The development of digital marketing in Vietnam has closely followed the country’s
                  broader trajectory of economic modernization, technological diffusion, and the expansion
                  of the digital economy. In the early period prior to the mid-2000s, marketing activities
                  were largely dominated by traditional mass communication approaches, including
                  television advertising, print media promotion, and outdoor campaigns. During this stage,
                  marketing strategies were predominantly product-oriented and characterized by one-way
                  communication flows, limited customer interaction, and relatively low levels of market
                  segmentation. The effectiveness of marketing activities was primarily measured by
                  audience reach rather than engagement or conversion outcomes.
                        The period from approximately 2005 to 2015 marked the initial transition toward
                  internet-enabled marketing practices as Vietnam experienced rapid growth in internet
                  penetration and social media usage. Firms increasingly adopted search engine marketing,
                  online display advertising, and social networking platforms to enhance brand awareness
                  and establish interactive communication channels with customers. This stage reflected
                  the gradual shift from transactional marketing toward relationship-oriented marketing
                  approaches facilitated by digital communication technologies (Nguyen & Simkin, 2017). At
                  the same time, the early development of domestic e-commerce platforms and online
                  retail channels created the foundational infrastructure for subsequent digital marketing
                  expansion.
                        Since 2015, Vietnam has entered a phase of accelerated digital marketing
                  transformation driven by the rapid expansion of the e-commerce sector and the
                  emergence of platform-based business ecosystems. Market statistics indicate that the
                  value of Vietnam’s e-commerce market increased significantly from approximately USD 4
                  billion in 2015 to around USD 20.5 billion in 2023, with continued strong growth projected
                  in the coming years (Google, Temasek, & Bain & Company, 2023). The Vietnam E-Business
                  Index further reports that retail e-commerce revenue has maintained annual growth rates
                  exceeding 20 percent, reflecting the increasing adoption of online shopping and digital
                  payment systems across urban and semi-urban populations (Vietnam E-commerce
                  Association [VECOM], 2024). By 2024, Vietnam recorded more than 77 million internet
                  users, accounting for roughly 79 percent of the national population, alongside widespread
                  usage of mobile devices and social media platforms for commercial purposes. These
                  trends have accelerated the reallocation of marketing budgets toward data-driven
                  targeting strategies, social commerce engagement, livestream marketing, and
                  personalized digital content creation.
                        The period from 2020 onward has witnessed the emergence of an AI-driven stage of
                  intelligent digital marketing development. The integration of artificial intelligence
                  technologies, including algorithmic recommendation systems, marketing automation


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