How do marketing automation tools use tracking cookies, and is “tracking” a misnomer?

I don't think this question should be just targeted at marketing automation or B2B. The whole do not track effect everyone who might use tracking in email and websites. If legislation like this passes in the US as is already has in the EU, then it would mean that marketers will not be able to send relevant and targeted ads to their use base. When you look at the heart of tracking whether first or third part, it can be VERY beneficial if the user knows about it ahead of time and also given the option at any moment in time to opt-out or remove the tracking from their computer.

Tracking of any kind helps deliver timely and relevant advertising and messaging to their customers. Without it, users would receive boring non-tailored information making their Internet experience longer in having to search for what they need. To make things worse, many of those freemium apps you have on your iPhone also would go away. They are free because when you download them the advertisers can show relevant ads based on your habits through opt-in tracking. If they can’t show ads then the apps won’t be free and prices on services and technology goes up.

Overall, I don't think tracking of any sort is bad as long as the parties dropping both the first and third party cookies are as hyper-transparent about it and offer choices to the user about them. Without notice, choice, and consent we are not respecting the end-users right to privacy. The industry can protect consumers’ privacy without legislation or further governmental oversight and expense and many do today very well with the preference centers they give customers.