Technology is revolutionizing the marketing environment.
is revolutionizing the marketing environment.
products/ new processes
The technological environment
represents the application to marketing of discoveries in science, inventions
and innovations. New technology results in new goods and services for
consumers; it also improves existing products, strengthens customer service and
often reduces prices through new, cost-efficient production and distribution
methods. To gain competitive advantage marketers have to be innovative,
focusing on new product development. Companies like Nokia, Microsoft, Wipro,
HUL, are seen introducing new models with new features and new designs.
(ii) Threat of
Technology can quickly make
products obsolete. Marketers consider planned obsolescence as a strategy to
outdate their own products by launching new models on a regular basis. Maruti
models include Maruti Suzuki Grand vitara, launched in 2003, Maruti Versa,
launched in 2004, Maruti Suzuki Swift, launched in 2005, Maruti Zen Estilo and
Maruti Suzuki SX4, launched in 2007.
Technological innovations not
just create new products but also whole new industries. Recently, the Internet
has been transforming the way companies collaborate with different stakeholders
to create more value for the customers. E-commerce and online marketing have
revolutionized the style of marketing. Software companies and their packages
for CRM and SCM are changing the way firms operate today.
Technology can sometimes address
social and environmental concerns by offering a cheap, non-polluting,
energy-conserving, safe product and also create parity among consumers by
providing equal access and opportunity. Companies are reducing the production
of plastic materials and switching to paper products which are biodegradable.
Paper making companies are encouraging social forestry to save forests. Organic
waste is converted into biogas to be used as fuel.
Marketers must closely monitor
the technological environment for a number of reasons. Creative applications of
new technologies give a firm a definite competitive advantage. Marketers who
monitor new technology and successfully apply it may also enhance customer
Tags : MARKETING MANAGEMENT - Marketing Environment
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