how technology influences marketing
Post on 17-Oct-2014
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An overview of the various ways in which the marketing landscape has been influenced by technological advances.TRANSCRIPT
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ICT and E-commerceANNUSHA S BRIDGLAL
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How does Technology Influence Marketing?
•Technology acts as a catalyst for today’s changes in how marketing is done.▫Easier Access to More Information▫Possibility of people to Network with each other
•Traditional marketing: ONE way flow:
•Today: Technological advancements and Social media give consumers the collective power to dictate what companies do.
Company
Consumer
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TRINIDAD’S MARKETING LANDSCAPE
•Lack of integration of technology and ICT processes.
•In my opinion, we are still strongly rooted in traditional marketing, with very little emphasis being placed on e-commerce processes and online niche marketing.
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TRINIDAD’S MARKETING LANDSCAPE•There has been a recent growing trend
toward online buying via Facebook. Although it increases consumer choice, they are sometimes subject to escalated prices.
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Local Enterprises must adopt an Evolving Business Strategy
Strategy
Must not be static
Tactics
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Companies who Successfully Adopted an Evolving Business Strategy
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DELL: Success Through Innovation
1985
•Dell changed his strategy to begin offering built-to-order computers.
1990
•Revenues had climbed to $500 million
1997
•Dell’s internet sales had reached an average of $4 million per day.
2000
•Dell’s revenues had topped an astounding $25 billion
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Dell’s Strategy: No More Middle Man
•Superior customer choice: Configuration
•Discounted price: due to cost savings from cutting out retail middlemen.
• Internet-based direct sales model offered:▫wealth of market data ▫used to forecast demand trends, and▫carry out effective
segmentation strategies
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How can Local Companies benefit from New Channels
• New media channels such as social media marketing and online advertising/e-commerce are becoming more and more popular, especially among specific market segments such as generation Y and part of generation X.
SOCIAL MEDIA MARKETING• discussions
forums, corporate blogs, community groups, etc.
E-COMMERCE• Sales
expenses are cut down when using e-commerce enabled websites.
ONLINE ADS• lower costs
than traditional media advertising
INFORMATIONAL SITES• can be used as
ways to communicate the messages and/or drive customers to the stores
ONLINE PROMOTIONS• offer new sales
promotion tools
COMPANIES/CUSTOMERS• can save
money by using Internet to compare sellers’ prices before purchasing, to train staff or to hire employees
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Benefits to Local Companies
•Cut Costs: inventory costs etc.•Build Relationships with customers via
effective CRM.•Deliver exactly what the customer wants:
Customization.
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The Future Of Marketing!•Mobile Marketing
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The Future Of Marketing!• E-COMMERCE
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The Future of Marketing!
•Blogging
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The Future of Marketing
• Radio-frequency identification (RFID)▫Is the use of a wireless non-contact
radio system to transfer data from a tag attached to an object, for the purposes of automatic identification and tracking. May be used to replace price tags etc.