The
marketing world has been directly impacted by the growth and constant
innovation of technology. The growth of technology has made marketing easier
and more successful. These articles talk about how online marketing has become
more and more popular as technology continues to improve and innovate.
A point in this article that caught
my eye and that many of us are familiar with is the use of social media for
marketing. Various sites such as Facebook, Twitter, or LinkedIn are heavily
populated and are great sources of marketing. They are able to use search
history to individualize and specialize what products to promote to you. You
can also participate in the marketing process by making your own posts to advertise
a product. For example, on LinkedIn you are promoting yourself. You are showing
other LinkedIn users your experiences and abilities to maybe pique their
interest in you.
Another point that I felt was
important to the development and improvements in marketing by technology was
the innovation of data analysis and improvements in data collection. By
analyzing and collecting data, companies can track their progress and inventory
through technology instead tracking it manually. This allows them to be able to
compare data side by side in an easy and efficient manner. It also helps with
productivity because it can help you to see what you need to sell more of and
what products you are having the most success with. This can be important to
the success of the company as a whole.
One more point that caught my
attention was the idea that companies use the internet and technology to form
relationships with customers. It amazing to see how far we have come as a
society that we don’t need face to face contact with a person to form a
relationship with them. These types of relationships are purely business and
are for the purpose of fulfilling the goal of selling a product at a fair price
that benefits both the producer and the consumer. For example, these types of
relationships allow for the consumer to give feedback on the product and the interactions
they had with the company. It also allows the producers to ask about the
product itself and if the customer is satisfied or if changes need to be made. There
are various features that can come with this form of relationship and these can
be seen as incentives for future interactions.
Something
I think the articles overlooked was the fact that people can also use
technology to market the flaws and bad features of products they may be
selling. I would like to know if they can develop a monitoring system so they
can see what people are posting about their products and then be able to
respond to these comments to build a better relationship with those customers.
Sources:
https://www.boundless.com/marketing/textbooks/boundless-marketing-textbook/the-marketing-environment-3/technology-32/use-of-new-technologies-in-marketing-and-research-171-4044/
http://blog.marketresearch.com/blog-home-page/bid/339928/5-Ways-Technology-Has-Changed-Market-Research
Rich, I really enjoyed your article because I can definitely notice a form of personalized marketing in my life. Just the other day I was online looking for sunglasses, and within an hour I found ads for all types of sunglasses on my Facebook sidebar. These companies are able to tend to the interests and needs of a specific customer. In a way, online marketing has become the new billboard. We are no longer looking into the sky for tall advertisements, instead they can be literally found in the palms of our hands. Not only can companies use technology and the Internet to promote their goods and services, they can use technology to improve them. Companies can use their statistical analysis and decide what consumers dislike the most about a promotion or product. Based on this information, companies are then able to improve and work out any kinks. Overall, we are moving towards a time where businesses are getting the best feedback they’ve ever had, all thanks to technology.
ReplyDeleteHey Rich, you touched on a lot of good points here. However, like David added, marketers can directly track your browsing habits and feed you advertisements based on such. Companies are even going a step further and combining this with your location which is constantly being fed out by almost all electronic devices. I was watching a video the other day and an ad popped up for a local car dealership in baltimore. Additionally, the ads on the side of the page were for local stores as well. As our mobile devices gain additional abilities to track more and more about us, companies can target advertisements and promotions more directly. It will be interesting to see in the future how companies will use fitness trackers to learn even more about us. This can range from our workout habits to even our sleeping patterns. This technology is growing at a rapid rate and seems to only be speeding up.
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