Technology is advancing in a pretty big way. In the last century alone we have experienced technological innovations and inventions that could have only been dreamt about by those of old.
What seemed impossible back in the 60s has now become a reality and an integrated part of human life today. Technology isnt just given to the privileged few, today everyone is now able to use them freely for whatever they see fits their lifestyles and personality.
Here are the key points on how it affects the over all product that you would be marketing:
Product introduction is now made simpler and easier.
The internet has affected how products and services are presented to the general public. It is reviewed and developed based on how they want people to perceive the product and how it is to be used. Feedback is immediately given by the users and it is through this that product innovation is created and has caused an environment of continuous evolution. It makes the interaction between end-users and manufacturers more direct and in sync, taking out the middle man in sales more often than not thus affecting more of how the product is going to be priced.
Price the internet allows information on products to be gathered by clientele/customers so easily.
This allows the consumers to make a comparison of products and quickly decide on which they feel would be best worth their time and money. With the growing number of smartphone users being able to check out products as they are on the go makes a good medium for the users to quickly go through the process of choosing what products to buy even before they reach the counter.
Promotion and its varying disciplines such as advertising, direct marketing, public relations are all easily disseminated to the general public via many technological methods and tools such as websites, smartphone applications, email and text messaging.
These tools are so versatile that in capable hands, gives the marketing professional to personalize the product in anyway that they see would fit the end-users.
These are just but a few of the things and ways that technology has affected and improved on the marketing strategies of products and services.
Regardless of what you are going to sell the present evolution of technology has empowered people to reach out and touch people in ways that people of the past have only dreamt of. Individuals are now more connected in many different ways at so many different levels.
It would be foolish for any marketing leader to ignore the cost effective and efficient ways that technology can provide to those that use it to their advantage, cause if they dont their competition most definitely will.