According to Chris (2011), the effect of technology on marketing methods and strategies is dramatic. In today’s world, the information society is growing at a rapid speed as a result of advancement in technology. According to Mazur, “information is the most precious component of a modern corporate.” Technology is used to effectively and precisely gather, handle and carry out an analysis of the large amount of information in a company. Each and every year, companies in the United States spend more than a billion dollars in investments in marketing strategies related to IT. Technological advancement not only benefits business entities, but also consumers. To business firms, it enables them to access a wide base of consumers and get consumers feedback on time. On the other hand, it enables consumers to compare differences in prices and quality of products so that they can be able to choose the business firm whose products suits their needs.As a result of innovative bounds, companies are able to use technology to effectively communicate with their customers. Before the advancement of technology, there were very few methods that companies could use to communicate with their customers. However, with improved technology, marketers are able to use a variety of channels including social media, emails and advertisements on the internet. These electronic services enable customers to access information anywhere and at any given time. As a result of this, instant information sharing is facilitated and this is likely to result to increase in sale volumes which in turn lead to increase in profits (Chris, 2011).
Additionally, technology is also used a long side older marketing methods such as direct mails and in-store advertisements. Through these channels, business companies are able to communicate their offerings and benefits to not only their customers, but also the general public. However, some marketing experts argue that companies are giving consumers a large number of choices which may be problematic. According to them, consumers normally feel overwhelmed and are likely to move on when they are presented with too many options to choose from. Numerous researches have shown that companies that use numerous options are likely to sell less, though not always. The prime argument for such cases is that companies that have numerous opportunities to communicate normally overload the general public with information and offerings thus discouraging them.
The new channels of communication that have been facilitated by advanced technology have been extremely beneficial not only to marketers, but also consumers. Services such as Asana and YouTube have enable companies to effectively plan out not only their executions earlier in advance, but also organize their media. On top of that, the existence of various forms of technology has enabled business entities to create communicate single and consistent messages on all platforms to consumers. This approach is very beneficial as it enables consumers to be aware of a company’s products. On top of that, this approach increases the resonance between a business entity and consumers (Emily & Sandy, 2013)
Through platforms like Facebook and Twitter, companies are able to get feedbacks from consumers in time and adjust its marketing strategies so that they are in line with consumers’ needs and wants. Consumer’s feedback is very crucial to any company as it enables it to make changes not only to its products, but also to its marketing strategies. Advancement in technology has not only led to improved performance, but also speedy delivery of services. If a company produces low standards of goods and services, consumers are likely to shift to the company producing quality products. This can be attributed to the fact that technology gives consumers a wide base to choose from. Therefore, technology has made each and every company to have marketing strategies and strategies that ensures that consumer goods meet the desired quality. Although advancement in technology has really helped businesses to adjust their strategies so that they meet consumers’ needs, it can negatively impact on the reputation of a business if the conveyed message is incorrect (Rupert, 2012).
Through advanced technology, business entities are able to access a wider market. For instance, social media like Facebook has a larger user base and therefore advertising a company’s products on it is likely to attract a large number of consumers. Moreover, a marketer can specifically target a particular segment or individuals through their email addresses and social media accounts. Most companies send newsletters to its customers so that they can gain more information about the company’s products. Additionally, if a consumer likes a Facebook page of a given company, he or she will be able to access more information on the company’s products and offerings (Rupert, 2012).
Generally, advancement in technology has played a vital role in the production of more positive results as compared to the traditional method. The new channels of communication that have been facilitated by advanced technology have been extremely beneficial not only to marketers, but also consumers. Consumers are able to differentiate between different company’s content and prices and make the best choices that suit their needs. Even though advancement in technology has really helped companies to alter their marketing methods and strategies so that they suit consumers’ needs, it can detrimentally affect the reputation of a company if a message is incorrectly executed. Because messages are recorded on the internet, companies should be cautious in using digital communication. The ease with which business companies disseminate their advertisements online is the same manner in which negative reviews from consumers can rapidly spread across the internet and negatively impact on the company’s reputation.
- Chris, A (2011). ICT and Business: A Global Perspective New York: Rutledge
- Emily, W & Sandy, S (2013).The Greatest Technology: Insight into Innovative Practices New York, NY: Oxford University Press
- Rupert, W (2012). Incorporating ICT into Business New York, NY: Oxford University Press