How is the increasing use of technology changing marketing in the 21st century?
Marketing is a hugely vital tool for any organisation. A department that needs to be run and managed successfully, Marketers need to be extremely vigilant and aware of the constant changes in technology and the different ways that consumers will use various new technology’s to gain information on products. A range of elements will be discussed such as the internet, e-mail marketing and iTV marketing. With the use of online research and reference books to help to consider how new technology is changing marketing in the 21st century.
Since its beginning in the 1990’s the internet has revolutionised the way in which organisations can go about their business. Giving the opportunity for organisations to market their products to a global audience in a way not possible in previous years. Additionally it has given the chance for smaller businesses to reach this vast audience with huge opportunities to climb the competitor ladder and build a bigger and wider customer profile.
As stated by Andrew Evens “Technology, the internet and websites are opening up a new world of marketing communication. A fundamental change has occurred and marketers need to rethink their strategies. Today the consumer has the opportunity to come to you or your competitor, by accessing your website or sending an e-mail. All relevant information must be accessible and user friendly. It should also be a two way flow.” (www.bizjournals.com)
With a “£4.57bn spend in December 2008 alone, and with 42 million internet users shopping online in 2008” (www.theguardian.co.uk), it can be clearly seen just how the internet has become a huge and successful way of doing business in the 21st century.
The process of internet marketing is relatively inexpensive to an organisation and generally the initial setup of the website will be the highest cost a company will endure. The website can then offer very specific, up to date information which can be changed very easily. As opposed to a company brochure or catalogue which can be very difficult to change and expensive as a company may already have hundreds printed or already sent to consumers.
Also another benefit which the internet provides in saving businesses time and money is the drop in use of expensive direct marketing newsletters and customer mail outs as this process can now be done with the use of direct e-mail, instantly, to thousands of customers or potential customers and next to no cost. Also with the help of broadband, the uses of online commercials has and are becoming more popular in a way to combat the drop in effectiveness and expense of TV and radio commercials.
In respect of advertising, the internet opens many doors to organisations, to communicate and promote their product or service, not only can a company set up and operate their own personal websites but they can advertise on other businesses websites or search engines and more recently on social networking sites in an attempt to be seen and heard by a much wider audience and a whole range of potential customers.
We have started to see on television commercials and advertisements that the company’s website address has taken over from the phone number which a few years back was the other way around, this shows which of the two is a more popular way of communicating with a company in recent times.
Another factor to put across is the way companies can use the internet and websites to gather vital information on customers that have purchased products from their websites creating a database of previous customers therefore creating scope for more effective direct marketing campaigns. As stated by (Brassington & Pettit, 2006, pg 820.) “Database technology is now realistic for even the smallest company to develop and manage some kind of customer database relatively cheaply. Thus it is now possible to hold...
Bibliography: http://www.allbusiness.com/technology/telecommunications-conferencing/465811-1.htmls-of-email-marketing.html - 12k - (Accessed, 8th March 2009)
http://www.bizjournals.com/internet/marketing (Accessed, 8th March 2009)
Brassington, F. and Pettit, S. (2006) Principles of Marketing. (Fourth Edition) Prentice Hall. (pg.820, 1179, 1180, 1185 and 1198)
http://www.opt-in-email-marketing.org/benefit (Accessed, 14th March 2009)
Rohner.k, (1999) Marketing in the cyber age. 1st edition. Wiley. (Pg. 174)
http://www.theguardian.co.uk/businessnews (Accessed, 14th March 2009)
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