15August,2016

5gNetwork&theInternetofThings

Whatis5g?AccordingtotheNextGenerationMobileNetworksAlliance,5gisdefinedas“anetworksupportingdataratesgreaterthantensofmegabitspersecondfortensofthousandsofsimultaneoususers.”1Fortheconsumers,thismeanshigherdataspeeds,bettercoverage,andnewdevicesusingnewformsofcommunication.The5gNetworkisstillintheearlystagesofdevelopment,but2020isthepredictedyearofcompletion.Notonlywillthisnewnetworkchangehowpeoplelivetheirdailylives,itwillalsogreatlyimpactmarketingpractices.

Howwill5gchangethewaywelive?Prettymucheverythingweuseinourdailyliveswillbeconnectedtoeachother,creatingthe“internetofthings.”Itispredictedthattherewillbeabout50billionconnecteddevicesbytheendof2020.This50billiondoesnotincludethebillionsofsensorsthatwillbereportingoneverythingfrombodytemperaturestowaterlevelsinrivers.Currently,thereareover15billionconnecteddevicesintheworldaccordingtoroughestimates.Cars,appliances,andwearabledeviceswillallcommunicatetoeachother,creatingnewwaysofaccomplishingdailytasks.Inaddition,5gwillchangethewaybusinesstransactionsareconducted.Shoppingwillcompletelychangewhenourdeviceskeeptrackofourinterestsandcommunicateourbuyinghabitstoretailers.Thiswillresultinbothasmoothervirtualandbrickandmortershoppingexperience.1http://www.business2community.com/mobile-apps/5g-will-change-way-business-01286194#CHD83q0V20dOOyvK.99

Real-timedatatransmissionwillhelppeopleaccessinformationfromtrafficupdateswhiledrivingyourcartonotificationsofsalesatlocalretailers.

To learn more about the” home of the future”: http://www.wordstream.com/blog/ws/2015/01/09/the-internet-of-things

ImpactonMarketingCompleteconnectivityofthevariousdevicesconsumersusewillcreateamyriadofnewvaluableinformation.Thisdatacanbeusedtopaintamorecompletepictureofthebuyers’dailyhabits,energyuse,andneeds.Marketerswillbeabletoofferproductsandservicesinamorehighlytargetedmanor,betterfittingtheneedsoftheconsumer.Thiswillreduceunnecessaryadvertisingspending.Forexample,ifMacy’swashavingaone-day-onlysale,theywouldbeabletonarrowtheirtargettopeoplecurrentlyinthemall.Inaddition,real-timedatatransmissionallowsopportunitiesfornewmarketingcampaignsusingawiderangeofdevices.Imagineifyourrefrigeratorknewyouwereoutofeggsandwasabletoinformyouofaneggdiscountatthelocalmarket.Thiswillalsocreatealotofnewproblemsandobstaclestoovercomeinordertoaccomplishthisshiftinmarketing.

ProblemsSincemanydifferentdeviceswillbeconnected,thenew5gNetworkwillhavetobeintelligentenoughtounderstandhowtoallocateitsresources.Itwillneedtobecontent-aware,user-awareandlocation-aware.Marketerswillneedtobeabletodelivertherightmessagetotherightpersonattherighttime.Withalackofcontexttherewouldbewastedbandwidth.Asaresult,regulatoryframeworkswillneedtoevolvetokeeppacewiththechange.Oneofthebiggestissueswithcreatingtheseframeworksisthatthe5genvironmentcannotbecreatedbyanyonecompany.Universalstandardsneedtobeestablishedtoensurethateverythingiscommunicatingthesamelanguage.Suchstandardswillrequirealmostalltechcompanies,serviceprovidersandgovernmentstoworktogethertodefineandagreeuponthesenewperameters.Because5gisstillintheearlystagesofdevelopment,enhancementsin5gmaybecompletelydifferenttothosecurrentlybeingdiscussed.The4gnetworkisstillbeingintroducedandhasyettoappearinmanyareas,particularlyintheUK.With4gnotcompleted,theestablishmentofasetofuniversalstandardsfor5gseemstoogoodtobetrue.Thisuncertaintymakespreparationfora5gmarketevenmorerisky.

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AbouttheAuthor:JoshuaMannAsarecentgraduateoftheTerryCollegeofBusinesswithadegreeinMarketing,Joshuahasyettomakehismarkontheindustry,thoughheclearlyhasgreatpotential.Duringcollegeheheldanumberofinternshipsutilizingcreativeplanningandsocialmediamarketingstrategies,mostnotablyasaBrandAmbassadorforCoca-Cola.Joshuastrategically planned, promoted and executed campus events for Coca-Cola brands andwasresponsibleforutilizingsocialmediaandword-of-mouth tactics toengagestudentsinmultiplecollegetargetedcampaigns.Inaddition,JoshwasamemberofthemarketingteamsupportingDefJamartist,CyhithePrynce.DuringthistimeJoshuawasthemajordriver of the marketing strategy for Cyhi the Prynce’s mixtape release (executive produced by Kanye West) resulting in over 300,000 downloads. Joshua also heavily influenced the creative branding for the launch of Ivy State merchandise and cross-country tour. Currently, Josh is being considered for a coveted internship with the prestigious Creaxion.